By Josh Hall (Twitter: @Vancan19)

Future uncertain for local entrepreneurship program

Jan 21, 2019 | 3:34 PM

A local program helping aspiring entrepreneurs get their ideas off the ground could cease to operate as of March 31.

Catapult launched in downtown Red Deer in 2017 and currently has 22 entrepreneurs enrolled, with another eight inquiries coming in since Jan. 1.

It is one of seven programs across the province funded through Alberta Innovates by the Alberta Entrepreneurship Incubator fund. Specifically, Catapult was given $600,000 to operate as a pilot for the first two years.

However, Minister of Economic Development and Trade Deron Bilous said a Red Deer and District Chamber of Commerce luncheon on Friday that the AEI’s funding’s future is uncertain.

“I haven’t made a decision on whether we’ll extend it or not. I know there has been incredible success not only here, but elsewhere,” Bilous stated.

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“My favourite part of this portfolio is being able to go around the province and meet with entrepreneurs every day who are doing incredible things. Whether it’s in energy, manufacturing, ag or tech, we need to be less Canadian and start talking and bragging about the incredible work, technologies and processes that we are developing here in Alberta.”

Bilous noted the funding was put in place as the downturn was in its infancy because sometimes that’s what it takes for someone who’s had an idea simmering to finally take a chance on it.

Danielle Klooster, Senior Business Development Advisor at Catapult, said it would be tragic for Red Deer’s incubator to have to close its doors.

“We understand there is a provincial election potentially in the way of the decision, but we need to continue to serve entrepreneurs,” she said. “There are lots of wonderful business services in the region, but our program has proven its value. Entrepreneurs can tell you repeatedly how meaningful this program has been to them.”

Through Catapult, prospective businesspersons have access to coaching, training, mentoring, and funding vouchers.

Klooster says she and Bilous discussed possible alternatives, but adds they remain hopeful the government sees the importance and value of the AEI program.