MP Chahal announces federal investments to advance innovation and grow Calgary’s small- and medium-sized technology firms
News release
Over $6 million through PrairiesCan will help establish a new Technology Integration Centre and enable Calgary businesses to access capital, talent, and new markets.
August 1, 2023 – Calgary, Alberta – PrairiesCan
Small and medium-sized companies play a vital role in developing innovative products and services that contribute to a more diverse Prairie economy. The Government of Canada is investing in initiatives that help businesses across key sectors in Alberta to grow and create jobs workers can depend on.
Today, George Chahal, Member of Parliament for Calgary Skyview, on behalf of the Honourable Dan Vandal, Minister for PrairiesCan, announced a federal investment of more than $6.1 million for two initiatives to enhance the competitiveness of small- and medium-sized businesses in the Calgary region.
The City of Calgary is receiving over $3.1 million to establish a Technology Integration Centre in currently unoccupied office space in downtown Calgary.
- The Centre will serve as an innovation hub where Calgary-area businesses can test, refine, and showcase their technologies in frontline city operations. Innovators will be able to demonstrate how their solutions can benefit cities around the world while allowing Calgary to potentially transform how it delivers services to residents.
- This project is expected to support the growth of approximately 100 local technology firms and more than 180 jobs, while supporting the City’s vision of being one that is underpinned by innovation.
Calgary Economic Development is receiving $3 million to increase foreign direct investment and business retention activities over the next three years.
- Key highlights include a new program to help businesses in the technology sector to market themselves to top talent, as well as a new international student recruitment program; international missions to help promote Calgary on the global stage; business development tools such as a new database for industry to share investment opportunities in key sectors; and collaboration with Edmonton Global and Economic Development Winnipeg to showcase the Prairies as a place for companies to locate and invest.
- This project is expected to assist 200 local businesses and lead to the creation of about 900 jobs.
In total, today’s investments are expected to lead to more than 1,000 jobs while assisting approximately 300 small- and medium-sized firms, with an anticipated $800 million in foreign direct investment over four years.
Quotes
“Our government is partnering with local economic development drivers in communities across the Prairies to ensure businesses have the resources they need to grow, compete, and create quality jobs for Canadians. Today’s investments will bolster the ability of Calgary’s innovative small businesses to bring their products and technologies to market, attract top talent and showcase all that they have to offer to investors around the world.”
–The Honourable Dan Vandal, Minister for PrairiesCan
“Calgary is home to world-leading technology firms that are on the verge of breaking into new markets, both nationally and internationally. Our investments towards the City of Calgary and Calgary Economic Development will create more opportunities for local businesses to commercialize their technologies while taking advantage of new programs focused on attracting the talent and investment they need to continue growing.”
–George Chahal, Member of Parliament for Calgary Skyview
"The Technology Integration Centre is a collaborative hub to experiment with new technologies to address the challenges and opportunities facing our city, such as climate change, social equity, economic diversification, and engagement. The Centre will allow the City to make data-driven investments and integrate new solutions in a way that benefits the lives of Calgarians."
–Mayor Jyoti Gondek, City of Calgary
“This support from PrairiesCan will provide us an even greater opportunity to tell the real Calgary story to a global audience. A story that continues to reinforce Calgary as an emerging global innovation destination for companies, capital and talent across sectors looking to solve some of the world’s biggest challenges, while enjoying a quality of life that is second to none.”
–Brad Parry, President and CEO, Calgary Economic Development
Quick facts
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The total PrairiesCan investment of $6,149,484 announced today is allocated through the Regional Innovation Ecosystems (RIE) program, administered by PrairiesCan.
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The RIE program creates, grows and nurtures inclusive regional ecosystems that support what businesses need to innovate from start to finish and an environment where companies can innovate, grow and compete.
Associated links
Contacts
Kyle Allen
Press Secretary and Communications Advisor
Office of the Minister of Northern Affairs, Minister responsible for Prairies Economic Development Canada, and Minister responsible for the Canadian Northern Economic Development Agency
Kyle.Allen@rcaanc-cirnac.gc.ca
Brennan Bunko
A/Communications Manager
Prairies Economic Development Canada
Brennan.Bunko@prairiescan.gc.ca
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