Venture for Canada receives an additional $23.2 million in funding from The Government of Canada
Venture for Canada (VFC), where Canada’s next entrepreneurs are cultivated, announced it received $23.23 million in additional funding from the Government of Canada. The funding received by VFC will support 6,097 students to participate in VFC’s programs over the next two years.
VFC’s programs provide Canadian post-secondary students with the opportunity to develop entrepreneurial skills through working at small and medium-sized businesses. Students participating in VFC’s programs gain practical work experience, receive entrepreneurial skills training, and connect with peers.
These programs are funded by – and funded in part by – the Government of Canada’s Student Work placement Program and the Innovative Work-Integrated Learning Initiative.
Venture for Canada is committed to disproportionately serving individuals underrepresented in Canada’s entrepreneurial ecosystems, focusing on equity, diversity, and inclusion. So far in 2022, 70.5% of VFC’s participants identify as being BIPOC (Black, Indigenous, and/or People of Colour), newcomers, folks with disabilities, students living in rural communities, 2SLGBTQ and/or women studying STEM (science, technology, engineering, or mathematics).
The Government of Canada’s $23.23 million investment, enables VFC to build on its track record of helping young Canadians to develop entrepreneurial skills while supporting small businesses to gain access to talent.
Scott Stirrett, Founder and CEO of Venture for Canada.
“Young entrepreneurs can help all Canadians by creating new solutions for social, environmental, and financial challenges we’re witnessing across Canada; we are incredibly grateful to the Government of Canada for supporting VFC to help over 6,000 Canadian post-secondary students to develop entrepreneurial skills through work-integrated-learning experiences, at Canadian small and medium-sized businesses.
Minister for Women and Gender Equality and Youth, Marci Ien
“Transitioning from school to work can be challenging, especially for young Canadians from intersectional backgrounds. Venture for Canada’s programming provides students with flexible and meaningful work experiences, that lead to finding rewarding careers. We know that young people thrive when given the chance, and we will continue making sure that young people are prepared for the job market and beyond.”
Barb Stegemann, CEO, The 7 Virtues by Beauty Inc. Internship Employer
“VFC has enabled our social enterprise to grow. We brought in an intern for eight months and wondered how we ever lived without this person! We realized with our second intern that this was truly the way to grow our company and find great employees for the long term. In 2022, we will have three interns and hire many of them full-time. We could not grow at the rapid pace we have over last year, at 180%, without interns and new hires from the program. If you are a business, you need to invest in the incredible students they bring.”
Dr. Ray Hsu, Co-Founder, Phare Mental Health LTD. Intrapreneurship Employer
“Until Venture for Canada’s Intrapreneurship program, we had never heard about Work-Integrated Learning. Our experience with VFC students has shown us that WIL is–and I don’t say this lightly–the future of work and learning. An interdisciplinary program like VFC’s Intrapreneurship (InP) program is at the core of what makes hiring one of the most exciting parts of startup life. It opens our horizons to unconventional intersections of talent that startups like ours might otherwise never have been exposed to.”
ABOUT THE GOVERNMENT OF CANADA’S INNOVATIVE WORK-INTEGRATED LEARNING INITIATIVE
The Innovative Work-Integrated Learning (I-WIL) Initiative is part of the Student Work Placement Program. Unlike traditional WIL opportunities, I-WIL broadens the scope by providing new types of learning and short-term experiences to allow students to apply their skills to a work-related problem, without necessarily being in a physical work location.
ABOUT THE GOVERNMENT OF CANADA’S STUDENT WORK PLACEMENT PROGRAM
The Student Work Placement (SWP) Program, supports partnerships between industry and post-secondary institutions, to create quality work-integrated learning opportunities for post-secondary students. It helps ensure students develop the skills required by employers to secure meaningful employment upon graduation.
ABOUT VENTURE FOR CANADA
Venture for Canada is a national charity that fosters entrepreneurial skills and mindset in young Canadians. To be entrepreneurial is to act upon opportunities to create value for others. We recruit, train, and support young people to work for innovative Canadian small businesses and startups. Through our programs, participants develop the network, knowledge, and entrepreneurial skills to have more impactful careers.
Media contact: Erica Ormiston – Marketing Manager – Venture for Canada – 902-220-7554 – erica@ventureforcanada.ca
