Regional Alliance
What started out as a planning exercise in 2007 to see how the region’s business service providers could collaborate to support entrepreneurs, evolved into a regional alliance strategy as TEC Edmonton, the Northern Alberta Business Incubator (NABI) and novaNAIT identified areas where early-stage entrepreneurs needed coordinated assistance.
This sparked the Regional Alliance’s discussion with other incubators namely Edmonton Research Park and the National Institute for Nanotechnology (NINT) to work together on developing a consensus on how to coordinate business incubation services. As the focus of the Regional Alliance expands to assist entreprenerus, The Business Link has joined the alliance.
Supporting the backbone of TEC Edmonton’s company development operations, AAET contributes to the following services: TEC JumpStart, TEC Source, TEC VenturePrize, and also invested $15 million in developing Enterprise Square, including the TEC Centre. “The opening of TEC Centre is one more reason why Alberta is becoming a choice destination for the launch of new advanced technology companies,” said Doug Horner, Minister of Alberta Advanced Education and Technology. “Helping companies turn ideas into products and services that are sought after in markets around the world will help to build our knowledge-based economy—a key priority for our government. Technopreneurs have unique needs, and this Centre will give them support in areas such as patents, intellectual property management, and recruitment of technical and professional staff.”
AHFMR’s long-standing partnership with TEC Edmonton supports the training and development of knowledge-based workers and the commercialization of innovative research. The AHFMR Block Grant Award and the Executives-in-Residence and Internship programs have provided TEC Edmonton with the necessary resources to assist in the translation of research findings into successful products and services to improve the health of Albertans.
Ingenuity Enterprise is a three-way partnership between AIF, TEC Edmonton and Calgary’s University Technologies International (UTI) to encourage entrepreneurs and inventors across Alberta to grow advanced technology businesses. In helping to transform innovations into business ventures, the Ingenuity Enterprise partnership supports TEC Edmonton via the Alberta Ingenuity Libin Executive-in-Residence – focused on information and communication technologies, TEC Student Entrepreneurship, and the TEC VenturePrize Student Business Plan Competition. As noted at the 2008 TEC VenturePrize Awards Luncheon - “We’re glad to support this training ground for Alberta’s young entrepreneurs, who will turn creative research into new products,” said Dr. Peter Hackett, President and CEO of Alberta Ingenuity. “These are the new business ideas to watch.”
NRC-IRAP provides a financial contribution that supports TEC Edmonton’s efforts to expand commercialization opportunities in the physical sciences and nanotechnology. Through a combination of services such as the TEC Executives-in-Residence program and TEC VenturePrize Student Business Plan Competition, TEC Edmonton’s abilities to connect with inventors, entrepreneurs and companies is significantly increased. Recognizing the value these individuals bring to building strong businesses is what makes this support from NRC-IRAP so important.
TEC Edmonton’s collaboration with WD crosses over many services that assist in the economic diversification of our province. WD supports the TEC VenturePrize Student Business Plan Competition Award, Alberta Deal Generator Boot Camps and the general operating activities of TEC Edmonton. Of particular note, WD played a major role in establishing the TEC Centre – the new home of TEC Edmonton. “The TEC Centre opens the door to new possibilities for increased science and technology commercialization throughout the region,” said the Honourable Rona Ambrose, President of the Queen’s Privy Council for Canada, Minister of Intergovernmental Affairs and Minister of Western Economic Diversification. “The Government of Canada is proud to have invested $15 million to support a new generation of innovators in transforming their ideas into marketable products and services.”