Dec. 12, 2013
ECE student Victor Zhang (ElecE 1T4) has snagged a coveted spot in The Next 36‘s 2014 cohort, one of 10 U of T Engineering students selected for the popular entrepreneurship program.
The Next 36 program is designed to train Canada’s next generation of innovators and business leaders. Competition this year was tough, with close to 1,000 applicants.
“I always try to see how we can improve the world around us and use technology to create tremendous value in people’s lives. Take the world we live in, try to see what we’ve just come to accept as ‘normal’ or status-quo and then go ahead of innovate, create and revolutionize,” says Zhang. “What the Next 36 brings is an excellent opportunity to execute on these ideas and learn and experience failures and success along the way.”
Those who are selected are given the opportunity to develop their business ideas and put them into action with help from Canadian business leaders, mentorship and lectures from world-class faculty over a nine-month period, according to Jon French, spokesperson for The Next 36. This entrepreneurship-immersion program also provides those selected with up to $95,000 in seed investment for new ventures.
Zhang’s project is still under wraps, “but it’s going to be consumer-facing and won’t be bound by Canadian borders!” he says.
“We’re very proud to see Victor representing ECE in this 2014 cohort of upcoming entrepreneurs,” says Farid Najm, professor and chair of The Edward S. Rogers Sr. Department of Electrical & Computer Engineering. “It’s a major accomplishment to be accepted into this program, and he’ll excel.”
“It is very rewarding from the work we are doing that the spirit of entrepreneurship is coming alive. Seeing 10 of our students among The Next 36 shows the message of innovation and an understanding of business is coming through,” says Joseph Orozco, Executive Director, Entrepreneurship – The Entrepreneurship Hatchery and Adjunct Professor of the Centre for Management of Technology and Entrepreneurship (CMTE). He noted that one of The Next 36 students has applied to the Hatchery program, which offers similar services, and he hopes to see more.
“I personally believe we all have an entrepreneurial seed inside of us. What we do here is allow that seed to flourish. It’s not always about creating your own business but being able to work in any environment, any company. These students are going to be better members of society,” he says.
That the spirit is alive is demonstrated by the fact five of U of T’s Next 36 students are either enrolled in, or have completed Engineering entrepreneurship courses. “I took APS234 with Professor Joseph Paradi last year and can firmly say that it was phenomenal. He’s an amazing entrepreneur, crafty businessman and solid in his beliefs, which is why the discussions in class were great to be a part of,” says Zhang.
The U of T Engineering students in The Next 36 will be building their start-ups along with their co-founders and mentors. Ideas presented by students included a motorized blimp for filming events, a fashion consulting platform, leveraging GPS and Bluetooth to help parents monitor young children, and wearable technology for athletes.
Projects may change from the initial idea over the course of the program as Venture Day in mid-August 2014 approaches — the program’s annual Capstone Event showcases ventures to investors and business leaders from across North America. It is also when the students will officially graduate from The Next 36 program.
The Next 36 was started as a way to address Canada’s shortage of high-impact entrepreneurs. The organization provides a resource-rich program to a select group of promising undergraduates, and was founded by a small group of entrepreneurs, business leaders and academics, a number of whom are U of T Engineering alumni.
Along with Zhang, this year’s student selection includes: Timothy Ahong (EngSci 1T3 + PEY), Amir-Hossein Karimi (EngSci 1T4), Shums Kassam (EngSci 1T5), Vivek Kesarwani (EngSci 1T3 + PEY), Drew MacNeil (EngSci 1T5), Tejas Mehta (EngSci 1T4 + PEY), James Schuback (EngSci 1T3), Jonathan Yam (EngSci 1T3) and Cheng Zhao (EngSci 1T2 + PEY).
With files from Pippa Wysong
More information:
Marit Mitchell
Senior Communications Officer
The Edward S. Rogers Sr. Department of Electrical & Computer Engineering
416-978-7997; marit.mitchell@utoronto.ca