Canadian province continues to accelerate development
A new round of investment from the University and the Government of Alberta will develop the province farther.
Remaining one of the most powerful provinces in Canada in terms of economic data, Alberta is not willing to stop its galloping pace. The provincial government is focused on creating businesses and new jobs. And this is where Alberta's universities play an important role: they prepare students for the challenges of tomorrow, as well as stimulate cutting-edge technology projects.
As part of the "Alberta 2030: Building Skills for Jobs strategy", the provincial government supports innovation and the commercial success of scientific research. This inevitably leads to new jobs, stronger economy and better society.
The provincial government has approved the University of Alberta's Innovation Fund, that will invest in local startups and is expected to be launched this year. The fund will raise capital through venture capital funds. That investment will go to Alberta-based startups founded by students, alumni, faculty and other University employees. All profits will go back to the Innovation Fund or to the Sustainable Capital Reserve for the future.
"Creating this innovation fund will help new businesses connect with investors. This is another example of the positive impact post-secondary institutions have on our province," remarked Minister of Higher Education Demetrios Nikolaides.
He is supported by Nate Globisch, Minister of Technology and Innovation, saying "Many exciting Alberta tech startups get their start as research projects in our universities and colleges. The University of Alberta’s new Innovation Fund will build even more momentum in Alberta’s fast-growing tech sector.”
If you have decided to move to Alberta, it's time to get a consultation from our experts who will answer all your questions.
