Virtual Incubation Manitoba

In closing this chapter of VIM, Smart Partners of Manitoba brings an end to one of the most successful incubation programs in Canada.  VIM by any measure was a success.  Since 2002 more than 80 businesses made application to VIM, more than 100 employment positions were created and Manitoba retained numerous talented individuals.

Although this current Phase of VIM has ended, Smart Partners of Manitoba are seeking ways in which to expand VIM’s programming to continue to even better serve the entrepreneurs of Manitoba.  Smart Partners of Manitoba sincerely thanks Western Economic Diversification for supporting the VIM Program over the past several years.

 

VIM Results in Brief

• Provided consulting to more than 80 business start-ups to innovate or expand utilizing technology
• Provided information and consulting in community connectivity, municipal fibre and wireless networks
• Provided start-up consulting services to the rural Manitoba e-waste recycling program Responsible Electronics Recycling
• Demonstrated the benefits of developing a strong IT business community
• Demonstrated the benefits of connectivity and its important relationship to community and economic development
• Continues to provide administration services to the Association of Manitoba Incubators (AMI)
• Demonstrated the benefits of expanding a traditional business utilizing technology
• Aided in the creation of three Computer Lending Libraries in Manitoba (Selkirk, Point Douglas, Downtown Winnipeg) which has distributed more than 1,000 computers to individuals who could not otherwise afford technology
• Provided Change Management to organizations who are at risk of eliminating jobs
• Continues to provide further counselling to graduates of VIM when and as needed
• Provided mediation in partnerships where a reorganization is eminent
• Provided assistance to several non-profit organizations facing new situations
• Assisted new technology based non-profits to organize

 

VIM Facts

Facts: The growth of the information technology industry is being driven by the energy and creativity of individuals between the ages of fifteen and forty-five. Over 90% of the businesses in the industry have four or less employees. The character of the industry is entrepreneurial. Even very large, old line, bureaucratic telecommunications companies have had to either carve out an intrapreneurial division, spin out whole new companies, or acquire other companies to gain access to the entrepreneurial talent and the new technologies to compete in the Information Economy.

The encouragement of an entrepreneurial atmosphere and attitude is a necessary component of any economic development strategy in growing an information industry cluster. Developing incubator space is a significant economic development initiative.

Business incubation activities improve the survival rate of incubated companies and encourage retention according to studies conducted in Canada, the United Kingdom and the United States. Studies have shown that 87% of businesses incubated remain and grow in the municipality in which they were incubated. Virtual Incubation Manitoba believes providing virtual incubation to Manitoba start-up IT companies will add sustainable growth to the IT industry sector.

 

For more information and a list of businesses which may be suitable for the Virtual Incubator Program, see "Types of Ventures."