$25M donation aimed at supporting future Scarborough entrepreneurs
It's a full circle moment for entrepreneur Sam Ibrahim.
He would walk past pictures of successful graduates on the University of Toronto Scarborough campus while he was attending, wondering what it would be like to see his own there.
Twenty years later, his name is attached to a new centre that will help future entrepreneurs accelerate their ventures with a focus on inclusivity.
Ibrahim has donated $25 million dollars to create the Sam Ibrahim Centre of Inclusive Excellence in Entrepreneurship, Innovation and Leadership, which is currently being constructed.
He's hoping the project encourages students from Scarborough to develop their innovative ideas directly in their community.
"In Scarborough we have incredible talent and extraordinary potential for innovation and entrepreneurship," said Ibrahim at the announcement this past Monday.
"All we really need is the same level of access as everywhere else."
Ibrahim is the president of Arrow Group of Companies and co-founder of the Scarborough Shooting Stars, a professional basketball team.
He said he was inspired to partner with the university after the school's new medical academy announcement last year. The academy is designed to train doctors in communities with a high need for physicians.
The new innovation centre will house the schools startup incubator program, additional work space and an entrepreneur-in-residence, who will provide mentorship to innovators.
The funding will also go toward expanded programming, outreach activities and coaching resources. As well as creating three new awards for student entrepreneurs who are facing financial barriers.
"I want everyone to understand the most fulfilling thing you can do in your life is help other people achieve their dreams and that is what we are doing here today," said Ibrahim
Ibrahim's financial contribution was one of the largest in U of T Scarborough's history.
U of T vice-president and principal of U of T Scarborough Wisdom Tettey said as much as the centre will support local students, it will also take the skills of young people in the GTA global.
"[It] will truly be a place of innovation that will leverage the university's vast pool of entrepreneurial and research expertise and its global network to provide student innovators with world class connections, resources and learning opportunities," he said.
The building is expected to be open by 2024.
