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Innovate Edmonton receives $5 million from City to support accelerators

City Council has approved $5 million in funding for Innovate Edmonton, meant to support and attract technology accelerators to the city. The $5 million accelerator fund is in addition to the $5 million per year that has been promised to Innovate Edmonton following its creation as the new provincial innovation entity last year. Innovate Edmonton is responsible for evaluating the “Edmonton-specific performance measures” within successful bids and allocating funds. Warren was tasked with building a team for Innovate Edmonton after the new organization was established by Edmonton’s City Council in May. The move formed the new innovation entity independent of the Edmonton Economic Development Corporation (EEDC) and was part of a restructuring of the EEDC, which operated the old Innovate Edmonton, Edmonton Tourism, the Edmonton Convention Centre, and the Edmonton EXPO Centre.

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