Over $12.2 million through PrairiesCan will help 11 innovative companies across Edmonton to scale-up operations and enter new markets
The Edmonton region is home to a skilled workforce, one of North America's fastest growing technology sectors and some of Canada's most innovative, high-growth companies that are strengthening our economy. The federal government is committed to supporting Edmonton's leading-edge companies to continue growing and creating quality jobs that Canadians can count on.
Today, the Honourable Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages, on behalf of the Honourable Dan Vandal, Minister for PrairiesCan, announced a federal investment of more than $12.2 million for 11 companies across sectors ranging from clean technology and healthcare to quantum computing and artificial intelligence.
Examples of local companies receiving support include:
- Alberta Honey Producers Co-operative Ltd. is receiving $1,822,945 to expand and modernize honey processing and packaging operations, as well as to increase its capacity and bolster sales growth in both North American and Asian markets.
- Boreal Laser Inc. is receiving $1,259,660 to launch a suite of products that incorporate enhanced technologies with the ability to measure gas emissions reliably and scale-up growth in global markets.
- Copperstone Technologies is receiving $1,912,485 to design and build state-of-the-art robots to meet demand for its remote operated hazardous environmental monitoring services.
- DrugBank (incorporated as OMx Personal Health Analytics Inc.) is receiving $715,000 to improve the functionality of its pharmaceutical knowledgebase software and to support international sales growth through product-led growth and partnerships.
- Zero Point Cryogenics Inc. is receiving $604,140 to establish a manufacturing facility with custom dilution refrigerator production capability and to scale-up marketing to capitalize on the growing demand for cryogenic systems in the quantum computing industry.
Today's investments are expected to help support the creation of 475 jobs. Federal funding is repayable and is provided through the Business Scale-up and Productivity (BSP) program and the Jobs and Growth Fund (JGF). PrairiesCan administers these federal programs in Alberta.
