Projects
The core of ACE Memorial's projects meet the criteria of the SIFE program by teaching others about entrepreneurship, ethics, financial literacy, personal success skills, and free markets.
Launch Pad is ACE Memorial's student-run entrepreneurial incubation centre and provides student business owners with the tangible and intangible resources needed to build successful businesses. ACE Memorial has developed strategic partnerships with other established entrepreneurial organizations to deliver the highest quality experience. Launch Pad has over 2000 sq/ft, 4 full time clients and 11 associate clients.
Port Hope Simpson is on the southeast coast of Labrador and has the highest per capita incidence of Myotonic Dystrophy in the world. The Moulder of Dreams Pottery Studio provided therapy for those living with the disease, as well as improving the economy of this struggling community. However, the Studio lacked the entrepreneurial expertise to be successful and closed in 2005. ACE Memorial is working closely with the community to reopen the studio, thus improving the economy of Port Hope Simpson.
To teach the importance of ethical behavior in business and in life, ACE Memorial developed the Ethics Challenge. In partnership with SHAD Valley, an international organization that hosts annual summer camps across Canada for the brightest high school students, this 3-phase project taught real world application of ethical theories and concepts.
After holding a series of focus groups, ACE Memorial teamed up with the Multicultural Women's Organization of Newfoundland and Labrador to create Project Passport. In 2007, Project Passport taught 48 immigrants technology, resume/interview, accounting, and business plan writing skills. We also innovated the program to have a greater focus on entrepreneurship and are now working directly with 10 graduates to develop their own business plans. Since the sessions, government and enterprise support organizations have partnered with the participants to begin developing their business ideas. This project was awarded an international grant from the HSBC Financial Literacy Fund in 2006.
Now in its 6th year, Youth in Business is the longest running SIFE program in Canada. Using our portfolio of 14 projects, ACE Memorial teaches a wide range of business skills to develop mentally challenged individuals, at-risk youth, Aboriginals, and students of all ages. One of the 14 projects in the Youth in Business portfolio is ACEing Education. ACEing Education was developed in partnership with Memorial University's Faculty of Education. Over one term, our members gave a senior level university class of future teachers the necessary activities to teach the principles of entrepreneurship and economics in an interactive and engaging manner. As the students graduate and integrate these activities into their curriculums, ACEing Education will change the face of high school enterprise classes across the province.
Business Education Growing In Newfoundland and Labrador was added to the YIB portfolio in 2006 and focuses on business and personal financial skills. This project was split up into two parts. In part one, students are divided into teams and then given a loan, or seed money, which was used to develop a product. The students were taught the fundamentals of business operations, such as customer service, budgeting, advertising, and ethics, all while introducing students to the real world of business. Part One ended with a large selling event where students were responsible for selling their developed product
Part Two shifted the focus towards financial independence and included interactive sessions on budgeting, investing, personal banking and credit management. To gauge the student’s spending habits; they were challenged to record week long spending diaries to determine their unnecessary expenses. For more information on the project, click on the link below:
ACE Memorial recognized an opportunity for Newfoundland and Labrador businesses to team up with Memorial University of Newfoundland's Harlow, UK campus and turned the concept into an accredited university course. Students at the Harlow campus conduct market research, develop partnerships, research potential mergers and joint ventures, and help introduce businesses to the European market.
Think Green is a student-run business created in partnership with local elementary schools. From website development to keeping the finances in line, ACE Memorial gives the students the essential business skills to run a profitable recycling business. In 2006, this project saw the collection of over 117,000 recyclables and revenues of $20,000. To meet demand from other elementary schools, a project guidebook has been developed. Now, SIFE teams around the world are running their own Think Green businesses.
Piloting on Bell Island, NL in 2006, STEPS (Shifting to Entrepreneurial Power and Success) informs the island's youth of existing entrepreneurial and growth opportunities. Government officials recognized its unparalleled value and have helped expand STEPS to other rural areas across the province. Now, in 2007, we have expanded the program to Grand Falls-Windsor and Port Hope Simpson in partnership with FINALY! (Futures in Newfoundland and Labrador Youth).
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