Government Initiatives

The Alberta government has established a number of development initiatives in partnership with the information and communications technologies (ICT) sector. The aim of these initiatives is to stimulate investment and entrepreneurship in ICT businesses.

Access to Capital Programs

The Government of Alberta supports several programs that improve access to capital for ICT companies. These programs often involve networking between ICT companies and potential business investors to help secure capital for future growth.

• Alberta California Venture Channel (ACVC)
  
  The ACVC is a non-profit organization that matches Alberta technology investors and entrepreneurs with business markets, expertise and capital raising opportunities in California.
   
• Alberta Deal Generator (ADG)
  
  The Alberta Deal Generator is a non-profit venture that screens and links Alberta’s high growth technology companies with potential investors.
   
• AVAC
  
  AVAC is a non-profit organization specializing in investments towards Alberta’s value-added industry sectors, including the ICT sector.
   
  
  • IVAC Initiative
    A new investment initiative from AVAC Ltd. which provides investment and other assistance to Alberta businesses in the ICT, life sciences and other industrial technology sectors to help them get to the investor-ready stage.
     
• Banff Venture Forum
  
  The Banff Venture Forum is one of the premier company financing events in the West. It is designed to showcase the hottest hi-tech companies, provide insights into key issues in the industry, provide a premium networking opportunity and a chance to learn from world-class professionals in the investment community.
   
• VenturePrize Program
  
  VenturePrize is a program established by the non-profit group, TEC Edmonton. The Venture Prize Program assists aspiring entrepreneurs to transform high-growth ideas into solid business plans.
  
  
  • VenturePrize Business Plan Competition
    The VenturePrize Business Plan Competition awards $150,000 in prizes to the top three VenturePrize Program business plans in the Fast Growth and post-secondary student categories.

Endowment Funds

The province has established a number of endowment funds and programs as primary mechanisms to fuel innovation and diversify the provincial economy. Endowment funds provide capital for a number of industry funding support programs.

• Access to the Future Fund
  
  The Access to the Future Fund is a $3 billion endowment established by the Government of Alberta to support innovative post-secondary initiatives.
   
• Alberta Heritage Foundation for Medical Research (AHFMR)
  
  The AHFMR was established by the Alberta Government to provide a $1.5 billion endowment fund for medical research.
   
• Alberta Ingenuity Fund
  
  The Alberta Ingenuity fund is a $1 billion science and technology endowment fund created by the Government of Alberta to encourage innovation.

Ongoing Support Programs

The Alberta government provides ongoing funding and support to help ICT companies build the infrastructure and recruit the personnel necessary to stimulate growth and development.

• Alberta Heritage Foundation for Medical Research (AHFMR) Forefront Program
  
  The AHFMR Forefront Program supports Alberta innovators and tomorrow's industry leaders through an Internship Program and four new people-focused awards which are in development including the Industrial Research Program.
   
• Alberta Ingenuity Industry Programs
  
  The Alberta Ingenuity endowment fund established by the Alberta government supports a number of funding programs for basic and applied science and engineering research projects.
   
• Commercialization Associates Program (New)
  
  The Commercialization Associates Program enables Alberta companies to recruit highly trained business and management personnel to advance the commercialization of industrial applied research that benefits the company (each award $55,000 annual stipend and a commercialization allowance of up to $7,000).
   
• Research and Development Associates Program
  
  The Research and Development Associates Program addresses the growing need of Alberta industry for research personnel. Companies receive two years of support for recent Master’s and Doctoral graduates hired to conduct research in the company (each award $55,000 annual stipend and a research allowance of up to $7,000).
   
• Alberta Science and Research Investments Program (ASRIP)
  
  ASRIP supports science and research initiatives of strategic importance to Alberta by investing in research infrastructure that will put Alberta research teams at the forefront of their fields.
   
• iCORE Industrial Chair Program
  
  The iCORE Industrial Chair Program provides financial support for university chairs to attract world-class researchers in the areas of computer science, electrical and computer engineering, physics, mathematics, and other disciplines related to information and communications technology.

Strategic Documents

Review the following documents that outline Government of Alberta strategies for Alberta’s ICT and related technology sectors.

• Alberta Nanotechnology Strategy
  
  On May 2, 2007 Premier Ed Stelmach unveiled the province’s strategy to capture a $20-billion market share of the world’s burgeoning nanotechnology market and announced a $130-million investment over 5 years to expand research capacity and develop new commercial applications that will support Alberta's traditional economic strengths and spur economic growth.
  
  
• Information and Communications Technology: A Strategy for Alberta
  
  The ICT Institute is reviewing and updating the provincial ICT strategy “Information and Communications Technology: A Strategy for Alberta”. Originally released in 1998, this strategy has led to successful projects and the creation of substantial infrastructure. An updated strategy is expected in fall 2007.

Date Updated: Aug 13, 2008
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