Leaves are falling from the trees, the children are back in school, and the Genesis Centre is off to an excellent start this fall. Things kicked off on the first of September, with the Provincial and Federal government announcement of a 1.6 million dollar combined investment in the Genesis Centre over the next three years.
Representatives from both the Provincial and Federal governments attended the funding announcement held in the Genesis Centre’s boardroom in St. John’s. Representing the Province was Premier Dwight Ball. Mr. Ball, admiring the Centre’s impact on local start-ups over the past 20 years, stated, “[the] Genesis Centre has evolved into a significant asset for our entrepreneurial companies.” Ball reminisced about his experience as an employee of a pharmacy, and his longing one day be the one who writes the cheques. This spirit of independence and supporting others is shared among all the entrepreneurs of the Genesis Centre that are striving to expand and grow their businesses.
Nick Whelan, Member of Parliament representing the Federal Government on behalf of Minister Navdeep Bains, was also in attendance at the announcement. Mr. Whelan, who is familiar with Genesis from his experience mentoring clients on legal matters, was also excited about the investment, stating “The Genesis Centre has provided some of Newfoundland and Labrador’s brightest minds with the tools, opportunities, resources, knowledge and guidance needed to turn their ideas into successful, prosperous business ventures.”
The event was filled with optimism and confidence in the continued prosperity for the entrepreneurial ecosystem of Newfoundland and Labrador, and in particular the portfolio companies of the Genesis Centre. The funding will provide the Genesis Centre with opportunities for expansion of the Evolution Program across Newfoundland and Labrador and strengthening of the Enterprise Program. The Evolution Program focuses on validating business ideas of early stage entrepreneurs. The Enterprise Program supports the success of technology start-ups in commercializing their ideas for high-growth potential.