Futurpreneur
Canada
Futurpreneur Canada makes it easier for aspiring young business owners to secure financing. And they have partnered with the Business Development Bank of Canada (BDC) to extend their support even further.
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Futurpreneur Canada
grant_single|status
grant_card_status|open
grant_single_labels|preview
Futurpreneur Canada offer collateral-free loans at better interest rates than most banks. We’re able to finance up to $20,000 per business. If you need more money, BDC may provide up to $40,000.
grant_single_labels|projects
Futurpreneur's support is tailored for entrepreneurs located across Canada. All eligible entrepreneurs must be citizens or permanent residents residing in any province or territory of Canada.
- All provinces of Canada.
- All territories of Canada.
grant_single|admissibleProjectsExample
$20,000
Launching a mobile coffee cart while maintaining current employment
$20,000
Launching an eco-friendly cleaning service while managing home responsibilities
$20,000
Launching an online artisanal jewelry store while maintaining a day job
$45,000
Acquiring a small bookstore to expand inventory and services
$20,000
Starting a graphic design studio while studying full-time
$20,000
Expanding a home-based artisan bakery to a retail location
grant_single_labels|admissibility
Eligibility for Futurpreneur's program is determined by specific criteria related to the entrepreneur and their residency status in Canada.
- Applicants must be residing in Canada.
- Applicants must be between 18 and 39 years old.
- Applicants must be citizens or permanent residents of Canada.
grant_eligibility_criteria|who_can_apply
Entrepreneurs in Canada aged 18 to 39, who are either Canadian citizens or permanent residents, are eligible to apply for the various programs and offerings provided by Futurpreneur. Specific programs also target Black entrepreneurs, Indigenous entrepreneurs, newcomers to Canada, and those looking to start side hustles or acquire existing businesses. Additionally, students and those looking to start non-profit organizations are also catered to by Futurpreneur.
grant_eligibility_criteria|who_cannot_apply
Yes, there are specific types of companies that are not eligible for this grant:
- Companies with founders above the age of 39
- Companies with founders who are not citizens or permanent residents of Canada
grant_eligibility_criteria|eligible_expenses
Futurpreneur offers a range of programs to support Canadian entrepreneurs in various stages of their business journey. These programs provide financial assistance, mentorship, and resources for business development.
- Resources and guidance for individuals interested in learning about entrepreneurship.
- Startup assistance including financing and mentorship for young entrepreneurs with a business idea.
- Specialized programs supporting Black and Indigenous entrepreneurs in their startup journey.
- Support for side hustles and part-time business ventures.
- Guidance on business acquisition for aspiring small business owners.
- Workshops for business development, including idea validation, planning, and financial management.
- Assistance and resources for newcomer entrepreneurs to overcome startup barriers.
- Opportunities for experienced individuals to mentor young entrepreneurs.
- Support for student entrepreneurs balancing academic and business pursuits.
- Resources for launching non-profit organizations, including funding and mentorship.
grant_eligibility_criteria|zone
The grant from Futurpreneur typically covers expenses related to starting and launching a business for eligible entrepreneurs.
- Financing for initial business setup costs.
- Access to expert business mentor services.
- Resources for planning, managing, and growing the business.
- Support for business plan and cash flow development.
grant_single_labels|criteria
The evaluation and selection criteria for projects under this grant are not explicitly stated in the given context and therefore cannot be accurately described.
grant_single_labels|register
- Step 1: Initial Contact
- Sign up to connect with a dedicated team member to learn more about Futurpreneur’s loan with mentorship and resources.
- Provide your contact details to start the registration process.
- Step 2: Business and Personal Assessment
- Tell about yourself and your business intentions to ensure registration for the appropriate offering.
- Complete any necessary preliminary assessments as per the guidance received from the team.
- Step 3: Draft and Submission of Initial Documents
- Prepare a draft of your business plan and cash flow statement.
- If you don’t have these documents, utilize available resources to get started on drafting them.
- Step 4: Review and Submission of Supporting Documents
- Have your draft business plan and credit reviewed to determine eligibility.
- Submit supporting documents like your final business plan, cash flow statement, business registration, and ID.
- Submit your complete business plan and cash flow for final review.
- Step 5: Application Review and Approval
- Your application will be reviewed, and if it meets the required conditions, approval for financing will be granted.
- Once approved, you will be matched with a Futurpreneur mentor.
- Step 6: Orientation and Mentorship
- Meet your mentor and complete the orientation process.
- Finalize all conditions of approval to receive your financing.
- Step 7: Launch Support
- Your mentor will provide guidance up to the launch of your business.
- Access networking events and other resources to grow your business.
Apply to this program
Embark on Your Entrepreneurial Journey with Futurpreneur
Futurpreneur Canada offers a variety of programs tailored to empower young entrepreneurs across the nation. With a focus on providing financial support, mentorship, and educational resources, the grant aids individuals aged 18-39 in navigating the unique challenges of starting or scaling their business ventures.
Dive Deep into Futurpreneur's Supportive Offerings
Futurpreneur Canada is a beacon for young aspiring entrepreneurs, providing a structured pathway to business success through its comprehensive programs. Aimed at individuals between 18 and 39 years old, the grant champions diversity by designing specific initiatives for various communities, including Black entrepreneurs, Indigenous entrepreneurs, newcomers, and students balancing academics. The initiative not only provides crucial startup financing but also matches recipients with experienced mentors for guidance, while equipping them with necessary tools and resources to grow their businesses sustainably.
One of the key features is the Futurpreneur Core Startup offering that supplies eligible young business founders with the capital needed to launch their ventures, coupled with up to two years of mentorship. These mentors are volunteers with vast business experience, ready to help new entrepreneurs navigate the complexities of business operations and strategy. Moreover, the Business Resource Centre offers tutorials and tools that guide users through business planning, management, financial forecasting, and market research.
For those interested in acquiring an existing business, the #OwnersWanted program simplifies the acquisition process by providing guidance and necessary financial support to ensure success in business ownership and succession. This approach not only fosters new business leadership but also secures the continuity of small businesses across Canada, contributing to the local economies and job opportunities.
Meanwhile, specialized pathways like the Black Entrepreneur Startup Program and the Indigenous Entrepreneur Startup Program aim to overcome identifiable barriers that these communities often face in the business world. They provide tailored support designed to inspire, develop, and bolster enterprises stemming from these vibrant communities, reinforcing cultural presence in the economic landscape.
For those new to Canada, the Newcomer offering addresses specific challenges such as lack of local credit history while equipping them with business know-how essential for building successful ventures that can withstand market obstacles. This empowerment extends to helping part-time business enthusiasts convert their passion projects into profitable side businesses through the Side Hustle program.
Apart from initiating business development, Futurpreneur also contributes to personal and professional growth by inviting seasoned professionals to volunteer as mentors. This practice enhances the skills and confidence of budding entrepreneurs while augmenting the mentor's own leadership and coaching skills, creating a dynamic environment of shared growth and community success.
To participate, applicants begin by providing details about their business ideas, after which they advance through a structured process that includes business plan development and cash flow analysis. This is followed by a credit review and verification of supporting documents to ensure all requirements are met. If approvals are granted, partnerships with assigned mentors bolster the journey until launch.
Ultimately, through its tailored funding and mentorship approach, along with unique learning resources, Futurpreneur Canada serves as a catalyst for young entrepreneurs ready to build their dreams and contribute to the diverse fabric of Canadian economy and innovation. By fostering an environment where ideas can flourish into thriving businesses, Futurpreneur ensures its commitment to guiding Canada's new generation of business leaders.
