RBC Pledges $70 Million to Support Young Entrepreneurs
The funding aims to launch 2,350 businesses and provide training for 25,000 young and Indigenous entrepreneurs.
Updated on Oct. 16, 2026 in Remote Work
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Royal Bank of Canada has pledged $70 million to the Toronto-based non-profit Futurpreneur to bolster entrepreneurship among Canadians under age 30. This initiative focuses on fostering new business ventures, particularly for young and Indigenous founders.
Why it matters
The bank initiated this support after identifying a concerning decline in the share of young Canadians owning businesses that provide employment. By facilitating access to capital, the program aims to reverse these trends and encourage growth among self-employed youth.
The program offers collateral-free loans of up to $75,000 to eligible entrepreneurs. This follows a period where self-employment among Canadians aged 20 to 39 topped 800,000, with 80% of these individuals operating without staff.
The players
Royal Bank of Canada
This is a major Canadian multinational financial services company that provides a wide range of banking and investment products.
Futurpreneur
Based in Toronto, this national non-profit organization provides financing and mentorship to help young Canadians launch and grow small businesses.
The details
The funding will be channelled through Futurpreneur's Indigenous Entrepreneur Startup Program to provide essential financial and educational resources. By targeting the youth demographic, the organization intends to bridge the gap for founders who face traditional financing hurdles.
Timeline
2021: RBC funded the Black Entrepreneur Startup Program.
2025: Self-employment reached a two-decade high.
Market Landscape
The initiative follows the precedent set by the Black Entrepreneur Startup Program and reflects a broader industry shift toward targeted financial inclusion. By prioritizing these demographics, RBC aims to capture emerging market growth while addressing systemic barriers to capital.
Young and Indigenous entrepreneurs looking for funding can now access new collateral-free loan opportunities through Futurpreneur. This program simplifies the initial financial requirements for those launching their own businesses in the current market.
The takeaway
Supporting youth entrepreneurship is vital for diversifying the economy and creating sustainable employment in the private sector. Aspiring business owners should explore the specific eligibility criteria of the Indigenous Entrepreneur Startup Program to see if it fits their growth plans.
Further reading
Learn more about local career and business initiatives in the Canada Remote Work section.
Source note: This article includes information reported by The Logic.
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