March 9, 2005 St. John's, Newfoundland and Labrador Advancing Canadian Entrepreneurship (ACE) Inc., a national organization for entrepreneurship training and education, is helping youth in this province to develop skills to help them start their own businesses. Through a new initiative with the Atlantic Canada Opportunities Agency (ACOA), ACE will provide additional training and development to the five existing teams in the province and will work on establishing new teams. It will also enable students to attend ACE competitions and events, such as the ACE Atlantic Regional Competition taking place in Moncton from March 11-12. ACOA is providing $55,423 for the initiative, while campus development support will be provided by the ACE National Office and additional financial contributions will come from the local ACE teams. "ACOA is committed to helping young people to gain the knowledge, insight and leadership skills that can enable them to successfully operate a business," said the Honourable R. John Efford, Minister of Natural Resources Canada, on behalf of the Honourable Joseph McGuire, Minister of ACOA. "ACE connects post-secondary students with opportunities to learn first hand about starting a business, which helps create a more entrepreneurial culture in our province." In Newfoundland and Labrador, there are five local ACE teams, with a combined total of 116 active members. The teams are located in St. John's (which has two teams), Clarenville, Corner Brook and Bay St. George, through Memorial University of Newfoundland and College of the North Atlantic campuses. A sixth team is currently under development in Grand Falls-Windsor. "By implementing educational outreach projects, students discover new opportunities and gain access to a vast network of entrepreneurs and business leaders interested in their success. They become more capable of achieving success in their future entrepreneurial endeavours," said James Dyke, Campus Development Manager, ACE, who is responsible for the development of ACE Teams in Newfoundland and Labrador. Some of the benefits for ACE students include networking with their peers from across the country, showcasing their projects to some of Canada's top business leaders, and gaining experience and confidence through experiential learning. ACE Teams advance Canadian entrepreneurship by making an impact through the educational outreach projects and entrepreneurial initiatives that they develop and execute throughout the year. ACE Teams engage students on university and college campuses across Canada, and each team is mentored and supported by a faculty advisor, Business Advisory Board and school administration. Teams also practice entrepreneurship through the implementation of micro-businesses and fair enterprise initiatives on their campuses. Founded in 1987, ACE is a national, not-for-profit organization that is igniting young Canadians to create brighter futures for themselves and their communities. Working in partnership with business and higher education, ACE organizes and motivates teams of university and college students who practice and teach others the principles and values of entrepreneurship and market economics. Today, ACE is reaching thousands through 47 highly dedicated ACE teams across the country. ACOA is providing funding for this initiative through the Young Entrepreneur Development Initiative (YEDI), a $15.6 million initiative targeting the development of entrepreneurship and business skills among Atlantic Canada's youth. It is one of three components of the Entrepreneurship and Business Skills Development announced in October 2002, and will enable ACOA to invest in various youth entrepreneurship projects over the next four years. FOR BROADCAST USE ONLY: Advancing Canadian Entrepreneurship (ACE) Inc., a national organization for entrepreneurship training and education, is enabling youth to develop skills to start their own businesses. A new initiative with the Atlantic Canada Opportunities Agency (ACOA) will help ACE to do more training and development with local ACE teams, and will enable students in this province to attend local events, as well as regional and national ACE competitions. There are five ACE teams across Newfoundland and Labrador, with a combined total of 116 active members. ACE organizes and motivates teams of university and college students who practice and teach others the principles and values of entrepreneurship and market economics. - 30 - For more information, please contact: Valérie Poulin Director of Communications Office of the Honourable Joseph McGuire Minister of the Atlantic Canada Opportunities Agency (613) 941-7241 Doug Burgess Director, Public Affairs ACOA (709) 772-2935 James Dyke Campus Development Manager ACE (416) 304-1566 ext. 226
