What’s in Moncton’s Vennture Garage?
MONCTON– When starting a business, the toughest part is starting-up.
This is something Moncton’s Vennture Garage aims to make a little less petrifying.
The Vennture Garage is a non-cohort based program designed to help aspiring New Brunswick entrepreneurs to validate their idea, acquire early adopter customers and initial funding, and prepare them for successful entry into leading accelerators.
The program got its start two years ago by the Venn Centre. It was inspired by a similar program in Waterloo, Ont. called the Velocity Garage.
“The format, the style and the openness was a lot of the inspiration that came from that,” says Dave Gallant, managing director for innovation services for Venture Garage.
Gallant essentially designed the Vennture Garage program from the ground up. He noticed that while there were already programs for entrepreneurs looking to take their company to the next stage, there were few options for those just wanting to test an idea.
“For those that are in very early stage with an idea on a napkin and need to move to a concept and need to validate to see if it’s even worthwhile to pursue, that’s why we designed the Garage,” Gallant says. “Those people who wanted to get their feet wet in becoming an entrepreneur but really didn’t know what to do as a first step. We identified that, and that’s actually how we came about.”
Since they are not cohort based, Vennture Garage is able to take entrepreneurs through several different stages. Acceptance of members is ongoing. The program focuses in four core areas: mentorship, collaboration, validation and execution. It offers entrepreneurs expert workshops, bi-weekly coaching, mentorship, access to Venn’s international network as well their co working space.
“It’s very much real-time. What they need, when they need it,” Gallant says.
“In a nutshell, we help them validate their idea. We show them the framework to use and how to move from idea to concept, from concept to early adoptive customers before they ever have to build a product.”
Vennture Garage has also expanded in Saint John. Gallant says although the program is essentially the same, the model is flexible.
“Each region has it’s own different dynamics, different types of entrepreneurs,” Gallant says. “So with the Vennture Garage, the mindset behind it is to be adaptable to those regions and not something that is cookie cutter all the way through.”
Right now the Garage in Moncton is at full capacity with 20-21 teams with two to six members each and Saint John currently has 15 teams. This is impressive, but Gallant says he is not surprised by the program’s success.
“I’m a big believer that what you put in is what you get out. I worked blood sweat and tears to get it to where it’s at,” he says,
“I take a lot of pride in this, and the biggest thing is my success come from their success. If they feel successful, I feel successful through this, because that’s the whole goal. “
Even if a member’s idea doesn’t pan out, Gallant says the program still offers something valuable.
“It’s not just about building new companies, it’s about helping them get new skills, developing new talent so we actually have people to do other startups, work for companies or help grow companies. Just have really positive experiences,” he says.
Vennture Garage’s role in New Brunswick’s startup “ecosystem” is to guide the next generation of entrepreneurs through their earliest stages, to other community partner programs (such as Propel ICT) when they’re ready.
“[Vennture Garage] exposes them to what it is like,” Gallant says. “We have a lot of those folks who have ideas, but have no idea how to implement the idea. No idea what it takes, but they’re coachable, they have a decent network of people and they can actually execute if you give them some guidance.”
But if it doesn’t work? That’s ok too.
“It’s ok to fail and it’s ok to succeed. But you have a place where you can do that. It’s almost like a safe haven to do that.”