The entrepreneurial spirit and talent of this province�s youth was showcased on the international stage last week in New York City. The Honourable Joan Burke, Minister of Education, and the Honourable Kevin O�Brien, Minister of Business, offered congratulations today to the members of the ACE Memorial team on placing second at the Students in Free Enterprise (SIFE) World Cup held October 11-12. In May, the team competed in the national competition and was chosen to represent Canada at the international competition.

"We are extremely proud of these young women and men. They are a great example of how our post-secondary education system is truly preparing our students to compete in the global marketplace," said Minister Burke. "These enterprising university students are also providing a great service to the youth of Newfoundland and Labrador � they are introducing business basics to younger students. They are showing them the opportunities that exist with a little determination and imagination."

"These young men and women are showcasing the entrepreneurial spirit of Newfoundland and Labrador," said Minister O�Brien. "I recently met with these students and was deeply moved by their obvious pride in representing their province and their country. The Department of Business is proud to sponsor these individuals who are making a positive impact on the people of this province and are demonstrating to the world that the spirit of competition and entrepreneurial excellence is alive and well in Newfoundland and Labrador."

Advancing Canadian Entrepreneurship Memorial, or ACE, is an organization run by students and focused on entrepreneurship. The aim of ACE Memorial is to teach others about entrepreneurship and the free market. One of their key target groups is youth. For example, in April ACE Memorial sponsored a career fair for students on Bell Island. They spoke to students about the opportunities for young people in rural Newfoundland and Labrador.

Another ACE Memorial initiative is called Virtual Memories. Through a unique partnership with a local elementary school, ACE Memorial members showed Grade 6 students the skills needed to start their own business. ACE members mentored the 21 students in accounting, presentation, and production. Using the skills taught to them by ACE Memorial, these students created, marketed and sold an interactive DVD.

ACE Memorial has also traveled throughout the province teaching business skills to students. The team has traveled over 3,000 kilometres to teach young people about entrepreneurship and business in Newfoundland and Labrador.

"The Williams Government is committed to unleashing the innovative spirit of our province," said Minister Burke. "It is wonderful to see our university students embracing this goal. The work of these young entrepreneurs encourages our young people to not only recognize opportunities, but to create opportunities for themselves and our province. On behalf of the Government of Newfoundland and Labrador, I congratulate each member of the team and wish them all the best for the future."

-30-

Photo #1

Media contacts:

2007 10 15                                                     10:45 a.m.