Virtual Technology Incubator Aids in Stimulating the Region?s Economy
Published on November 23, 2010
November 23, 2010, Medicine Hat Alberta...Is your company seeking a way to increase productivity, streamline your business process and have access to financial assistance? The Economic Development Alliance of Southeast Alberta (EDA) is offering new and existing businesses access to a virtual technology incubator and business advisory team- at no cost to the companies.
The incubator allows companies that require information, business coaching and venture capital an opportunity to get advice from the EDA’s innovation facilitator and business development officers, while maintaining their own office or home base. After an initial consultation to better understand the needs of your company, a tailored plan is developed and concrete assistance provided that can range from research and development, finding suitable land and buildings, venture capital or funding for staff.
“Our goal is to help companies increase their competitive advantage,” said Tracy Heebner, rural business development officer for the Economic Development Alliance of Southeast Alberta. “We work with a variety of companies, and can connect them to the correct consultants or applied research facilities, education and training providers and government agencies, along with our services, to help them diversify their business and support the local economy- which in return creates quality jobs.”
According to David Birch of Cognetics Corporation, job creation comes from the following areas: 55% from business expansion, 44% from new company start-ups and 1% from relocations- to aid in expansion and start-ups the EDA is making aware and available the assistance and opportunities to help grow and create sustainable companies in our region.
“We’ve designed an area on our website specific to the resources available to companies. This business assistance section is divided into individual sectors,” said Heebner. “Within each section we’ve created categories such as: grants and funding, associations (regionally and internationally), local organizations, events, reports, studies and publications, multimedia resources and an industry database. The website continues to evolve similar to the expertise offered by our organization.”
The virtual incubator service is funded by the National Research Council- Industrial Research Assistance Program (IRAP), the Rural Community Adaptation Grant Program (RCAP) and the Economic Development Alliance, a non-profit organization funded by the City of Medicine Hat, the Towns of Bow Island and Redcliff and the Counties of Cypress and Forty Mile. The intent of the three levels of government is to support local companies and entrepreneurs in developing new products or services across all sectors.
The virtual technology incubator is already assisting companies in each individual sector to diversify and take their innovation to market; the EDA encourages organizations to go to www.edalliance.ca to view the resources available and then contact the office at 403- 488- 7015 to schedule a face-to-face meeting.