Through this expanded collaboration with Futurpreneur, RBC supports its commitment to nation building by empowering 25,000+ young and Indigenous entrepreneurs with skills and training to launch 2,350+ businesses over the next five years.
TORONTO, Oct. 16, 2026 /CNW/ -- Royal Bank of Canada (RY on TSX and NYSE) today announced a commitment of more than $70 million to renew and expand its collaboration with Futurpreneur, a national non-profit that provides entrepreneurs ages 18–39 with the financing, mentorship and resources to help them launch, buy and grow businesses across Canada. This commitment will empower the next generation of business owners to help strengthen Canada's economic future while advancing two of RBC's core ambitions: helping Canadians prepare and adapt for the changing world of work, and helping more people meet their essential needs.
The $70 million-plus commitment is a combination of philanthropy, business loans and operating capital to support Futurpreneur's proven offering for the next generation of entrepreneurs, particularly those under 30 and young Indigenous founders.
This expanded support comes at a critical time for young people in Canada and for our economy.
With persistently high youth unemployment and dwindling entry-level jobs, more young people are turning to entrepreneurship as a pathway to meaningful work and economic opportunity. The timing is critical: 76% of business owners in Canada plan to retire over the next decade, while this country now has approximately 100,000 fewer entrepreneurs than it did in 2000 despite significant population growth.12
To create jobs and drive economic growth, Canada needs a new generation of entrepreneurs to start or buy businesses.
Significant boost for thousands of new business owners
Announced today alongside Minister Rechie Valdez, Secretary of State for Small Business and Tourism, the commitment will help accelerate the 30-year collaboration between RBC and Futurpreneur by establishing or expanding upon three integrated programs:
- Under 30 ("U30") Startup Program: With RBC support, including access to collateral-free loans, Futurpreneur will help founders under 30 turn ideas into action, bolstering its broader national startup programs for entrepreneurs ages 18–39.
- Indigenous Entrepreneur Startup Program: With culturally grounded workshops led by a dedicated all-Indigenous team, mentorship from experienced leaders and up to $75,000 in collateral-free loans, this program is designed to reduce capital barriers and provide tailored advice for Indigenous entrepreneurs ages 18-39.
- RBC Rock My Business Workshops: Financial literacy, business ideation and planning, peer mentorship for young entrepreneurs and 10 annual startup awards of $5,000 each.
Together, these programs are designed to help provide two of the fastest growing groups of business founders in Canada -- entrepreneurs under 30 and young Indigenous entrepreneurs -- with the knowledge, skills, mentorship and capital required to have the best chance of long-term business success. They strengthen RBC's commitment to helping Canadians prepare for the future of work and advancing reconciliation by driving inclusive economic growth in collaboration with RBC Origins.
"Canada's future depends on a new generation of young entrepreneurs building and growing their businesses right here at home. Through this collaboration with Futurpreneur, we're providing the financing, mentorship, and practical support they need to succeed -- because the founders we back today will be the leaders who carry Canada forward for years to come," said Sean Amato-Gauci, Group Head, RBC Commercial Banking.
30 years of collaboration for new businesses
Founded in 1996 with the early leadership and support of partners including RBC, Futurpreneur has helped more than 21,000 young entrepreneurs start, buy and grow businesses in every province and territory, creating jobs, strengthening communities and contributing to Canada's economic future. Futurpreneur's support helped kickstart many beloved Canadian brands, including Knix, Mejuri, SmartSweets, Chickapea, Property Guys and SkiptheDishes.
"For three decades, RBC has been an unwavering champion of the young entrepreneurs we've supported across Canada, helping them turn ambition into action and ideas into businesses that create jobs and strengthen communities. Today, when Canada needs more made-in-Canada businesses, we are deeply grateful for RBC's enduring commitment to the next generation of founders, particularly entrepreneurs under 30 and young Indigenous entrepreneurs, who are poised to be our country's most active business creators as long as they have the resources they need to succeed. RBC's $70 million commitment sends an important signal that Canada's largest company is committed to supporting our smallest businesses and the young founders who are helping drive our economy forward." – Karen Greve Young, CEO, Futurpreneur
Quick facts:
- 76% of current business owners are planning to exit the market, with an expected 100,000 fewer entrepreneurs compared to the year 2000. This opens an unprecedented opportunity for young entrepreneurs.3
- Roughly three in 10 of Gen Z Canadians point to being their own boss (33 per cent) or turning a passion into income (31 per cent) as their primary definition of success.4
- 81 per cent of Canadians agree that financial uncertainty acts as a catalyst, motivating more people to explore entrepreneurship as a way to address financial pressures.5
- Indigenous entrepreneurs are launching businesses at 5x the Canadian rate, but face structural barriers to success, including measurable disparities in education, income, health, access to capital and housing.6
- Young and Indigenous entrepreneurs are the fastest growing demographics of new business owners.7
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 105,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/peopleandplanet.
About Futurpreneur
Since 1996, Futurpreneur has empowered thousands of young entrepreneurs ages 18-39 to start, buy and grow made-in-Canada businesses that create jobs, strengthen communities and contribute to a more inclusive economy. Through accessible loan financing with mentorship and resources, Futurpreneur has helped more than 21,000 entrepreneurs build over 16,600 businesses in every province and territory. Futurpreneur-supported businesses generate $9.3 billion in annual GDP and have an 80% five-year survival rate – 27% above Canada's small business average. As Futurpreneur celebrates 30 years of inclusive impact, our work remains focused on helping the next generation of founders build thriving businesses. Futurpreneur is a founding member of the G20 Young Entrepreneurs' Alliance and leads the Canadian delegation to the annual G20 YEA Summit. Learn more at futurpreneur.ca.
For more information, please contact:
Sarah Kennedy, Senior Director Corporate Communications, RBC
[email protected]
Kara Collins, Senior Director, Marketing and Communications, Futurpreneur
[email protected]
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SOURCE RBC
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