I just came across an interesting article in The Toronto Star written by Daniele Viola. It is no secret she says, that young people have no shortage of innovative entrepreneurial ideas but implementing them is difficult. The challenge is the lack of access to proper funding and experience to grow significant businesses.
These challenges are despite the fact that small business is the bedrock of our economy. Consider the following facts:
- 1 million small businesses employ 48 per cent of Canada’s workforce
- they account of 30 per cent of our total GDP, and
- 25 per cent of all exports
(source for above: http://www.startupcan.ca/about/why-it-matters/)
The article details, Spin Master a well known Canadian toy company, which has teamed up with the Business Development Bank of Canada and the Canadian Youth Business Foundation to help find a solution to the funding and experience gap which young people face. The result is the Spin Master Innovation Fund, now in its third year. The program injects much needed funding and advice for young entrepreneurs.
Read the full article to learn more about this opportunity. If you wish to apply for the Innovation Fund visit: http://www.cybf.ca/cybf_programs/innovation/. The deadline for this round is May 21st.