In November 2013, The RBC Foundation committed $250,000 in funding over five years to help launch the RBC Business Accelerator Centre in the Chiu School of Business (CSB). Sharing RBC's belief in "the power of communities and the individuals who live in them," the Chiu School of Business has developed capacity to inspire, promote and support community-based entrepreneurship and this pilot initiative is being taken to the next level.
The CSB has put a focus on developing capacity to support community-based entrepreneurship. The focus is on providing resources and training, complemented by business coaching and mentoring, to instill confidence in new entrepreneurs to form a business. Entrepreneurs utilize the RBC Business Accelerator Centre to capitalize on innovative business ideas and learning the necessary fundamentals of a business such as business planning, financial skills, human resource management, and marketing strategies.
Finding new talent for startup businesses was once again successful through the College's annual business idea competition: VentureQuest. Through a series of skill-building workshops, VentureQuest participants learn to create and effectively communicate business ideas, evaluate business feasibility, build financial projections, and present a powerful pitch in front of a panel of judges (made up of industry partners like RBC). Offered over the duration of the competition, all training is designed to focus on the practical skills entrepreneurs need to create and sustain a successful business while refining their business ideas and presentation skills.