Small and medium companies are hiring more employees, partnering with larger firms and expanding into new markets as a result of their participation in Canada’s superclusters.
Topic: tech startups
Toronto-based MaRS Discovery District has proposed expanding some of its innovation components to Calgary. However, key players involved in exploratory talks say the $60-million “MaRS West” initiative will need to complement, not compete with, Calgary’s existing innovation entities and ecosystem.
FedDev Ontario will give $4.8 million to Trent University to create the Trent Enterprise Centre (TEC) in its upcoming Cleantech Commons; less than a year after slashing R&D tax credits and grants, Alberta’s United Conservative Party government has reversed course; Gerald Butts helps Eurasia Group with global climate policy, sustainable finance, and artificial intelligence; and more.
The federal government is providing $1.2 billion in emergency funding to help startups and rural businesses survive the COVID-19 crisis. Participants in Canada’s innovation sector say government could also help by providing tax incentives, matching funding and loans for angel investment.
Alberta’s two largest cities are teaming up to multiply their tech startups. Through the new innovation corridor, they will coordinate programs and services, collaborate on marketing and policy recommendations, and focus on securing early-stage funding for startups.