In a move to bolster the growth of innovative businesses in Nova Scotia, the province has announced a renewed commitment of $600,000 to Futurpreneur, a non-profit organization dedicated to supporting young entrepreneurs. The funding will provide collateral-free financing, mentorship, and resources to individuals aged 18 to 39 who aspire to transform their business ideas into thriving enterprises.
Futurpreneur’s mission centers around promoting entrepreneurship as a pivotal driver of economic diversification and employment generation. This infusion of funds will enable the organization to continue nurturing aspiring business owners, helping them navigate the challenging landscape of starting and growing a successful venture.
Highlighting the significance of this investment, Economic Development Minister Susan Corkum-Greek expressed, “Entrepreneurs with fresh ideas and a determination to succeed are transforming our economic landscape here in Nova Scotia. As a government, we’re striving to foster a culture of innovation and entrepreneurship, and this funding will help us achieve that by allowing Futurpreneur to continue supporting and mentoring aspiring business owners across the province.”
Under the terms of the three-year agreement, the province will provide $200,000 annually to Futurpreneur. This commitment aims to create a conducive environment for young entrepreneurs to flourish, fostering a new wave of economic prosperity within Nova Scotia.
Janis Nixon, Vice-President of Programs & Partnerships at Futurpreneur, hailed the partnership, stating, “Today’s announcement of renewed funding from the Province is an investment in inclusive economic development at a critical time for Nova Scotia’s economy. We are grateful for this continued partnership, which will provide resources for Futurpreneur to help young entrepreneurs launch 120 businesses over the next three years, including increased support of equity-deserving entrepreneurs through our tailored programs for Black and Indigenous entrepreneurs. It’s through the success of these young entrepreneurs that we will achieve economic prosperity throughout the province for years to come.”
Heather Stephen, co-founder and co-owner of Apartment 3 Espresso Bar, shared her personal experience benefiting from Futurpreneur’s support. “We wouldn’t be where we are today without the support we got from Futurpreneur when we were getting started. We were so excited to hear about this new investment because we know first-hand that it’s not easy for young entrepreneurs. Futurpreneur’s support – the resources, the funding and the mentorship – can make all the difference, and now that will be available to even more people in Nova Scotia.”
Futurpreneur, established in 1996, has played a pivotal role in fostering entrepreneurship among young individuals across Canada. To date, the organization has assisted over 17,700 young entrepreneurs in launching and growing small businesses. In the context of Nova Scotia, Futurpreneur has supported and mentored more than 650 new businesses, injecting over $16.5 million in collateral-free loan capital into the local entrepreneurial ecosystem.
