Competition Inspires Students to Start Innovative Businesses
News Release
Memorial University students launch new businesses to compete for Mel Woodward Cup in March
February 6, 2018 – St. John’s, NL – Atlantic Canada Opportunities Agency
Innovative businesses are driving economic growth and creating new opportunities and jobs in Atlantic Canada. With support from the Government of Canada, the Memorial Centre for Entrepreneurship (MCE) will host the Mel Woodward Cup on March 28 to help post-secondary students turn their innovative ideas into viable businesses.
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 (ACOA), today announced a non-repayable contribution of $130,000 from ACOA’s Business Development Program for the MCE to organize this business start-up competition.
The Mel Woodward Cup promotes entrepreneurship amongst Memorial University students and helps them develop business skills. It was launched through a donation from the family of the late Dr. Mel Woodward, a respected entrepreneur in Newfoundland and Labrador who founded Woodward Group of Companies. Now in its second year, the competition targets entrepreneurs in the early stages or business idea phase. After the competition’s pitch event, winning teams are matched with mentors from the business community to help implement their businesses.
The MCE was established in 2016 as a joint initiative of Memorial University’s faculties of Business Administration and Engineering and Applied Science. It offers entrepreneurial work terms, a student ambassador program to promote entrepreneurship and a physical space for aspiring entrepreneurs to work together.
This investment supports the objectives of the Government of Canada’s Innovation and Skills Plan to create new opportunities for Canadians to do business more easily and accelerate the growth of their companies. The Plan will ensure that Canadians develop skills and seize new opportunities to succeed in a growing economy.
Quotes
“The Memorial Centre for Entrepreneurship provides excellent opportunities to motivate the next generation of innovative business owners in this region. I commend Memorial University and its partners for their efforts to promote entrepreneurship to university students. This start-up competition ties in well with the Government of Canada’s plan to create growing, innovative businesses with global reach, good jobs for all Canadians, and a thriving middle class.”
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“Newfoundland and Labrador has a strong entrepreneurial ecosystem, which provides support and guidance to businesses at various stages of development. Through events like this one, the Memorial Centre for Entrepreneurship is adding to the invaluable support available to businesses in the early stages of development, which will help build a more robust, innovative Atlantic economy.”
Nick Whalen, Member of Parliament for St. John's East
“This contribution from ACOA allows us to reach more students across all of Memorial’s campuses as well as ensure that they are prepared to excel, not only at the Mel Woodward Cup but at any business venture they may pursue in the future. The Mel Woodward Cup is a pathway for entrepreneurially-minded students to learn new skills, start innovative businesses and find solutions to the challenges faced by today’s society. By providing students with the skills and start-up funds they need to bring their ventures to the next level, the Mel Woodward Cup is empowering the next generation of leaders and thinkers who will help build the economy of Newfoundland and Labrador.”
Florian Villaumé, Director, Memorial Centre for Entrepreneurship
Contacts
Paul McGrath
Director, Communications
ACOA NL
709-772-2984
Paul.McGrath@canada.ca
Susan White
Communications Advisor
Faculty of Business Administration, Memorial University of Newfoundland
709-864-2616
susanwhite@mun.ca
Jackey Locke
Communications Advisor
Faculty of Engineering and Applied Science, Memorial University of Newfoundland
709-864-8287
jackey.locke@mun.ca