Ivey Business School gets $1.75M gift to boost business competitiveness
The Ivey Business School has received a $1.75-million gift from Canadian business giant Power Corp. and its affiliates, including London-based insurer Canada Life.
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The Ivey Business School is receiving a $1.75-million boost from Canadian business giant Power Corp. and its affiliates, including London-based insurer Canada Life.
The school at Western University will receive the money over eight years, with Canada Life, which is owned by Power Corp., contributing $300,000 to that total.
“We’re grateful for this generous gift, which will support teaching, research and public policy dialogue on building a more sustainable, competitive Canadian society,” Ivey Business School dean Sharon Hodgson said.
“There has never been a more important time for business, academia and government to work together to strengthen Canada’s socio-economic development.”
The Canada Life funding will go toward creating up to 24 student internships at the school over eight years. It comes on the heels of the London insurer giving $250,000 to Brescia University College, an affiliate school at Western.
Power Corp. will give $1.25 million directly and IGM Financial, $200,000.
IGM Financial’s contribution will fund five scholarships a year for the next eight years for women in the fourth year of the honours business program.
“At Canada Life, we believe the right support can make all the difference in someone’s life. That’s why we’re so proud to fund these important educational opportunities for so many future leaders, especially those who may have been underrepresented in the past,” Canada Life president Jeff Macoun said.
“We hope this opportunity to gain first-hand experience and learn from leading experts is just the beginning of a bright, successful career for each and every intern.”
But much of the funding will go toward a strategy at Ivey that will help its Lawrence National Centre for Policy and Management focus on competitiveness in Canadian business. The funding will strengthen its work in making Canadian business more competitive in the sectors of digital technology, trade and infrastructure.
“There is a clear need to unlock competitive advantages in this area,” said Romel Mostafa, director of the centre.
“This is boosting our activities. Investing in digital technology is important, but you have to have market access. We have to create pathways.”
The centre does research and works to influence policy in an effort to improve the competitiveness of Canadian business.
“We will essentially boost our outreach and teaching initiatives. The centre plays an important role in all these initiatives,” Mostafa said.
“We are absolutely energized. It will help.”
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