Applications are now open for the 2017 cohort of The Next 36, a mentorship program for the country’s leading undergraduates interested in entrepreneurship.

Based in Toronto, The Next 36 takes in about 36 undergraduate students each year and puts them through a rigorous program of entrepreneurship and academics. It’s known to be a blend of frank business assessment mixed with classroom sessions with leading business people and academics.

The program is open to undergraduates and recent grads from all academic backgrounds. Anyone interested has until Oct. 18 to apply. They can do so here using Kira Talent, a venture created during the 2012 cohort.

In less than five years, The Next 36 has won the backing of the presidents of nine Canadian universities across Canada and several prominent Canadian business leaders including Galen Weston, Paul Desmarais Sr., and Jimmy Pattison.

“The Next 36 identifies some of Canada’s most promising students and recent grads who are entrepreneurial and driven,” Janet Bannister, General Partner with Real Ventures, said in a statement. “It gives them an opportunity to start and grow their business with guidance from an amazing network of successful entrepreneurs and business leaders. I am thrilled to be a mentor to this impressive group and am confident they will make a significant contribution to the Canadian economy in the years to come.”

The Next 36 welcomes applications from individual entrepreneurs with founding teams in place as well as those looking to meet like-minded peers and launch new businesses. Last year, almost half of the ventures participating started before entering The Next 36.

“Many of Canada’s most promising entrepreneurs start working on an idea while they are still at school.” said Peter Carrescia, Managing Director of The Next 36. “Others are looking to meet big thinkers from across the country to build something new, and our program provides all of them with the same world class founder development.”

The statement said 36 exceptional undergraduates from across Canada are chosen through a rigorous national selection process last year. During the seven-month program, the young entrepreneurs build a business, while receiving unparalleled support that includes mentorship from Canada’s top business leaders, up to $50,000 from top venture capitalists, and academic instruction from some of the world’s top faculty. The 2016 cohort will showcase their start-ups Aug. 16, at MaRS Discovery District in Toronto.

The Next 36 and related programs have contributed to the success of industry-changing startups including, Bridgit, Kira Talent, Nymi, Revlo and Thalmic Labs in its first five years, as well as the creation of over 820 new jobs and over $50 million in funding raised by alumni since inception.