MONCTON (GNB) – The provincial and federal governments invested in Venn Innovation Inc. to help the company undertake two projects that will benefit knowledge-based companies and entrepreneurs looking to further their innovations.

“Investing in Greater Moncton's next series of innovative success stories is a key part of our government's plan to create jobs and make life better in New Brunswick communities,” said Premier David Alward. “Our investment helped create an acceleration and commercialization centre with services to assist start-ups and new businesses.”

The investments were announced as part of the opening of the Venn Centre, a facility in downtown Moncton that will house both Venn Innovation Inc. and an entrepreneurship centre called the Vennture Garage.

“Our government is pleased to support innovative organizations like Venn Innovation Inc. that are working to advance and grow our technology and health science sectors,” said Rob Moore, minister of state for the Atlantic Canada Opportunities Agency. “Funding announced today helped Venn Innovation Inc. create a centre to foster greater entrepreneurship, as well as undertake a project to expand business opportunities.”

The first initiative involved a provincial pilot project that gives new knowledge-based companies access to services such as training, data research and sector expertise. The federal government, through the Atlantic Canada Opportunities Agency’s (ACOA) Business Development Program, invested $53,760 and the provincial government contributed $17,920 to the initiative.

The second investment supported the creation of an entrepreneurship centre, the Vennture Garage, which offers a relaxed, collaborative, and open work environment where new entrepreneurs have a space that supports the development of their businesses. The federal government, through ACOA, provided $105,272 and the provincial government invested $204,900.


25-06-14