Calgary is a centre for cleantech innovation and the new home to an Energy Transition Centre that will receive more than $3 million from Prairies Economic Development Canada (PrairiesCan) to enable the University of Calgary and partner Avatar Innovations to transform downtown office space into an innovation hub.
"The opportunity for economic growth in Calgary, spurred by clean tech and energy transformation, hinges on significant investment,” said Calgary Mayor Jyoti Gondek, who recently spoke at a tech community event about technology, entrepreneurship and the vibrancy of the city.
“The City of Calgary is pleased to see federal dollars directed towards innovative players such as Avatar Innovations, University of Calgary and Foresight Canada. We are proud to be working alongside key partners to establish Calgary as a centre for excellence in the energy transition economy, which in turn will act as a major catalyst for downtown revitalization.”
PrairiesCan announced it will invest $2.14 million to support the Energy Transition Centre and $900,000 to Foresight Clean Technology Accelerator to deliver training and investor attraction initiatives in Alberta.
At this hub in the heart of the city, innovators, academia and industry, including partners like Cenovus Energy, will help small and medium-sized businesses develop cleantech technologies to meet growing global demand. It is expected to help create at least 25 new businesses over the next three years and support the growth of many others in the clean energy sector.
At the funding announcement, Mayor Gondek underscored the importance of cleantech innovation in the continued diversification of Calgary’s economy.
“When it comes to cleantech startups, 51 per cent of these ventures in Alberta are led by first-time founders, 28 per cent of them were born outside of Canada and 22 per cent are women-led enterprises – that’s the type of diversity we should be celebrating and promoting within our city.”
The Alberta Energy Transition conducted for Calgary Economic Development and partners concluded the global energy transition could create 170,000 jobs in the clean technology sector in Alberta and contribute $61 billion to GDP by 2050.
For more information on Calgary’s cleantech industry and the Alberta Energy Transition Study, visit our Energy & Environment sector profile.