Betakit reported that "the deal did not include the sale or transfer of intellectual property or branding rights." Startup Calgary will continue to receive government funding to support it.
Startup TNT founder Zack Storms said the announcement is great news for the Alberta ecosystem.
"Startup Calgary is a relatively lean organization with only two full-time staff including Edmonton native Colton Rhyason. By embedding their team within the Platform team, but still maintaining their independence, they should be able to coordinate the programming of the organizations to better serve entrepreneurs, especially those at the ideation to pre-seed stage, which make up the lion's share of their clientele," he told Taproot.
Storms explained that both teams are already collaborative with organizations from across the province, which will serve them well as they merge.
"Edmontonians should keep an eye on how the situation evolves, as it may prove instructive for some of the restructuring that is likely to happen in our community over the next couple of years," Storms said.