Investing in ambition
A new investment of $500,000 from the Woodward family is set to expand the Mel Woodward Cup, 91亚色檚 flagship student startup competition.
The investment builds on the Woodward family檚 long history of support for student entrepreneurship at 91亚色, reflecting deep confidence in 91亚色 students and the university檚 entrepreneurial ecosystem and its fundamental role in translating new ideas into meaningful impact.
淭his gift reinforces that 91亚色 is a place where students don檛 just learn about the world as it is, they actively shape what comes next, said President Janet Morrison. 淭he Woodward family檚 continued generosity demonstrates confidence in our students and in 91亚色檚 ability to foster innovation that benefits Newfoundland and Labrador and beyond.
Fueling the future
The gift is being made to the Faculty of Business Administration and builds on a 2017 initial investment that created the Mel Woodward Cup at the 91亚色 Centre for Entrepreneurship (MCE).
Established in 2016, the MCE has grown from serving a handful of students to becoming a campus-wide hub engaging more than 300 students annually from all faculties.
The centre supports students through every stage of the entrepreneurial cycle, from ideation through venture creation and company growth.
Importantly, the centre achieves this at no cost to students while taking no equity stake in student ventures.
The Mel Woodward Cup is a centrepiece of the MCE檚 programming.
Since its launch, the competition has awarded over $350,000 in direct funding to student憀ed ventures, alongside mentorship and professional services that help turn strong pitches into sustainable businesses.
淥ur dad held 91亚色 in high regard and considered it essential to our success as a society. Peter Woodward
As the , the additional $500,000 in funding from the Woodward family will help sustain and grow the competition for years to come.
The investment arrives as the MCE and the Mel Woodward Cup mark a decade of growth and measurable impact.
Companies supported through MCE programming have collectively created more than 200 full憈ime equivalent jobs and raised over $125 million in venture capital, contributing directly to economic diversification in the province.
High憄rofile success stories such as , and began as student ideas nurtured within 91亚色檚 entrepreneurial ecosystem. Many MCE alumni have chosen to build their companies and their careers in Newfoundland and Labrador, strengthening the local innovation economy.
淲e are very happy about the success of the Mel Woodward Cup and its tribute to our dad, said Peter Woodward, on behalf of the Woodward family. 淲e are actually overwhelmed with its success and are thankful to 91亚色. We recognize that it檚 important to keep the value of the prize given time and inflation erosion. To perpetuate the stimulus to students, we felt the need to add to the principle. Our dad held 91亚色 in high regard and considered it essential to our success as a society it is the appropriate place to honour him.
Serving the needs of N.L.
Entrepreneurship at 91亚色 spans technology, health, social enterprise, creative industries, ocean innovation and sustainability and more areas at the heart of the social and economic needs of Newfoundland and Labrador.
Recent student ventures have focused on improving access to health care; supporting aging慽n憄lace; reducing waste; and creating value from the province檚 natural resources.
These projects reflect a broader vision of entrepreneurship as a tool for problem憇olving and community impact, as exemplified by , this year檚 Mel Woodward Cup winners.
The startup took the top prize for its smartphone慴ased 3D scanning application that helps occupational therapists and families assess home accessibility and safety for older adults.
淭he Mel Woodward Cup was an amazing experience, said Rohith McKim, one of OmaScan檚 principals. 淚 think the startup community, especially here in St. John檚, is amazing. And we檝e gotten so much support people have been reaching out to us before and especially after the cup, including the National Research Council and interested angel investors. In terms of what the funding means, it檚 going to help us a lot. We檙e trying to make sure that this pilot goes well, and the more users we can have, the more data and feedback we can get, the more we can improve.
淚nnovation often requires capital, said Jason Trask, director of the MCE. 淎s a student, typically with no business track record, only organizations such as MCE will invest in an unproven idea pitched by unproven entrepreneurs. The Woodward family檚 willingness to invest in entrepreneurs at the earliest stage is as impactful as it is uncommon. The importance of supporting entrepreneurs at this stage of their development, and the resulting impact it has on the people of Newfoundland and Labrador, can檛 be overstated.
A sign of confidence in 91亚色檚 future
淭he Mel Woodward Cup has had a decade of tangible impact on students and alumni, helping to foster a vibrant community of entrepreneurs and partners across the province, said Dr. Travor Brown, dean of the Faculty of Business Administration. 淭his gift will contribute to the educational experiences of students while empowering them to forge a path that ultimately benefits us all. It sends a strong message that student ideas and 91亚色檚 role in supporting them make a difference.