Ottawa is investing more than $500,000 to support young entrepreneurs on P.E.I.
The Atlantic Canada Opportunities Agency (ACOA) is providing $518,000 in funding for Charlottetown’s Ignition Start Up Zone Inc.
The funding includes:
- $131,250 to offer specialized mentoring in investment readiness and investment attraction,
- $105,000 to support executive in-residence initiative for startup companies and engage high-level expertise to help companies scale and compete in the global market and
- $281,750 to provide 12 months of programming and support services to start-up, early-stage and high-growth potential companies on P.E.I.
“The economic prosperity of Prince Edward Island is tied directly to the success of Island entrepreneurs and small businesses," Charlottetown MP Sean Casey said in a statement.
“The Startup Zone helps to create the right conditions for ideas to thrive, for creativity to flourish and for young entrepreneurs to grow," said Casey.
"This funding will continue to strengthen the entrepreneur community and promote, new, innovative businesses.”
The funding is part of $5.3 million ACOA is contributing to support 22 initiatives led by 16 organizations that focus on increasing entrepreneurship skills, awareness and opportunities for youth in Atlantic Canada.
“The energy and ingenuity of young Canadians are critical to the success of our economy – not just in the future, but right now,’’ says Mélanie Joly, minister responsible for ACOA.
“We know that young entrepreneurs have been hit hard by COVID-19, and we stand with them."
