Last week of the government announced an investment over $6 million to bring entrepreneurship programs into various schools in Southwestern Ontario. Today, the money continues to flow into the school programs as another $7.4 million is heading toward colleges and universities in the Greater Toronto Area.
Ontario is investing $20 million over two years in the CLA program and $5 million over two years in the OCEA program, and targeted towards the GTA will be $6.8 million from the Campus-Linked Accelerators (CLA) and $600,000 from On-Campus Entrepreneurship Activities (OCEA). The goal is to help students interested in building their own business gain the skills for success.
Reza Moridi, Minister of Research and Innovation, said, “Helping young entrepreneurs is another example of Ontario’s Youth Jobs Strategy at work. These programs will help harness their ideas, their vision and their enthusiasm and turn them into jobs for today and for tomorrow. Their innovative spirit will build Ontario’s future.”
Campus-Linked Accelerators:
- OCAD University is supporting increased student entrepreneurship engagement, including students from under-represented and at-risk communities, by leveraging its research expertise as well as utilizing local and global partnerships.
- The University of Toronto is establishing a central Office of Entrepreneurship to strengthen on-campus entrepreneurship activities and further build ties with the regional innovation ecosystem. It plans to expand its entrepreneurship programs to accommodate increased demand for on-campus accelerators.
Ryerson University will help students grow their for-profit and social ventures. Entrepreneurship zones will be created to support and provide training for as many as 3,000 budding entrepreneurs, including youth in the local community and under-represented groups. - Centennial College’s Campus-Linked Accelerator is focusing on eight priority neighbourhoods in Toronto. The program is designed for youth who are most in need and hardest to reach, often from diverse backgrounds or those facing multiple barriers.
On-Campus Entrepreneurship Activities:
- The George Brown College program includes education and training, mentorship and work experience with small- and medium-sized enterprises. The program will provide support for emerging entrepreneurs across multiple economic sectors and existing student-led businesses.
- Humber College will enhance its HumberLaunch accelerator and more than 25 entrepreneurship courses. It will also expand its network of business development support centres in the western GTA to help strengthen regional innovation and economic development.
- Seneca is launching the Health Entrepreneurship and Lifestyle Innovation Xchange (HELIX). A youth entrepreneurship initiative, HELIX is an opportunity for students and community youth to develop entrepreneurial skills and take their business ideas to the next level.