Moncton, August 10, 2016 – Venn Innovation is pleased to announce that market intelligence services will be available to qualifying technology companies across Atlantic Canada through organizations that are part of the Canadian Digital Media Network (CDMN). Volta Labs and InnovaCorp, based in Nova Scotia, Genesis Centre, based in Newfoundland and Labrador, and Venn Innovation, based in New Brunswick, are collaborating to deliver market intelligence to their clients. In addition, PEI companies will be able to access the service through referral to Venn by Innovation PEI. This service will be provided by leveraging the talents and knowledge of sector-specific analysts based at MaRS in Toronto.
“For the past two years, Venn has been providing market intelligence to New Brunswick-based companies through a partnership with MaRS,” said Doug Robertson, CEO of Venn Innovation. “The opportunity to extend the access to market intelligence across Atlantic Canada was facilitated through our participation in the Canadian Digital Media Network and the relationships that we have forged with the other participating organizations in the network.”
“The CDMN hubs outside of Ontario expressed an interest in being able to leverage the network to access the MaRS Market Intelligence services being offered through the support of Ministry of Research and Innovation in the province of Ontario,” said Lisa Cashmore, Director, Network Operations, Canadian Digital Media Network (CDMN). “We felt the economic impact of extending this program to help companies from across the country would be extremely valuable. We are proud to have played a role in bringing this service to our Atlantic hubs.”
“Market, customer and industry intelligence are some of the most important data sets that a start-up needs as they begin to develop their business idea. In Ontario, through the MaRS Market Intelligence services, we have been filling this critical gap since 2008 thanks to our funder Ministry of Research and Innovation. We are thrilled to partner with CDMN and the Atlantic provinces to extend our services beyond our borders to support other startups,” said Usha Srinivasan, VP Learning and Insights at MaRS Discovery District.
The project is made possible thanks in part to a non-repayable contribution of $170,000 from the Atlantic Canada Opportunities Agency’s Business Development Program.
“Atlantic Canada is home to many promising startups and the Government of Canada is committed to helping new businesses get the tools they need to compete in the global marketplace. Strategic investments like this one contribute to long-term growth, support the creation of well-paying jobs for the middle class to grow and prosper and position the region as a thriving, knowledge-driven economy,” said the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA).
Market intelligence can provide companies with vital information about their industries including, competitors, market size, pricing, potential investors and partners, intellectual property and best business practices. For the region’s startup companies, this data can assist in managing business risk, allowing them to better attract investors and giving them the opportunity to build a successful business.
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Established in 2010, Venn was founded by a group of tech economy entrepreneurs and stakeholders to support innovation-based economic development. Venn helps New Brunswick tech companies get to market, sustain and grow their business, and scale their operations. Venn is committed to creating a dynamic, globally successful technology industry in New Brunswick that is driven by strategic partnerships, meaningful collaborations, and enhanced cooperation between the business community, the academic and research community, and the government sector.