Funds will strengthen innovation and entrepreneurship ecosystem and collaborations
April 20, 2017 – Moncton, NB – Atlantic Canada Opportunities Agency
Venn Innovation Inc. will enhance and expand its range of services to support small businesses at the start-up and growth stages, thanks in part to investments from the governments of Canada and New Brunswick.
The Honourable Ginette Petitpas Taylor, Member of Parliament for Moncton-Riverview-Dieppe, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), and Monique LeBlanc, MLA for Moncton East on behalf of Hon. Donald Arseneault, Minister responsible for the Regional Development Corporation, joined Venn Innovation Inc. officials today for the announcement.
The investments will further develop the Vennture Garage program by expanding the delivery of mentoring, advice and support to participating individuals and teams. SMEs and individual tech entrepreneurs will have access to specialized professional development support and advice delivered through workshops, seminars and one-on-one consultations. Also, corporate innovation programming to facilitate matchmaking for New Brunswick companies and entrepreneurs using Venn's existing network partnerships are being introduced.
The Government of Canada provided Venn Innovation Inc. with a non-repayable contribution of $398,600 through ACOA's Business Development Programm. The Government of New Brunswick is investing $363,200, while the proponent is investing $167,500 towards the project. The City of Moncton is also providing support towards the project.
This project builds on the Government of Canada’s commitment to drive economic growth in Atlantic Canada through the Atlantic Growth Strategy, which supports strategic investments in initiatives that build on the region’s competitive advantages, such as its strong export potential, growing innovation ecosystem, and skilled workforce.
“Canada is a nation of innovators. Innovation not only helps to strengthen and grow the middle class, it opens up possibilities for improving everyone’s quality of life.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA.
“Venn Innovation Inc. has built a solid reputation as one of Canada's innovation hub organizations, offering an array of entrepreneurial support activities, customized programs and services for firms at different stages. I am pleased that the Government of Canada is helping Venn to further its vision, build on its success, take advantage of new opportunities and further contribute to the economic development of this region.”
- The Honourable Ginette Petitpas Taylor, Member of Parliament for Moncton-Riverview-Dieppe
“Your government understands what matters most to New Brunswickers. We know the importance of creating jobs, growing the economy, and securing and enhancing health care and education. New Brunswickers want their government to make investments to help the economy and our investment will allow Venn Innovation to enhance its services to support small businesses at the start-up and growth stages.”
- Monique LeBlanc, MLA for Moncton East on behalf of Hon. Donald Arseneault, Minister responsible for the Regional Development Corporation
“We are very happy to support Venn Innovation Inc. as they continue to forge a solid reputation across the country. Located in the heart of our downtown, they believe in our region and see the tremendous potential of our emerging companies. This announcement is a great example of collaboration from all levels of government to support the innovation sector in our region.”
- Mayor Dawn Arnold, City of Moncton
“Since the genesis of the Venn Garage, the diversity and calibre of entrepreneurs in our program has been tremendous. From VP’s, to past founders, to first time entrepreneurs, the Garage provides a distinct learning culture where participants openly share their resources and expertise.”
- Dave Gallant, Managing Director, Venn Innovation Services
“Venn Innovation is delivering focused programs and services that are helping early stage companies test and validate their ideas, and growth stage companies be better prepared to enter global markets. With the support of our partners at ACOA and the province of New Brunswick, and collaboration with stakeholders in New Brunswick and beyond, Venn is dedicated to building the capacity for innovation in our province and region.”
- Roddy Awad, Vice-President of Professional Services – TSI Auto Solutions & Chair – Venn Innovation Inc.
Paul CJ LeBlanc
Senior Communications Officer
Atlantic Canada Opportunities Agency
Director of Communications
Regional Development Corporation
Director, Corporate Communications
City of Moncton
President & CEO
Venn Innovation Inc.