Tourism, Culture, Industry and Innovation
August 22, 2019

Helping University Students Kick-Start Their Business Ideas

Supporting business development and innovation at post-secondary institutions helps foster entrepreneurship, creates more competitive businesses and builds a stronger economy. To that end, the Memorial Centre for Entrepreneurship is providing guidance, resources and mentorship to help more Memorial University students establish successful businesses.

The centre provides entrepreneurial students with access to foundational entrepreneurship training and startup funding, while providing guidance, support and opportunities to engage with the business community. Over the next three years, work will continue to foster new student startups through workshops and events, mentorship, pitch competitions, entrepreneurial work terms and internships. The centre will also focus on research topics related to the entrepreneurial ecosystem at Memorial and throughout Newfoundland and Labrador.

The Government of Newfoundland and Labrador is providing $375,000 over the next three years for this project, and the Government of Canada is contributing $1 million.

The Honourable Christopher Mitchelmore, Minister of Tourism, Culture, Industry and Innovation, along with Nick Whalen, Member of Parliament for St. John’s East, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency made the announcement today.

Support for innovation and technology delivers on commitments in The Way Forward to strengthen the province’s economic foundation and deliver better services and better outcomes for residents. The Way Forward outlines all actions the Provincial Government is taking to achieve a strong, diversified province with a high standard of living, and can be viewed at thewayforward.gov.nl.ca.

Quotes
“Our Business Innovation Agenda and the Technology Work Plan foster a culture of entrepreneurship and innovation in this province. Support for the Memorial Centre for Entrepreneurship will attract, inspire and engage even more graduate and undergraduate students to experience entrepreneurship, and help ensure that early-stage startups receive the support they need.”
Honourable Christopher Mitchelmore
Minister of Tourism, Culture, Industry and Innovation 

“The Government of Canada understands that nurturing the next generation of business leaders will help develop a stronger economy and create good, middle-class jobs. That is why we are investing in the Memorial Centre for Entrepreneurship, which is building an entrepreneurial environment across all of Memorial University’s faculties and contributing to a more innovative economy in this region.”
Honourable Navdeep Bains
Minister of Innovation, Science and Economic Development and Minister responsible for ACOA 

“In our Innovation round tables for the Atlantic Growth Strategy, I saw firsthand the potential of student entrepreneurs and the need for more of them. This funding will help more students take ideas from university into companies, growing our economy while pursuing their passion.”
Nick Whalen
Member of Parliament for St. John’s East 

“Memorial University students, with their diverse backgrounds and disciplines, represent the foundation and future of entrepreneurship and innovation in our province, one which will contribute to an economically diverse and sustainable Newfoundland and Labrador. We’re thankful that the federal and provincial governments recognize the importance of the Memorial Centre for Entrepreneurship as a key player in Newfoundland and Labrador’s entrepreneurial ecosystem, and we look forward to continuing to play a role in developing entrepreneurs who will contribute to the economic and social development of our province and our country.”
Dr. Gary Kachanoski, Memorial University President and Vice-Chancellor 

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Learn more
Memorial Centre for Entrepreneurship external link

Follow us on Twitter:  @GovNL external link and @TCII_GovNL external link

Media contacts
Tansy Mundon
Tourism, Culture, Industry and Innovation
709-729-4570, 693-1865
tansymundon@gov.nl.ca 

Paul McGrath
ACOA NL
709-772-2984
Paul.McGrath@canada.ca 

Dave Sorensen
Memorial University of Newfoundland
709-864-2143, 709-685-7134
sorensen@mun.ca

2019 08 22                              10:35 a.m.