The Newfoundland and Labrador Economy: What’s on Genesis’ Horizon?

As we look towards a new provincial budget for the 2018 fiscal year, many questions have arisen surrounding the future of the economy and job sectors. We here at the Genesis Centre can see the bright future ahead stemming from the technology sector!

The Way Forward on Technology

At the Technology Industry Summit, the Newfoundland and Labrador provincial government put out a new work plan — The Way Forward on Technology — that highlights what all of the involved partners plan to do to reach the mutual goal of growing the tech sector. The Genesis Centre, as one of these partners, will be placing a strong importance on both our development and the growth of our clients. With the addition of several all-star staff members, we are now better equipped to help our clients succeed. By 2022, The Way Forward has three goals outlined for completion which include: increasing activity in the tech sector, focusing support intensively on 20 companies per year (40 total), as well as creating private sector jobs that intend to stimulate the tech sector in NL. To reach these goals, a targeted plan was proposed as a means to measure the province’s progress. As a strong proponent in the tech sector, the Genesis Centre is involved in these plans as are outlined below. Genesis is growing exponentially, and each team member has an integral role to play!

Technology Industry Summit ( Gerri Lynn Mackey  — VOCM News).

Technology Industry Summit (Gerri Lynn Mackey — VOCM News).

· By the end of this summer, Genesis will help implement methodology that aims to better track how the tech sector is growing and developing. By tracking the metrics of our start-ups, there can be an objective way to see a company’s growth. To better facilitate this, our Administrative Assistant Rebecca Greene takes a strong role in supporting the employees and clients of Genesis. Through her meticulous work, Rebecca allows the day-to-day operations to run smoothly and efficiently here at the centre.

· As Angelo Casanas took on a new role of Director, Programs & Partnerships his role evolved to oversee the centre’s overall programs. He takes the lead role in the design and development of these programs while also fostering the close relationships we hold with our partners. This helps us achieve Genesis’ commitment to hosting events that bring together employers, mentors, partners and start-ups to create a network here in Newfoundland and Labrador that helps the tech sector stay connected and thrive; echoing the Way Forward’s goal of integrating existing players in the innovation ecosystem.

Local tech start-ups can participate in both accelerator and incubation programs at the  Genesis Centre .

Local tech start-ups can participate in both accelerator and incubation programs at the Genesis Centre.

· Within the next two years, Genesis aims to build awareness and community knowledge regarding the tech sector here in NL as well as where the successes and opportunities lie. Megan Dobbin, our Community Engagement Coordinator is a key player in the local ecosystem through her ability to capture the stories of both the Genesis Centre and the start-ups that we work with. Through her marketing and communications role here at Genesis, the development of communications material allows her to both showcase what we do here and improve engagement with the various stakeholders in our community.

· As The Way Forward’s tech sector plan is rolled out, the Genesis Centre will be taking the lead in a couple of key areas. One of these involves being a support to both new and existing tech businesses in their acquisition of fundamental business skills. Andrew Simmons, our newly appointed Account Manager will be working closely with the start-ups at Genesis to provide them with the necessary resources and support to help them excel. This will allow more tech companies to thrive in NL and achieve success in their fields.

The Future of the NL Economy

Memorial University’s Harris Centre recently ran a discussion about “The Future of the NL Economy” that focused on the how the economy will look in twenty years. The tech sector was a focal point in this and it highlighted the plans to double both the number of companies and worth which are currently both 160 and $1.6 billion respectively. As we look to the future for further growth in the tech sector, Dyanna McCarthy our Program Coordinator, Women in Tech and Start-Up Visa, will help us bring in a greater base of entrepreneurs through the focus on promoting females that are involved in tech as well as bringing in international people to bolster the technology sector. She will be taking on both a research and programming role that will bring new insights into the barriers and challenges these groups may face when trying to succeed in the tech sector.

The Harris Centre discussion highlighted how the technology sector is making a growing impact on the province’s economy ( SubC Imaging ).

The Harris Centre discussion highlighted how the technology sector is making a growing impact on the province’s economy (SubC Imaging).

To complement this, Liam Flanagan, as our Start-Up Development Coordinator works with early stage start-ups to bring their ideas from the ideation to the validation stage. With a huge focus of honing in the ideas and skills of Newfoundland and Labrador’s entrepreneurs, Liam takes a front-line role in finding and cultivating new talent in the province. As he works with these companies and helps them grow their ideas, the resources that can be found within the province can be fully utilized to help these businesses succeed.

To further support both the team and our clients, our support staff has grown to include Jenny Mallard, our Venture Support Intern and Hillary King, our Marketing Intern who both work daily on a variety of projects and events. We have also introduced Keith Gambura and Sahil Salma, our two ISWEP students who are working part-time on special projects for the centre.

As Genesis Centre grows both our team and our client base, we are so excited to see what our province’s future holds!

By: Hillary King | Marketing Intern