Alberta Innovates says that 169 companies have received support from two pre-accelerators

EDMONTON — Alberta Innovates says they are looking back at the impact and success from the first two years of the Alberta Scaleup and Growth Accelerator program (Scaleup GAP). Their early data shows that the accelerators are on track, performing as expected and providing critical accelerator services to entrepreneurs, innovators, and small and medium-sized businesses.

169 Alberta companies have received services from one of the two pre-accelerators, preparing them to progress to the global acceleration services. They say that 65 Alberta companies have graduated from one of the four global accelerators. Alberta Innovates says the companies have been involved in:

• $147.5 million investment raised,
• 118 new jobs created,
• $12.4 million in company revenue growth created.
• 111 non-Alberta companies have been introduced to Alberta from around the world, leading to six of those companies registering their businesses in Alberta after completing one of the accelerator programs.

Scaleup GAP provides end-to-end business support services for growth-oriented companies just starting out who are fleshing out their business plans all the way to organizations who need advice or investment to help them grow globally. Five accelerators were brought to Alberta in 2021/2022 to bridge the scaleup gap, including Alberta Accelerator by 500, Plug and Play Alberta, Telus Community Safety and Wellness Accelerator powered by Alchemist, Thrive Canada Accelerator and Alberta Catalyzer, an early-stage pre-accelerator.

The global accelerators assist Alberta businesses:

• Address scale-up gaps to help Alberta, Canadian and global ventures to scale and grow and contribute to a thriving innovation ecosystem in Alberta.
• Diversify Alberta’s economy by supporting entrepreneurship and innovation in new technology areas that will create high-quality jobs throughout the province.
• Drive Alberta’s global innovation mindset by attracting global technology firms and investment to Alberta via a world-class acceleration ecosystem.

“Small- and medium-size businesses are the backbone of our economy and create jobs for Canadian workers. The technology sector is burgeoning and our government is assisting these businesses by answering their calls for help to accelerate their development and growth. The investments made over the last year through the Alberta Scaleup and Growth Accelerator program are positioning Alberta tech firms to take their place on the leading edge of Canada’s innovation economy,” says Dan Vandal, Minister for PrairiesCan.