Grant to assist Lakehead in training future entrepreneurs

Lakehead University’s Ingenuity program is set to empower future entrepreneurs with the help of a generous $132,000 award from the John Dobson Foundation’s Dobson Entrepreneurship Excellence Project. This funding will support the Ascend Accelerator program, which aims to train students in converting their innovative ideas into viable business opportunities.

The Ascend Accelerator program, launched in 2020, has already proven to be a success by supporting entrepreneurial-minded students and alumni in their journey towards establishing successful startups. With the additional funding, the program will be able to fund 24 business ideas over the next two years and expand its reach to Lakehead’s Orillia campus.

Alyson MacKay, manager of Ingenuity, expressed her excitement about the expansion of the Ascend Accelerator program, stating, “I am beyond excited that we’ll be able to engage students year-round through Ascend Accelerator and support our entrepreneurially minded students in Orillia — an opportunity we have not had until now.”

The program provides participants with mentorship, business knowledge development, and seed funding to support their business development costs. To date, the program has already supported 12 business ideas, with nine of them still active and thriving.

Dr. Andrew Dean, vice-president of research and innovation at Lakehead University, emphasized the importance of supporting entrepreneurial students and facilitating their growth. He expressed his excitement about the potential impact of the increased funding on this year’s cohort of participants.

To stay updated on the progress of the Ascend Accelerator program and the innovative ideas being developed, visit www.lakeheadu.ca/centre/ingenuity.