Alberta Innovates helping businesses succeed

Posted on May 2, 2024 by Sunny South News

By Heather Cameron
Sunny South News

Research in RINSA: Opportunities for Value Addition in Agri-Food Industries was hosted recently by Lethbridge College in partnership with the Regional Innovation Network of Southern Alberta (RINSA). 

At that event, Brandy Old and Prashant Pandey from Alberta Innovates spoke about Alberta Innovates.

“The three C’s at Alberta Innovates,” Old said, “are Community, Coaching, and Capital”.

“Our job is more to fund and work with the entrepreneurs,” said Pandey. “Our priority is not just funding. We also work in all aspects of it, from coaching to provide the funding to network. One of our aims is to be working on the cutting edge and funding more research.”

Some of Alberta Innovates main focuses, Pandey said, include looking into how they can digitalize the health sector in Alberta and make it more streamlined, looking at cleaning resources; specifically, how they can reduce the footprint of the industry across the sectors and make it more competitive; and also focusing on smart culture and bringing about more innovation.

Old explained that Alberta Innovates really spend their time helping to grow the business when a company is in need of help.

“That’s where our funding comes in, is to help when you’re testing,” said Old. “Whether you’re a large organization or a small one and you’re launching an innovation or a new idea, we are here to help and we’re kind of that capital and coaching access to get you going so that you can grow and scale. Our goal is to help grow the economy of Alberta.”

Old emphasized that Alberta Innovates truly supports southern Alberta-based businesses and Alberta Innovates is knowledge based.  

Alberta Innovates’s point, Old said, is to help accelerate growth, as they want to see southern Alberta grow.

“We work across the province with other funding agencies and other agencies, and we have about $1.33 million in funding available, and we have already supported almost 1200 projects,” said Pandey. “We are all part of the economy, not just the people, but the key resources and new, reducing the footprint of all kinds of industries.”

That $1.33 million, Old said, is not just Alberta-based funding; Alberta works with NRC (National Research Council of Canada) and entrepreneurs that work with them come and bring funding in, as do other partners that come to the table to support big projects. Funding assistance, Old said, can start at $10,000 and go up to $250,000 if one chooses to work with partners internationally. 

“We’re here along the way to help you with your business strategy, apply new technologies and develop cool stuff,” said Old.