Toronto, ON – October 25, 2016 – The Rotman School of Management’s Creative Destruction Lab has named SHAD the winner of its 2016 Labour Award, designed to recognize an individual or organization that has had a first-order impact on Canada’s competitiveness through the development and promotion of human capital in the areas of science, technology, and commerce.
“SHAD has become one of the world’s leading programs to empower exceptional students early in their education,” says Ajay Agrawal, Peter Munk Professor of Entrepreneurship at the Rotman School of Management at University of Toronto.
SHAD was founded in 1980 to empower exceptional youth to reach their potential. Top high school students attend an intensive summer program focused on STEAM (science, technology, engineering, arts and math) in addition to business and entrepreneurship and then become connected to a network of 15,000 alumni which includes 30 Rhodes Scholars and leaders in many fields.
Tiff Macklem, Dean of the Rotman School and former Senior Deputy Governor of the Bank of Canada, will present the award to SHAD at a conference promoting technology entrepreneurship in Canada at the Rotman School on October 27.
“SHAD has an impressive track record of contributing to the development of Canada’s competitiveness by coaching young innovators and entrepreneurs. Past participants are already having a meaningful impact in Canada and abroad,” says the founder of Rotman’s Creative Destruction Lab Ajay Agrawal.
He adds, “The spillovers that accrue to Canada as a result of the SHAD program are immense. This award recognizes the unrelenting efforts as a visionary program, identifying and nurturing talent early and thereby laying foundations for our nation’s future."
“We thank the Rotman School of Management for this incredible honour for SHAD which speaks to all of the amazing Fellows who are making an impact in Canada and beyond,” says Tim Jackson, President and Chief Executive Officer of SHAD.
“We hope to continue to lay these foundations for our nation’s future for decades to come,” Jackson adds.
This is the second year for the award. The world renowned Engineering and Co-Op programs at the University of Waterloo won the inaugural Labour award recognizing its unique model for education, entrepreneurial spirit and professional training.
Founded by Rotman Professor Ajay Agrawal, the Creative Destruction Lab is a program based at Rotman School of Management, University of Toronto. The Lab leverages the University’s leading faculty and industry network as well as its location in the heart of Canada’s business capital to accelerate massively scalable, technology-based ventures that have the potential to transform our social, industrial, and economic landscape.
ABOUT THE CREATIVE DESTRUCTION LAB AWARDS
The Creative Destruction Lab at the University of Toronto was founded by economists, designed using economic principles, and named after an expression used by the first economist, Joseph Schumpeter, to emphasize the role of the entrepreneur in economic growth under capitalism. Unsurprisingly, the Lab designed its three annual awards around the primary ingredients in the dismal discipline's prevailing models for economic growth: labour, capital, and ideas.
SHAD (www.shad.ca) is a Canadian charitable non-profit organization that helps exceptional high school students recognize and envision their full potential as tomorrow’s leaders and change makers. Each year, the SHAD program provides the opportunity for about 700 students from across Canada and internationally to attend a transformational month-long summer program at one of 13 Canadian host universities focused on STEAM (science, technology, engineering, art and math). There are currently 15,000 SHAD alumni all sharing the Uncommon Purpose of the SHAD experience and able to leverage their SHAD network for life. Applications for the summer of 2017 are currently available at www.shad.ca/apply
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