The federal government is supporting young entrepreneurs with $60 million in funding for Futurpreneur Canada.
The money will be split over five years.
Futurpreneur Canada offers loan financing, mentorship, and other resources to young Canadians looking to start a business .
"It's not a pitch competition, it is an opportunity to work with our business advisors and our coaches to help them to successfully launch a business," said Janis Nixon, Vice President of Programs and Partnerships.
Since 2001, Futurpreneur Canada has helped more than 17,700 young people launch over 13,900 businesses across Canada.
Markie Tuckett, owner of Timber + Plumb Kitchens and Cabinetry in Olde Riverside was supported through the program in 2018.
"It was a great process all the way through, I applied, I was helped building a business plan, financial projections, I had a mentor for two years," said Tuckett. "It was just a really great program and my business probably wouldn't have gotten off the ground if it wasn't for it so I am very grateful ."
Futurpreneur Canada has several programs to support young Canadians aged 18-39 pursue their business goals including Startup Program, Side Hustle Program, Indigenous Entrepreneur Startup Program (IESP) and Black Entrepreneur Startup Program (BESP).