NICOLE ALMOND
IAN AITKEN
President
Chairman & Founder
NICOLE ALMOND Enactus Canada
IAN AITKEN Enactus Canada
Student Entrepreneur National Champion
This year’s Student Entrepreneur National Champion was Ross Arsenault, founder of Ashored Inc. Approximately 85% of all North Atlantic Right Whale deaths were directly linked to gear entanglements. Subsequently, the Fisheries and Oceans Canada of the Federal Government, has begun closing fishing zones for 15 days upon the sight of a whale. This has directly affected thousands of commercial trap fishers who have short seasons and high daily yields. Ashored is focused on improving the sustainability of commercial fisheries through the development of user-friendly and purpose-built innovations. Ross has been able to develop strong industry relations, build trust among potential customers, and gain credibility as a thoughtleader in the industry. His business, a sustainable ocean tech start-up, is developing a bottom-bound ropeless fishing system to minimize the risk of whale entanglements and trap loss, while allowing fishers to fish in zones closed to fixed fishing gear. Fishers lose 8-10% of gear, an equivalent of 700,000 tonnes of ocean waste, annually. The inability to eliminate this waste has massive environmental implications. Usage of Ashored’s system will drastically reduce the potential for whale death and ocean waste caused by severed fishing lines and ghost traps. In addition to habitat protection, Ashored’s active-retrieval release is equipped with redundancy to ensure traps do not become ocean waste. Ashored assures that marine life will have a more sustainable future.
ROSS ARSENAULT SAINT MARY’S UNIVERSITY Enactus Canada operates the Student Entrepreneur National Competition, proudly presented by HSBC Bank Canada. It is the only national initiative of its kind that celebrates the commitment, determination and achievements of full-time students who also operate their own business.
BC 8
AB 10 SK 2
QC 6 MB 1
ON 34
NL 4 PE 1 NB 3 NS 10
V
Revenues
Assets CURRENT ASSETS Cash
$741,052
Short-term deposits
$505,111
Accounts Receivable
$144,244
Prepaid Expenses
$104,496
Corporate Foundation Individuals Government Administration Fees and Other
$13,055 $9,505
Expenses Program
$1,617,913
Liabilities
Accounts Payable and Accrued Liabilities
$195,884
Deferred Revenue
$487,126 $683,010
Restricted Unrestricted
$100,000 $834,903 $934,903 $1,617,913
$79,227 $2,544,398
$1,495,353 Long-term Deposits Capital Assets
$2,082,020 $242,741 $90,455 $49,955
$1,890,933
Operations and Administration
$364,469
Development
$193,013 $2,448,415
Operating Surplus
$95,983
Endowment Contributions
$100,000
Net Assets at Beginning of Year
$738,920
Net Assets at End of Year
$934,903