FUTURPRENEUR STARTUP PROGRAM
A joint initiative of Futurpreneur/BDC
To support startup businesses which are launched by entrepreneurs aged 18 to 39, holding a controlling majority. Startups, or business acquisitions for new entrepreneurs.
La Ruche acts as a referal third party for Futurpreneur, where a campaign project that qualifies to the basic eligibility criteria will be transfered and evaluated for a loan up to $60,000, in collaboration with the Business Bank of Canada (BDC).
- The entrepreneur(s) must be aged between 18 - 39 and own 51% of the business shares (i.e. control of the business)
- Must be a permanent resident or a Canadian citizen
- Have a good credit rating
- Agree to produce a business plan and a provisional budget
- Agree to being mentored over a 24 month period
- The project must be aimed at starting a new business, or aquiring one as a new venture
- The project must enable the entrepreneur to commit full-time in the following phase of it's developpement process
- The business must show significant sales for less than a year upon submittal (aka regular and significant income over time - not sporadic)
- The project must be aimed at setting up a stock company, a partnership or a sole proprietorship business
- The business must be able to produce sales in the short term duration following financing (3 months)
- The project aims at setting up a cooperative society (COOP) or a non-profit organisation
- The La Ruche campaign aims at financing R&D