St. John’s-based Genesis said this week that it has invested about half of the $775,000 microfund it established last year for members of its Enterprise program.
The Newfoundland and Labrador innovation hub launched the microfund in January, 2019, to provide a boost to startups entering the Enterprise program, which is for companies that are beginning to scale.
The microfund has now provided grants of $20,000 to each of 18 companies. These companies have created 84 jobs, secured $4.5 million in private investment and generated $5.1 million in revenues, said Genesis in a statement.
“The