UPDATE/Stephane Manos and Ouissam Youssef Establish New Concordia University Entrepreneurship Award

MONTREAL, QUEBEC--(Marketwired - April 25, 2017) - Montreal entrepreneurs Stephane Manos and Ouissam Youssef are paying their success forward by creating the Concordia University ENCS Entrepreneurship Award for Capstone Design in District 3. The award will encourage and reward Capstone design teams from any department within the Faculty of Engineering and Computer Science for their work to implement successful commercialization plans for Capstone design projects, developed within Concordia University's District 3.

District 3 is a community dedicated to collaboration, innovation and entrepreneurship, located in a dynamic workspace on university grounds. The think tank empowers Concordia students, faculty, and alumni from various disciplines to collaborate on challenging real-world initiatives that transform bold ideas into tangible ventures for the betterment of society. District 3 strives to attract and retain outstanding students, develop innovation and entrepreneurship skills, support product development and foster mentorship collaborations with experts and Concordia alumni.

"At Concordia's Faculty of Engineering and Computer Science, we take great pride in the successes of our alumni, but it's particularly gratifying when these successful alumni chose to give back. So, it's heartening that Mr. Manos and Mr. Youssef have made this generous commitment to the students of ENCS and the entrepreneurial mission of District 3. The award will enable selected students to prototype their capstone project for possible commercialization." - Dr. Amir Asif, Dean of the Faculty of Engineering and Computer Science.

The mission of District 3 is close to the hearts of Manos and Youssef, both graduates of the Concordia Faculty of Engineering and Computer Science's Computer Engineering program, where they met and launched their first businesses together while completing their studies. In the decade that followed, the partners built a number of internationally successful online ventures, leading to the foundation of Valsoft Corporation, a company devoted to the acquisition and development of software businesses in niche vertical markets.

"Our entire business philosophy, regardless of the type of industry, is based on entrepreneurship," stated Youssef. "When we acquire companies, we are motivated first and foremost by our respect and admiration for the people who founded them and the impact of their work. We take pride in providing entrepreneurs with the resources and platforms to expand their vision."

"We remember our years at Concordia vividly, and our dreams and aspirations when we started our first business," added Manos. "The establishment of the ENCS Entrepreneurship Award for Capstone Design in District 3 is our way of paying it forward and honouring the support we received when we started out."

The $10,000 annual ENCS Award will begin in May 2017 and continue for 5 years. To be eligible, student team members must be enrolled in any department within the Faculty of Engineering and Computer Science's fourth-year Capstone Design Project. The departmental Capstone coordinators will launch a call for submissions this spring and a selection committee comprised of the director of District 3 and two faculty members will choose the best Capstone design project and commercialization plan. The Award will be open to Canadian citizens, permanent residents, and international students.

"Be humble. Stay hungry!" - Stéphane Manos and Ouissam Youssef