Calgary's tech and innovation industry gets $22.3 million federal funding boost

Calgary's Platform Innovation Centre and parkade on Ninth Avenue S.E.

The federal government made another funding announcement in Calgary on Thursday, this time benefiting the city's tech and innovation sector.

The feds are providing more than $22.3 million in interest-free, repayable funding to some of Calgary's fastest growing tech firms through Prairies Economic Development Canada (PrairiesCan), saying the money will help the companies scale up and enter new markets.

Daniel Vandal, the federal minister in charge of PrairiesCan, made the announcement at Platform Calgary.

The funding provided will go to 13 Calgary businesses that Vandal said are "leading the way in innovation."

The Calgary companies receiving funding are:

The government says funding for the companies is expected to help create a total of 1,000 jobs while also helping Canada meet its commitment to reach net-zero emissions by 2050.

On Thursday, the government also pledged $2 million to help complete Calgary's Platform Innovation Centre.

"The Platform Innovation Centre is the front door to this community — a single point of access for startup founders as they navigate Calgary’s innovation ecosystem," said Platform Calgary CEO Terry Rock.

"The Innovation Centre will support a collective effort to triple the economic impact of tech in Calgary and make this city a global hub for startups and innovation by 2031.”

Brady Parry, president and CEO of Calgary Economic Development, says the city is full of innovators.

"This investment is an example of why Calgary is a top tech city to launch and expand transformative technology," Parry said.