Alberta Innovates has put out a call for proposals with the aim to develop new business and technology accelerators in the province.
In a press release on March 31, the organization said it wants to "vault Alberta’s promising start-ups and small and medium technology companies through scaleup and growth faster." With that goal in mind, it will invest up to $25 million for a three-year contract for three or more accelerators and will consider either private or not-for-profit acceleration models.
“Our goal is to make Alberta a hub for high growth entrepreneurial businesses and recognized as an attractive place for technology investment. We want to help companies scale – not just to become $5-million or $10-million companies – we want to see companies get to $100 million or more," said Laura Kilcrease, CEO of Alberta Innovates.
Alberta Innovates will invest up to $25 million for a three-year contract for three or more accelerators. (Courtesy of Alberta Innovates)
The call out "is part of the organization’s assigned strategy to attract global technology firms and investment to Alberta and increase the local innovation sector’s notoriety around the world," writes BetaKit.
The province's tech firms are on the rise, attracting $455M in venture capital last year, according to a year-in-review report released by the Canadian Venture Capital and Private Equity Association.
The request for proposals is open until April 30.