Youth Social Innovation Capital Fund and CYBF join forces to support highpotential Canadian social enterprises
Youth Social Innovation Capital Fund and CYBF join forces to support high-potential Canadian social enterprises
Toronto, Canada – March 31, 2014 – Youth Social Innovation Capital Fund (YSI) and the Canadian Youth Business Foundation (CYBF) are pleased to announce that they have partnered to provide financing and support to young social entrepreneurs and their ventures.
Through this partnership, all accepted YSI applicants would secure up to $10,000 from the YSI program and would also have the option of receiving an additional $15,000 in startup financing from CYBF.
“We are excited to partner with CYBF to invest in young entrepreneurs delivering powerful solutions to big social and environmental challenges” stated Jory Cohen, Managing Director, YSI. “This partnership is proud to provide financing and support to entrepreneurs in their very early stages of organizational growth.”
“Social innovators are changing the way we see entrepreneurship and business ownership” said Scott Bowman, Senior Director, Ontario at CYBF. “By partnering with Youth Social Innovation Capital Fund, we are going to see more young people fulfill their dreams of owning a business that balances social needs of people, the environmental impact on our planet, while generating a profit.”
Social enterprises are organizations that apply market-based solutions to solve the world’s biggest challenges. These innovative enterprises generate financial, social and environmental impact. Social enterprises can be for-profit, not-for-profit or other forms of business entities.
Social entrepreneurs looking to apply should visit www.youthsocialinnovation.org
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About Youth Social Innovation Capital Fund
Youth Social Innovation Capital Fund (YSI) invests in young social entrepreneurs to drive the creation of sustainable financial, social and environmental value. We believe in the potential of young entrepreneurs and their ability to have a significant impact in shaping their communities. We champion youth-led social enterprises by providing financing and resources that facilitate successful venture growth.
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 aged 18-39 with pre-launch coaching, business resources, low-interest financing of up to $15,000, and industry-leading mentoring to help them launch and sustain successful businesses. CYBF’s co-financing partner, the Business Development Bank of Canada, leverages CYBF’s application process to provide up to $30,000 in additional support for CYBF entrepreneurs.
Established in 1996, CYBF has been recognized as a global leader in advancing youth entrepreneurship. CYBF is a founding member of the global G20 Young Entrepreneurs’ Alliance, the Canadian member of The Prince’s Youth Business International and the Canadian host of Global Entrepreneurship Week (November 18-24, 2013). www.cybf.ca.
For more information, contact:
Jory Cohen
Managing Director
Youth Social Innovation Capital Fund
e. jory@youthsocialinnovation.org
Nicolee Tattersall
Manager, Media Relations
Canadian Youth Business Foundation
e. ntattersall@cybf.ca
o. 416-408-2923 ext. 2208