OTTAWA: Gerald Soroka Member of Parliament for Yellowhead wishes to advise that Western Economic Diversification Canada (WD) has announced a $5 million investment under the Regional Innovation Ecosystem (RIE) program to increase access to supports and resources for Alberta-based small- and medium sized technology companies. This investment will enable Alberta Innovates to expand funds available to not-for-profit business accelerators participating in its Scale-Up and Growth Accelerator Program. Alberta Innovates is a provincial organization that provides funding programs, advice, connections, technical expertise and applied research services to stimulate and grow research and innovation across Alberta.
Approximately 300 Alberta technology firms across a range of economic sectors are expected to benefit from the initiative over the next three years. Western Economic Diversification Canada funding will complement an investment of up to $25 million from Alberta Innovates, bringing total funding for the initiative to up to $30 million.