Today, Startup Canada opened applications for its Startup Canada Community Investment Fund, which invests in high-impact, entrepreneur-driven initiatives that create opportunities for greater connectivity of entrepreneurs to support, investment, customers, and supply chains.
“As startups and small businesses are the main drivers of job creation and innovation, building entrepreneurial competencies is the imperative,” said Victoria Lennox, CEO of Startup Canada. “The Startup Canada Community Investment Fund gives local communities much-needed seed funding to fill gaps in the current support system to help entrepreneurs develop scalable and competitive businesses.”
Startup Sault, Startup Nanaimo, Startup Prince George, Startup Fredericton, and Startup Charlottetown were named the first recipients of the Fund.
Applications for the Startup Canada Community Investment Fund are open to official Startup Canada Communities twice a year. In spring of this year, Startup Sault, Startup Nanaimo, Startup Prince George, Startup Fredericton, and Startup Charlottetown were named the first recipients of the Fund. The funded initiatives included an entrepreneurship conference, development of a co-working space, establishment of an entrepreneurship scholarship, an ecosystem mapping project, and signage to raise awareness of local entrepreneur support.
“The Fund allowed Startup Sault Ste. Marie to spearhead the development of both a Startup Ecosystem Canvas and a shareable infographic for the community,” said Nevin Buconjic, entrepreneur and leader of Startup Sault. “This has helped us to identify all of the resources available locally to entrepreneurs, profile the local startup environment, and help organizations better support it. This investment has already made a positive impact in the Sault as we continue to build a thriving startup community.”
Successful applicants will be rewarded with up to $3,000 per project, and will be announced in the fall during Startup Canada’s #EveryEntrepreneur Tour.
Applications for the second round of investments are due October 7, and can be filled out here.