Futurpreneur Canada recognizes that the needs of newcomer entrepreneurs may differ from those of other entrepreneurs. The Newcomer Program and application process is specifically designed to meet these unique needs.
Newcomer Program (NGO)
Futurpreneur Canada is a national non-profit organization that encourages and supports new Canadians, 18 to 39 years of age, who would not otherwise have the opportunity to learn about entrepreneurship and contribute to their community by establishing successful businesses. They recognize that the needs of newcomer entrepreneurs may differ from those of other entrepreneurs. The Newcomer Program and application process is specifically designed to meet these unique needs.
Programs and Services
- Pre-launch Coaching – Seasoned Entrepreneurs-In-Residence (EIRs) and community partners provide pre-launch coaching to help build solid business plans, financing strategies and more. There is also a free interactive business planner online available to anyone.
- Loan Program – Futurpreneur provides new residents of Canada start-up financing up to $7,500 with flexible repayment schedules and no principal payments in the first year. Entrepreneurs who qualify for the Newcomer Program also qualify for additional financing up to $7,500 through the Business Development Bank of Canada (BDC). This start-up funding will provide collateral needed to qualify for additional financing as well as develop a Canadian credit history.
- Mentor Program – The foundation provides a structured mentoring program for young entrepreneurs who receive a start-up loan. Protégés learn to make effective business decisions by working with an experienced business person during the start-up phase of their venture.
- 18 to 39 years of age
- be a Canadian citizen or permanent resident of Canada
- lived in Canada for less than 60 months from application date
- possess a solid working knowledge of English or French
- business will be a full-time career
- complete a viable business plan
- business is new or less than one year old
- provide three character-based references (at least two must be Canadian citizens)
- agree to work with a mentor for a minimum two years
- meet BDC’s eligibility requirements, which can be found at www.futurpreneur.ca