Alberta is becoming one of North America’s fastest-growing and most innovative tech sectors. This has led to increased investments in the province, job creation and talent retention in this sector. To help continue this success in the tech sector, Alberta’s government will provide the universities of Alberta and Calgary with $27.3 million over four years under the Major Innovation Fund.
This fund will help these trail-blazing universities lead strategic initiatives to accelerate research and commercialization in medical devices, electronic and mobile health, clean energy, and space and defence technologies. The universities of Alberta and Calgary will partner with eligible post-secondary institutions, such as the University of Lethbridge and Athabasca University, and leading industry partners to capitalize on Alberta’s research excellence and attract investments into the technology sector. Between 2019 and 2021, the Major Innovation Fund invested $20 million to three pan-Alberta initiatives led by the universities of Alberta and Calgary in quantum technologies, antimicrobial resistance and autonomous systems.
These collaborative projects resulted in:
1. Attracting more than $25 million in funding from other sources
2. 207 industry partnerships
3. Eight spinoff companies attracting 477 highly qualified personnel to Alberta and retaining 231 others