News Release

REF NO.: 114


DATE: February 16, 2007

Today the Genesis Centre at MemorialUniversity marked the 10 anniversary of its official opening on Feb. 17, 1997. The Centre is a support network for technology-based businesses in the Province who are seeking business guidance and capital.
            Guests gathered in Spencer Hall on the University’s St. John’s campus to hear comments from clients, board members, government and University representatives. Genesis Centre manager Keelin O’Leary announced a series of special events and projects marking the anniversary year. These events will include:
  • Hosting the 16th annual conference of the Canadian Association of Business Incubation. The conference will be held in Newfoundland and Labrador for the first time, on Sept. 23 to 25.
  • An issue of The Ambassador dedicated to the Genesis Centre.  The Ambassador is the newsletter of the program of the same name, operated by the provincial Department of Innovation, Trade and Rural Development, and has a circulation of 25,000 across 15 countries.
  • A gala evening event for which a special dinner theatre has been commissioned.
  • The production of a poster series on heroes of Newfoundland and Labrador, who can provide inspiration to the entrepreneurs working in the Genesis Centre.                                                                           
            Ms. O’Leary said, “The Genesis Centre has become a vibrant community, and that life is due to the excellent clients, talented volunteers and dedicated staff who have been a part of it. It is even clearer to us now than it was in 1997, that business success is all about the people. Our tenth anniversary year will be a wonderful opportunity to spotlight and celebrate that fact.

            Arthur Schopenhauer said, “Everyone takes the limits of his own vision for the limits of the world. And that’s the beauty of us all working together...our shared vision expands the horizons of each of us.”

Background Information
            The Genesis Centre is a support network for technology-based ventures which have high-growth potential, and are seeking business guidance and capital.
            Instead of a company learning through its own mistakes, Genesis offers a wealth of resources which increase the company’s likelihood, rate and degree of success.
Vital Statistics
  • 35 companies have been accepted into the Centre since 1997; 17 have graduated; 10 are current clients (8 withdrew)                                                 
  • The total private investment secured by Genesis Centre clients is now $8.6 million, 60% of which has come from outside the province.
  • Employment of the current clients and graduates of the Genesis Centre is now almost 300 people, plus about 300 who work for parts of Rutter Inc. other than Rutter Technologies.
  • Almost 100 business persons from the local community and outside the province have volunteered to serve on Genesis Centre boards and as mentors.
  • Last June the Centre was presented with the SHRC Information Technology Strategic Leadership Award by CATA Alliance, Canada's leading, most influential and entrepreneurial technology alliance.
  • Fall 2003, the Genesis Centre was given the Award for Excellence in Fostering Entrepreneurship from the Department of Industry, Trade and Rural Development.
  • Genesis Centre clients have won multiple local, national and international awards.
  • The Genesis Centre is one of several ways in which the University fulfills its mandate to foster economic development in the Province.

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