MRC Beauce-Centre — Futurpreneur
Canada
Financing for young entrepreneurs with mentorship and BDC partnership
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
- MRC Beauce-Centre
grant_single|status
grant_card_status|open
grant_single_labels|preview
Futurpreneur Canada offers young entrepreneurs aged 18 to 39 up to $60,000 in funding to start their business, with initial loans of $5,000 to $20,000 and potential additional financing from the Business Development Bank of Canada. This program is designed to support business viability through financial aid and mentorship, requiring the creation of a full-time job and a solid business plan.
grant_single_labels|terms_and_conditions
This grant provides financial support to young entrepreneurs in the form of loans to facilitate the startup phase of their business. The program also offers additional support through partnerships to extend funding capabilities.
- Loan amounts range from $5,000 to $20,000.
- Additional funding of up to $40,000 may be available through a partnership with the Business Development Bank of Canada (BDC).
- Principal payment holidays are offered for the first year.
- The loan term is structured over a period of 5 years.
- No securities or collateral are required to access the loan.
grant_single_labels|projects
This grant helps young entrepreneurs aged 18 to 39 with financing to start their businesses, focusing on activities that include the creation of new enterprises and job generation. Eligible projects are primarily those that entail launching new business ventures.
- Launching a new business enterprise.
- Development of a feasible business plan demonstrating potential for sustainability and growth.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific criteria related to the business proposal and the applicant's background.
- The business must have been in operation for less than 12 months.
- A viable business plan and financial forecasts must be provided.
- The business proposal must create at least one full-time job.
- The applicant must be aged between 18 and 39 years.
- The applicant should have relevant training for the proposed business.
- The applicant must own more than 51% of the voting shares.
- The applicant must commit to working with a mentor.
grant_eligibility_criteria|who_can_apply
The grant targets young entrepreneurs aged 18 to 39 who wish to start a business in Canada. Interested applicants must meet specific criteria related to their business project and personal qualifications.
- The business must be operational for less than 12 months.
- Applicants must present a detailed business plan and financial projections demonstrating viability.
- The project should facilitate the creation of at least one full-time job.
- Applicants must hold more than 51% of the voting shares.
- Commitment to work with a mentor is required.
- Applicants should possess relevant training for the project.
grant_single_labels|register
- Step 1: Verify Eligibility
- Ensure you meet all age, business operation, and ownership criteria.
- Confirm your willingness to engage with a mentor.
- Step 2: Develop Business Plan
- Prepare a comprehensive business plan demonstrating viability.
- Include financial forecasts and illustrate job creation.
- Step 3: Gather Required Documents
- Collect all necessary documents like proof of identification, business registration, and any relevant certifications.
- Step 4: Register on Futurpreneur Platform
- Create an account on Futurpreneur's portal to initiate the application process.
- Step 5: Complete the Application Form
- Fill in the online application form with accurate information.
- Attach the business plan and necessary documents.
- Step 6: Review and Submit Application
- Thoroughly review your application to ensure accuracy and completeness.
- Submit your application through the portal by the specified deadline.
- Step 7: Application Confirmation
- Receive a confirmation email acknowledging receipt of your application.
- Retain the confirmation for your records.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The combined loan limit with Futurpreneur and BDC funding can reach up to $60,000.
- Futurpreneur Canada offers ongoing support through business resources in addition to financial aid.
- Interest rates and specific repayment schedules will be outlined in the loan agreement.
- Businesses from all sectors are considered, but the viability of the business plan is crucial.
- The mentoring process is typically a two-year commitment.
Apply to this program
Unlocking Entrepreneurial Potential through Futurpreneur Canada
Futurpreneur Canada provides young entrepreneurs aged 18 to 39 with the necessary financial resources to launch their businesses successfully. With loans ranging from $5,000 to $20,000, and potential additional financing from the Business Development Bank of Canada, this grant fosters the growth of new and innovative enterprises.
Detailed Insight into Futurpreneur Canada's Support for Young Entrepreneurs
Futurpreneur Canada is a vital source of financial assistance and entrepreneurial support for young Canadians striving to transform their business ideas into thriving ventures. Tailored specifically for individuals between the ages of 18 and 39, this program not only offers crucial financial backing but also promotes sustainable business practices and long-term economic growth across the nation. By providing loans ranging from $5,000 to $20,000, with a unique feature of no required guarantees and a five-year term with a one-year principal repayment holiday, the grant is tailored to ease the financial burden on young business innovators in their initial phase of operation.
In addition to these key features, Futurpreneur Canada has strategically partnered with the Business Development Bank of Canada (BDC) to potentially augment the funding amount with an additional $40,000, significantly boosting the financial capacity of young entrepreneurs. This synergistic partnership underscores a shared commitment to cultivating a robust entrepreneurial ecosystem that nurtures new business ideas while minimizing financial constraints that often hinder startup growth.
Beyond financing, Futurpreneur Canada stresses the importance of mentorship, a component that is mandatory for all grant recipients. This mentorship involves engaging seasoned industry professionals who provide invaluable guidance, fostering the development of practical skills and strategic thinking. Through mentoring, young entrepreneurs gain insights into overcoming challenges, optimizing operations, and navigating the complexities of their respective markets.
The dedication to mentorship reflects a comprehensive approach to business development – recognizing that financial capital is just one aspect of entrepreneurial success. By integrating mentorship with financial support, Futurpreneur Canada ensures recipients not only survive but thrive in their business pursuits.
Furthermore, the eligibility criteria encourage businesses that contribute to employment creation, requiring that each funded project results in at least one full-time job. This condition highlights the program's broader aim of boosting employment rates, enhancing economic stability, and promoting diverse commercial innovation across Canadian communities.
Futurpreneur Canada stands as a beacon for young entrepreneurs by offering a blend of financial aid and strategic guidance to bridge the gap between innovative ideas and successful business establishments. This grant is more than a financial lever; it is a comprehensive support system designed to empower the next generation of Canadian business leaders by instilling financial prudence and equipping them with the necessary tools to adapt and excel in an ever-evolving business landscape.
