Mississauga, Ontario, Canada – February 28, 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, today announced the results of an impact assessment conducted by The Evidence Network (TEN).
Since first engagement with VentureStart, companies have seen annual revenues grow by $11.7 million and investment increase by $17.4 million.The impact assessment also found 99% of companies that increased their annual revenues by 10% or more attribute their results to the positive impact of VentureStart.Innovation has also grown as a result of engagement with VentureStart, as 90% of companies that developed new or improved technologies signalled the positive impact of VentureStart on their ability to innovate.
“The Government of Canada recognizes that innovative ideas such as those being developed through the VentureStart program hold the key to long-term economic stability for the people, communities and businesses in southern Ontario,” said Stella Ambler, Member of Parliament for Mississauga South. “Through VentureStart, we see the tangible results of investing in graduates and helping them to develop the skills necessary to become innovators and successful entrepreneurs.”
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The VentureStart program aims to provide entrepreneurs and small-business owners with the tools and resources to take their processes and products to market. Working with companies in the fields of Science, Technology, Engineering, and Math, VentureStart (www.venturestart.ca) provides the knowledge, skills, and support necessary to build a solid business foundation.