February 2007 ISSUE
Initiative Cultivates High-tech Entrepreneurialism
How do you develop, educate and retain entrepreneurs in Alberta? A new province-wide initiative is about to provide a solution. Two organizations that have independently delivered programs and expertise to foster entrepreneurial talent are pooling efforts to launch Ingenuity Enterprise.
Ingenuity Enterprise is a joint effort of TEC Edmonton and Calgary’s University Technologies International (UTI), who are helping transform technological innovations into business ventures in their regions. With more than $3.2 million in funding over three years from Alberta Ingenuity, Ingenuity Enterprise will enhance existing programs, create new activities, and provide a province-wide framework to accelerate the vibrant entrepreneurial culture across Alberta.
“We have now reached a stage where collaboration among the two regional hubs into a province-wide entrepreneurial initiative will strengthen Alberta’s ability to cultivate and support young entrepreneurs,” said Peter Hackett, president of Alberta Ingenuity.
Ingenuity Enterprise will deliver and promote five programs in northern and southern Alberta. The programs will light the fires for student entrepreneurs at Alberta’s leading research universities. The programs include the appointment of two entrepreneurs-in-residence, business plan competitions, workshops and other opportunities for students to think creatively about business. The programs will be showcased at an official launch in February 2007.
“ The end result will be exceptional talent leading many new Alberta start-up companies,” said Paul Cataford, President and CEO of UTI, who will spearhead the initiative in southern Alberta. “In order to grow our innovation system to the point of self-sustainability, we need to develop our management base and build stronger linkages to the research base. We are still a few years away from a critical mass of entrepreneurial talent, and the creation of Ingenuity Enterprise will help us get there much sooner.”
Dr. David Cox, CEO of TEC Edmonton, and the northern partner in the initiative, says the collaborative approach will optimize the return on investment: “The Alberta entrepreneurial spirit is a province-wide phenomenon. This funding allows us to coordinate Alberta-wide services from the two major hubs to help university and college students and other regional innovators capitalize on entrepreneurial talent and a wealth of regional opportunities.”