A successor generation of energy sector tenants could soon be incubating within Calgary’s beleaguered downtown office market. The federal government has committed $2.1 million to underwrite a new innovation centre for clean energy start-ups, operating under the joint administration of the University of Calgary and its private sector partner, Avatar Innovations.
“This generous funding takes us another step toward establishing Calgary as Canada’s hub for the transition to a low-carbon energy future,” says Ed McCauley, president and vice chancellor of the University of Calgary. “This effort plays a vital role in revitalizing Calgary’s economy, and we’re proud to be a part of this entrepreneurial solution.”
The new space is envisioned as a venue for Alberta’s traditional energy industry players and emerging enterprises to find common ground to collaborate. The hub will offer access to specialized equipment, expert guidance and training to help facilitate creation of new businesses and back the commercialization of low-carbon technologies, products and services.
In addition, $900,000 will be allocated through Economic Development Canada’s prairies region for the Foresight Clean Technology Accelerator Centre to deliver training and initiatives to attract investors. Both announcements are in line with the Alberta Energy Transition Study, published last fall, which projected the clean technology sector could create 170,000 jobs and account for $61 billion of GDP output in the province by 2050.
“Our support for an energy transition centre in the heart of downtown Calgary, and a proven accelerator for clean technology companies, will help ensure that Alberta businesses can capitalize on these advantages and capture significant global market share in the clean technology sector,” maintains Daniel Vandal, Canada’s Minister of Northern Affairs and Minister responsible for Prairies Economic Development Canada.
