France is looking for few good entrepreneurs in USA
The French Ministry of Foreign Affairs is pleased to announce that for the fourth consecutive year, it is searching for bold, fresh, innovative minds to enter its annual entrepreneur competition: the Young Entrepreneur Initiative (YEi). This fall, between six to ten entrepreneurs will be selected to receive some nourishment à la française to get their ventures up and running.
“While the French Ministry is launching this contest in the U.S. with the hopes of fortifying the already long established cross-cultural business relationship between the two nations, candidates do not necessarily need to have U.S. citizenship or be young for that matter,” said Antoine Mynard, France’s scientific attaché in Boston. “We see the YEi program as a great opportunity to share with American entrepreneurs the wonderful opportunities that await them in France.”
Qualified candidates need only be residents of the United States and have a plan for (or recently began) a high-tech venture that has international appeal. Entrepreneurs are encouraged to apply online at: http://www.france-science.org/innovation/yei/ by Midnight EST on November 29, 2009.
The YEi program helps its laureates strengthen their startup project from the U.S., and to consolidate their plans for France through a large transatlantic network of incubators, mentors, strategic consultants and funding. In addition to accessing the network, all laureates receive a free and organized trip to France enabling them to meet partners and access French funding.
Since its launch in 2005, YEi has attracted 140 candidates and has selected 36 laureates. Ten of the 36 laureates have either already set-up an activity in France or are in the process of doing so. The vast majority of them keep a presence in the U.S., especially for marketing purposes as done by Fruition Sciences, a 2008 YEi laureate.
“The Young Entrepreneur Initiative is an amazing catalyst for businesses wanting to create or expand their operations in France,” said Sebastien Payen, co-founder of Fruition Sciences, a company that helps winemakers optimize the quality of their grapes. Through the use of physiological sensors and wireless technology, Fruition is able to provide real-time data on a web-platform to its users. The company was founded in Montpellier, France earlier this year and has recently created a branch in California.
In these last few years France has worked hard to develop its support for innovation and entrepreneurship and is now more than ever able to attract international ventures. This is largely due to a rash of tax incentives and reforms. The French government recently reported that the number of new private businesses launched in June of this year set an all-time record high.
About YEi
The Young Entrepreneurs Initiative (YEi) is a platform dedicated to support entrepreneurs who are starting or have recently started high-tech ventures with international appeal. The program provides entrepreneurs with key resources - like mentoring, networking and funding - and partners at a very early stage. YEi works in concert with various mentoring organizations and affiliated service providers. YEi is a non-profit program managed by the Office for Science and Technology of the French Embassy in the United States.
Jamaican $50-m Capital Venture Fund for young entrepreneurs
A $50-million Capital Venture Fund from which young entrepreneurs will be able to access up to $5-million for financing their own tourism-related businesses depending on what they bring to the table, is to be established within the next few weeks.
According to Tourism Minister Ed Bartlett, who made the announcement at the launch of his ‘Spruce Up Jamaica’ Summer Intern programme last Friday, talks were being concluded with the Jamaica Business Development Corporation (JBDC) with a view to signing off on a memorandum of understanding to bring the fund into operation by September.
Read more here.
$2.5 million grant to the Canadian Youth Business Foundation
Are you in Canada? Premier Jean Charest announced a $2.5 million grant to the Canadian Youth Business Foundation (CYBF). This investment will enable the charity to help more aspiring young Quebec entrepreneurs start new businesses.
The grant will provide much-needed stimulus in both rural and urban communities across Quebec, enabling the launch of 153 new businesses which in turn will create an estimated 770 new jobs, $23 million in sales revenue, $5.5 million in tax revenue, and will enable more than 153 volunteer business mentors to share over 14,000 hours of knowledge with their young protégés.
“At CYBF we believe that entrepreneurship equals economic recovery and our track record proves that our program is part of the solution. The Quebec government’s generous commitment, coupled with private sector support, recognizes that young entrepreneurs have great potential to generate ideas and expand innovation to keep Quebec strong,” says Vivian Prokop, CEO, CYBF.
“I would like to thank Premier Charest and the Youth Secretariat for their enthusiasm in nurturing a culture of entrepreneurship at a time when Quebec needs it most,” says Prokop.
There has never been a more important time to invest in Quebec’s young entrepreneurs. Research shows that up to 5,000 young Quebec adults (18-34) annually have an unrealized business idea; 70% of small business owners plan to retire within 5-10 years; and, unemployment is on the rise. Access to business credit is tighter then ever before and the demand for CYBF’s financing and mentoring services continues to grow.
“Quebec has no shortage of young people ready and willing to defy the current doom and gloom. This grant from the Quebec government will let us increase the number of business start-ups that we can finance and support through our community partners across Quebec,” says Josee Cusson, Director, CYBF, Quebec.
More details on Canadian Youth Business Foundation (CYBF) site.
