Edmonton, Alberta — High-tech companies and entrepreneurs
got a boost today with a $15-million federal investment to establish
the TEC Centre at the University of Alberta’s Enterprise Square.
The funding comes from Western Economic Diversification Canada (WD)
and was announced today by the Honourable Jim Prentice, Regional Minister
for Alberta, Minister of Indian Affairs and Northern Development and
Federal Interlocutor for Métis and Non-Status Indians, on behalf
of the Honourable Carol Skelton, Minister of National Revenue and Minister
of Western Economic Diversification.
“Canada’s New Government is creating a more prosperous and
competitive economy by ensuring that innovators and entrepreneurs are
able to take their ideas to the marketplace,” said Minister Prentice
on behalf of Minister Skelton. “Our investment in the TEC
Centre will put Alberta and Western Canada at the forefront of technology
commercialization. This strategic investment will diversify our
economy, reduce our dependency on natural resource industries, create
jobs and improve the standard of living for all western Canadians.”
TEC, an acronym for Technology, Entrepreneur and Company development,
describes the Centre’s primary purpose, which is to transform start-up
technology ventures into competitive companies. The TEC Centre will provide
space and services to early stage technology companies, inventors and
entrepreneurs striving to generate and commercialize new ideas and technologies.
It will assist these companies and entrepreneurs in converting their
research into marketable products and services.
The Centre will be located on the third and fourth floors of the historic
Hudson’s Bay building, which is now known as Enterprise Square.
The transformation of this landmark is an $86.5-million project, which
includes the retrofit of its existing three floors and the addition of
a fourth. Funding for the transformation is being provided by the Province
of Alberta ($15 million), the City of Edmonton ($7.5 million) and the
University of Alberta ($49 million). WD’s $15 million is directed
towards the third floor retrofit and construction of the fourth floor.
“Alberta has made significant investments to build a strong base
of research and technology,” said Doug Horner, Minister of Alberta
Advanced Education and Technology. “Enterprise Square will
provide important services and support to entrepreneurs working to transform
research and new technology into competitive products and services for
world markets.”
“TEC Edmonton is at the front line of efforts to build a diverse,
value-added economy in Alberta and I applaud both our Federal and Provincial
partners for seeing the value in this project, said Mayor Stephen Mandel. “Investment
in TEC Edmonton means that innovations developed at the University of
Alberta will be developed right here and will pay dividends for years
to come.”
TEC Edmonton, a joint venture between the University of Alberta and
the City’s Edmonton Economic Development Corporation, will be the
operational manager for the TEC Centre. The TEC Centre will be
home to TEC Edmonton and incubation-type labs and offices for technology
start-ups, similar to the infrastructure currently provided in the Research
Transition Facility on the University of Alberta campus.
“WD’s support for the TEC Centre helps us meet our objectives
to create more competitive technology-based companies,” said Dr.
Gary Kachanoski, Chair of TEC Edmonton’s Board of Directors and Vice-President
of Research at the University of Alberta. “Start-up technology
companies and entrepreneurs will benefit immensely from the modernized
infrastructure and resources provided by the TEC Centre.”
For additional information, contact:
Donna Kinley
Communications Manager
Western Economic Diversification Canada
Edmonton, Alberta
Tel: (780) 495-6892
Patricia Mistuka
Chief of Staff,
City of Edmonton
(780) 496-8100
Sandra Halme
Acting Director, Communications
University of Alberta
Telephone: (780) 492-0442
Cell: (780) 919-8539
Donna McColl
Alberta Advanced Education and Technology
Province of Alberta
(780) 415-6186
Jason Darrah
Communications Manager
TEC Edmonton
(780) 492-3129
