Three Startups Accepted Into Venn Innovation’s Incubator
MONCTON – Venn Innovation, a tech and innovation hub based in Moncton, has selected three New Brunswick startups to be part of its incubation program Venn Garage.
LifeTrack Safety Systems is developing smart lifejackets, Welkom-U is creating a one-stop-shop software to help new and prospective immigrants integrate, and Parados Cerebral Solutions is developing an AI-backed mouth guard that will help athletes recognize sustained head injuries that could lead to concussion.
“We are always excited to hear new ideas that are going to have a significant and positive impact on New Brunswick and beyond. Our incubator is well positioned to support entrepreneurs and startups across the province, so they can leverage international and province-wide resources, institutions, partnerships and mentors,” said Alicia Grayeb, program manager of Venn’s Startup Services, in a release.
“The Garage is an important piece in activating the New Brunswick economy, particularly following the changes we’re seeing from the pandemic.”
Venn held its first Open Pitch Competition for prospective participants on July 30 as a result of increasing demand for the Garage.
The program matches entrepreneurs with resources to help them test and validate their idea, get early adopter customers and initial funding, and prepare their team for entry into accelerators.
It can be delivered virtually, so for pitch day, tech entrepreneurs from across New Brunswick applied and 13 were selected to present to a panel of judges.
The three startups that were successful will have access to over $50,000 worth of in-kind investment, including access to securely Canadian-hosted tools and resources, international mentorship, world class training, networking opportunities, and connectivity to markets at home and abroad.
Some of the teams that didn’t make it into the Garage will be able to take part in Venn’s bootcamp, a new two-day program with demos and resources that will allow them to get a glimpse of entrepreneurship, understand whether they have what it takes and if they’re ready to make the jump to run a business.
The next Open Pitch Competition will be held on August 27, with deadlines to apply set for August 25.