Indigenous Youth Entrepreneurs (IYE) Program

Overview of the Indigenous Youth Entrepreneurs (IYE) Program program:

The Indigenous Youth Entrepreneurs (IYE) Program, delivered by Ulnooweg Development Group in partnership with the National Aboriginal Capital Corporations Association (NACCA) and Indigenous Financial Institutions (IFIs), is a national initiative aimed at fostering Indigenous youth entrepreneurship. Ulnooweg exclusively administers the program for the Atlantic Provinces, including Newfoundland and Labrador, Prince Edward Island, Nova Scotia, and New Brunswick. The IYE Program is designed to remove financial barriers and enhance business readiness by combining micro-loans, non-repayable grants, and business advisory support. It encourages Indigenous youth aged 19 to 39 to start or expand businesses through flexible financing and training opportunities. The program provides up to $12,500 in repayable loans and a non-repayable grant of up to 45% of total project costs (maximum $11,250). Eligible projects can have total costs of up to $25,000, and participants must contribute 5% equity. Loans carry an 8% interest rate, with no payments or interest for the first 90 days, and a $150 application fee. This initiative not only provides access to capital but also builds credit, confidence, and financial literacy among Indigenous youth. It encourages both full-time and part-time entrepreneurship and offers hands-on support from account managers and business advisors. By combining access to capital with mentorship and financial education, the IYE Program strengthens Indigenous economic participation and community development across Atlantic Canada.

Benefits of the Indigenous Youth Entrepreneurs (IYE) Program program:

• Provides flexible micro-loan and grant support for Indigenous youth entrepreneurs.
• Offers non-repayable funding covering nearly half of eligible project costs.
• Encourages credit building and improved financial literacy.
• Supports both full-time and part-time entrepreneurship.
• Provides access to mentorship, workshops, and advisory services through Ulnooweg and Indigrow Business Management.
• Helps fund startup and expansion costs, marketing, and equipment purchases.
• Promotes economic self-determination among Indigenous youth in Atlantic Canada.
• Strengthens community-based entrepreneurship and innovation.

Eligibility criteria of the Indigenous Youth Entrepreneurs (IYE) Program program:

• Applicants must meet the following criteria:
• Be Indigenous youth aged 1939.
• Reside in Atlantic Canada (Nova Scotia, New Brunswick, Prince Edward Island, or Newfoundland and Labrador).
• Provide proof of Indigenous ancestry.
• Own and control at least 51% of the business.
• Have a financially and technically viable business plan.
• Be in good financial standing (exceptions may be considered).
• Not be bankrupt or involved in unresolved financial or legal disputes.
• Eligible Business Types: Sole proprietorships, partnerships, corporations, co-operatives, or social enterprises.
• Ineligible Applicants: Non-profits, government entities, or passive real estate ventures.