This article has been edited from the original written by Daniel Ferguson for Memorial University.

A new investment of $500,000 from the Woodward family is set to expand the Mel Woodward Cup, Memorial University’s flagship student startup competition.

The investment builds on the Woodward family’s long history of support for student entrepreneurship at Memorial, reflecting deep confidence in Memorial students and the university’s entrepreneurial ecosystem and its fundamental role in translating new ideas into meaningful impact.

“This gift reinforces that Memorial is a place where students don’t just learn about the world as it is, they actively shape what comes next,” said President Janet Morrison. “The Woodward family’s continued generosity demonstrates confidence in our students and in Memorial’s 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 Memorial 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.

Since its launch, the competition has awarded over $350,000 in direct funding to student‑led ventures, alongside mentorship and professional services that help turn strong pitches into sustainable businesses.

As the competition celebrates its 10th year, the additional $500,000 in funding from the Woodward family will help sustain and grow the competition for years to come.

Measurable impact

Companies supported through MCE programming have collectively created more than 200 full‑time equivalent jobs and raised over $125 million in venture capital, contributing directly to economic diversification in the province.

High‑profile success stories such as CoLab Software, BreatheSuite, and PragmaClin began as student ideas nurtured within Memorial’s entrepreneurial ecosystem.

Serving the needs of N.L.

Entrepreneurship at Memorial 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.

The startup took the top prize for its smartphone‑based 3D scanning application that helps occupational therapists and families assess home accessibility and safety for older adults.

A sign of confidence in Memorial’s future

“The 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. “This 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 Memorial’s role in supporting them — make a difference.”