TORONTO, ONTARIO--(Marketwire - March 29, 2012) - For the second consecutive year, the Canadian Youth Business Foundation (CYBF) and Spin Master Ltd., Canada's most innovative toy company, are teaming up to offer financing, mentoring and business workshops to innovative entrepreneurs through the Spin Master Innovation Fund (SMIF). Applications for the Spin Master Innovation Fund opened today and will offer qualified 18-34 year olds the opportunity to kick-start their business start-up with $50,000 in start-up financing, a hand-matched mentor, a paid trip to Toronto to attend an exclusive Innovation Launch Pad Workshop, and the opportunity to participate in an Acceleration Workshop after six months. Qualified applicants are invited to apply online at www.cybf.ca/innovation.
"The partnership between CYBF and Spin Master is helping us kick-start innovative young entrepreneurs from coast to coast to coast," says Vivian Prokop, chief executive officer of the Canadian Youth Business Foundation. "Spin Master Ltd. is a pioneering Canadian business that has grown from an innovative 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 Spin Master Innovation Fund builds on CYBF's impeccable domestic and global track record as champions of youth entrepreneurship, while demonstrating Spin Master's philanthropic commitment to youth business innovation.
"The successful launch 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 innovation, passion and outstanding character that is sure to be delivered in 2012."
"Without the help of the Spin Master Innovation Fund, we would never have been able to get our business off the ground," said Awane Jones, founder and CEO of Monumental Technologies and Spin Master Innovation Fund 2011 recipient. "The Spin Master Innovation Fund provided us with the most intense learning I have ever experienced as an entrepreneur and the essential funding 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."
Spin Master Innovation Fund applications must be received by May 10th, 2012. Recipients will receive a start-up package of up to $50,000 in start-up financing and a personally-matched mentor from CYBF's world-class mentoring program. Plus, recipients will get an all-expenses paid trip to Toronto to attend a two-day Innovation Launch Pad Workshop, which will provide access to top-tier Spin Master executives, as well as the opportunity to attend a specialized Acceleration Workshop six months later to reconnect with the Spin Master Innovation Fund peer group.
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 2010 Boys Toy of the Year winner Bakugan Battle Brawlers™, and award-winning brands Air Hogs®, Aquadoodle™, Tech Deck™, Moon Sand™, Liv™, 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 900 people worldwide with offices in Toronto, Los Angeles, London, Paris, Hong Kong, Mexico, Munich, Italy and central Europe. For additional information please visit: www.spinmaster.com.
Canadian Youth Business Foundation -
Canada's Entrepreneur Gateway
The Canadian Youth Business Foundation (CYBF) is the 'go to' place for youth entrepreneurship. As a national charity, we are dedicated to growing Canada's economy one young entrepreneur at a time. We look at character not collateral, when providing youth, age 18-34, with pre-launch coaching, business resources, start-up financing and mentoring, to help them launch and sustain a successful entrepreneurial business. www.cybf.ca