Abdeali Saherwala | Staff Writer
Featured image: LaunchYU collaborates with Toronto-based non-profits through its Passion Into Profit initiative. | Basma Elbahnasawy
York’s entrepreneurship program, LaunchYU, is collaborating with the Toronto-based not-for-profit Back 2 Basickz through Passion Into Profit, an initiative aimed at helping individuals living in the Jane and Finch community obtain the skills and knowledge needed to become successful entrepreneurs.
Passion Into Profit is a collaboration between Back 2 Basickz, and is funded by the York University-TD Community Engagement Centre.
“LaunchYU is focused on supporting entrepreneurship and accelerating start-up companies. The program provides support to entrepreneurs at all stages, across all 11 York faculties and in the surrounding community, to create investment-ready ventures that will lead to the creation of jobs, the development of new products and services, and have a positive impact on the Ontario economy.
“LaunchYU is a strong, multi-dimensional program that is growing and showing measurable outcomes and impacts.
“One of the goals of this collaboration is to create an economic and social impact in the community, by teaching individuals how to turn their passion into profitable businesses,” says Sarah Howe, Director of Innovation York.
LaunchYU focuses on creating cross disciplinary learning environments, where entrepreneurs from different sectors of the job market can focus on various business models, in which one person or group can learn from another.
The program also draws upon the expertise of community partners, local businesses, and industry experts to create a tight integration between different entities, in order to provide a comprehensive network of resources, which will help entrepreneurs succeed.
“York has significant roots in social innovation, and when you meet with entrepreneurs across campus, you see that social innovation continues to be a priority. Including non-profit and social enterprises in our programming is important, if we are going to provide comprehensive services that meet the needs of our students,” says Howe.
LaunchYU is specifically designed to support students and youth at any stage of their business venture, but has a central target on those in the earlier stages of their entrepreneurial development, in order to provide aspiring entrepreneurs with the tools needed to turn early-stage ideas and technology into a potential business. The program has supported more than 100 business ventures to this day.
“LaunchYU is comprised of three key programs: IgniteUP, which supports entrepreneurs by offering one-on-one mentorship services; RevUP, which helps aspiring entrepreneurs take their ideas from concept to reality, through a workshop series conducted by industry experts; and AccelerateUP, a four-month program designed to support entrepreneurs as they build, launch, and scale their ventures,” she says.
Since the announcement of this new innitiative, more than 30 applications have been received from those hoping to strengthen their entrepreneurial skills.
“York is committed to being an anchor university; ensuring that we are partnering and engaging with the community is a priority. Passion to Profit is truly a wonderful example of how York can connect, engage, and partner with the surrounding community,” she adds.
LaunchYU has successfully engaged with thousands of entrepreneurs, all coming from a diversity of skills and experiences. The program has successfully created three comprehensive initiatives, providing more one-on-one mentoring, face-to-face networking, and accelerated learning to effectively support its participants.
With their current successive record, LaunchYU is hoping to see the Passion into Profit initiative as a success as well.
