Alberta launches single Alberta Innovates
November 2, 2016
By Alberta Economic Development and Trade
Nov. 2, 2016 - Alberta Innovates Corporation, a consolidation of existing Alberta Innovates crown corporations, launched this week.
The single corporation will continue to fund and drive provincial research and innovation – building on Alberta’s strengths in health, environment, energy, food, forestry/fibre, and emerging technology sectors.
“We need to build an economy for the future. A consolidated Alberta Innovates will do even more to support our world-class researchers, entrepreneurs and academic institutions as we work together to create jobs and diversify our economy,” economic development and trade minister Deron Bilous said.
“Alberta Innovates is dedicated to catalyzing a strong innovation ecosystem that delivers 21st century solutions to Alberta’s most compelling opportunities and challenges,” said Judy Fairburn, chair of Alberta Innovates Board of Directors.
The consolidation will also help ensure Albertans receive the best return on their investment in research and innovation, the minister said. The corporation’s new executive moves from 20 to 11 positions, saving $2.5 million a year. The reduction comes with a one-time $1.5 million severance cost.
A subsidiary corporation to Alberta Innovates, InnoTech Alberta Inc., also launches Nov. 1. It will provide research services to help test new technology on a larger scale across the province.
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