Four funds of the Youth Job Strategy, contained within the 2013 Ontario budget released May 2:
Ontario Youth Employment Fund
A commitment of $195 million in wage subsidies over the next two years to companies, in order to help create employment opportunities for 25,000 youth across Ontario. The government has promised to use Employment Ontario’s network of services to help young people find suitable job placements, with special focus placed on helping at-risk youth, aboriginal youth, minorities, recent immigrants and youth from rural communities find work.
Ontario Entrepreneurship Fund
A $45 million investment over the next two years toward creating nearly 6,000 mentorship and job opportunities for Ontario’s next generation of entrepreneurs. The fund will be used to provide young entrepreneurs startup capital and small loans, access to mentors to provide coaching, and necessary tools through high school classroom presentations and experiential learning.
Ottawa Innovation Fund
The government will provide $10 million over two years to provide youth with skills to manage industrial research, development and commercialisation. The investment will go through Ontario Centres of Excellence. A further $20 million will be allocated toward On Campus Accelerator Centres to improve entrepreneurial development in Ontario’s college and university institutions.
Business-Labour Connectivity and Training Fund
An investment of $25 million over the next two years toward bringing business, labour, educators and youth together to develop youth-training programs. These development initiatives will be designed to give young people the skills needed to succeed in the workplace.
—Source: Ontario Finance Ministry
