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TEC Edmonton’s Established and New Programs Focus on Helping Entrepreneurs Reach Their Goals

Chris Lumb

TEC Edmonton’s recent VenturePrize marked the business accelerator’s 15th year running the popular competition. VenturePrize, where companies across the province submit business plans in health, fast-growth, student and information & communications technology categories, also provides seminars on business, marketing and legal topics. The seminars help participants get ready to pitch their business plans to the judging panel.

“This is a very exciting year for VenturePrize,” said TEC Edmonton CEO, Chris Lumb. “We look forward to offering the best of TEC Edmonton’s network of expertise to help Alberta companies achieve their goals.”

In addition to the milestone anniversary of VenturePrize, TEC Edmonton is pleased to announce the TEC Innovation District, a community workspace in downtown Edmonton’s Enterprise Square where technology-focused entrepreneurs can access mentorship and coaching from TEC Edmonton’s team and experts. Companies that are accepted into TEC Edmonton’s new program receive personalized mentorship, coaching, 24-hour use of the workspace and access to TEC Edmonton’s network partners. The space is funded by DynaLife and the University of Alberta.

“The Innovation District is much more than a workspace – we have an ‘entrepreneurs for entrepreneurs’ philosophy at TEC Edmonton, where business owners learn directly from people who have built successful companies,” says Lumb. “The street front space is another way for technology entrepreneurs to access our services.”

“Alberta small businesses have a bigger economic impact per capita than small businesses anywhere in the country, and support from incubators like TEC Edmonton are a big reason for it,” says Honourable Deron Bilous, Minister of Economic Development and Trade. “Their mentorship and expert advice for Alberta entrepreneurs means that, working together, we will continue to innovate, excel and build an economy for the future.”

“This space provides a conducive environment for collisions of ideas, and it provides an opportunity to meet and learn from other entrepreneurs,” says Hammad Jutt, CEO of TVCom, and one of the TEC Innovation District’s newest tenants. “We will also have the chance to meet industry experts and seek the support of TEC mentors.”

TEC Edmonton accelerates emerging technology-focused companies and helps them to grow successfully. A joint venture between the University of Alberta and Edmonton Economic Development Corporation, TEC Edmonton operates the region’s largest accelerator for early-stage technology companies while also managing the commercialization of University of Alberta technologies.

Since 2011, TEC clients have reported $680M in revenue, raised $350M in financing and funding, invested $200M in R&D and grown both revenue and employment by 25 per cent per year. They now employ over 2,400 people in the region. In the last four years, TEC has helped to create 22 spinoff companies from the University of Alberta.

TEC Edmonton’s awards and recognitions include being named the fourth best university business incubator in North America by the University Business Incubator (UBI) Global Index in 2015, and “Incubator of the Year” by Startup Canada in 2014.

To learn more about TEC Edmonton or VenturePrize, visit: www.tecedmonton.com.