Government of Canada Announces support for Venn Innovation Inc. and Atlantic Canada small businesses

June 27, 2017 – Moncton, NB – Atlantic Canada Opportunities Agency 

Helping innovative small and medium sized enterprises grow their business and enter into new markets is critical to enhancing Atlantic Canada’s economic success. Thanks to an investment of $772,438 from the Government of Canada, Moncton-based Venn Innovation Inc. is supporting the information technology (IT) sector in New Brunswick with activities to increase their international business development capability, as well as providing companies from across Atlantic Canada with competitive intelligence and awareness training. 

Ginette Petitpas Taylor, Parliamentary Secretary to the Minister of Finance, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), together with Gudie Hutchings, Parliamentary Secretary for Small Business and Tourism, joined Venn Innovation Inc. officials today for the announcement. 

The first investment announced today is to support the development of IT companies in New Brunswick with various initiatives, including coaching and training programs, designed to grow and increase the capacity of SME’s to enter into new international markets. The Government of Canada provided Venn Innovation Inc. with a non-repayable contribution of $441,208 through ACOA's Business Development Program (BDP). 

The second project is a competitive intelligence training and awareness program that will enable Atlantic Canadian businesses to understand their industry, markets, customers, and competitors and turn that information into actionable strategies to grow their operations. The program will run over two years and include group training classes, one-on-one coaching, and a series of workshops to hone the skills of participating companies on topics such as internal improvements, export readiness and market preparedness.  The Government of Canada, through ACOA’s BDP program, is providing a non-repayable contribution of $331,230 to this initiative. 

Both of these projects build on the Government of Canada’s commitment to drive economic growth and job creation 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 and skilled workforce.