Minister Rob Moore meets with CYBF entrepreneurs to discuss the state of
youth entrepreneurship in Canada

Participates in roundtable discussion with young entrepreneurs and mentors

TORONTO, March 12 /CNW/ - Today, the Canadian Youth Business Foundation (CYBF) hosted the Honourable Rob Moore, Federal Minister of State (Small Business and Tourism) at a roundtable with seven of CYBF's young entrepreneurs and mentors, held at the Intercontinental Toronto Centre Hotel.

The roundtable focused on the importance of strengthening youth entrepreneurship across Canada, and its positive and immediate contribution to Canada's economic recovery, global competitiveness, and the cultivation of Canada's future business leaders.

At a press conference preceding the roundtable, Minister Moore congratulated CYBF on their impact on entrepreneurship in Canada and winning the prestigious "Country of the Year 2009" award presented by the internationally renowned Kauffman Foundation, at the Global Entrepreneur Congress, held in Dubai, United Arab Emirates, on March 9th.

Minister Moore also spoke of the continued partnership between the federal government and CYBF. He referenced the recent budget, which included $10 million in funding to CYBF which will help to create more than 500 new businesses in communities across Canada within the next year. These businesses will in turn generate an estimated 2,500 new jobs and more than $63 million in revenues by 2013. Beyond their economic impact, CYBF entrepreneurs are also a valuable social asset in their respective communities and for all Canadians. They are role models who inspire other young people to consider entrepreneurship as a career choice.

"At CYBF, we know that youth entrepreneurship plays a fundamental role in building a dynamic Canadian economy," said Vivian Prokop, chief executive officer of CYBF. "The continued support of CYBF by the federal government reinforces a strong public private partnership that enables CYBF to unleash the entrepreneurial potential of young people to generate ideas, expand innovation and create jobs and wealth in communities coast to coast."

About The Canadian Youth Business Foundation (CYBF)

The Canadian Youth Business Foundation (CYBF) is a national charity 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.

Founded in 1996, CYBF has invested to date in more than 3,500 young entrepreneurs, whose businesses have generated more than $96 million in tax revenue and hundreds of millions in sales and export revenues, and created more than 16,900 new jobs. Through CYBF's national network of community partners, we are able to deliver our program coast to coast with more than 3,100 volunteers across Canada.

For more information on CYBF, please visit www.cybf.ca.

About GEW Canada

From November 15th to the 21st, 2010, more than 100 countries will come together to celebrate Global Entrepreneurship Week (GEW), a movement to inspire millions of people to embrace innovation, imagination and creativity. GEW Canada will connect hundreds of organizations to champion a culture of entrepreneurship and mentoring, through local, national and global initiatives. Students, educators, young adults, entrepreneurs, business leaders, mentors, employees, non-profit leaders, corporations, governments, and many others will participate in a wide range of programs. The Canadian Youth Business Foundation (CYBF) is the Official Host for GEW Canada.

For more information, visit www.gewcanada.com.

For further information: Media Contact: Lori Paris, Senior Manager, Media Relations and Communications, Canadian Youth Business Foundation, [phone] ext 2120, [email protected]