February 22, 2011
Edmonton, Alberta
Technology entrepreneurs and start-up companies will have improved access to the business development services and management expertise needed to take their ideas to market thanks to federal support.
A federal investment of more than $1 million towards TEC Edmonton's Executive in Residence Program was announced today by the Honourable Laurie Hawn, Member of Parliament for Edmonton Centre and Parliamentary Secretary to the Minister of National Defence, on behalf of the Honourable Lynne Yelich, Minister of State for Western Economic Diversification. In addition, Alberta Innovates–Technology Futures has also provided support for the initiative.
"Our Government is committed to providing local technology companies with the resources needed to take their products and services to the global market," said MP Hawn. "This project will help create more jobs and opportunity in communities across northern Alberta."
TEC Edmonton, a not-for-profit business service provider and joint venture though the University of Alberta and Edmonton Economic Development Corporation, will retain experienced, senior-level business executives to provide direct and substantive leadership to a number of start-up companies through its Executive in Residence Program.
"Alberta Innovates–Technology Futures is dedicated to helping companies grow and succeed in Alberta", said Gary Albach, President & CEO of Alberta Innovates– Technology Futures. "Through programs like this, we are working with our partners to provide Alberta companies with advisors who bring strong executive experience to take companies to the next level."
Along with coaching and mentorship, companies with market-ready products and services will also have access to business development and technology commercialization services that may otherwise remain beyond their financial capabilities.
"Our Executives in Residence are a fundamental building-block for TEC Edmonton," said Chris Lumb, CEO of TEC Edmonton. "Their direct experience and credibility in starting, growing, and running technology companies are invaluable for the more than 50 companies we have created and helped in the last couple of years."
Western Economic Diversification Canada works with the provinces, industry associations and communities to promote the development and diversification of the western economy, coordinates federal economic activities in the West and advances the interests of western Canadians in national decision making.
For additional information, contact:
Donna Kinley
Communications Manager
Western Economic Diversification Canada
Phone: (780) 495-6892
Sandra Robertson
Alberta Innovates Technology Futures
Phone: (780) 994-7907
Chris Lumb, CEO
TEC Edmonton
Phone: (780) 492-8977
WD Toll-Free Number:1-888-338-WEST (9378)
Teletypewriter (TTY): 1-877-303-3388
WD Website: www.wd-deo.gc.ca.
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