After a busy summer with 419 Youth Ventures participants, nine people were selected as winners and were presented awards at a ceremony in Ferryland today. Throughout the summer, Youth Ventures provided young entrepreneurs with mentoring, business counseling and guidance to help them run their own businesses.

Youth Ventures is coordinated by the Newfoundland and Labrador Association of Community Business Development Corporations (CBDCs) and operates 23 sites across the province. The following awards were presented to those involved in the program:

"Youth Ventures is a self-motivating, gratifying experience for our youth participants," said Sylvia Alexander, chairperson, Newfoundland and Labrador Association of CBDCs. "In addition, this program provides the skills needed to run a business and acts as a catalyst in building self-confidence and leadership. And, by focusing on our youth, we are helping to build the foundation for a strong business climate in Newfoundland and Labrador."

Youth Ventures is supported by the Atlantic Canada Opportunities Agency and received $281,780 in funding earlier this year from the Young Entrepreneur Development Initiative.

"Canada�s new government applauds the hard work of the talented young entrepreneurs who participated in Youth Ventures this year," said the Honourable Loyola Hearn, Minister of Fisheries and Oceans and Regional Minister for Newfoundland and Labrador, on behalf of the Honourable Peter MacKay, Minister of Foreign Affairs and Minister of the Atlantic Canada Opportunities Agency. "It is inspiring to see young people excelling in the world of business, in particular the award winners who are showcased here today."

The initiative is also supported with $60,000 in funding provided by the Government of Newfoundland and Labrador, through the Department of Human Resources, Labour and Employment.

"Helping young people achieve their potential is a government priority and I am pleased to extend congratulations to this year�s Youth Ventures award recipients and note their success in a job well done," said the Honourable Paul Shelley, Newfoundland and Labrador�s Minister of Human Resources, Labour and Employment. "Youth Ventures is providing new opportunities for young people, particularly in rural parts of our province, to start and develop a business and this in turn positively impacts future growth in the economy."

Youth Ventures started in St. Anthony in 1992 and since then has helped more than 2,600 student entrepreneurs start businesses. Coordinators located throughout the province help youth aged 12-29 years to come up with business ideas, write business plans, market their businesses, and receive advice from mentors.

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2006 10 13                                        1:00 p.m.