Transformational $11 Million Gift from Tim Price and Reza Satchu fuels ambitious decade ahead for NEXT Canada

TORONTO, Dec. 16, 2024 /CNW/ - NEXT Canada, the country's leading organization dedicated to fostering entrepreneurial talent, developing founders, and driving innovation, is thrilled to announce an extraordinary $10 million gift from Tim and Frances Price and a $1 million gift from Reza Satchu and Marion Annau.  Tim and Reza are longstanding board members, and their generosity paves the way for a transformative decade at NEXT Canada.

Celebrating its 15th year, NEXT Canada's mission is to accelerate the trajectory of Canada's most promising entrepreneurs by providing them with the education, mentorship, and support they need to succeed. With over 1,200 alumni, 800+ ventures launched, and $3.2 billion in equity capital raised by alumni ventures, NEXT Canada has become a cornerstone of Canadian innovation. Alumni include such trailblazers as Josh Domingues (Flashfood), Lauren Lake and Mallorie Brodie (Bridgit), Mike Murchison (Ada), and Diana Virgovicova (Xatoms). 

Comments from Leadership

Kyle Winters, CEO of NEXT Canada, expressed his gratitude for the monumental gifts:

"What Tim and Reza are doing today is transformational. Their partnership and combined gifts provide NEXT Canada with a robust footing for the decade ahead, enabling us to continue our mission of nurturing Canada's brightest entrepreneurial minds and driving national prosperity. We are incredibly grateful for their leadership and unwavering belief in our vision. Their philanthropic leadership has set a powerful example, inspiring our alumni community as stewards of the organization's philanthropic future."

Tim Price, a steadfast supporter of NEXT Canada, shared his passion for the organization's mission:

"NEXT Canada is an exceptional platform that fosters the entrepreneurial spirit and talent that will shape the future of our country. Being around some of Canada's brightest minds is truly inspiring, but watching how they collaborate to make each other stronger is remarkable. I look forward to working closely with Reza and the rest of the board as we embark on this next chapter."

Tim Price's history of extraordinary generosity towards NEXT Canada includes more than $2.5 million in support since 2013. He graciously joined the NEXT Canada board of Directors in 2022. His leadership on the board and as an advisor to many NEXT Canada alumni continues to shape the organization's future.  Tim is the Chairman, Brookfield Funds of Brookfield Corporation, and served previously as chairman of the board of directors or chief executive of a number of Brookfield's predecessor companies.  Tim received his B.A. from the University of Victoria and his C.A. in Quebec.

Reza Satchu, Founding Chairman and Co-Chair of NEXT Canada's Board of Directors, reflected on his deep commitment to the organization:

"My commitment to NEXT Canada has never wavered. From our founding in 2010 to today, it has been an honour to contribute to the incredible impact our programs have had on the entrepreneurial ecosystem across Canada. The next decade is destined to be our greatest yet, and I'm thrilled to partner with Tim as Next Canada enters an exciting era of growth, innovation and impact."

Reza's pivotal role in co-founding NEXT Canada in 2010 and his ongoing leadership continues to spearhead the organization's trajectory. Together with his most recent pledge and his volunteer teaching of his flagship course, The Economics of Entrepreneurship, Reza's contributions to NEXT Canada now exceed $5 million.  Reza, co-founder and Managing Partner of Alignvest Management Corporation, also teaches The Entrepreneurial Manager and The Founder Mindset at Harvard Business School, where his recent publications include numerous Harvard cases highlighting NEXT Canada alumni ventures.  Reza received a B.A. from McGill University and an MBA from Harvard Business School.

NEXT Canada's Impact by the Numbers

• Over 1,200 alumni
• 800+ ventures launched
• $3.2 billion in capital investments raised

SOURCE Next Canada

For Additional Information: Kyle Winters, CEO, NEXT Canada, Email: [email protected]