Re-christened as Enterprise Square, the building re-opened in 2007 as the University’s portal to the city’s business community.
The fourth floor has particular significance.
Built on what was the Hudson’s Bay rooftop, the TEC Centre houses both the offices of the high-tech business incubator and accelerator TEC Edmonton, plus 34,000 square feet of laboratory, manufacturing and administrative space for early-stage, technology-based Edmonton companies.
TEC Edmonton was a grand innovation unto itself. For the first time in Canada, a university and a city partnered to create a single agency to support those emerging Edmonton-based technology companies, be they spun out from University research or coming from the community at large.
Among its many roles, TEC Edmonton manages the TEC Centre space. Of the 22 companies occupying the TEC Centre as tenants in November, 2015, half are commercializing technologies based on University of Alberta research.
The TEC Centre is an attractive proposition for a start-up company just getting on its feet. TEC leases the space at favourable rates. New tenants have immediate access to TEC’s many business services, including advisors, mentors, intellectual property protection, business education, financial brokering and networking. Part of the magic of an incubator is the informal networking and interaction between entrepreneurs working within hailing distance of one another.
Who stays, who goes? TEC Edmonton works with each tenant to determine milestones written into their leases. “Each tenant starts with a scorecard and milestone predictions,” says TEC’s operational director of entrepreneur development, Bob Marshall. “If the company is having difficulty meeting its milestones, TEC Edmonton can help out through its business expertise. A company could downsize, for instance, into a smaller space. If the company consistently can’t deliver on its milestones, TEC can end the lease.”
Over eight years, many companies have “graduated” from the TEC Centre, moving into larger facilities to accommodate growing space requirements
Others, such as LoginRadius (online customer management), Exciton (innovative wound coverings) and Delta Genomics have moved within the TEC Centre as they’ve grown from two-to-three person startups to 10 to 20 employees each.
The “graduation” of several growing companies has opened up some smaller spaces within the TEC Centre. If you are interested, or would like to determine your new company’s eligibility, please contact Bob Marshall at bob.marshall@TECEdmonton.com. We urge you to move quickly. Based on past experience, when TEC Centre space becomes available, it quickly fills up.
TEC Centre tenants, as of November, 2015
CARE Inc.(Canadian Research and Education in Arthritis)
Exciton Technologies Inc.
German Canadian Centre for Innovation and Research
Isobrine Solutions Inc.
Meier & Associates
NRC IRAP – Govt of Canada
OneSoft Solutions Inc.
Style Box Media
VibeDx Diagnostic Corp.