Funding guide
Startup funding in Canada and Africa: 5 programs to know
Updated
Before you pitch investors, there is funding that takes no equity: loans, grants, tax credits and accelerators. Here are five solid programs with their amounts and conditions, checked in November 2026. Rules change: always confirm on the official site before applying.
The programs at a glance
| Program | Where | What it provides | Who qualifies |
|---|---|---|---|
| Futurpreneur | Canada | Loan up to $75,000 (with BDC) + 2 years of mentorship | Entrepreneurs aged 18 to 39 |
| NRC IRAP | Canada | Up to 75% of an innovation project’s cost | Incorporated businesses, up to 500 employees |
| SR&ED tax credit | Canada | 35% refundable tax credit on R&D | Canadian-controlled private corporations |
| Tony Elumelu Foundation | Africa (54 countries) | US$5,000 non-refundable + training and mentorship | Young African founders |
| Google for Startups Accelerator: Africa | Africa | 3 months of equity-free support + product credits | Tech startups with traction |
Futurpreneur (Canada)
Futurpreneur lends up to $75,000 to entrepreneurs aged 18 to 39: up to $25,000 from Futurpreneur, matched with up to $50,000 from BDC, plus two years of one-on-one mentorship. A Side Hustle stream goes up to $25,000.
NRC IRAP (Canada)
The National Research Council’s Industrial Research Assistance Program funds up to 75% of the cost of technology innovation projects (project-related salaries and contractors). You need an incorporated, for-profit business with up to 500 employees. Sole proprietorships and partnerships are not eligible.
SR&ED tax credit (Canada)
Canadian-controlled private corporations can earn a 35% investment tax credit on qualifying R&D spending, 100% refundable on current expenditures, up to a $6 million expenditure limit for tax years beginning after December 15, 2024. Above that, the basic rate is 15%.
Tony Elumelu Foundation (Africa)
The Tony Elumelu Foundation Entrepreneurship Programme gives US$5,000 in non-refundable seed capital, intensive training and mentorship, open to founders from all 54 African countries. In 2026, applications ran from January 1 to March 1 on TEFConnect.
Google for Startups Accelerator: Africa
A three-month, equity-free program with mentorship and product credits for tech startups that already have traction, preferably in AI or machine learning. The 2026 cohort accepted applications until March 18, 2026.
How to improve your chances
- 01Have a live product, even a simple one: an MVP is worth more than an idea
- 02Show first users or first sales
- 03Prepare a clear pitch deck and financial model
- 04Pick programs that match your stage and your country
- 05Apply early: many programs have yearly deadlines
Our investor kit prepares your pitch deck, financial model and a targeted list of funds, investors and programs in Canada and Africa.
Frequently asked questions
Are there grants to start a business in Canada?
Yes, but most fund innovation or R&D rather than the launch itself. To get started, Futurpreneur (loan and mentorship) is often the first step; NRC IRAP and SR&ED come later.
What funding is there for startups in Africa?
The Tony Elumelu Foundation is open to all 54 African countries. There are also national funds and programs, for example in Côte d’Ivoire or Rwanda; our investor kit includes a list tailored to your country.
Do I have to give up equity to get funded?
Not for the loans, grants and tax credits listed here, nor for Google’s accelerator. Equity investors, on the other hand, take shares.
Sources
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