Montréal, Quebec, November 26, 2009 – The Honourable Christian Paradis, Minister of Public Works and Government Services Canada and Minister responsible for the Montréal region, today announced the awarding of $447,636 in non-repayable funding over the next two years to the Fondation du maire de Montréal pour la jeunesse. Granted through Canada Economic Development's Community Futures Program, this financial assistance will enable the foundation to further expand the services it offers to young entrepreneurs.
Founded in 1996, the Fondation du maire de Montréal pour la jeunesse is a non-profit organization dedicated to helping low-income Montrealers between the ages of 18 and 35 start up a business or carry out an artistic project within the Montréal agglomeration. Supporting youth entrepreneurship through startup grants and various guidance services, the organization acts as a major catalyst of business philanthropy by encouraging today's business leaders to lend their financial support and share their expertise with the up-and-coming generation of entrepreneurs.
"Our government believes in the importance of working with local economic stakeholders to further the development, growth and reach of Canadian businesses. We know that a prosperous economy invariably rests on the emergence of new, high-performance enterprises. The Fondation du maire de Montréal pour la jeunesse plays an admirable role in this regard. To date, its actions have led to the creation or maintenance of some 1,850 permanent jobs and to the investment of more than $28 million in the economy, not to mention the 879 enterprises, 76% of which were still operating five years later, that got off the ground as a result of its support. These are outstanding results when one considers that the average survival rate for new Quebec companies was 35% during that same period," stated Minister Paradis.
The renewal of Canada Economic Development's funding will enable the Fondation to maintain its six existing business-support jobs and create one additional position. More importantly, this financial assistance will also help the organization issue grants to more than 150 new entrepreneurs, which should foster the creation of many more new jobs in the area.
For more on Canada's Economic Action Plan, visit www.actionplan.gc.ca.
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Sources:
Marie-Claude Lemire
Communications
Canada Economic Development
Tel.: 514-283-2199
E-mail: marie-claude.lemire@dec-ced.gc.ca
Simon Bachand
Press Secretary
Office of the Honourable Denis Lebel
Canada Economic Development
Cell.: 613-996-6236
E-mail: simon.bachand@dec-ced.gc.ca
