Deep Tech Foundry aims to support commercialization

Edmonton Unlimited is launching a program called the Deep Tech Foundry aimed at equipping founders to turn research-based breakthroughs into successful companies. "The Deep Tech Foundry will be a highly focused, bespoke, and hands-on program designed to help technical founders move from promising technology toward companies with customers, partners, and investors that they can believe in," Edmonton Unlimited CEO Tom Viinikka said. The foundry will accept eight to 12 highly vetted science and engineering companies — from Edmonton first, with limited space for companies across Alberta — that have early momentum but are still working through important commercialization questions. The program is still being finalized, and Edmonton Unlimited invites founder input.

The program was announced during Deep Tech Day on Oct. 7 at Edmonton Startup Week. Deep tech founders face a different commercialization journey because development cycles are longer, capital requirements are higher, and customers and investors need rigorous evidence before they commit, Edmonton Unlimited said. Nizar Jaffer Somji, founder of Matrikon, talked about transforming it from a one-person company in 1988 to a global business. Then John P. Davis of Zero Point Cryogenics, Ryan Tucker of G2V Optics, and Jalene Anderson-Baron of Future Fields spoke about the myriad ways a deep tech company can grow. "There is no step-by-step guide for building a deep tech company, but sharing lessons learned can make the journey clearer for everyone," said a post from Zero Point Cryogenics following the panel, moderated by Tiffany Linke-Boyko of Flying Fish Partners.

The day closed its programming with two panels on investment and accessing venture capital. Allen Lau, co-founder of early-stage deep-tech venture firm Two Small Fish Ventures, and Janet Bannister, the managing partner of Staircase Ventures, shared optimistic thoughts about the potential to build deep tech companies in Edmonton. "There are two types of ecosystems: Silicon Valley, and everybody else. So you're not alone," Lau said. "Edmonton is a very large city to build a company with world-class people; you can scale that to a few hundred employees without any problems. By that time, you're well on your way to being a world-class company; you can set up a satellite office and still headquarter here."