With support from TEC Edmonton, our Calgary counterpoint Innovate Calgary introduced its provincial-wide Kinetica Energy Technology Accelerator to Northern Alberta on Thursday, March 5, 2015 at the University of Alberta.
TEC Edmonton and Innovate Calgary have embarked on a unique partnership. With funding from the federal government’s Canada Accelerator and Incubator Program (CAIP), the two city-based technology business accelerators are supporting each other in offering province-wide technology accelerator programs in their respective areas of expertise.
TEC Edmonton’s TEC Health Accelerator concentrates on growing Alberta’s new and early-stage health-related companies, in building bridges between those companies and the Canadian health industry, investors and Alberta’s health delivery system. The University of Alberta is known for its health-related research and commercialization opportunities. Metropolitan Edmonton also has a cluster of off-campus health-related technology companies.
Kinetica, using a slightly different business model, will enhance linkages between energy-related small-to-medium-sized enterprises, startup companies, investors and the industry at large.
Kinetica is using a push-pull model, says Kinetica program director Kevin Frankowski, finding out what the energy industry is looking for, developing a “shopping list”, scouting for new companies with solutions, assessing and mentoring such companies toward commercialization of their product.
Kinetica’s focus areas within the energy sector are hydrocarbon recovery, energy transport, carbon capture/re-use/disposal and renewables.
“Industry wants de-risked, field-trial ready solutions for their key challenges,” Frankowski told the audience gathered at the introduction. “Our job is to shorten the traditionally long development cycle of such products, to guide our Kinetica clients through the ‘valley of death’ (scale up, testing, pre-field trials, then pilot and field trials) leading to commercial use.”
For Kinetica to take an early-stage company into its program, the company must have a product, service or solution on the “challenge list” that Kinetic is compiling from the industry.
The candidate company must be at a “beyond-concept”. Commercialization must be a top priority and a prime motivation.
Kinetica is not, stressed Frankowski, a technology developer, broker, venture fund or industry association. It scouts for companies with solutions to energy industry needs, then guides and mentors those companies on the path to commercialization and profitability.
To learn more about Kinetica’s programs and mandate, visit kineticaventures.com. or contact Kinetica’s Northern Alberta representative Lorena Forester at 780-966-4809, firstname.lastname@example.org.
University of Alberta researchers can learn more about the program through TEC Edmonton Technology Management VP Jayant Kumar, email@example.com, 780-492-9806.