INGENUITY Start-Up Fund
One of the largest deterrents for students to starting a business is a lack of start-up funding and while some programs exist there is often difficulty accessing these programs due to eligibility restraints.
INGENUITY is looking to launch a startup fund for students to access and get the help they need to take their business from idea to launch. The process would start with a panel interview and an assessment of the business viability. If the student is successful through the interview process they would then proceed to building a working plan with Ingenuity so their progress could be monitored, along with mentorship and support throughout.
The amount of funding given would be based on what is needed to get to business launch, often it is equipment, marketing, and legal services. Students from all disciplines would be eligible to apply and would need to complete a business plan or business model canvas as a part of the application process. Students could apply for funds starting at $1000-$5000.
The fund would help support economic development within Thunder Bay and Northwestern Ontario and provide Lakehead students the opportunity to create their dream job.
INGENUITY will create a thriving community of entrepreneurial thinkers, powered by an innovative and collaborative space and contributing to the economic development of the communities it serves.