The Ontario government announced today that it is investing an additional $6 million in Futurpreneur, a national non-profit organization that supports young entrepreneurs, to help nearly 1,000 people start and grow businesses across the province.
The funding will provide entrepreneurs aged 18 to 39 with access to financing, one-on-one mentorship, networking opportunities, and business planning tools. The Province says the investment is expected to support more than 3,800 future jobs while helping strengthen Ontario’s economy.
“Investing in Ontario’s young talent and the next generation of business leaders is key to securing a more competitive and resilient economy today and for the years to come,” said Associate Minister of Small Business Nina Tangri. “Through our continued partnership with Futurpreneur, our government is reducing the barrier to capital for young entrepreneurs.”
Tangri said the funding will help young business owners bring Ontario-made products to market, create jobs and contribute to local economies.
Futurpreneur provides collateral-free loans of up to $75,000 along with two years of mentorship and business resources through its Core Startup Program. The organization supports entrepreneurs aged 18 to 39 and has helped launch and grow more than 1,700 businesses in Ontario, creating over 7,300 jobs.
The new funding comes as Futurpreneur marks its 30th anniversary. With the latest investment, Ontario’s total support for the organization since 2021 has been $15 million.
Karen Greve Young, CEO of Futurpreneur, said the funding will help hundreds of aspiring business owners access the resources they need to succeed.
“This investment will ensure that hundreds of young entrepreneurs can access the financing, mentorship and resources they need to launch or buy successful businesses that will create jobs and strengthen local communities across the province,” she said.
The announcement is part of a broader provincial effort to support small businesses and entrepreneurship. Ontario says it has reduced the small business tax rate, providing more than $1.1 billion in relief and saving approximately 375,000 businesses up to $5,000 annually.
The Province says it is also investing $9.4 million over three years in the Summer Company and Starter Company Plus programs delivered through Ontario’s Small Business Enterprise Centres.
In addition, the government is contributing another $5 million to expand the Digital Competence Centre, which helps small and medium-sized businesses adopt new technologies and digital tools. The latest funding builds on the $20 million previously invested in the program.
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