Student run organization Impact aims to create the next generation of entrepreneurs by connecting people, knowledge, and ideas amongst young entrepreneurial leaders. The non-profit organization has run a variety of events and conferences across Canada that promotes student entrepreneurship. A new announcement from the group sheds some light on an interesting project the Impact organization is putting together in Waterloo.
Impact Ventures was quietly mentioned in the groups June newsletter as a new program which will help talented innovative youth find funding, office space and guidance for new ventures. Impact says the program will be based on the famous Y Combinator model and will provide seed capital to new ventures. The program is launching a pilot in the fall with a full launch coming in 2010. Three to four stat ups will take place in a three month pilot of the program which will take place in Waterloo.
It will be interesting to see how this project unfolds, a Canadian Y Combinator style program would be a welcome addition to the entrepreneurial community. Many start ups founded by students struggle to find adequate seed funding and office space there will certainly be no shortage of start ups willing to participate.