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Venture philanthropy is a term Dr. Chen Fong has coined to speak about investing in the next generation of business leaders. He invests in startup ventures as a way of giving back with the expected return not being the only parameter. What he has found in the process is that by providing capital to young people, not only will their ventures grow, but also the economy.

Fong, MD, spoke about his approach to startup investing and mentorship as he was recognized as the 2021 Distinguished Business Leader Award recipient on June 17. The award recognizes exceptional ethical leadership, career success and community service. The online gala was co-presented by Haskayne and the Calgary Chamber of Commerce, with support from gala partner Calgary Foundation.

Now known as incredibly networked, Fong says he didn’t understand mentorship until his mid-40s. Taking the spotlight at the event were four emerging Canadian success stories to which Dr. Fong has contributed and mentored: Innovere Medical, Clarius Mobile Health, Cohesic and Validere.

Funds raised from Distinguished Business Leader Award galas have provided scholarships to 65 outstanding Haskayne students since 2008. Dr. Fong was determined to exceed previous galas in raising scholarship funds and the total of over $400,000 is the best fundraising result in the history of the Distinguished Business Leader Award gala. The online donation platform is to recognized Dr. Chen Fong as the 2021 Distinguished Business Leader Award Recipient.