Western Economic Diversification in Alberta — Making a Difference

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iNovia Capital

$5 million
Entrepreneurship & Innovation

In order to grow an innovative and knowledge-based economy, there must be support for promising technology-based companies. Access to seed capital is essential for success and one of the industry’s greatest challenges.

• iNovia Capital will invest a minimum of $25 million in Western Canada with a focus on helping entrepreneurs and innovators build successful companies in the sectors of information technology, life sciences and clean technology.
• This project plays a vital role in improving access to capital for small- and medium-sized technology enterprises striving to bring their innovative ideas to market.
• The project will also help strengthen high-tech commercialization activities and stimulate venture capital investment in Alberta.

NorQuest College Centre for Excellence in Print Media Communications

$1.4 million
Entrepreneurship & Innovation

The print industry has undergone significant change in recent years, shifting from traditional manufacturing to electronic media. The future success of western Canadian businesses in the print industry depends on the adoption and continued integration of new technologies.

• enables Canadian businesses in the print industry to access leading-edge technology and expertise in order to improve their productivity and competitiveness;
• provides small- and medium-sized businesses with a place to test new technology and develop technology integration plans;
• helps the industry to address skills and labour shortages in the area.

Rural Diversification Initiative

$4.5 million
Community Economic Development

Rural Alberta means business — all kinds of business. Through the Rural Diversification Initiative, Community Futures (CF) Alberta will fund viable economic diversification projects in rural Alberta and allow the CFs to work with the local business community and surrounding areas.

Community Futures Alberta is ideally suited to lead this initiative as they support the 27 CF offices that are located in the rural communities they serve. Community volunteers and CF staff collaboratively engage in helping develop and implement community-based economic diversification strategies.  Specifically, the Rural Diversification Initiative will support projects under the following categories:

• Support for, and promotion of, productivity enhancement;
• Import replacement;
• Development of new markets
• Innovative access to capital; and,
• Industry cluster development.

Canadian Centre for Unmanned Vehicle Systems

$900,000
Entrepreneurship & Innovation

Alberta’s big skies are open for business. The Canadian Centre for Unmanned Vehicle System (CCUVS), a not-for-profit organization based in Medicine Hat, is quickly becoming a testing, evaluation and commercialization hub for Canada’s unmanned vehicle systems industry.  This funding will help CCUVS start an Unmanned Aerial Vehicle (UAV) launcher service that is the first of its kind in Canada.

Unmanned aerial vehicles are unpiloted, remotely controlled aircraft that can be equipped for applications such as surveillance activities, mapping terrain and monitoring natural resources.

• The acquisition of a high performance launcher will enable a growing cluster of companies involved in the development and commercialization of unmanned aerial vehicle (UAV) technologies to cost-effectively develop leading-edge ideas and products.
• The service will enable smaller Canadian companies to invest more capital in the end product rather than support assets, such as a launching system.
• The service will help attract investment in Alberta’s unmanned vehicle systems industry and ensure that Alberta stays on the cutting edge of these innovative technologies.