Building a new business from the ground up is a daunting task, even for seasoned businessmen. For those with little experience the climb to success can seem insurmountable. However, there are organizations out there to support those willing to try.
Startup Garage is an Ottawa based summer entrepreneurial program, offering youth between the ages of 18 and 29 a chance to test their business model risk-free.
Run by the University of Ottawa, Startup Garage provides essential tools for starting a new business. Applications for the 2016 program opened on Nov. 2.
By simply filling out an online form, interested individuals can see their business dream become reality. It is a competition-based program, but Catherine Geci, the director of Startup Garage, said there are many benefits to just applying.
“You will definitely get feedback on your business idea, so that’s one benefit. We are always open to discussing the business idea with you as you are completing the form,” Geci says.
If selected, the entrepreneur(s) will receive up to $20,000 in funding, office space at Invest Ottawa, mentorship and market training. The program has been running for the last six years and receives funding and support form a variety of sources such as Capital Entrepreneurs, Gowlings, and Adjoy. Last year, 35 applications were received but only 12 were selected to receive funding and support.
One of the selected businesses last year was CigBins. The company collects and recycles discarded cigarette butts while providing jobs to those with mental disabilities.
Ajmal Sataar, one of the cofounders of CigBins, said Startup Garage provides youth with the confidence to take their business to the next level. CigBins will soon be expanding to Gatineau, fo
Sataar estimates that there are 40 bins located throughout the city. The cigarette butts are collected and recycled on a weekly basis. Their customers include property management companies and business improvement areas. The paper and tobacco is composted while the plastic in the filter is sterilized and repurposed into new products.
“It’s a social purpose business that has an economic benefit, a social benefit as well as an environmental benefit,” Sataar says.
Inspiration for the business came from an article, which stated that cigarette butts were the most littered item in the world and accounted for 37 per cent of all visible waste.
Sataar emphasizes that if you want to make your entrepreneurial business work you need to be passionate.
“A lot of people say do what you love. It’s difficult to actually find a job that allows you to do what you love, so build it,” Sataar says. “The business that you create, you need to love it to the point where you don’t mind working on it for 60 or 70 hours a week.”
After the three summer months of involvement with Startup Garage, Geci says that they try and stay in touch with the fledgling companies.
“When things come across out desk that might be of interest to certain companies, for example, funding programs or competitions, we definitely send the information to [the companies] and try to keep in touch,” Geci says.
The application deadline for the next session is Feb. 4.