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Alberta Government Accelerates Development of Tech Startups

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The consortium, which also includes Jobs, Economy and Innovation, Innovate Edmonton, Opportunity Calgary Investment Fund, and Prairies Economic Development Canada (PrairiesCan), has allocated $ 35 million over three years to maintain business accelerators. It is part of the government’s overall goal of helping technology companies generate $ 5 billion in revenue by 2030, creating 20,000 jobs.

Having four world-class accelerators in Alberta is a good sign for up-and-coming entrepreneurs who can take their business to the next level. Access to these business accelerators will help our technology sector grow rapidly, adds Martin Long, SME and Tourism Parliamentary Secretary.

These accelerators bring together new sources of knowledge, capital and market connections to accelerate the growth of large-scale entrepreneurial businesses, regardless of corporate sector or stage, said Laura, CEO of Alberta Innovates.・ Kill Crease states.

Quick facts500 Global is a venture capital firm that invests in the founders of building fast-growing technology companies. 500 Global has helped more than 6,000 founders representing more than 2,500 companies operating in 77 countries. The portfolio has delivered tremendous performance, including 33 companies worth more than $ 1 billion and 120 companies worth more than $ 100 million. With over 140 team members in more than 15 countries, 500 Global has experience as an entrepreneur, investor and operator in the world’s leading technology companies. Alberta Pre-Accelerator is a collaboration between Platform Calgary and Innovate Edmonton, supported by the Alberta Innovation Network organization. This state-wide initiative provides business support and advice to qualified founders, entrepreneurs, and start-ups in the early stages of corporate development. Special attention is paid to the recruitment of coaches and mentors that reflect the diversity of Albertus’ population. Alberta Pre-Accelerator’s governance includes member organizations that defend a poorly serviced technology founder community. Community Safety and Wellness Accelerator with Alchemist is the first global accelerator to grow ventures in the area of ​​community safety and wellness with artificial intelligence and machine learning. Plug and Play Alberta brings together groundbreaking ideas from different industries and countries into one platform to solve the world’s largest energy and natural resource challenges.

Deron Bilous, a critic of NDP’s economic development and innovation, made the following statement regarding this announcement:

It’s nice to see these accelerators coming to Alberta, but today’s re-announcement reminds us of two areas where these startups need to grow: talent and capital reductions in UCP. was.

Since establishing the government, UCP has reduced programs to attract investment in startups. They abolished the Alberta Investor Tax Credit and Interactive Digital Media Tax Credit and endorsed corporate tax credits for large corporations that had nothing to support these start-ups. Companies are now warning that they are losing employment and investment in other states due to their lack of competitiveness.

UCP has also reduced post-higher education funding by more than $ 700 million, making it difficult for these companies to find the skilled workers they need to grow.

While these re-announcements are positive news, UCP needs to help these companies reverse cuts, diversify their economies and create jobs.

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