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July 22 2020

Major moves in innovation position Calgary and Alberta for future growth

CALGARY, AB – “The momentum we have gained this week in the innovation space via announcements made by the provincial and municipal governments, and by the private sector, will be critical to advancing our potential and we must continue to build on this in the months to come. At every turn, we must consider how we can create a climate for businesses to develop new models, take on new problems, and enable inclusive growth.

“Chief among the Chamber’s recommendations for an economic recovery that creates long-term sustainable jobs for all Albertans, is to place innovation at the heart of everything we do.

“Today, the provincial government announced $175 million over three years for the Alberta Enterprise Corporation as well as the Innovation Employment Grant (IEG), which will provide grants of up to 20 per cent of research and development spending for innovative small and medium-sized businesses. The Chamber has advocated for targeted fiscal incentives for technology and innovation, and we welcome the launch of this program that outpaces other jurisdictions.

“Other important partnerships and investments that will propel our province forward include $7 million for two Alberta-based companies from the Opportunity Calgary Investment Fund (OCIF), administered by our partners at Calgary Economic Development; and the decision by SVG Ventures, a global AgTech accelerator based in Silicon Valley, to launch their THRIVE Canada Accelerator program in Alberta, with Olds College as their first partner.

“We will continue to advocate for policies that foster the creativity, grit, and determination of entrepreneurial Calgarians and Albertans, and the innovative thinkers in our economy.”

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About the Calgary Chamber

The Calgary Chamber is an independent non-profit, non-partisan business organization. For 129 years the Chamber has worked to build a business community that nourishes, powers and inspires the world.

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