
- Open Date : November 26, 2020
Overview
Get a collateral-free loan of up to $60,000, along with 2 years of expert business mentoring and resources to get your startup off the ground if you're an Indigenous person 18–39 years old.
At a glance
Funding available
- Develop strategic partnerships
- Complete an acquisition or business transfer
- Develop workforce skills
- Maximum amount : 60,000 $
- Open Date : November 26, 2020
Eligible candidates
- All industries
- Canada
- For-profit business
- Sole proprietorship
- All revenue ranges
- All organization sizes
- Indigenous Peoples
- Youth (<40)
Next steps
Activities funded
This program is available to Indigenous entrepreneurs located across Canada, supported by Futurpreneur’s national network. It enables access to resources, mentorship, and financing regardless of the geographic location within Canada.
- Indigenous entrepreneurs throughout Canada.
Eligibility
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.
Additional information
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.
Documents and links
Frequently Asked Questions about the Futurpreneur Canada Indigenous Program Program
What is the Futurpreneur Canada Indigenous Program?
How much funding can be received?
Who is eligible for the Futurpreneur Canada Indigenous Program program?
What expenses are eligible under Futurpreneur Canada Indigenous Program?
Where is the Futurpreneur Canada Indigenous Program available?
Is the Futurpreneur Canada Indigenous Program a grant, loan, or tax credit?
Who are the financial supporters of the Futurpreneur Canada Indigenous Program?
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