Feds invest $25.5M to scale-up 15 Calgary firms
The funding comes from PrairiesCan, and is meant to create more than 800 jobs.
The federal government is investing more than $25.5 million, through PrairiesCan and the Jobs and Growth Fund, to help 15 Calgary and area businesses scale-up.
The government said the funding will create and support more than 800 jobs for companies making major contributions to key sectors of Canada’s economy, including health, digital technology, clean energy, and manufacturing.
“Albertans are innovators and always looking forward at new opportunities to grow and succeed,” said Dan Vandal, minister for PrairiesCan, in a news release. “Our government is making investments here in Alberta to ensure leading-edge companies scale-up and provide high-quality jobs Alberta workers can depend on. (The) investment will help further position Calgary as a leader in innovation while further strengthening the competitiveness of Alberta businesses.”
PrairiesCan makes targeted investments to support businesses in priority sectors to innovate, grow and compete globally. The Jobs and Growth Fund helps job creators and the organizations that support them future-proof their businesses, build resiliency, and prepare for growth. Funding is interest-free and repayable.
The federal government said the JGF provides funding to businesses and organizations to build resiliency, enhance competitiveness, create jobs, and position local economies for long-term growth.
Projects receiving the latest support include:
- headversity is receiving over $6 million to expand its digital mental health technology platform to support the caregivers of youth facing mental health challenges.
- Kathairos is receiving more than $3.9 million to grow its emission reduction business, which helps to eliminate greenhouse gas emissions from oil and gas well sites.
- PurposeMed is receiving over $3.5 million to scale up operations and extend delivery of complex telehealth solutions to at-risk and underserved communities in Canada.
- Harvest Builders is receiving $3 million to build an online talent platform to grow the tech sector across the Prairies.
All the businesses receiving funding can be found here.
The government said the initiatives are expected to help support more than 815 jobs, and assist small- and medium-sized businesses to access the talent, technology, and resources they need to bring Alberta-made innovations to new domestic and global markets.
"Calgary is where innovative companies thrive because of our leading business environment that invests in scaling homegrown solutions into global enterprises,” said Brad Parry, president and CEO of Calgary Economic Development, in a statement. “The support by PrairiesCan of high potential Calgary companies shows we are a city with bright minds, big ideas and the backing to expand to new markets and create quality jobs across diverse sectors.”
"We've seen first-hand the type of tech talent that's developing right here in Alberta,” added Dr. Ryan Todd, CEO of headversity. “We are incredibly grateful for this funding and to be able to create more opportunities for the emerging talent in this province to join us in mental health and resilience upskilling.”
Dick Brown, president and CEO of Kathairos Solutions, said this is an exciting moment in Alberta's clean technologies sector, with the oil and gas industry rapidly moving to reduce its methane emissions. The investment from PrairiesCan will allow Kathairos to scale up jobs and commercial deployment to meet industry demand, and—most critically—eliminate tens of thousands of tonnes of methane in the process, he said.
“With this support from PrairiesCan, Harvest Builders is further strengthening our role in addressing the crucial talent gaps that are hindering the growth of the Prairie tech sector,” said Graeme Harrison, president of Harvest Builders. “Our project will focus on closing the talent and skill gaps startups and scaling technology ventures are faced with, and position Alberta and Western Canada globally as a competitive and resilient market for innovation.”