VentureStart Acquires a Competitive Edge

February 27, 2014.
The Evidence Network (TEN) Brings its Impact Assessment Services to VentureStart

The Evidence Network (TEN) Brings its Impact Assessment Services to VentureStart

Mississauga, Ontario, Canada – February 27, 2014 – VentureStart, a southern Ontario-based program helping entrepreneurs in the Science, Technology, Engineering, and Math (STEM) fields turn great ideas into successful start-up businesses, is taking the strategic step to learn about their real impact on over 200 companies they serve.

VentureStart is engaging The Evidence Network (TEN) to share information on the program’s impact on company development and the economy.

Launched in 2012, VentureStart received funding of up to $7.5 million through the Federal Economic Development Agency for Southern Ontario’s (FedDev Ontario) Scientists and Engineers in Business initiative. The program offers a unique approach to business skills development and entrepreneurship training, as well as the opportunity to qualify for up to $30,000 in seed financing. VentureStart is coordinated by the RIC Centre and delivered through members of the Ontario Network of Entrepreneurs (ONE).

Steve Lightstone, The Evidence Network Vice President of Client Services and Sarah Lenarcic, VentureStart Coordinator, at the announcement

“I am pleased with the success to date of VentureStart, which is providing graduates in the region with the business skills they need to transform their technical ideas into products for the marketplace,” said the Honourable Gary Goodyear, Minister of State for FedDev Ontario. “I look forward to seeing the tangible results of this program, which is helping to build an entrepreneurial landscape in southern Ontario. ”

“The creation and growth of technology companies is important in southern Ontario,” says Sarah Lenarcic, Program Coordinator. “We need to be able to truly understand the value of the program and the return on investment. We couldn’t answer these questions without TEN. Their approach is unique.”

“Proving impact is strategic. VentureStart’s decision to engage TEN gives them a competitive edge,” says Pam Banks, Executive Director RIC Centre. “VentureStart can manage their organization better and ensure their future with TEN’s help.”

“VentureStart is leading the way for others,” says Steve Lightstone, Vice President of Customer Service at TEN. “Most programs like VentureStart know they need to assess attributed impact. Sarah and her team are doing something about it.”

About The Evidence Network

The Evidence Network provides assessments of the impacts that innovation enablers and business support programs have on companies. TEN elicits attributed impacts directly from client companies, and determines: Impact on companies’ resources and capabilities; Impact on companies’ performance; economic impact indicators, and the relationship between services, impact on companies’ performance, and impact on the economy.

About RIC Centre:

The RIC Centre is a not-for-profit organization supporting the development of innovation and entrepreneurship in Mississauga, Brampton and Caledon. It is part of a network of 13 regional innovation centres across Ontario, providing commercialization support to help new entrepreneurs and seasoned business people take technical innovations to market, with experienced advisors and Entrepreneurs in Residence who guide clients every step of the way.

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