ALBERTA
Feds, province announce $37 million for startups and clean tech businessesClean energy and Calgary tech startups are getting a $37-million boost from federal and provincial governments
Author of the article: Josh Aldrich
Publishing date: Mar 17, 2022 •
Minister Responsible for Prairies Economic Development Dan Vandal (middle) is flanked by MP George Chahal (Calgary-Skyview) (left), Platform Calgary president and CEO Terry Rock (right) and Calgary Economic Development president and CEO Brad Parry (back), as he announces $22 million for tech startups and another $2 million for Platform Calgary to help complete their interior development Thursday, March 17, 2022 in Calgary.
PHOTO BY JOSH ALDRICH /Postmedia
On Thursday, Prairies Economic Development Minister Dan Vandal announced $22 million for 13 local startup businesses to further their development and expansion, and an additional $2 million for Platform Calgary to help complete the development of the interior of its $27-million downtown facility. The funding is expected to create more than 1,000 jobs in southern Alberta.
“The level of innovation and energy and creativity that is here is impressive,” said Vandal. “My role as minister of PrairiesCan is to work with industry, to work with governments to create jobs, to diversify the economy. We know that Alberta and Saskatchewan and Manitoba are energy provinces, and they always will be — we need to work on cleaner, sustainable energy solutions while engaging with the industry and the workers themselves, and the governments.”
The projects include $5 million to Genoptic LED Inc. to establish a manufacturing operation to mass produce advanced hybrid solar panel and battery storage technology; $879,063 for Exergy Solutions Inc. to expand its industrial-scale additive development and 3D printing capacity to support energy and decarbonization technology development; and $415,000 for Canadian UAVs Inc. to expand its market by introducing unmanned aerial vehicle technology and related services to Canada’s energy sector
It’s just a small sampling of what Brad Parry, president and CEO of Calgary Economic Development, says local entrepreneurs have in the pipeline. There are currently about 500 startups in varying stages of development and operation, halfway to the CED’s goal of 1,000.
On Thursday, Prairies Economic Development Minister Dan Vandal announced $22 million for 13 local startup businesses to further their development and expansion, and an additional $2 million for Platform Calgary to help complete the development of the interior of its $27-million downtown facility. The funding is expected to create more than 1,000 jobs in southern Alberta.
“The level of innovation and energy and creativity that is here is impressive,” said Vandal. “My role as minister of PrairiesCan is to work with industry, to work with governments to create jobs, to diversify the economy. We know that Alberta and Saskatchewan and Manitoba are energy provinces, and they always will be — we need to work on cleaner, sustainable energy solutions while engaging with the industry and the workers themselves, and the governments.”
The projects include $5 million to Genoptic LED Inc. to establish a manufacturing operation to mass produce advanced hybrid solar panel and battery storage technology; $879,063 for Exergy Solutions Inc. to expand its industrial-scale additive development and 3D printing capacity to support energy and decarbonization technology development; and $415,000 for Canadian UAVs Inc. to expand its market by introducing unmanned aerial vehicle technology and related services to Canada’s energy sector
It’s just a small sampling of what Brad Parry, president and CEO of Calgary Economic Development, says local entrepreneurs have in the pipeline. There are currently about 500 startups in varying stages of development and operation, halfway to the CED’s goal of 1,000.
“What’s really important is that 13 companies didn’t have to leave Calgary to get the funding,” he said. “We need to make sure companies know they can stay here, grow here, build here and scale.”
Many of these startups, and future ventures, will make use of Platform Calgary, a 50,000-square-foot facility slated to open in June. Platform Calgary will act as a launching pad or incubator for startups, connecting entrepreneurs with resources and networking to properly get off the ground. There will be space for 70 partners at any given time, and includes a pitch stage where Thursday’s announcement took place.
The $2 million from Ottawa will help complete the development of the facility’s interior space — an $8-million project — which includes everything from furniture and finishes to proper mechanical and wiring to meet the needs of the users.
“The most important thing is the stories that are going to be here,” said Terry Rock, president and CEO of Platform Calgary. “Something that’s kind of fragmented and diffused right now, it really concentrates it. The level of activity is going to surprise people, there’s a lot of innovation that is happening in our city right now.”
Platform Calgary president and CEO Terry Rock said the federal announcement of $22 million for tech startups and another $2 million for Platform Calgary to help complete their interior development is an important investment in the local business community Thursday, March 17, 2022 in Calgary.
PHOTO BY JOSH ALDRICH /Postmedia
Also on Thursday, in a separate announcement, Jobs, Economy and Innovation Minister Doug Schweitzer announced $13 million from provincial coffers to support 22 projects through Alberta Innovates. Thirteen projects are receiving $3.4 million through the Digital Innovation in Clean Energy (DICE) program and the remaining $9.6 million will go to nine projects through the Clean Resources business unit.
“We look at all the different opportunities that are emerging right now in the energy space, there’s a collision between the digital world and artificial intelligence, machine learning and augmented intelligence, and the collision between that and the energy industry is immense. There’s a huge amount of opportunities in this space and we’re seeing Alberta companies lead the way.”
The projects cover everything from pushing to net zero to lowering utility costs and for further uses for bitumen.
The funding is expected to help create more than 1,900 jobs in five years.
The provincial funding is being combined with private and federal government dollars for a total of at least $47 million of investment.
jaldrich@postmedia.com
Twitter: @JoshAldrich03
Also on Thursday, in a separate announcement, Jobs, Economy and Innovation Minister Doug Schweitzer announced $13 million from provincial coffers to support 22 projects through Alberta Innovates. Thirteen projects are receiving $3.4 million through the Digital Innovation in Clean Energy (DICE) program and the remaining $9.6 million will go to nine projects through the Clean Resources business unit.
“We look at all the different opportunities that are emerging right now in the energy space, there’s a collision between the digital world and artificial intelligence, machine learning and augmented intelligence, and the collision between that and the energy industry is immense. There’s a huge amount of opportunities in this space and we’re seeing Alberta companies lead the way.”
The projects cover everything from pushing to net zero to lowering utility costs and for further uses for bitumen.
The funding is expected to help create more than 1,900 jobs in five years.
The provincial funding is being combined with private and federal government dollars for a total of at least $47 million of investment.
jaldrich@postmedia.com
Twitter: @JoshAldrich03
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