|By PR Newswire||
|March 17, 2014 06:00 AM EDT||
Low interest loans help entrepreneurs provide job opportunities for disadvantaged groups
TORONTO, March 17, 2014 /CNW/ - In a move to improve employment opportunities for youth and disadvantaged groups in Canada, RBC is investing in Social Capital Partners' (SCP) Community Employment Loan portfolio. RBC Generator, the investment arm of RBC's Social Finance initiative, has purchased $250,000 of the portfolio and has made an additional commitment of $450,000 to SCP over the next three years.
Since its inception in 2001, SCP has been dedicated to discovering new and powerful ways to improve access to employment for those who are disadvantaged. Collaborating with publicly-funded employment service providers and private sector businesses, SCP develops innovative solutions that tackle the issues faced by both job seekers and employers.
Through the Community Employment Loan program, SCP facilitates access to low interest financing for entrepreneurs and small business owners who commit to hiring those at a disadvantage, including youth, new Canadians and people with disabilities. The terms of the Community Employment Loan are directly linked to outcomes: for every employee hired from a community partner, the interest rate on the loan decreases. Such financing attracts community-minded business owners who have a high number of entry-level positions with the potential for career growth and advancement. It's a win-win scenario: job seekers are offered opportunities for meaningful employment, while entrepreneurs gain access to attractive financing terms and motivated employees.
"By linking interest rates to employment outcomes, SCP is demonstrating how financial incentives can drive social good in a way that makes sense for business owners," said Sandra Odendahl, head, RBC's Social Finance initiative. "SCP is a leader in the social finance landscape in Canada, and through this initiative RBC hopes to further engage the private sector in using business to drive positive social impact."
"SCP is proud of RBC's involvement in this initiative," said Bill Young, founder and president of Social Capital Partners. "We view this as an important step to expand the use of community employment practices by Canadian business owners, helping to facilitate employment access to countless job seekers who face added obstacles in finding work. We believe this is a prime example of how social finance can be leveraged to engage the private sector and generate win-win solutions."
SCP has helped facilitate financing more than $3.5-million to entrepreneurs and small business owners across Ontario to date. RBC's involvement will be invaluable in making this type of financing more prevalent in the marketplace to scale social impact.
About Social Capital Partners
Social Capital Partners (SCP) is dedicated to discovering new and powerful ways to improve access to employment for those who find themselves at a disadvantage. Working closely with key players in the public, private and non-profit sectors, SCP aims to design, ignite, and prove new models that benefit job seekers and employers -- sharing what works with strategic allies who can impact the most people. SCP is driven and guided by what will have the greatest impact on access to meaningful employment; the Community Employment Loan program is one result of this unique approach.
About RBC Social Finance
The RBC Social Finance initiative, launched in 2012, is a multi-million dollar commitment to help ignite social and environmental change through investment activity. This commitment includes the $10-million RBC Generator, a pool of capital dedicated to financing enterprises addressing social and environmental challenges; a significant investment of RBC Foundation assets into socially responsible investments; and strategic partnerships to catalyze the growth of social finance in Canada. RBC is recognized among the world's financial, social and environmental leaders and is listed on the 2014 Dow Jones Sustainability World Index, the DJSI North American Index, the Jantzi Social Index and the FTSE4Good Index. RBC is one of Canada's Greenest Employers, and one of Canada's 50 Most Socially Responsible Corporations. For more information, visit www.rbc.com/socialfinance.
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Sep. 28, 2016 10:15 AM EDT Reads: 3,215
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the...
Sep. 28, 2016 10:00 AM EDT
Big Data has been changing the world. IoT fuels the further transformation recently. How are Big Data and IoT related? In his session at @BigDataExpo, Tony Shan, a renowned visionary and thought leader, will explore the interplay of Big Data and IoT. He will anatomize Big Data and IoT separately in terms of what, which, why, where, when, who, how and how much. He will then analyze the relationship between IoT and Big Data, specifically the drilldown of how the 4Vs of Big Data (Volume, Variety,...
Sep. 28, 2016 10:00 AM EDT Reads: 1,081
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Sep. 28, 2016 10:00 AM EDT Reads: 2,206
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Sep. 28, 2016 10:00 AM EDT Reads: 4,391
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Sep. 28, 2016 09:45 AM EDT Reads: 5,093
Apache Hadoop is a key technology for gaining business insights from your Big Data, but the penetration into enterprises is shockingly low. In fact, Apache Hadoop and Big Data proponents recognize that this technology has not yet achieved its game-changing business potential. In his session at 19th Cloud Expo, John Mertic, director of program management for ODPi at The Linux Foundation, will explain why this is, how we can work together as an open data community to increase adoption, and the i...
Sep. 28, 2016 09:15 AM EDT Reads: 1,068
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Sep. 28, 2016 09:15 AM EDT Reads: 3,163
SYS-CON Events announced today that Interface Masters Technologies, a leader in Network Visibility and Uptime Solutions, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Interface Masters Technologies is a leading vendor in the network monitoring and high speed networking markets. Based in the heart of Silicon Valley, Interface Masters' expertise lies in Gigabit, 10 Gigabit and 40 Gigabit Eth...
Sep. 28, 2016 09:00 AM EDT Reads: 2,640
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software sec...
Sep. 28, 2016 09:00 AM EDT Reads: 1,279
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, showed how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningful f...
Sep. 28, 2016 09:00 AM EDT Reads: 2,753
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Sep. 28, 2016 09:00 AM EDT Reads: 3,843
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Sep. 28, 2016 08:45 AM EDT Reads: 1,129
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
Sep. 28, 2016 08:45 AM EDT Reads: 2,550
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Sep. 28, 2016 08:45 AM EDT Reads: 1,202