Action 3
Action 3: Regional Business Services
What business support currently exists for entrepreneurs to develop their advanced technology ideas into marketable products or technologies?
Entrepreneurs with high-tech ideas have unique needs, and Alberta currently has many regional business development centres such as TEC Edmonton, Calgary Technologies, or University Technologies International that can give advice on patents, intellectual property management, recruitment of technical and professional staff, financing, as well as more general advice on business planning and market research.
What are government’s future plans for expansion of business development centres?
Future plans include strengthening and expanding a network of technology-focused business development centres to more regions throughout Alberta, and encouraging a onewindow approach for compnanies looking for support.
What is the long-term goal?
The long-term goal of a one-window approach is to encourage, build and sustain truly collaborative innovation networks on a regional basis that reflect local needs for technology commercialization. Encouraging broad regional innovation support networks will enhance the level of cooperation and success, while reducing fragmentation or overlap in services to local businesses and entrepreneurs.
What other enhancements to the business development system are planned?
Other enhancements to the business development system include establishing technology development advisors, implementing an innovation voucher system and launching of a technopreneurship program. In addition, we continue to seek other service opportunities wherever possible. For example, the Alberta Deal Generator and the Venture Prize Competition started several years ago as regional community initiatives, but are now being operated and supported on a province-wide basis.
How is one-window access achieved when many agencies are active in one region?
Key agencies within a region are required to submit multi-partner program proposals for government grant funding. This focus on funding of collaborative regional or community-based partnerships, rather than single entity activities, has been successful in better coordinating support for companies. Ideally a lead organization can coordinate the intake of client companies and direct them to other support agencies within the region, as appropriate.
Which regions currently use this coordinated approach?
This multi-partnership model is successfully being used in Edmonton, Calgary, Grande Prairie and Red Deer. Partners in the model may include local colleges (supported by the Alberta Association of Colleges and Technical Institutes – AACTI), regional economic development agencies (supported by staff from FinanceAlberta Employment and Enterprise) and other service agencies. For more information, read the 2007 news release “Regional innovation support to help spur the growth of Alberta's knowledgebased sector”.
How will successful proposals for business development centre projects be chosen for grant funding?
Alberta Advanced Education and Technology uses a thorough due diligence process to evaluate and approve project proposals. This formal process ensures that a consistent set of relevant criteria is applied to all projects, involving a managed scoring process with both internal and external reviewers. Evaluation criteria includes a range of attributes including alignment with Alberta’s strategic priorities; degree of collaboration; private sector contribution to the project (also called leveraging), industry commitment; business viability; and proponent capabilities.
How will enhanced support for regional business development centres complement rural development initiatives?
Funding for regional centres and encouragement for local company and economic growth in communities throughout the province is a common goal of the Action Plan and of rural development initiatives. Some previous projects with joint benefit to technology commercialization and rural development include:
- a small business incubator in Medicine Hat
- the Centre for Research Innovation in Grand Prairie Regional College
- the Centre for Innovative Manufacturing at Red Deer College
- a one-year pilot of a Youth Technopreneurship program (Medicine Hat, Canmore, Peace River) with assistance from local Community Futures offices.
Current as of: Friday, October 24, 2008
Maintained by: Communications branch, AET
