For the second consecutive year, the Canadian Youth Business Foundation (CYBF) and Spin Master Ltd., Canada’s most innovative toy company, are teaming up to offer financing, mentoring and business workshops to innovative entrepreneurs through the Spin Master Innovation Fund (SMIF).
Applications for the Spin Master Innovation Fund opened today and will offer qualified 18-34 year olds the opportunity to kick-start their business start-up with $50,000 in start-up financing, a hand-matched mentor, a paid trip to Toronto to attend an exclusive Innovation Launch Pad Workshop, and the opportunity to participate in an Acceleration Workshop after six months. Qualified applicants are invited to apply online.
“The partnership between CYBF and Spin Master is helping us kick-start innovative young entrepreneurs from coast to coast to coast,” says Vivian Prokop, chief executive officer of the Canadian Youth Business Foundation. “Spin Master Ltd. is a pioneering Canadian business that has grown from an innovative idea shared by three young, brilliant Canadians to become a global leader in its industry. The Spin Master Innovation Fund furthers the spirit of Canadian innovation by identifying highly driven young people and enabling them to become the future job creators who will strengthen and grow the Canadian economy for years to come.”
The Spin Master Innovation Fund builds on CYBF’s impeccable domestic and global track record as champions of youth entrepreneurship, while demonstrating Spin Master’s philanthropic commitment to youth business innovation.
“The successful launch of the Spin Master Innovation Fund has allowed us to give back to young entrepreneurs all across Canada,” says Spin Master’s President and co-CEO, Ronnen Harary. “With the impressive recipients that have already come through the Spin Master Innovation Fund, we are excited to see the high quality of candidates and the innovation, passion and outstanding character that is sure to be delivered in 2012.”
“Without the help of the Spin Master Innovation Fund, we would never have been able to get our business off the ground,” said Awane Jones, founder and CEO of Monumental Technologies and Spin Master Innovation Fund 2011 recipient. “The Spin Master Innovation Fund provided us with the most intense learning I have ever experienced as an entrepreneur and the essential funding we needed. I would highly recommend the program to young business people who want a program that thinks outside of the box and places real value on real world education.”
Spin Master Innovation Fund applications must be received by May 10th, 2012. Recipients will receive a start-up package of up to $50,000 in start-up financing and a personally-matched mentor from CYBF’s world-class mentoring program. Plus, recipients will get an all-expenses paid trip to Toronto to attend a two-day Innovation Launch Pad Workshop, which will provide access to top-tier Spin Master executives, as well as the opportunity to attend a specialized Acceleration Workshop six months later to reconnect with the Spin Master Innovation Fund peer group.