CALGARY (May 9, 2019) – Since TECTERRA’s inception in 2009, the non-profit organization has directly supported 269 startups and SMEs, who have collectively generated more than $120M in revenues from supported projects. The success of these emerging technology companies have a major positive impact on Alberta’s traditional economic sectors while providing important diversification for the economy.
Through four unique funding programs, TECTERRA invests in small and growing companies, who are developing geospatial technology with higher than average technical risk and solving problems for large or clearly-defined markets in Alberta and abroad. TECTERRA’s combination of financial support, subject matter expertise, and project-based coaching creates an invaluable environment of learning and success for start-ups and early-stage companies, significantly enhancing their chances of successful commercialization.
The impact of TECTERRA’s support results in:
- $309M in actual economic impact to date, with over $600M forecast by 2022
- the creation of 437 net-new jobs in Canada
- commercialization of over 100 innovative technologies
“We’re proud to have supported start-ups and small companies to develop and market new technology right here in Alberta. We’re in an era of unprecedented opportunity for technology innovation and geospatial, or location-based, technology is playing a big role in helping industry become more efficient, productive, and ready for the future", explains TECTERRA's CEO, Jonathan Neufeld.
As the digital revolution continues to transform the world, the concept of ‘where’ is becoming fundamental to all decision-making. Advancements in computing technologies, aero-space platforms, sensors and digital communication have steered the growth and expansion of the geospatial industry into new and varied applications. The growth of artificial intelligence, internet of things, big data, and cloud is further accelerating the geospatial industry’s global reach and contribution.
For more information about TECTERRA’s funding programs, their portfolio of companies, or the geospatial industry, visit www.tecterra.com.