Spin Master Ltd. and Canadian Youth Business Foundation launch third annual Spin Master Innovation Fund
Spin Master Ltd. and Canadian Youth Business Foundation launch third annual Spin Master Innovation Fund
Fund established to support and champion innovative Canadian-made businesses
Toronto, ON – April 8, 2013 – For the third consecutive year, the Canadian Youth Business Foundation (CYBF) and Spin Master Ltd., Canada’s most innovative children’s toy and entertainment company have teamed up to launch the Spin Master Innovation Fund (SMIF), with up to $50,000 in start-up financing , a hand-matched mentor from CYBF’s industry-leading mentoring program and a trip to the Spin Master offices in Toronto to attend a two-day Innovation Launch Pad Workshop, with exclusive access to senior Spin Master executives.
Applications open today and will offer qualified 18-39 year olds the opportunity to kick-start their innovative start-up business and are invited to apply online before May 21, 2013 at www.cybf.ca/innovation.
“The partnership between CYBF and Spin Master has helped us jump-start innovative young entrepreneurs from coast-to-coast,” says Tessa Mintz, Vice President, Volunteers and Programs, CYBF. “Spin Master Ltd. is a pioneering Canadian business that has grown from a great idea shared by three young, brilliant Canadians to become a global leader in its industry. The Spin Master Innovation Fund furthers the spirit of Canadian innovation by identifying highly driven young people and enabling them to become the future job creators who will strengthen and grow the Canadian economy for years to come.”
“The success of the Spin Master Innovation Fund has allowed us to give back to young entrepreneurs all across Canada,” says Spin Master’s President and co-CEO, Ronnen Harary. “With the impressive recipients that have already come through the Spin Master Innovation Fund, we are excited to see the high quality of candidates and the creativity, passion and outstanding character that is sure to be delivered this year.”
“Without the help of the Spin Master Innovation Fund, we would never have been able to get our business off the ground,” said Awane Moufide Jones, founder and CEO of Merchlar, an award-winning digital marketing agency based in Montréal, QC, and Spin Master Innovation Fund 2011 recipient. “The Fund provided us with the most intense learning I have ever experienced as an entrepreneur and the essential financing we needed. I would highly recommend the program to young business people who want a program that thinks outside of the box and places real value on real world education.”
After attending the Spin Master Innovation Launch Pad Workshop in 2011, Awane Moufide Jones and his business partner Eric St. Pierre quickly received their first grant from the Research Council of Canada, launched their first successful Augmented Reality (AR) project through the discovery of a whole new technology, and released their first app with Dejardins. Now with 20 jobs created in offices in Montréal and New York, Merchlar is launching their own AR software kit, thanks to the Research and Development team led by Hazem Rushdi Mohamed, and have just won a Favourite Website Award (FWA) for their AR app.
To highlight the many similar examples of business success from among the Spin Master Innovation Fund alumni, and champion Canada’s young innovators, CYBF recently launched “Where Are They Now?” – a social media campaign that follows the path to success for a series of program participants, available at www.cybf.ca/blog.
About Spin Master Ltd.
A multi-category children’s entertainment company since 1994, Spin Master has been designing, developing, manufacturing and marketing consumer products for children around the world and is recognized as a global growth leader within the toy industry. Spin Master is best known for such popular brands as boy’s action phenomena and 2009-2010 Boys Toy of the Year winner Bakugan Battle Brawlers™, and award-winning brands Air Hogs®, Appfinity™, Aquadoodle™, La Dee Da™, Nano Speed™, Spin Master Games™, Tech Deck™, and Zoobles™. The company has also marked an entry into children’s media with the launch of Spin Master Entertainment, a subsidiary focusing on the design, development and production of television and other media properties. Spin Master employs over 900 people with offices in Toronto, Los Angeles, London, Paris, Hong Kong, Mexico, Munich, Italy, Spain and central Europe. For additional information please visit:www.spinmaster.com.
About the Canadian Youth Business Foundation
The Canadian Youth Business Foundation (CYBF) is a national non-profit organization dedicated to growing our nation’s economy one young entrepreneur at a time. We look at character not collateral, when providing youth, age 18-39, with pre-launch coaching, business resources, start-up financing and mentoring, to help them launch and sustain a successful entrepreneurial business. CYBF has been recognized as a global leader in advancing youth entrepreneurship, is a founding member of the global G20 Young Entrepreneurs’ Alliance (G20 YEA) and the Canadian Host of Global Entrepreneurship Week (November 18-24, 2013). Visit www.cybf.ca.
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Media contact:
Lesley Wilmot
Director, Marketing and Communications
Canadian Youth Business Foundation
Phone: 416-408-2923 ext. 2203
lwilmot@cybf.ca
