For Immediate Release
Friday, April 21, 2017
Libro Credit Union and Western University partner to jumpstart entrepreneurs
LONDON, ON – Libro Credit Union (Libro) is joining Western University as a partner in the Western Accelerator, a flagship program of the University’s new campus-wide investment in an entrepreneurship ecosystem. Once fully operational, The Accelerator will provide intense, rapid and immersive education for students, faculty and recent alumni with high-potential business ideas.
Libro has committed $50,000 per year for five years to support the development and implementation of the new program. Libro’s President and CEO, Stephen Bolton, will have a hands-on role in shaping the future direction of The Accelerator as a member of The Accelerator Advisory Group.
“The possibilities of this initiative are incredibly exciting,” said Bolton. “Helping nurture the next generation of entrepreneurial leaders, and making it more attractive for them to engage and grow in southwestern Ontario, is what Libro is all about – growing prosperity here, using the tremendous resources we have at hand.”
Accelerating the life cycle of high-potential ventures and compressing a year’s worth of learning into four months, the highly competitive program will accept eight to 12 teams each year. These entrepreneurs will have the opportunity to collaborate with other start-ups in diverse areas, network among alumni, faculty and business leaders, and benefit from access to mentors, investments and collaboration in one space uniquely designed for their needs.
Impacts of the program on southwestern Ontario:
- Cultivates an engaged and invested local business community
- Fosters innovation, productivity, job creation and economic growth in the region
- Helps retain talent in the region and prepare start-ups to compete in a global economy
“Western is looking to provide an outlet to respond to unprecedented demand for entrepreneurship education. Through The Accelerator, Western will be committed to providing entrepreneurs with the tools, resources and discipline to succeed in a competitive world.” says Eric Morse, Executive Director, Pierre L. Morrissette Institute for Entrepreneurship and professor at Western’s Ivey Business School. “It’s a pleasure to have Libro as a partner in this venture, knowing its strength in supporting economic development and connections, especially in the surrounding communities of southwestern Ontario.”This partnership aligns with Libro’s focus on building prosperity in southwestern Ontario by transforming banking, through thought leadership, and by sharing knowledge and expertise. Libro also has ties with economic and entrepreneurial programs at the University of Guelph and St. Paul’s College at the University of Waterloo.
Libro’s President and CEO, Steven Bolton, is available for further discussion upon request.
About Libro Credit Union
Libro is Ontario’s fourth largest credit union with $4 billion in assets under administration and more than 103,000 Owners across southwestern Ontario and has been recognized as a 2016 & 2017 Platinum Level Aon Best Employer in Canada. As a co-operative financial institution with more than 70 years of history, Libro supports the well-being of people, businesses and communities by providing high-quality financial coaching and profit sharing. Libro is proud to support The Prosperity Project, which aims to grow prosperity in southwestern Ontario by mobilizing and inspiring collaboration, strengthening the financial health of people, families and businesses, and investing in our communities to help the region prosper together. Libro offers a full range of financial products and services for consumers, businesses and farms, including savings and chequing, investing, and borrowing. Great service can be experienced through 31 branches, online, telephone, mobile devices and a network of 4,000 ATMs across Canada. For more information, visit libro.ca/media.
For further information, please contact:
Mike Donachie, Communications Manager, Libro Credit Union
P: 519-672-0130 ext. 4344, C: 226-926-4068, E: mike.donachie@libro.ca