The following statement was issued by the Honourable Joan Burke, Minister of Education. It was also read in the House of Assembly:

I rise today to extend congratulations to a team of business students from Memorial University. The ACE Memorial team has won the 2007 Students in Free Enterprise national championship. They will now compete globally at the Students in Free Enterprise World Cup in New York City this fall.

This competition brought together over 900 top Canadian student leaders, faculty and business professionals from 45 universities and colleges across Canada. The teams presented their community-based, entrepreneurial projects to many distinguished judges, including some of Canada�s leading CEOs and top executives.

The Memorial team stood out among their competitors due to their dedication to student business owners and new Canadians. Of special interest is Launch Pad. This is the first student-run incubation centre in the country. It provides students with resources to run a successful business. The centre�s four full-time clients are expected to generate revenues of over $500,000. In fact, ACE Memorial�s programs have impacted over 2,000 people throughout the province. Clearly, the group is fulfilling its mission which is so similar to the Provincial Governments � to support innovation, research and development, which in turn leads to economic growth.

These students are great examples of the ingenuity and innovative spirit which exists in post-secondary campuses across the province. They recognize the diverse opportunities that exist in Newfoundland and Labrador, and are helping others take full advantage of them.

These 67 talented young men and women who make up the ACE Memorial are the reason government is making such significant investments in post-secondary education.

The total expenditure announced in Budget 2007 is nearly $377 million, a 52 per cent increase in spending since 2003. We recognize that education is fundamental to our growth and prosperity as a province. It is a key element in our efforts to position our province and our people to take full advantage of emerging opportunities. For example, just this week I announced details on a $1 million investment for a new School of Ocean Technology. It will provide an excellent training ground for students and enhance the province�s reputation as a world leader in ocean technology.

I ask all Members of the House of Assembly to join me in congratulating our students and faculty on their recent win. We wish them the best of luck at the World Cup.

2007 05 16                                               2:30 p.m.