Posted: September 8, 2015
The TEC Edmonton 2014-15 Annual Report marks another successful year in the development and growth of Greater Edmonton and Alberta innovation-based companies.
Our clients’ success is our success. The cumulative growth of TEC Edmonton’s business clients from 2011-2012 to 2014-15, from our fourth Client Economic Outcomes Survey as reported in the 2014-15 Annual Report, confirms that success.
The following metrics for 2014-15 are in contrast to the same figures (in brackets) for 2012-13:
- Number of organizations surveyed: 128 (74 in 2012-13)
- Annual revenue of clients: $160.7 million ($73.4 million)
- Growth in employment from previous year, 26%, 364 new jobs in 83 organizations (25%, 48 new jobs in 49 organizations)
- Financing/funding raised by clients, $72.2 million ($29.6 million)
- Research & Development investment by clients, $56.3 million ($17 million )
Our clients’ success is our success. Their stories are highlighted in the 2014/15 TEC Edmonton Annual Report.
With the assistance of TEC Edmonton’s Technology Management team and as a TEC Centre client, Extraordinary Adsorbents is commercializing three separation processes invented by U of A professor + researcher Dr. Steve Koznicki. These molecular sieve separation methods promise greener, safer, faster and cheaper environmental clean-up.
Tevosol holds great promise in organ transplant transportation technology, potentially doubling or tripling the number of possible donor hearts available world-wide. Inventor and University Hospital transplant surgeon Dr. Darren Freed is taking full advantage of the business and intellectual property protection services offered by TEC Edmonton’s new TEC Health Accelerator program.
Long-time TEC client and TEC Centre tenant Exciton Technologies is ramping up its exsalt® wound care product, from $1.3 million sales in 2014 to an expected $2.5 million in 2015. TEC Edmonton first worked with Exciton as a two-employee company in 2008. Today Exciton has 20 full-time employees.
IGY’s natural health product, developed by U of A researchers, manipulates natural antibodies in eggs to relieve gluten intolerance. The technology was licensed through TEC Edmonton’s Technology Management division to health products developer Vetanda Group. Over the past five years, TEC Edmonton’s Technology Management division has assisted in the creation of 22 new University of Alberta spin-off companies.
Our clients’ success is our success: The TEC Edmonton operation and its client success was carefully assessed by the University Business Index, a world-wide organization based in Sweden that ranks the effectiveness of business incubators commercializing university research the world over.
TEC Edmonton’s client success moved our organization from 14th in the UBI Index global ranking in 2012-13 to 10th in 2013-14, and 3rd in North America.
In 2014, TEC Edmonton was also named Canada’s top startup business incubator at the inaugural Startup Canada Awards.
New TEC Edmonton programs have been launched in direct response to client needs. The TEC Health Accelerator has set a goal of assisting 50 new health-related companies in Alberta by 2019. TEC International is assisting start-up and ramp-up companies to expand into international markets, specifically in Central and South America.
UASolve matches university research/testing expertise with specific technology improvement needs of existing Alberta businesses. UA Solve has been met with enthusiasm both from companies grateful to access such expertise and university researchers excited to be assisting Alberta industry.
TEC Edmonton facilitates angel and venture capital investment in its client companies through TEC Venture Angels.
TEC Edmonton assesses the investment-readiness of clients, and, if they pass muster, assists them in pitching their business proposal to a group of angel investors. Last year, through TEC Venture Angels, 29 new companies were funded at an average $220,000 investment per company.
Our clients’ success is Edmonton’s and Alberta’s success: “Through a broad and strong innovation ecosystem in Edmonton and indeed throughout Alberta, Edmonton has become known as a centre of entrepreneurial excellence,” says TEC Edmonton CEO Chris Lumb. “The slogan Make Something Edmonton isn’t just wistful thinking, but a direct reflection of the level of measureable entrepreneurial enterprise that is diversifying our economy.
“The more TEC Edmonton can contribute, the better off we all are.”
The TEC Edmonton 2014-15 Annual Report is available online
Printed copies are available on request at firstname.lastname@example.org or by calling 780-248-5886.
TEC Edmonton is a community partnership, a joint venture between the City of Edmonton and the University of Alberta. Our purpose is to accelerate the growth of emerging technology-based companies in Greater Edmonton and Northern Alberta.
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