© Guardian photo by Dave Stewart
Gillian McCrae, co-founder of @getgiftedPEI, a recent startup business in Charlottetown that benefited from financing and mentorship through the Canadian Youth Business Foundation.
Entrepreneurs looking to make the step into business on P.E.I. will now have easier access to funding and mentorship.
The Canadian Youth Business Foundation (CYBF) and Innovation P.E.I. announced a partnership this morning to make the path to the CYBF program a smoother one in the province.
Prior to the partnership, Island entrepreneurs could only access the program through the foundation’s office in Halifax.
CYBF offers young entrepreneurs aged 18 to 39 a startup package of mentorship and financing. They can access up to $15,000 through low-interest rate startup financing and may qualify for a match or double match of financing up to $30,000 via the foundation’s partnership with the Business Development Bank of Canada.
Innovation Minister Allen Roach says the partnership means the province is now better able to facilitate mentoring, guidance and support for aspiring Island entrepreneurs.
“It gives them a front door to walk through,’’ the minister told The Guardian.