Funding, mentorship and workspace available for health companies, researchers and entrepreneurs
Edmonton, AB, Canada (January 16, 2018) – Recruitment is now open for Merck Invention Accelerator, a new health technology accelerator and partnership between TEC Edmonton, Merck Canada Inc. and the University of Alberta. Set to open March 2018, the program goal is to advance the success of emerging health technologies to save and improve lives around the world. More specifically, the program creates collaborations between Merck, TEC Edmonton, and early-stage companies while advancing health-related technologies from Alberta and beyond.
- Funding to support the advancement of their technology.
- Access to expertise from Merck Research Laboratories (MRL).
- Access to University of Alberta facilities and equipment, and TEC Edmonton wet lab space.
“Merck could have gone anywhere in the world yet they’ve chosen to invest in Edmonton,” says Chris Lumb, CEO, TEC Edmonton. “This demonstrates the importance Edmonton places on entrepreneurship and research and we’re excited about the possibility for more health innovations to get the necessary support to thrive.”
“Fostering innovation, entrepreneurship and competitiveness is essential to the future of the health sector and to providing meaningful benefit to patients,” says Jennifer Chan, Vice-President, Policy and External Affairs, Merck Canada Inc. “This partnership will provide the tools and resources to help advance research-based health innovation.”
“The university is proud to be a part of Merck Invention Accelerator,” says Walter Dixon, Interim Vice-President (Research), University of Alberta. “Our advanced tools and facilities will play a key role in developing Alberta-made health innovations—innovations that will help save and improve lives at home, across Canada and around the world.”
Merck Invention Accelerator is now accepting applications. An initial review of potential companies and entrepreneurs will begin on February 15, 2018. Program and eligibility information is available here: TECEdmonton.com/MerckInventionAccelerator
Program funding support provided by the Alberta Merck Innovation (AMI) Health Fund, a collaboration between Merck Canada, the University Hospital Foundation and the Government of Alberta Ministry of Economic Development and Trade.
About TEC Edmonton
TEC Edmonton is a business accelerator that helps emerging technology companies grow successfully. As a joint venture of the University of Alberta and Edmonton Economic Development Corporation, TEC Edmonton operates the Edmonton region’s largest accelerator for early-stage technology companies and manages commercialization of University of Alberta technologies. TEC Edmonton delivers services in four areas: Business Development, Funding and Finance, Technology Management, and Entrepreneur Development.
Since 2011, TEC clients have generated $915M in revenue, raised $444M in financing and funding, invested 246M in R&D, and grown both revenue and employment by 20 per cent per year and now employ over 1,900 people in the region. TEC has assisted in the creation of 27 spin-off companies from the University of Alberta in the last six years.
TEC Edmonton was named the 4th best university business incubator in North America by the University Business Incubator (UBI) Global Index in 2015, and “Incubator of the Year” by Startup Canada in 2014. For more information, visit TECEdmonton.com.
About Merck Canada Inc.
For over a century, Merck has been inventing for life, bringing forward medicines and vaccines for many of the world’s most challenging diseases. Merck is a leading global biopharmaceutical company with a diversified portfolio of prescription medicines, vaccines, biologic therapies, including biosimilars, and animal health products. In Canada, Merck is a leader in a broad range of areas such as oncology, infectious diseases, diabetes, and vaccines, and markets more than 250 pharmaceutical and animal health products.
Based in Montréal, Québec, Merck employs approximately 783 people across Canada. Merck is one of the top R&D investors in Canada, with investments totaling $35.2 million in 2016 and more than $1 billion since 2000. For more information about our operations in Canada, visit www.merck.ca and connect with us on YouTube and Twitter @MerckCanada.
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