TEC Edmonton, Innovate Calgary receive federal funding to promote entrepreneurship

November 25, 2014

Canada has announced that the University of Alberta, through its affiliation with TEC Edmonton and its collaboration with Innovate Calgary, will receive $6 M over 5 years to help grow local businesses. The funding is being delivered through the Canada Accelerator and Incubator Program (CAIP). Announced in June, CAIP is intended to support entrepreneurs with access to the resources and expertise needed to develop business plans, obtain follow-on financing, and reach international markets. With the funding, TEC Edmonton will develop a Health Accelerator Program to help commercialize new research developments; Innovate Calgary, meanwhile, will develop an Energy Accelerator Program. “This funding will link emerging businesses, investors, technology users, and major research institutes, to create a step change in commercialization outcomes in the country,” said Chris Lumb, CEO of TEC Edmonton. National Research Council News Release