Venn Innovation Helps Start-ups Build Success

News release

Enabling Atlantic Canadian companies to innovate creates high-value jobs and nurtures a thriving middle class, improving the quality of life of all Canadians. Innovation drives productivity, competitiveness, and regional economic growth.

Today, the Honourable Carolyn Bennett, Minister of Crown-Indigenous Relations, announced funding for Venn Innovation to help innovative entrepreneurs start and grow their businesses. The Government of Canada, through the Regional Economic Growth through Innovation program (REGI) contributed more than $475,000 to support this innovation incubator over the next two years.

Minister Bennett made the announcement on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science, and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA).

Venn Innovation helps companies start and grow by providing them with coaching, training, and access to a vast network of over 100 organizations that assist in innovation-based economic development. Thanks to this support, Venn will provide entrepreneurship and startup programming, a collaborative workspace, and a dedicated system to track the engagement of teams participating in the Venn Garage program.

This investment builds on commitments made by the Government of Canada and the four Atlantic Provinces to drive economic growth in the region through the Atlantic Growth Strategy by helping business accelerators, incubators and clusters foster high-growth companies, which, in turn, promote innovation, growth and job creation. 

Quotes

“The long-term economic success of Atlantic Canada requires a focus on innovation and diversification. I am pleased that our government is delivering on the Atlantic Growth Strategy by enabling this type of business support, ensuring that businesses in Atlantic Canada have the resources they need to grow and thrive.”

-       The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA

“Support for Venn Innovation is one way the Government of Canada is growing the innovation economy, by working to enhance the reach of business accelerators and incubators. Incubators like Venn are extremely important in the innovation ecosystem, ensuring that start-ups and small enterprises are able to access training, resources, and networks that increase their success and resiliency as they grow.”

-       The Honourable Carolyn Bennett, Minister of Crown-Indigenous Relations 

“We want to create opportunities for our province and the region. Supporting innovative small- and medium-sized enterprises as they grow their business and enter into new markets is critical to building New Brunswick’s - and Atlantic Canada's - economic capacity and success. We see so many innovative, tech-enabled companies across the region that can compete on the world stage, and it’s exciting, because these are the companies that are going to help make sure our communities thrive.”

-       Doug Robertson, CEO & President of Venn Innovation Inc.

Quick facts

  • The Government of Canada provided a non-repayable contribution of $475,685 towards this project through ACOA’s Regional Economic Growth through Innovation (REGI) program.

  • The Regional Innovation Ecosystems stream of the REGI program supports the creation and growth of inclusive regional ecosystems that support business needs and fosters an entrepreneurial environment conducive to innovation, growth and competitiveness.

  • The REGI program continues to build on the objectives of Government of Canada’s Innovation and Skills Plan

  • Venn Innovation is a private sector, non-profit innovation hub and tech association focused on helping technology companies start and grow in New Brunswick. 

Contacts

Matthew Dillon-Leitch
Director of Communications
Office of the Honourable Carolyn Bennett
Minister of Crown-Indigenous Relations
819-997-0002

Jennifer Houle
Senior Communications Officer
Atlantic Canada Opportunities Agency
506-261-5534

Mischka Jacobs
Communications Coordinator
Venn Innovation Inc.
506- 857-8324


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