More federal cash is coming to Calgary, this time to boost the city’s tech and innovation sector.
Through Prairies Economic Development Canada, more than $22.3 million will be given in interest-free, repayable funding for 13 Calgary businesses.
On Wednesday, the federal government provided $3.4 million to 13 Calgary public space improvement projects.
On Thursday, MP Daniel Vandal, Minister of Northern Affairs, made the announcement in Calgary. He said the investment will help ensure the growth of the city’s burgeoning tech sector.
“These local companies in Calgary are leading the way in innovation and reaching new markets,” Vandal said in a prepared news release.
Also included in the announcement was $2 million to help complete the Platform Innovation Centre on 9 Avenue SE.
“Behind every great innovator is a great community. The Platform Innovation Centre is the front door to this community—a single point of access for startup founders as they navigate Calgary’s innovation ecosystem,” said Dr. Terry Rock, CEO of Platform Calgary.
The Platform Calgary Innovation centre, when finished, will house 60 service providers and accelerators to provide networking, programming, mentoring and access to capital for Calgary startups.
The Businesses receiving funding:
The hope is that this money will help spur the creation of more than 1,000 new, skilled Calgary jobs.