The Alberta government is betting on technology.
As part of the Albertus Reconstruction Program, the state has joined eight Regional Innovation Networks (RINs) to foster and support high-potential start-ups and entrepreneurs, support economic diversification, and create jobs. It has announced that it will invest $ 18.7 million over three years.
Alberta has the most ambitious and hard-working entrepreneurs everywhere. We want to leverage world-renowned business and technology experts to ensure that we can accelerate business growth, diversify our economies and connect to regional innovation networks that can create jobs.
RIN was launched as part of the 2008 State Action Plan to bring technology to market. Their purpose is to connect and support more than 1,600 tech entrepreneurs in the state each year. Initially, there were three such networks. Currently, there are eight. These community-based organizations support 7,000 innovators, entrepreneurs and businesses, and have created 354 new innovations to date.
Each RIN helps small and emerging technology companies bring their products and solutions to market. They do this by creating a network of programs and services to accelerate the growth of technology-based and knowledge-based businesses. They provide small businesses with coaching, business advice, technical expertise, connections, and access to capital.
Through the Regional Innovation Network, Alberta Innovates has brought together the power of a strong network of regional support across the state to create opportunities for small businesses, entrepreneurs and innovators to succeed, said Laura Kilcrease, CEO of Alberta Innovates. ..
$ 18.7 million will be distributed as follows: Calgary Innovation Coalition ($ 6,946,000), Central Alberta Regional Innovation Network ($ 1,638,000), Edmonton Regional Innovation Network ($ 4,888,500), East Central Alberta Regional Innovation Network ($ 787,500), Wood Buffalo Regional Innovation Network ($ 735,000)), Grande Prairie Regional Innovation Network ($ 778,500), APEX: Southeast Alberta Regional Innovation Network ($ 1,785,000), and South Alberta Regional Innovation Network ($ 1,171,700).
Each community has a governance committee that decides how to use the program’s funding to best achieve the desired results. Members of the Governance Commission include local members of higher education institutions, community futures, local economic development agencies, tourism and entrepreneurs.
The state-wide regional innovation network is like the central nervous system of Alberta’s startup ecosystem. Organizations participating in RIN are dedicated to building a diverse economic landscape in Alberta by breaking down the barriers of Alberta entrepreneurs. This is especially important for people outside the city center. RIN is there to listen to the opinions of entrepreneurs and meet their needs. Madeline Kendrew, Academy Director of Platform Calgary, has a true sense of collaboration to build new relationships, cross-deliver programs, and share learning and best practices to enhance each RIN on behalf of innovators.
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