Northern Ontario Young Entrepreneur Program
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NORTHERN ONTARIO YOUNG ENTREPRENEURSupporting Business Skills Development and Start-Up for Northern Youth |
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For too long, one of Northern Ontario’s most precious resources, its youth, has been exported never to return home. The NOHFC Young Entrepreneur program aims to mobilize a new generation of entrepreneurs and community builders in the North, securing a more prosperous future for tomorrow’s northern families and workers.
Who is Eligible?
- Residents of Northern Ontario, 18 to 29 who are planning on starting their own for-profit business in the North.
- The new venture cannot be an expansion or natural extension of a similar business owned by the young entrepreneur and/or family members or direct relatives.
What is Eligible?
Examples of costs that may qualify for funding include, but are not limited to:
- Capital costs related to starting a new business such as office furniture, fixtures and equipment.
Certain costs and projects will not be considered eligible for funding. These include, but are not limited to:
- Financing existing debts, purchasing an existing business or personal expenses etc.
- Costs incurred prior to the approved project start date.
Funding and Guidelines
- Generally, funding does not have to be repaid and may cover up to 85 per cent of eligible costs, to a maximum of $25,000 per project.
- The young entrepreneur must make a cash investment in the business equal to 10 per cent of the NOHFC’s conditional contribution.
- The proposed new business will operate as a full-time business and create a minimum of one new job in Northern Ontario.
Please download the Program Brochure below for complete details including eligibility, funding and guidelines.
Brochures and Applications |
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How to Apply
Send completed application forms to:
Northern Ontario Heritage Fund Corporation
70 Foster Drive, Suite 200
Sault Ste. Marie, Ontario
P6A 6V8
fax: 1-705-945-6701
email: nohfc.ndm@ontario.ca
For More Information call our toll free line 1-800-461-8329
