TECTERRA’S Portfolio of Companies Reach $120 million in Revenues
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.
TECTERRA works with Alberta companies that use geospatial technologies to solve problems.
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.
TECTERRA is a government-funded non-profit organization that assists start-ups, and small and medium-sized companies (SMEs) to develop and commercialize technology faster than they could on their own.
TECTERRA helps Canadian geospatial technology companies achieve commercial success faster than they could on their own. We invest in product development and commercialization, create new jobs, build expertise in companies, and provide access to technology. We are the only choice for small and medium size geospatial companies (SMEs) that require this comprehensive range of services, efficiently delivered, without giving up control, intellectual property (IP) or equity.
Since beginning operations in 2009 through to March 2017, we have committed investments totaling $40M in technology innovation and commercialization projects. These investments have been matched with $28M from industry to generate 337 net-new jobs and $203M in actual economic impact. These same investments are forecast to create over $320M in long-term economic impact for Albertans and Canadians by 2020.
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