RBC commits $70 million to support young and Indigenous entrepreneurs through Futurpreneur

What was announced

Royal Bank of Canada announced on October 16, 2026, that it is committing more than $70 million to renew and expand its partnership with Futurpreneur, a national non-profit serving entrepreneurs ages 18–39. The funding combines philanthropy, business loans, and operating capital to strengthen three integrated programs designed to support Canada's next generation of business founders.

The announcement comes as Canada faces an unprecedented entrepreneurship gap: 76% of current business owners plan to retire over the next decade, while the country has approximately 100,000 fewer entrepreneurs than it had in 2000 despite population growth. Young people and Indigenous entrepreneurs represent the fastest-growing demographics of new business owners.

Three programs launching or expanding

The expanded commitment establishes or expands three key programs tailored to different founder needs:

• Under 30 Startup Program: Helps founders under 30 access collateral-free loans and turn business ideas into action as part of Futurpreneur's broader national startup programs.
• Indigenous Entrepreneur Startup Program: Offers culturally grounded workshops led by an all-Indigenous team, mentorship from experienced leaders, and up to $75,000 in collateral-free loans for Indigenous entrepreneurs ages 18–39.
• RBC Rock My Business Workshops: Provides financial literacy, business ideation, planning, peer mentorship, and 10 annual startup awards of $5,000 each.

Track record and impact

Futurpreneur has spent 30 years supporting young entrepreneurs across Canada. Since its founding in 1996, the organization has helped more than 21,000 young entrepreneurs start, buy, and grow businesses in every province and territory. Futurpreneur-supported businesses have an 80% five-year survival rate—27 percentage points above Canada's small business average—and generate $9.3 billion in annual GDP annually. Well-known Canadian brands including Knix, Mejuri, SmartSweets, and SkiptheDishes received early support from Futurpreneur.

Who can apply and what to do next

Entrepreneurs ages 18–39 can access Futurpreneur's programs. The organization prioritizes founders under 30 and young Indigenous entrepreneurs. To learn about eligibility requirements, application timelines, and how to apply for loans or mentorship, visit Futurpreneur's official website at futurpreneur.ca or contact the organization directly. The source does not provide specific application deadlines or detailed eligibility criteria beyond age and target demographic focus.