Trico Charitable Foundation

Trico Charitable Foundation

February 14, 2011 12:30 ET

Trico Charitable Foundation Commits $2million to Social Entrepreneurship Movement

CALGARY, ALBERTA--(Marketwire - Feb. 14, 2011) - Trico Charitable Foundation (Foundation) Executive Chairman Wayne Chiu today announced three major Foundation initiatives to encourage and promote social entrepreneurship in Calgary and across Canada. "The Trico Charitable Foundation is focused on being a catalyst and incubator for the Social Entrepreneurship Movement and Social Enterprise in the non-profit sector. Today's announcement clearly demonstrates how we are going to do that," said Chiu.

A $500 thousand commitment has been made over five years as the Founding Partner of the Canadian Youth Business Foundation's (CYBF) "socialpreneur" Alberta initiative. This program will assist socially-minded Alberta entrepreneurs, between the ages of 18 and 34, in the establishment of new businesses. 

The Foundation has also launched an Enterprising Non-Profits program in Alberta (enp-ab). The Program Manager for enp-Alberta's office will be responsible for $500 thousand in direct funding. enp-Alberta's objective will be to empower Alberta non-profit organizations to enhance their sustainability by providing grants and technical assistance in support of the development and growth of their "profit-generating" social enterprise.

The third initiative is the establishment of the Trico Charitable Foundation Social EnterPrize. Every year two individuals and two organizations working in social enterprise in the non-profit sector will be awarded a cash prize to assist them in personal and organizational development and the advancement of their important work. The contribution to the Social EnterPrize totals more than $500 thousand over five years. "We are very excited about the Social EnterPrize and we encourage all non-profit organizations and individuals working in this field locally, regionally and nationally, to visit our website for entry details," said Chiu. "The 2011 Trico Charitable Foundation Social EnterPrize Celebration and Symposium will be held on November 17 with Calgary Mayor Naheed Nenshi as keynote speaker".

"Congratulations to Mr. Wayne Chiu in the creation of the Trico Charitable Foundation and what an honour to be chosen as an inaugural partner," said Vivian Prokop, Chief Executive Officer of the Canadian Youth Business Foundation. "Our collaboration will greatly advance social entrepreneurship in the province of Alberta and together, we will champion this movement to cultivate the next generation of socially-minded young entrepreneurs through education, awareness, advocacy and start-up support."

enp-Alberta is a joint initiative with highly successful Enterprising Non-Profits British Columbia (enp-bc), which has been operating for over ten years. "We have helped dozens of non-profits in BC set up thriving businesses and we are confident that enp-Alberta will have instant traction," said David LePage enp-BC Program Manager. "It's all about sustainability for organizations that are so vital to a caring community" LePage added.

The Calgary Foundation, a community foundation focused on strengthening the philanthropic sector, has determined that our city has a strong appetite for innovation and growth in the area of social entrepreneurship, and that non-profits and companies alike are coming together to achieve a connection between societal and economic growth. "Entrepreneurial companies are increasingly interested in work that has greater benefits for society, and we are proud to champion Trico Charitable Foundation's exciting social entrepreneurship and social enterprise initiatives," said Eva Friesen, The Calgary Foundation President and CEO.

About The Trico Charitable Foundation

Established in 2008, The Trico Charitable Foundation is dedicated to provoking innovation and building capacity in social entrepreneurship. Our vision is to grow a community of sustainable, entrepreneurial non-profit organizations. For more information please visit www.tricofoundation.ca

About the Canadian Youth Business Foundation

The Canadian Youth Business Foundation (CYBF) is the 'go to' place for youth entrepreneurship. As a national charity, we are dedicated to growing our nation's economy one young entrepreneur at a time. We look at character not collateral, when providing youth, age 18-34, with pre-launch coaching, business resources, start-up financing and mentoring, to help them launch and sustain a successful entrepreneurial business.
www.cybf.ca

About Enterprising Non-Profits

Enterprising Non-Profits (enp) is a collaborative program that provides grants and technical assistance to non-profit organizations to support the development or growth of their social enterprises. For more information on the history of enp please visit: www.enterprisingnonprofits.ca; for Alberta program details www.tricofoundation.ca

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