The Atlantic Canada Opportunities Agency will administer $5.2 million of federal spending to foster youth entrepreneurship in Atlantic Canada during the COVID-19 pandemic.
The money will take the form of grants for 15 community organizations, which will use it to pay for 21 initiatives aimed at supporting young business owners.
The funds will be delivered partly through ACOA’s Regional Economic Growth through Innovation program and partly through the organization’s Business Development Program, which aims to facilitate sustainable business practices.
Among the recipient initiatives will be the Youth Ventures program from the Newfoundland and Labrador Association of Community Business Development Corporations. Youth Ventures aims to encourage students and young adults to monetize their interests and hobbies.
“The energy and ingenuity of young Canadians are critical to the success of our economy,” said Minister of Economic Development and Official Languages Mélanie Joly in a statement. “We know that young entrepreneurs have been hit hard by COVID-19, and we stand with them.”
Disclosure: ACOA is a client of Entrevestor.
