Province hoping to “Accelerate” Alberta’s tech sector

Nov 11, 2021 | 3:47 PM

Alberta’s government is applauding a new business accelerator as part of a program that aims to create 20,000 jobs and $5 billion in technology firm revenue by 2030.

Plug and Play aims to connect Alberta’s best startup businesses with international corporations to help bring their technology to market faster.

“Plug and Play is a world-renowned business accelerator that will help Alberta businesses get to the next level by providing education, mentorship, credibility and connections. I am pleased it has decided to set up shop in Alberta where it will help grow businesses while attracting job-creating investment and diversifying our economy. Plug and Play will be huge for startups,” says Doug Schweitzer, Minister of Jobs, Economy and Innovation.

“Plug and Play Alberta brings global networks and expertise to firms enabling them to gain traction with new customers and investors,” adds Laura Kilcrease, CEO, Alberta Innovates.

Government officials say accelerators provide startup businesses with education, mentorship and access to a network of corporate partners and venture capitalists.

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A consortium, led by Alberta Innovates and Jobs, Economy and Innovation, is said to be investing up to $45 million over four years to attract four accelerators to the province as part of the Alberta Scaleup and Growth Accelerator Program. The program aims to help create 20,000 jobs and $5 billion in technology firm revenue by 2030.

Three other accelerators – 500 Global, Alberta Pre-Accelerator and Community Safety and Wellness Accelerator powered by Alchemist – are also establishing themselves in the province.

Quick facts

The consortium also includes Innovate Edmonton (City of Edmonton), Opportunity Calgary Investment Fund (City of Calgary) and PrairieCan (the federal government).
Plug and Play connects startups, corporations, venture capital firms, universities and government agencies.
Plug and Play is headquartered in Silicon Valley.

by rdnewsNOW Staff

Province hoping to “Accelerate” Alberta’s tech sector

Quick facts

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