Investing in the Business Leaders of Tomorrow

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Thank you very much.  I want to start by welcoming everyone joining us this afternoon.  First and foremost, Minister of State for Small Business and Tourism, Diane Ablonczy. Thank you for being here and thank you also for everything you do for the entrepreneurs and businesspeople of Canada – both young and old alike.  Welcome also to the representatives of the Canada Youth Business Foundation, to the business mentors, and of course – to the young entrepreneurs who have brought us together today.

Ladies and gentlemen.  Canada itself is a testament to the resourcefulness of our people.  Living in a harsh and unforgiving land, our earliest settlers often began with little more than their dreams and their wits when they arrived to build a new life for themselves and their families.  Indeed, our history is replete with stories of Canadian innovation and ingenuity.

One such story begins in the 1960s and takes place not far from here in Galt, now part of Cambridge. Young film makers Graham Ferguson and Roman Kroitor dreamed of revolutionizing the motion picture industry by using film ten times its normal size and projecting its images on to a high screen.  Two of their friends were brought on to the project and Multiscreen Corporation was born in September of 1967.  With foreign investment and some support from the Government of Canada, the young entrepreneurs were slowly but surely able to realize their dream. Today, of course, Multiscreen Corp. is better known as IMAX, and the more than 280 IMAX screens in countries all over the world have secured a place for Canada as a worldwide leader in cinematic technologies. This home-grown Canadian technology has even been to space and back.

Great Canadian success stories such as this show us what a little timely support, coupled with a lot of youthful ingenuity can yield.  We are here today to showcase a few more great Canadian success stories in the making.

This morning the Minister Ablonczy and I met with a group of young Canadian entrepreneurs who shared with us their innovations and achievement.  We were fortunate to be able to tour La Torterilla, a small Toronto business with a big future.  The two young Canadian owners, Axel and Juan, have already opened three stores, manage more than 20 employees and satisfied countless customers.  And just like Graham, Roman, Robert and Bill, it all started with a bright idea. The success of these young people and many more would not have been possible were it not for the good work of the Canadian Youth Business Foundation - an organization dedicated to mentoring and supporting the business leaders of tomorrow.

That’s why today I am pleased to highlight our Government’s investment in the Canadian Youth Business Foundation, a measure from our Economic Action Plan. Minister Ablonczy will give you more detail in a moment.  Suffice it to say that our investment is giving Canada's future business leaders the support they need today to pursue their dreams and to create the jobs of tomorrow. Because as you know, our Action Plan is not simply about creating and protecting jobs now during this global recession; it is also about laying the foundations for Canada's long-term prosperity.

As the world struggles with the effects of global recession, we as Canadians are looking ahead. We are using our strong balance sheets to aggressively fund initiatives during this recession in communities all across the country, initiatives that will generate economic growth for many years to come. By looking forward today, and investing in tomorrow's business leaders, we are seizing the opportunities that will help get us through these tough times and ensure this country emerges stronger than ever.

Thank you.

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