How to Fund Your Business Startup
Forward-thinking students and young professionals throughout Canada are ripe with creative ideas. With many of the country’s top universities prioritizing entrepreneurial innovation, there’s growing need for startup funding throughout the country.

Even the novice entrepreneur is aware that his or her vision requires funding to become viable. Anyone with experience getting a startup off the ground will tell you just how difficult it can be to bring a unique idea to market.

Fortunately, the environment for entrepreneurs in Canada is becoming increasingly supportive as a number of great organizations are dedicated to fostering successful business ventures by helping aspiring innovators reach their goals. According to the G20 Entrepreneurship Barometer published by Ernst & Young in 2013, Canada ranked as the second most appealing country in the world in terms of its’ burgeoning entrepreneurial environment.

This trend has continued in the past two years as both private corporations and the provincial government have dedicated additional resources towards the creation of a stimulating entrepreneurial environment in Canada. Let’s examine a few key funding sources available for business startups in Canada.

Startup Canada

This volunteer-run organization is based in Ottawa. According to their website, “[They] are entrepreneurs working together to build an environment and culture for entrepreneurial growth and success.” By connecting young startups, entrepreneurs, and small business owners with established community and government leaders, as well as experienced entrepreneurs, Startup Canada helps to provide aspiring innovators with trends and tips for making their venture successful.

FounderFuel

FounderFuel is based in Montreal and they provide critical access to a network of investors, mentors, and knowledgeable entrepreneurs. Aspiring startups must apply for the 12-week program designed to provide the necessary resources for their project to succeed. According to their site, “FounderFuel is a top tier, mentor-driven accelerator that helps early stage web, mobile, and SaaS startups raise seed capital.”

Mars Centre

The non-profit organization based in Toronto works closely with public and private groups and businesses to provide free workshops, instructional guides, bursaries, and one-on-one advice for individual entrepreneurs. Their mission is “To drive economic and societal prosperity by harnessing the full potential of Canadian innovation.”

Canadian Youth Business Foundation

Also known as Futurpreneur Canada, this organization “has been fueling the entrepreneurial passions of Canada’s young entrepreneurs for nearly two decades.” To date, they have provided support for more than 8,300 young business owners and helped launch 6,400 Canadian businesses.

Small Business Financing Program

This government-sponsored program is designed to help aspiring startups garner greater access to loans and information on grant funding available across Canada. The program has no age restrictions limiting who is eligible to apply, and those selected gain access to nearly $50,000 in funding, as well as a host of useful startup resources.

Ryerson University’s Digital Media Zone

This startup accelerator and business incubator is located at Toronto’s Ryerson University and it currently accepts applications from students and non-students alike. Entrepreneurs who are accepted into the program will have access to mentoring, networking, and workspace to hone their ideas and set the stage for a successful business venture.

Pick Your Funding Source

As you can see, funding sources for aspiring Canadian innovators are amply available. Finding the right funding source for your venture, as well as helpful advice on building a successful company, is now a matter of vetting a number of potential accelerators and incubators to determine which will be most useful for your unique business needs.

The funding sources mentioned above are just a few great options for organizations that can help you take your penchant for innovation and turn it into a feasible business that’s going to last. Don’t hesitate to investigate these funding sources further to find which program will be right for you!

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Posted by: DSR
Monday, November 2, 2015
Tag: Business Start Ups
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