Running News Daily

Canadian entrepreneur donates $1.2 million toward Olympic and Paralympic medallists

The Canadian Olympic Foundation and the Paralympic Foundation of Canada announced on March 30 that Canadian tech entrepreneur Sanjay Malaviya has made a $1.2 million donation to directly support Team Canada’s Tokyo 2020 and Beijing 2022 medallists.

This is the first time a large gift of this magnitude has been given directly to Olympic and Paralympic medallists through the Canadian Olympic Foundation. Each athlete who won a medal in Tokyo or Beijing will receive a $5,000 grant per medal earned. Another $100,000 will go directly to the NextGen program, which helps support future Canadian Olympians and Paralympians. 

In a press release from the Canadian Olympic Committee, Malaviya said, “Our Olympic and Paralympic athletes have inspired this country and united us during a very difficult time. It’s an honour to be able to celebrate their achievements and help them invest in their future.”

There were 50 medals won by Canadian athletes at the Tokyo and Beijing Olympics and 47 medals at both Paralympics. One hundred and thirty Olympians and 53 Paralympians will receive the $5,000 grant through this donation. The high number is due to the number of rostered athletes on the women’s hockey and soccer teams, which both won gold at the Tokyo Games. 

Canada’s Andre De Grasse will be one of the top-earning athletes from this donation, winning three medals in the 100m, 200m and 4x100m relay at the Tokyo Olympics. 

“The gift Malaviya has made is truly remarkable, especially following the challenges Canadian athletes had to face over the past few years,” said Jacquie Ryan, Chief Brand and Commercial Officer of the Canadian Olympic Committee and CEO of the Canadian Olympic Foundation.

Malaviya is a Canadian healthcare technology entrepreneur who has developed advanced IT products that have helped more than 2,000 health organizations around the world. His passion for sport comes from his appreciation of the lessons that athletes can carry from sport to all other aspects of life. “Team Canada athletes have demonstrated that can handle anything over the past two years,” says Malaviya. “The past two games have been a source of inspiration for all Canadians to share Olympic and Paralympic values.

This gift will play a pivotal role in empowering Canada’s top Olympic athletes as they begin to prepare for the podium in Paris 2024 and Milan-Cortina 2026.