Student Business Grants in Canada: Current Grants + Tips for Applying
Student entrepreneurs in Canada face unique challenges in accessing the financial resources needed to turn their innovative ideas into successful businesses. Business grants provide a vital opportunity for students to secure non-repayable funding to support their entrepreneurial goals. These grants are specifically designed to promote innovation, encourage skill development, and foster economic growth, offering an accessible starting point for young visionaries.
Key Takeaways
- Business grants are non-repayable funds designed to support student entrepreneurs in launching or growing their businesses.
- Funding is provided by federal and provincial governments, as well as non-profit organizations.
- Eligibility often includes being a current student or recent graduate, having a viable business plan, and aligning with specific grant objectives.
- Funds are typically used for startup costs, research and development, training, and community projects.
- Alternatives to grants include loans, startup programs, and equity investment opportunities.
What is a Business Grant?
A business grant is a financial award provided by government agencies, non-profit organizations, or private entities to support businesses without the requirement of repayment. These grants aim to promote entrepreneurship, stimulate economic growth, and encourage innovation.
For students in Canada, business grants are a crucial resource to help overcome financial barriers, providing the means to launch or grow their businesses.
In Canada, grants are categorized into several types:
- Activity Grants: Focus on specific business functions, such as startup funding, marketing, or research and development. These grants support specific activities critical to business success.
- Audience Grants: Target specific groups like students, women, or minority entrepreneurs. These grants aim to foster inclusivity and support underrepresented groups in business.
- Industry Grants: Tailored for particular industries such as technology, agriculture, or clean energy, aligning with government or organizational priorities.
- Regional Grants: Designed to stimulate economic growth in specific provinces, territories, or communities, often addressing regional challenges.
Business Grants vs Business Loans for Students in Canada
Both business grants and loans are essential funding options, each with distinct advantages and challenges. Grants provide non-repayable funds, which are particularly beneficial for students who may lack financial resources. However, grants are competitive and come with strict application requirements.
Loans offer greater flexibility in funding but must be repaid with interest, introducing financial risk. For student entrepreneurs, understanding these trade-offs is key to making the right decision.
Comparison: Business Grants vs Business Loans
| Feature | Business Grants | Business Loans |
|---|---|---|
| Repayment Required | No | Yes, with interest |
| Financial Risk | Low | High |
| Eligibility | Specific and competitive | Based on creditworthiness and business plan |
| Usage Restrictions | Restricted to specific purposes | Broad usage |
| Application Process | Rigorous and detailed | Easier, depending on lender |
Types of Student Business Grants in Canada
There are various types of business grants to support your entrepreneurial journey, from federal and provincial governments as well as non-profit organizations.
Federal Government Grants for Student Entrepreneurs
The Canadian federal government provides grants specifically designed to support students in their entrepreneurial endeavors. These grants aim to foster innovation, enhance skills development, and promote economic participation among young entrepreneurs. Typically, these grants fund activities such as startup capital, research and development, technology adoption, and community-driven initiatives. They support a broad range of industries, including technology, clean energy, social enterprises, and cultural projects.
Provincial Government Grants for Student Entrepreneurs
Provincial governments in Canada provide grants tailored to address regional economic needs and support student entrepreneurship. These grants are designed to stimulate local economies, promote skill development, and encourage the growth of new businesses. Provincial grants typically fund activities such as business startups, expansions, workforce training, and community-led economic projects. The industries supported often reflect the province’s priorities, such as tourism, technology, agriculture, and green energy.
Non-Profit Grants for Student Entrepreneurs
Non-profit organizations in Canada offer grants aimed at empowering student entrepreneurs, fostering social innovation, and promoting equitable access to resources. Non-profit grants often focus on funding activities like capacity building, community development projects, and mentorship programs. These grants support industries such as education, health, environmental sustainability, and arts and culture.
Eligibility Criteria for Student Business Grants
Eligibility criteria for student business grants vary but generally include the following key requirements:
1. Enrollment Status
2. Business Stage
3. Innovation
4. Industry Alignment
5. Project Feasibility
6. Location-Specific Criteria
7. Documentation
Meeting these criteria will enhance the likelihood of securing funding and achieving entrepreneurial success.
Applying for Student Business Grants: Top 5 Tips
1. Research Available Grants
2. Craft a Strong Application
3. Demonstrate Innovation
4. Prepare Accurate Documentation
5. Seek Guidance
Alternatives to Student Business Grants in Canada
Business Loans & Credit for Student Entrepreneurs
For students who may not qualify for grants or need additional funding, business loans are a viable alternative. Programs like the Canada Small Business Financing Program offer loans with favorable terms, including lower interest rates and flexible repayment schedules. These loans can provide the capital needed for equipment purchases, operational expenses, or scaling efforts. Establishing good credit and preparing a strong business plan is critical for securing loans tailored to student entrepreneurs.
Startup Programs for Student Entrepreneurs
Startup programs, including accelerators and incubators, provide a blend of funding, mentorship, and networking opportunities tailored for student entrepreneurs. These programs often focus on skill development and connect participants with potential investors and industry experts. Participating in such programs can enhance your business strategy and provide access to additional funding and partnerships, enabling long-term growth.
Equity Investment Programs for Student Entrepreneurs
Equity financing, such as funding from angel investors or venture capitalists, is an excellent option for students with scalable and high-growth potential business ideas. In exchange for equity, these programs provide significant funding and access to experienced mentors who can help navigate the challenges of growing a business. This alternative can accelerate the development of your business but requires careful consideration of ownership sharing and long-term goals.
Student Business Grants in Canada: Current Grants Available
In the sections below you’ll find a sample of the federal and provincial business grants currently available for student entrepreneurs in Canada:
No specific amount has been identified.
Grant
Description:
Persons with disabilities may have specific needs in their workplace. In some cases, the work environment must be adapted according to the person’s abilities to meet the requirements of the job. In these situations, it is possible to reimburse the employer for certain costs necessary for the integration or retention of this clientele.
$3,000
Grant
Description:
Summer Company is an amazing opportunity for young entrepreneurs to run their own business over Summer. Participants can expect to receive:
start-up money to kick-off a new summer business
advice and mentorship from local business leaders to help get the business up and running
Learning how to run your own student business is one of the best summer jobs you can have. You get to be your own boss while learning what it takes to manage a business. You’ll develop skills in areas such as sales, marketing, bookkeeping, customer relationship management, networking and more
N/A
Subsidy, Grant
Description:
The Wage Subsidy program can help you make your application more attractive and make it easier for an employer to recruit you. You will increase your chances of finding sustainable employment or acquiring skills that will be useful in another job.
$5,400
Grant
Description:
The Veterinary Student Placement Program provides veterinary students with applied learning opportunities and gives them experience in rural Nova Scotia’s agriculture industry.
$475 weekly $370 weekly The financial assistance you receive depends on your situation and will be determined at the time of your registration. You may also be entitled to reimbursement of certain expenses, such as child care costs; transportation costs; training costs; accommodation costs, if you have to travel to follow the training. “
Subsidy
Description:
If you want to take training to find a job, you could receive financial assistance by participating in the Workforce Training Measure.
Varies by project and applicant (for more check the detailed Calculation of financial aid for each eligible project devided by percentages.)
Grant
Description:
This component helps develop the general and advanced skills and knowledge of professionals and other stakeholders in the biofood sector on various themes linked to climate issues.
No fixed amount
Grant
Description:
Provide assistance in the form of coaching, technical advice and financial support to help eligible individuals start a business.
no fixed amount
Subsidy
Description:
PEI employers who hire students during summer may qualify for the employee wage subsidy offered through two separate student employment programs:
1. Jobs for Youth Program
This program supports students aged 15-29 working 8-12 weeks during summer and students must be returning to school in the Fall.
2. Post-Secondary Student Program
Supports full-time post-secondary students working a minimum of 12 to a maximum of 18 weeks during the summer. The exact number of weeks designated per placement will be based on factors such as but not limited to: position, wage, and the likelihood of opportunity for experiential learning. Students must be entering or returning to full-time post-secondary studies in the Fall.
$675,000
Grant
Description:
Increase awareness of the agri-food sector among the population and promote the quality of livestock by supporting agricultural exhibitions and sector exhibitions in Quebec.
No specific amount was identified.
Grant, Loan, Investment
Description:
Promote awareness among college students of French-language songs by supporting dissemination activities (professional shows and activities designed specifically for this clientele).
$1,750,000
Grant
Description:
The Recreation Partner and Facility Investment Program (RPFIP) aims to foster healthy, vibrant active communities throughout Edmonton.
$50,000
Grant
Description:
This component aims to encourage the production of journalistic information content by young people and/or intended for a young audience.
$50,000
Grant
Description:
This component aims to develop young people’s critical thinking with regard to media and information.
No funding involved
In-Kind Support
Description:
Have you recently left full-time postsecondary studies and started a new business in Ontario? If yes, apply for the One-Year OSAP Grace Period for Entrepreneurs to get more time before you must start making payments on your OSAP loans.
You have six months after leaving full-time studies when you don’t have to make OSAP loan payments. This is known as your six-month grace period.
If your six-month grace period has not yet ended and you are the owner or joint owner of an eligible new business, you may be eligible for a six-month extension to your existing grace period. This means you would get an extra six months before you must start repaying your Ontario Student Loan and/or the Ontario portion of your Canada-Ontario Integrated Student Loan issued through OSAP.
$15,000
Grant
Description:
Mitacs Accelerate Entrepreneur provides early-stage support to postdoctoral fellows (PDF) and graduate student entrepreneurs. Accelerate Entrepreneur funds student entrepreneurs to further develop the research or technology at the core of their business when hosted by an incubator facility. This helps student entrepreneurs to take real, meaningful advantage of the supports provided by the incubator, with the goal of commercializing the technology, product, or service rapidly. In a nutshell, they get paid to grow their company and get to market faster.
$12,180
In-Kind Support, Subsidy
Description:
This initiative aims to increase the interest of students at the Faculty of Veterinary Medicine of the University of Montreal in the practice of veterinary medicine in the Quebec biofood sector. It also aims to encourage students to practice in one of the designated regions.
$3,000
Grant
Description:
The program teach youth the practical skills for starting up a successful business during the summer break. We then coach and fund them to run it.
Varies depending on the specific call and project requirements.
Grant
Description:
The Government of Quebec offers financial support to Quebec organizations for the implementation of international cooperation and solidarity projects. This support is offered in particular according to the priorities of its international action set out in the International Vision of Quebec .
$50,000
Grant
Description:
The Call for Indigenous Cultural Development Projects program aims to increase the offer of activities, services and goods that significantly contribute to the Ministère’s objectives of strengthening and developing Indigenous cultures and communications. It also aims to meet the objectives of the 2022-2027 Government Action Plan for the Social and Cultural Wellness of the First Nations and Inuit.
Financial assistance granted by the Ministère makes it possible to conduct, over a specified period, defined actions that cannot be automatically renewed. The various calls for projects covered by the program include specific provisions according to the project type.
$125,000
Grant
Description:
The purpose of this component is to encourage organizations operating in Quebec to take concrete action to increase mastery of appropriate French terminology in workplaces associated with priority sectors of activity.
It supports projects to promote French which aim to increase knowledge and use of quality French terminology specific to a field of activity.
No specific amount was identified.
Subsidy
Description:
The Wage Subsidy program allows employers to obtain financial assistance to support the reception and employment integration of people of determination, but who face obstacles in finding employment.
$2,000,000.00
Loan
Description:
FCC provides financing to young entrepreneurs under 40 to start or expand their business. They can purchase shares in, buy, or improve an agricultural or food-related business, and take their dream business to the next level.
No fixed amount
Loan
Description:
If you’re looking to transfer farm assets or you’re a young farmer looking to build your farm, the Transition Loan can help make it happen. It allows you to make payments so you can manage your cash flow or build equity quickly – the choice is yours.
$10,000.00
Grant
Description:
The Youth Innovation Component encourages youth to find accessibility barriers in their communities. They work with local organizations to improve accessibility and safety in community spaces and workplaces.
No fixed amount
Grant, Subsidy,
Description:
If you are an immigrant and have no work experience in North America, the Program to Assist with the Integration of Immigrants and Visible Minorities into Employment (PRIIME) could help you. It could give you the opportunity to acquire initial work experience in Quebec in your field of expertise.
Your new employer may receive wage support and a subsidy for additional costs, such as
the salary of an escort;
training costs;
the implementation of specific integration activities.
$21,500.00
Subsidy
Description:
Digital Skills 4 Youth PEI’ (DS4Y PEl) is a new internship opportunity for Island youth that provides financial support to Island businesses or non-profit organizations who will act as ‘Intern Host Organizations’ (IHOs).
$50,000.00
Grant
Description:
Digital Greenhouse is a digital innovation initiative for Canadian individuals, groups and organizations. It supports short-term projects that leverage digital technology to address sectoral and digital challenges, including:
1. the development of new digital tools and solutions that increase the resilience, sustainability, and discoverability of the arts sector,
2. the development of sector-wide and cross-sector collaborations, partnerships, and networks to support innovative digital business models, revenue models and monetization strategies,
3. sectoral approaches aimed at strategically increasing the digital/data literacy and ongoing digital transformation of the arts sector,
4. addressing challenges and exploring digital solutions related to accessibility, equity, diversity, decolonization, social justice, and climate responsibility created by, or relevant to, the digital world,
5. addressing challenges and exploring solutions related to the lack of access to digital infrastructure for remote regions and Northern and under-represented communities.
No specific amount was identified.
Grant, Subsidy
Description:
Meeting the needs in attraction, integration and retention of talent, among others.
Promote, develop and consolidate a culture of science and innovation.
Improve the competitiveness and productivity of businesses.
Develop new markets, new partnerships or new collaborations.
$8,000
Grant
Description:
Murals are an important form of public art that can have a profound and positive impact on a city and its well-being.
No specific amount has been identified.
Grant
Description:
This program offers technical assistance to employers who are considering implementing collective dismissals. Besides, it provides financial support to help cover the expenses associated with running the committee and carrying out reclassification activities.
$3,000
Grant
Description:
The Summer Company program (opens in new window) supports eligible young student entrepreneurs, aged 15 to 29, looking to launch and operate a small business during the summer.
No fixed amount
Loan
Description:
MASC’s Bridging Generations Initiative offers Flexible Financing to young farmers to assist them through the critical purchase and start-up period of farm operations.
No funding involved
In-Kind Support
Description:
The Booster Early Adopter Program provides entrepreneurs and post-secondary education students with civic ideas/problems and an access point to connect with the City as an early adopter of new technologies and applications. Prototype ideas, that strategically align with corporate priorities and address civic challenges, can then be tested in our living lab for civic innovation, and if successful, scaled/deployed into municipal operations and services, and move through the continuum of ecosystem support.
$1,500
Grant
Description:
The Agriculture Skills Student Bursary Program introduces agriculture to students as a career option and helps address the labour gap for agriculture producers in Nova Scotia.
$106,666
Grant
Description:
Mitacs Accelerate Fellowship provides a long-term funding and internship option for master’s and PhD students. Recipients can also access professional development training that helps them ensure project success and gain in-demand career skills.
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Maurice
