Spin Master Ltd. and Canadian Youth Business Foundation Announce the Groundbreaking Spin Master Innovation Fund

Apr 27, 2011 | Corporate Member News

Enhancing the Canadian economy; one entrepreneur at a time.

Today Spin Master Ltd. announced the launch of the groundbreaking Spin Master Innovation Fund. In partnership with the Canadian Youth Business Foundation (CYBF) the Spin Master Innovation Fund was created to encourage young entrepreneurs to turn their innovative idea into a booming business.

In celebration of the Government of Canada’s recent designation of 2011 as the Year of the Entrepreneur, the Spin Master Innovation Fund finally gives the recognition that everyone with an innovative business idea has to start somewhere and have someone believe in them. Beginning today, the Spin Master Innovation Fund will allow qualified 18-34 year olds with a big idea to submit their applications online at www.cybf.ca/innovation.

“With the Spin Master Innovation Fund we have the opportunity to give back to young entrepreneurs,” says Spin Master’s Chairman and co-CEO, Ronnen Harary. “We are here to finance young people with great ideas and match them with a great mentor, the only collateral that we ask for is integrity, passion, determination to win, the ability to listen and ask questions”

The Spin Master Innovation Fund will continue to build on CYBF’s impeccable national and global track record as champions of youth entrepreneurship, while demonstrating Spin Master’s philanthropic commitment to youth business innovation. By reaching out to Canadian youth, the fund will identify and support the next generation of highly innovative job creators in Canada and build on the momentum that Canada is propelling economic recovery and growth through entrepreneurship.

“We are honoured to embark on this partnership with Spin Master,” says Vivian Prokop, Chief Executive Officer of The Canadian Youth Business Foundation. “The Spin Master Innovation Fund is at the forefront of promoting, encouraging and fostering innovation in Canada, while growing our nation’s economy one entrepreneur at a time.”

For those who want to take the leap and turn their big idea into a reality, the national call for applications will take place until June 9th, 2011, where the next great business could be eligible to receive a start-up package that includes up to $50,000 in start-up financing provided by CYBF and its affiliate Entrepreneur Gateway Canada. Additional perks include hand matched mentors with business leaders, a paid two-day trip to Toronto for the Innovation Launch Pad Workshop, and an online community with exclusive access to monthly webinars and business tips from national business leaders.

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 over 1,000 people with offices in Toronto, Los Angeles, London, Paris, Hong Kong, Mexico, Munich, and central Europe. For additional information please visit: http://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 our nation’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. http://www.cybf.ca/ 

In Affiliation with Entrepreneur Gateway Canada 

For further information:

Harold Chizick                Rachel Azagury
VP of Global Communications & Promotions                Senior Manager, Social Media, Media and Events
Spin Master Ltd.               CYBF
416-364-6002 ext. 2238               416-408-2923 x2111
[email protected]               [email protected] 

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