Source: Government of Canada regional news (2)
By investing $2 million through the Innovation Catalyst Grant to support eight cutting-edge projects from the province’s next generation of innovators, Alberta is leading the way in the tech and innovation sector.
The Innovation Catalyst Grant program is open to recent graduates from masters and doctorate programs in disciplines related to science, technology, engineering and mathematics. Successful applicants receive $250,000 over two years while they develop and commercialize science-based products and services. This is the program’s third round of funding since it was established in 2022.
“The Innovation Catalyst Grant helps new graduates transform their ideas into small businesses that create jobs and contribute to Alberta’s economic diversification. There’s never been a better time to be in Alberta tech, and this program helps bring more innovative ideas to the ecosystem.”
In addition to funding, recipients also gain access to lab space to support product research, and business development mentorship to support long-term, sustainable growth.
As the newest participants board the program, the first set of funding recipients exited the Innovation Catalyst Grant program with some notable successes. The Government of Alberta has invested more than $2 million into nine tech startups as part of the first cohort, which was originally announced in 2023. Since then, the first-round companies have all seen considerable growth, creating a combined 58 jobs to date and leveraging the provincial investment to secure an additional $6 million in funding from other ecosystem partners.
Quantized Technologies, a first-year recipient of the ICG, took its idea from the lab to market and created a growing small business with 18 employees and three international patent applications pending.
“With this program, QTi went from a professor and graduate student in a lab to raising more than $4 million, assembling a team of 18, and applying for four international patents. The program was a springboard for our growth. We look forward to our next journey: establishing a quantum research and manufacturing facility, creating more jobs, and building tomorrow’s quantum internet.”
Applications for the 2026 intake of the Innovation Catalyst Grant are open until September 1.
Quick facts
- The Innovation Catalyst Grant is administered by the University of Alberta, University of Calgary and University of Lethbridge, with participation and oversight by the Ministry of Technology and Innovation.
- The Innovation Catalyst Grant launched in 2022 with a total investment of $20 million over five years, starting in 2022.
- Alberta’s government has invested $7.25 million to support 29 innovative companies in the first three cohorts.
Related information
- Innovation Catalyst Grant
Related news
- Bringing the best and brightest to Alberta (March 7, 2024)
- Investing in PhD and Master’s tech startups (Aug. 15, 2023)