The federal government says it is giving $3 million to a charity that supports young Canadians developing socially conscious businesses.

Finance Minister Bill Morneau made the announcement on Wednesday with Craig Kielburger, co-founder of the WE Charity.

The money will go to the WE Social Entrepreneurs initiative, which provides skills building, mentorship and financial support to social enterprises led by young people.

WE says the money will help create 200 “youth-led enterprises” that address social issues at a community level.

The charity says the cash will also help 30 social enterprises that have already been established get to a point where they can pitch investors.

It says WE Social Entrepreneurs is made up of two different sections: WE Incubate will focus on youth under the age of 25, while those under 35 can access WE Scale Up.

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