Government of Canada supports innovative businesses and organizations in Edmonton and surrounding areas
September 5, 2019 – Edmonton, Alberta – Western Economic Diversification Canada
Innovation continues to revolutionize many sectors in Canada’s economy. Through a wide range of programs available to businesses and institutions, researchers, and entrepreneurs, the Government of Canada is ensuring businesses in Northern Alberta remain competitive in tomorrow’s innovation economy.
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada announced over $27 million in new investments for 23 projects across Edmonton and surrounding areas. Funding for these projects is provided through three programs that foster innovation.
Business Scale-up and Productivity (BSP) funding of $18,249,749 will support 12 small- and medium-sized businesses in Edmonton, DeBolt, and Leduc. By providing interest-free loans for these projects, the Government of Canada is supporting expansion into new markets and innovation related to nanotechnology, cosmetics, electronics, health technology, textiles, and digital technology.
Through the Regional Innovation Ecosystems (RIE) program, the Government of Canada is providing $6,250,730 to eight projects in Edmonton. These investments support a diverse range of innovations in advanced manufacturing, aviation, youth-developed technologies, natural products and foods, life sciences, and artificial intelligence.
The Western Diversification Program (WDP) makes strategic investments in initiatives that enhance and strengthen the economy of Western Canada. Through this program, three projects in Edmonton will receive a combined investment of $2,680,670 to support development of autonomous vehicles, advanced manufacturing, and natural resources youth leadership.
“A diversified economy is important to our ability to seize opportunities in the rapidly changing global economy. Through the substantial investments the Government of Canada is making in Edmonton and surrounding areas, we are ensuring the region’s continued leadership in sectors such as autonomous vehicles to artificial intelligence; textiles to life science. These investments will help position Edmonton and surrounding areas to prosper from their unique advantages.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada
Regional Communications Manager
Western Economic Diversification Canada
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