Scaleup and Growth Accelerators Provide New Opportunities for Alberta Innovators and Entrepreneurs to Excel
31 Mar 2021
(Edmonton, Alberta) March 31, 2021 – Alberta Innovates is issuing a request for proposals (RFP) for the development of business accelerator(s) to vault Alberta’s promising start-ups and small and medium technology companies through scaleup and growth faster.
Alberta has a scaleup gap. While half of all start-ups survive over five years, only 0.1 per cent of small firms become mid-sized, and only two per cent of mid-sized firms become large. Alberta Innovates is seeking three or more technology/business accelerators to address the scale-up gap and help Alberta startups and Small to Medium Sized Enterprises (SMEs) to scale and grow and contribute to a thriving innovation ecosystem in Alberta.
This RFP is also intended to expand Alberta’s global innovation mindset by attracting global technology firms and investment to Alberta via world class acceleration and ecosystem. Selected accelerators will also help to diversify Alberta’s economy by supporting entrepreneurship and innovation in new technology areas that will create high-quality jobs throughout the province. This will contribute to 900 new junior technology firms, 20,000 jobs and $5 billion in technology firm revenue in the province by 2030.