Government of Canada supports businesses and workers in southern Ontario
News release
Over $3 million to support nearly 500 businesses and training for nearly 1,000 participants
March 7, 2025 - Toronto, Ontario
The Government of Canada is committed to supporting businesses and entrepreneurs as they bring innovative solutions and help to build a strong economic future for southern Ontario.
Today, the Honourable Ruby Sahota, Minister of Democratic Institutions and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced an investment of over $3 million for the Schulich Venture Academy housed at York University’s Schulich School of Business to expand its programming to support more businesses and entrepreneurs.
The Schulich Venture Academy at York University delivers specialized training to entrepreneurs and start-ups working to build and scale their ventures. Through this project, Schulich Venture Academy will launch 10 cohorts with an enhanced curriculum, including new sector training in emerging clusters, such as artificial intelligence, electric vehicles and clean tech. It is expected to support nearly 500 businesses and nearly 1,000 individuals will benefit from this enhanced programming.
The Government of Canada is investing in businesses and entrepreneurs to ensure that they have access to the programming and resources they need to grow, thrive and create good jobs for Canadians.
Quotes
“Today’s investment highlights our government’s commitment in empowering businesses and entrepreneurs as they expand and drive economic growth. York University’s Schulich Venture Academy is delivering vital training to nearly 500 businesses and 1,000 entrepreneurs in critical sectors, equipping them with the skills and resources needed to strengthen our economy.”
– The Honourable Ruby Sahota, Minister of Democratic Institutions and Minister responsible for the Federal Economic Development Agency for Southern Ontario
“The support from FedDev Ontario arrives at the absolute perfect moment in time. We need to support our startup founders and leaders to build smarter, go further and ignite our economy with their dreams and drive. The key is to arm them with insights, strategies and systems from people who have built, led and funded truly great companies and that is exactly what the Schulich Venture Academy is designed for.”
– Chris Carder, Executive Director of Innovation and Entrepreneurship, Schulich School of Business and Cherry Rose Tan, Executive Education Lead, Schulich Venture Academy
“York University is immensely grateful for the Government of Canada’s transformative investment in the Schulich Venture Academy. The Academy has been a powerful example of York University’s ability to catalyze innovation and empower the communities we serve and create new economic opportunities. This new funding will magnify the positive impact we make on both Ontario and across Canada.”
– Rhonda Lenton, President and Vice-Chancellor, York University
Quick facts
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Established in 2024, York University’s Schulich Venture Academy has already trained more than 100 high-potential founders and start-up executives, equipping them with specialized training designed and delivered by leaders from some of Canada's most successful tech companies.
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Founded in 1959, York University offers a multi-campus experience, including Keele, Markham, and Glendon, its fully bilingual campuses in the GTA, and globally in Hyderabad, India and an EcoCampus in Costa Rica. The university has more than 375,000 alumni around the world.
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Since 2015, FedDev Ontario has invested over $760 million in more than 760 projects in the Toronto census division estimated to create and maintain over 90,000 jobs.
Associated links
Contacts
Cindy Caturao
Press Secretary
Office of the Minister of Democratic Institutions and Minister responsible for the Federal Economic Development Agency for Southern Ontario
Cindy.Caturao@feddevontario.gc.ca
FedDev Ontario Media Relations
media@feddevontario.gc.ca
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