Woodward family donates $500,000 to expand student entrepreneurship at Memorial
A $500,000 donation from the Woodward family will expand Memorial University’s student startup competition, building on more than a decade of support for entrepreneurship at the St. John’s institution.
The investment goes to the Faculty of Business Administration and will help sustain and grow the Mel Woodward Cup, Memorial’s flagship student startup competition, which is now in its 10th year.
The Mel Woodward Cup is run through the Memorial Centre for Entrepreneurship, which was established in 2016 and now engages more than 300 students annually from across all faculties. The centre supports students at no cost and takes no equity stake in their ventures.
Since its launch, the competition has awarded more than $350,000 directly to student-led businesses. Companies that came through the MCE’s programs have collectively created more than 200 full-time equivalent jobs and raised over $125 million in venture capital.
Notable success stories include CoLab Software, BreatheSuite and PragmaClin, all of which started as student ideas at Memorial.
This year’s Mel Woodward Cup was won by OmaScan, a startup developing a smartphone-based 3D scanning app to help occupational therapists and families assess home safety for older adults.
Peter Woodward, speaking on behalf of his family, said they were overwhelmed by the competition’s success and wanted to ensure the prize kept pace with inflation to continue motivating students. He said his late father held Memorial in high regard and considered it essential to the province’s success.
“Our dad held Memorial in high regard and considered it essential to our success as a society,” Woodward said. “It is the appropriate place to honour him.”
Memorial president Janet Morrison said the gift reflects confidence in students and the university’s ability to turn new ideas into meaningful impact.
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