media release

Scotiabank donates $1 million to support social innovation education at SFU

June 01, 2015
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Contact:
Kirk Hill, SFU Beedie, 778.782.5105, kirk_hill@sfu.ca
Shawn Smith, SFU RADIUS, 778.782.5135, ssmithe@sfu.ca
Grace Kim, Scotiabank, 778.327.5451, gracej.kim@Scotiabank.com
Ross MacDonald-Allan, SFU Beedie, 778.782.9492, rossm@sfu.ca

A gift of $1 million from Scotiabank will help prepare students at Simon Fraser University to positively transform the world through social innovation.

The gift will benefit students participating in the trailblazing social innovation programs facilitated by RADIUS (RADical Ideas Useful to Society), the Beedie School of Business’ social innovation lab and venture incubator, ensuring that they remain at the forefront of social innovation and entrepreneurship.

The gift will fund three new initiatives at SFU designed to further social innovation education:

  • The Scotiabank Student Award in Social Innovation will see Scotiabank provide $500,000 to attract and retain entrepreneurial undergraduate or graduate business students who demonstrate a passion for social enterprise;
  • The Social Innovation Student Competition Team Fund will provide $300,000 to create a high profile signature student competition that will inspire novel solutions to society’s most pressing challenges;
  • The Student Social Innovation Conference and Event Fund will allocate $200,000 to enabling students to develop their business ideas and skills through attending and competing at social innovation-focused conferences and events.

Overall the gift will help RADIUS continue its track record of successful student social innovation initiatives. These include the undergraduate venture accelerator course Change Lab; the Social Innovation Grant Fund, which provides financial support to students across SFU working on social innovation projects; and Opportunity Fest, the Beedie School of Business’ annual marketplace-style showcase of student creativity, entrepreneurship, and innovation.

The gift from Scotiabank celebrates their 50-year-long relationship with SFU and coincides with SFU’s 50th anniversary celebrations.  

Quotes:

ANDREW PETTER, SFU PRESIDENT

“Thanks to the generous support of Scotiabank, SFU will be able to further facilitate the development of the next generation of social innovators,” said SFU President Andrew Petter. “We are extremely grateful to Scotiabank for its generosity and foresight.”

WINNIE LEONG, SCOTIABANK’S SENIOR VICE PRESIDENT, BRITISH COLUMBIA AND YUKON REGION

“Now is a time where innovation is key to survival for any business and entrepreneurs need to be adaptable to ever changing circumstances. Scotiabank is investing in young people by supporting SFU, as it helps guide Canada’s future social innovators. We look forward to seeing the achievements of these dynamic young students through the new social innovation offerings at RADIUS.”

About Simon Fraser University

As Canada’s engaged university, SFU is defined by its dynamic integration of innovative education, cutting-edge research and far-reaching community engagement. SFU was founded almost 50 years ago, with a mission to be a different kind of university – to bring an interdisciplinary approach to learning, embrace bold initiatives, and engage with communities near and far. Today, SFU is a leader amongst Canada’s comprehensive research universities and is ranked one of the top universities in the world under 50 years of age. With campuses in British Columbia’s three largest cities – Vancouver, Surrey and Burnaby – SFU has eight faculties, delivers almost 150 programs to over 30,000 students, and boasts more than 130,000 alumni in 130 countries around the world.

About Scotiabank

Through our global philanthropic program, Scotiabank and its employees support causes at a grassroots level. Recognized as a leader for our charitable donations and philanthropic activities, Scotiabank has contributed on average $50 million annually over the last five years to community causes around the world.

Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. We are dedicated to helping our 21 million customers become better off through a broad range of adviceproducts and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 86,000 employees and assets of $837 billion (as at April 30, 2015), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank’s media releases using Marketwired. For more information, please visitwww.scotiabank.com and follow us on Twitter @ScotiabankNews.

Information

SFU’s Beedie School of Business

SFU RADIUS

SFU RADIUS Change Lab

Social Innovation Grant Fund

Opportunity Fest

SFU 50th Anniversary

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Simon Fraser University: Engaging Students. Engaging Research. Engaging Communities.

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