Algonquin students like Adrian McGrath and Jared Potvin with their portable food production system could graduate with a diploma and a company, thanks to a $2-million boost from the province of Ontario.
The funding, shared between Algonquin, the University of Ottawa and Carleton University, was announced Feb. 6 at the AC Hub. The money will help students get the experience they need to grow a business.
“It’s important they learn these skills early on,” said Mark Hoddenbagh, executive director of Partnership and Applied Research at Algonquin.
Starting a company wasn’t covered in class, so third-year mechanical engineering technology student McGrath and electrical engineering grad Potvin reached out to their professor Rocha Bruno for mentorship.
Their goal is to make a small food production system that lets people grow their own produce close to home instead of having it shipped from far away.
According to McGrath, a head of lettuce can cost up to $28 in Iqaluit because of transportation fees.
“It’s absolutely ridiculous,” said McGrath. “Why can’t we help them?”
The pair met two years ago and launched their company abria Natural Technologies on Jan. 17.
Despite their professors’ support, McGrath said that he’s constantly second-guessing himself.
Students like McGrath and Potvin need their ideas validated and clarified, said Eleanor Sloan, entrepreneurship coordinator at Algonquin. That’s where the college can help.
Sloan said the $2 million will help fund the college’s entrepreneurship program for students aged 18 to 29 this summer. The chosen teams will be given guidance from experts, hands-on experience making a business plan and $5,000 in funding. Ideally they’ll have businesses by the end of the summer.
“In today’s economy so many of the new jobs that our graduates will occupy will be created by those graduates themselves,” said University of Ottawa president Alan Rock.
The college will also use the funds to bring in industry experts and pay for equipment that engages students in entrepreneurship activities.
“It offers great opportunities,” said Potvin.