Chris Lumb, the long-time CEO of TEC Edmonton, has announced that he will resign on June 30, 2019.
“After nearly 10 years with TEC Edmonton, I decided this was the right time to step down and bring a new perspective to the organization,” says Lumb. “With outstanding staff and management, a strong culture and excellent client outcomes, TEC Edmonton will continue to do outstanding work, helping to grow emerging technology companies in the community.”
TEC Edmonton has been helping to grow new technology-based companies since 2011. A joint venture between the University of Alberta and Edmonton Economic Development, TEC Edmonton is the largest accelerator of its kind in the region for emerging tech companies. The accelerator also manages the commercialization of University of Alberta (U of A) technologies.
In 2018 TEC Edmonton helped 11 startup companies and assisted researchers in securing nine patents. Some of the companies that owe their successful emergence to TEC Edmonton include Nanostics, who focuses on non-invasive diagnostic testing; and Tēvosol Inc., the innovators behind the lifesaving and vital Ex-Vivo Organ Support System.
Last year the University Business Incubator Global Index ranked TEC Edmonton as the third-best university business accelerator in the world. Client-generated revenue in excess of $1 billion, creating more than 2,000 jobs, and helping to launch 37 U of A spinoff companies are also part of TEC Edmonton’s legacy; and Lumb has been instrumental in this success.
“Through his leadership at TEC Edmonton, Chris has made many contributions to the success of entrepreneurs,” says Cheryll Watson, VP of Innovate Edmonton. “I’d like to sincerely thank him for his contributions to Edmonton.”
Wayne Karpoff, chair, TEC Edmonton board of directors, says, “Over the last decade, we’ve been fortunate to have Chris’ expertise, determination and passion. The growth we’ve seen over the last several years is very much in part due to Chris. We wish him the best in the next chapter of his journey. On behalf of the board, we thank Chris for his tremendous work leading the TEC Edmonton team and being an instrumental force in developing Edmonton as a leader in innovation and entrepreneurship.”
“On behalf of the University of Alberta, I thank Chris for his leadership,” adds Dr. Matthias Ruth, vice-president research, U of A. “He helped TEC Edmonton grow into one of the world’s top university-linked accelerators. Under Chris’ tenure, hundreds of research-driven technologies were licensed and over 110 university spin-off companies were created to commercialize research discoveries. We wish him luck in his next chapter.”
Lumb will spend the rest of his time as CEO of TEC Edmonton working on the accelerator’s strategic positioning, community partnerships and programming. Meanwhile, the accelerator’s board of directors will start the search for Lumb’s successor.
He won’t be far away from his life’s work, however. After June 30th, Lumb will continue to work with local entrepreneurs.