Supporting a diversified economy in Alberta
Day-in-and-day-out we see the impact our members and alumni companies have on our city's economy. They are hiring, renting larger office spaces as their teams grow, and bringing investment to the region. It's our pleasure to be of service to these founders, teams, and entrepreneurs each step of the way with programming, mentorship, flexible workspace, and access to a supportive community.
Yesterday, we hosted the Government of Alberta for an exciting announcement regarding the Alberta Entrepreneurship Incubator Program. Edmonton region business incubators TEC Edmonton, NAIT, Northern Alberta Business Incubator, and Startup Edmonton will receive $1.5 million funding over two years from the provincial government to provide increased services to entrepreneurs and startups looking to enter and navigate the innovation system. Funding will support entrepreneurs, recent graduates and innovators by providing mentorship, business advice and open access to testing space, and world class prototyping and light manufacturing equipment.
For diversification in our economy to take hold, we need to see many more entrepreneurs equipped to create and grow companies. This investment from the provincial government will allow Startup Edmonton to offer our programs more frequently and in more locations, to reach anyone with an innovative idea at the time they need support the most.
We look forward to seeing our partners expand their reach to impact entrepreneurs and companies at all stages of their growth.
New support for Edmonton entrepreneurs | July 17, 2017
“Entrepreneurs see opportunity where others might only see challenges. They put a lot on the line to start their own business and bring their new products and new ideas to market. We know small businesses with incubator support have an average 25% growth rate, while nationally the average growth rate is less than five per cent. We are supporting Startup Edmonton to grow and diversify our economy, and to make life better for Albertans.”
- Deron Bilous, Minister of Economic Development and Trade
"Alberta Innovates is proud to deliver the Alberta Entrepreneur Incubator initiative throughout the province. This initiative demonstrates an intentional drive toward an entrepreneurial culture in the province, creates new firms which generate new jobs, and develops new technologies and support mechanisms for the diversification and growth of our economy.”
- Laura J. Kilcrease, CEO, Alberta Innovates
“Supporting business incubators is an important part of our government’s commitment to ensuring communities and regions across the province thrive. They provide the resources to produce successful companies that create more jobs in the province, retain businesses in communities, accelerate growth in regional industries, and diversify local economies.”
- Rachel Notley, Premier of Alberta