Wladyslaw Lizon, Member of Parliament for Mississauga East-Cooksville, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), today announced a contribution of up to $787,500 for The Next 36 that will provide graduates in the fields of science, technology, engineering and math (STEM) with the skills and support they need to start their own businesses.
“Our government is investing in the ideas of STEM graduates and graduate students to provide them with the skills they need to become successful entrepreneurs,” said MP Lizon. “With this funding, The Next 36 will help create 30 new STEM-based businesses in southern Ontario, and 90 new highly skilled jobs. This project will have a significant positive impact on our region, creating jobs for our people, and growth for our communities.”
The funding is being provided through the Federal Economic Development Agency for Southern Ontario’s Scientists and Engineers in Business initiative, designed to assist graduates and graduate students in the STEM fields in developing their business skills and support their efforts to commercialize innovative products and ideas.
The investment will allow The Next 36 to provide business and entrepreneurship training, as well as access to seed financing, for 10 STEM graduates per year for the next three years. This will allow them to launch and manage their start-up businesses. Each participant in the program will be matched with complementary mentors and given the leadership, academic foundation, business skills workshops, and networks needed to increase their likelihood of becoming successful entrepreneurs.
“Canadian prosperity depends on our ability to generate high impact entrepreneurs to drive this country forward,” said Claudia Hepburn, co-founder and Executive Director of The Next 36. “This funding will help The Next 36 transform Canada’s most promising students into entrepreneurs and nation builders who see opportunities where others see roadblocks.”