Federal government to give over $24M to boost Calgary businesses
The federal government stated that it expects this funding will create 1,000 "high-value" jobs while helping the country meet net-zero emissions targets by 2050.
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CALGARY — The Canadian government has announced plans to invest more than $22.3 million in interest-free, repayable funding towards 13 Calgary-based businesses in the technology services field.
The announcement came through the Ministry of Northern Affairs, Prairies Economic Development Canada and the Northern Economic Development Agency. The funding is provided as part of the Canadian government’s effort to support businesses that strive to meet global demand for goods in agriculture, clean energy and digital technologies, according to a statement from Prairies EDC.
The federal government stated that it expects this funding will create 1,000 “high-value” jobs while helping the country meet net-zero emissions targets by 2050.
Calgary companies receiving support include:
BlackSquare Inc. is receiving $500,000.
Canadian UAVs Inc. is receiving $415,000.
Exergy Solutions Inc. is receiving $879,063.
Genoptic LED Inc. is receiving $5,000,000.
MRF Geosystems Corporation is receiving $997,500.
MyHEAT Inc. is receiving $1,650,000.
Nanalysis Corp. is receiving $4,985,000.
Natural Distributions Ltd. (operating as Purple Frog Products) is receiving $461,000.
Organics Express Inc. is receiving $4,368,888.
SumoQuote Inc. is receiving $483,500.
Tangent Design Engineering Ltd, Connect For Inc. is receiving $525,000.
Westgen Technologies is receiving $1,000,000.
“These local companies in Calgary are leading the way in innovation and reaching new markets. Our government’s major investment in these 13 leading-edge companies across Calgary, combined with our support for the Platform Innovation Centre in the downtown core, will help ensure the continued growth of Alberta’s thriving technology sector and create quality jobs that help drive our economy forward,” said Daniel Vandal, Minister of Northern Affairs, Minister responsible for Prairies Economic Development Canada and Minister responsible for the Canadian Northern Economic Development Agency, in a statement.