CREDIT: JESSICA THOMPSON
Annette Markvoort's position was introduced after the Ontario government's Youth Job Strategy allocated money to Ontario colleges and universities.

The Ontario government has extended the Campus-Linked Accelerators (CLA) and On-Campus Entrepreneurships Activities (OCEA) for another two years.

Initially Fanshawe, partnered with Western, was awarded a CLA instead of an OCEA in 2014 because they already had entrepreneurial activities on campus. Fanshawe was one of the few Ontario colleges that was given a CLA.

“This two-year programming ends March 2016 and this announcement is to say that they are extending this for another two years. Everybody who was awarded a CLA or OCEA is still going to get funding from this, but it is about 40 per cent reduced over the original funding,” said Annette Markvoort, Fanshawe's entrepreneurial animator, whose position was established after the original funding was introduced.

The program is funded by the Youth Jobs Strategy, which helps to create and foster youth employment.

The $27 million dollar budget also includes a Youth Business Accelerator Program, Youth Investment Accelerator Fund and SmartStart Seed Funds and finally, a TalentEdge Internship Program.

“In today's global economy, it is critical that we provide our young people with access to the right mix of innovative programs at our colleges and universities,” said Reza Moridi, Minister of Research and Innovation in a press release. “By connecting them with training opportunities and regional business support services, these programs are encouraging the next generation of innovators.”

And the money provided has been put to good use at Fanshawe.

“It has paid for my salary, my staffs salary, for LEAP Junction and the equipment,” said Markvoort. “It pays for students to attend projects and it pays for me to put events on for them.”

According to Fanshawe's website, LEAP Junction seeks to support and promote student entrepreneurial enterprises.

At LEAP students can assess their personal suitability as an entrepreneur, learn how to write a business plan, seek expert advice, find financing, understand the regulations that govern business and open their own business.

“[LEAP Junction] gives opportunities to young people with great ideas to kick start them into entrepreneurship,” Markvoort said.

According to Markvoort, the original funding provided by Youth Jobs Strategy was 40 per cent higher than what will be given in the next two years because it was a “seed investment”.

“The money was to sort of get collaborative space established on campus, they allowed money for lease holding improvements and they allowed money for things that should now be established.”

According to the press release, CLAs and OCEA initiatives, in 42 institutions across Ontario, have supported more than 1,700 youthled businesses.

And the Youth Jobs Strategy, since its launch in 2013, has created more than 30,000 job opportunities for young people across the province.

“I want to plant the seed that five or 10 years from now if you have come up with an idea that you think is great, that you now know that ‘I can do this', there are supports in place, you can reach back to the college to get help,” said Markvoort. “If we expose students to all of the local businesses, they will see that they are not alone.”