Funding of $1.5 Million to Support the Advancement of Emerging Technologies

Supporting the Alberta IoT Fast Track Program and Science Park initiative, the funding received by PrairiesCan and Alberta Innovates will create immense opportunity for the growth of IoT and emerging tech in Alberta

CALGARY, Alberta, May 10, 2022–(BUSINESS WIRE)–Alberta IoT is pleased to announce funding received from PrairiesCan and Alberta Innovates in the total amount of $1.57 million for the advancement and support of Internet of Things (IoT) and emerging technologies in the province of Alberta.

A federal investment of $970,000 through PrairiesCan will be allocated towards the Fast Track Business Accelerator as well as the New to Canada Startup Visa (SUV) program over the next three years. Both programs focus on development and training to support market expansion and growth of scale up companies developing or implementing technologies related to IoT.

“It is immensely rewarding to see the impact that the Fast Track Program has had on businesses here in Alberta. This funding allows us to make improvements and ultimately support more companies in their scaling journey through IoT. Moreover, the inclusion of the New to Canada Program means an opportunity to attract more businesses to Alberta for the benefit of our province and country.”
Brenda Beckedorf, Executive Director

In addition, funding will support the Alberta Science Park – a new initiative spearheaded by Alberta IoT that provides industry with the ability to collaborate with post-secondary institutions and other industry players. This structured environment will incorporate faculty, students, researchers, and industry all working together on projects that push the boundaries of innovation.

“From autonomous farming equipment to wearable health monitors, Internet of Things technologies present an enormous growth opportunity for Alberta technology firms developing new applications in this field. Our government’s support for Alberta IoT provides small- and medium-sized firms with a leg up in their journey to bring their ideas to market through coaching, mentorship, and other resources, creating jobs and retaining talent and expertise in the province.”
The Honourable Daniel Vandal, Minister for PrairiesCan

“Alberta’s tech firms are international leaders in emergent technologies, products and services to meet global demand while creating high quality jobs here at home. Our government’s collaboration with Alberta IoT will bring Alberta-made solutions to a broader market, while providing our innovators with key resources to support their competitiveness and growth.”
The Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance

ABOUT ALBERTA IOT
Alberta IoT is a non-profit, member-based association that exists to nurture and support the growth of Alberta’s Internet of Things and emerging technology sectors. Our mission is to position Alberta as the worldwide leader in IoT and emerging technology.

ABOUT PRAIRIESCAN
PrairiesCan is the federal department that supports economic growth in Alberta, Saskatchewan and Manitoba. Its programs and services help businesses, not-for-profits and communities grow stronger. Its mandate is to support economic growth and diversification in the Prairie provinces and advance the interests of the region in national economic policy, programs and projects.

More details about the Alberta IoT initiatives will be shared at albertaiot.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220510005273/en/

Contacts

Amy Scullion, Relationship Manager
[email protected]