News Release

MONCTON (GNB) – Venn Innovation will enhance and expand its services supporting small businesses at the start-up and growth stages, thanks in part to investments from the provincial and federal governments.

“Your government understands what matters most to New Brunswickers,” said Moncton East MLA Monique LeBlanc. “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 this investment will allow Venn Innovation to enhance its services to support small businesses at the start-up and growth stages.”

LeBlanc commented for Post-Secondary Education, Training and Labour Minister Donald Arseneault, who is the minister responsible for the Regional Development Corporation.

“Venn Innovation has built a solid reputation as one of Canada's innovation hub organizations, offering an array of entrepreneurial support activities, and customized programs and services for firms at different stages,” said Moncton-Riverview-Dieppe MP Ginette Petitpas Taylor. “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.”

Petitpas Taylor commented for federal Innovation, Science and Economic Development Minister Navdeep Bains, who is also the minister responsible for the Atlantic Canada Opportunities Agency (ACOA).

The funding will expand the Vennture Garage program’s mentoring, advice and support to participating individuals and teams. Small and medium-sized enterprises, as well as individual technology entrepreneurs, will have access to workshops, seminars and one-on-one consultations. Programming is also being introduced to facilitate matchmaking for New Brunswick companies and entrepreneurs using Venn's existing partnerships.

The provincial government is investing $363,200 and the federal government is providing a non-repayable contribution of $398,600 through ACOA's Business Development Program. Venn Innovation is investing $167,500 in the project, and the City of Moncton is also providing support.

“We are very happy to support Venn Innovation as they continue to forge a solid reputation across the country,” said Moncton Mayor Dawn Arnold. “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.”