Northern Ontario Young Entrepreneur

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.

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