Alberta continues to be the economic engine of Canada. Alberta’s economy has momentum and Alberta’s government is focused on even more job creation and diversification. Alberta’s post-secondary institutions play an instrumental role in preparing students for the workforce of tomorrow and moving the economy forward through innovative technologies.
Alberta’s government has approved the University of Alberta to establish an Innovation Fund, which will be a separate, for-profit subsidiary. This is a key step toward the launch of the fund, which will empower the University of Alberta and other entrepreneurs to access capital, educational programming, mentoring and strategic global networks.
“Creating this innovation fund will help new businesses connect with investors. This is another example of the positive impact our post-secondary institutions have on our province.”
“Many exciting Alberta tech startups get their start as research projects in our universities and colleges. The University of Alberta’s new Innovation Fund will build even more momentum in Alberta’s fast-growing tech sector.”
“This is a key step toward launching the Innovation Fund, which will foster strategic partnerships with investors across the globe. Investing in these emerging and enabling technologies will advance key industries such as health, energy, agriculture and artificial intelligence, providing benefits to all Albertans.”
Under the Alberta 2030: Building Skills for Jobs strategy, the Government of Alberta supports innovation and research commercialization, leading to job creation and strengthening Alberta’s economy.
Quick facts
- The Innovation Fund, expected to be launched this year, will gain capital through venture philanthropy. The fund will invest in Alberta-based startups founded by University of Alberta students, alumni, faculty, staff and Alberta entrepreneurs.
- The fund would invest in ventures in return for equity, with all returns going back into the Innovation Fund or to a sustainable capital pool for the future.