Futurpreneur Canada Indigenous Program

The Indigenous Entrepreneur Startup Program has specific criteria to determine eligibility, focusing on the entrepreneur's identity, residency, age, and business status.

• You must self-identify as Indigenous.
• You must be a Canadian citizen or permanent resident.
• You must be aged between 18-39 at the time of application.
• You are looking to launch a business or have been operating your business for less than one year full-time.
• You must have a Futurpreneur eligible business model and a qualified credit standing.

Who is eligible?

The Indigenous Entrepreneur Startup Program (IESP) targets young Indigenous entrepreneurs at the start of their business journey, offering support through loan financing and mentorship.

• Applicants must be self-identifying as Indigenous, which includes those who may intersect with other identities (e.g., Black and Indigenous).
• Eligible individuals need to be Canadian citizens or permanent residents.
• The age range for applicants is 18 to 39 years old.
• Applicants should be in the process of launching a business or have a business that has been operational for less than one year full-time.
• Applicants need to have a Futurpreneur eligible business model and maintain a qualified credit standing.

Eligible expenses

The Indigenous Entrepreneur Startup Program (IESP) supports activities that help launch and grow businesses led by young Indigenous entrepreneurs. The program focuses on financial, mentorship, and networking support to facilitate business success.

• Provision of equity-free startup loan financing up to $60,000 for eligible Indigenous entrepreneurs.
• Offering up to two years of personalized mentorship with experienced business leaders.
• Access to resources such as business planning workshops and financial empowerment tools through initiatives like the Ohpikiwin workshop series.
• Engagement opportunities with a national network of Indigenous entrepreneurs and leaders at entrepreneurial events.

Eligible geographic areas

The IESP grant assists eligible Indigenous entrepreneurs with foundational business startup expenses through loan financing.

• Startup costs for launching a business.
• Purchase of initial inventory and supplies.
• Acquisition of necessary equipment for business operations.
• Marketing and promotional activities to establish market presence.

There are evaluation and selection criteria for this grant.

• Evaluation based on business plan viability, financial projections, and entrepreneurial skills.
• Selection criteria include the applicant's age (18-39), business idea feasibility, and potential for growth.
• Applicants must demonstrate a clear understanding of their market and competitive landscape.
• Potential for social impact and community benefit may also be considered in the selection process.

There are a few additional details worth knowing about the Indigenous Entrepreneur Startup Program (IESP):

• You will have access to Futurpreneur’s networks, which connect Indigenous entrepreneurs with leaders and community organizations at various events.
• The program includes tools like the Ohpikiwin workshop series, focused on financial empowerment with an Indigenous lens.
• Participants of the program have access to unique resources for business planning, aimed at enhancing their entrepreneurial skills.
• You are encouraged to connect with various partners like the Alberta Indian Investment Corporation and the Métis Financial Corporation of BC, which work with IESP to provide additional support.
• Personal experiences and success stories of other Indigenous entrepreneurs who have succeeded with Futurpreneur are shared to provide motivation and insights.
• The program also has a celebration component, which highlights the stories of emerging Indigenous businesses and entrepreneurs.
• Integrated mentoring from an experienced business leader is provided for up to two years to guide the applicant through the development phase of their business.
• The financing terms includes interest-only payments for the first year to ease repayment pressure during the startup phase.