The Accelerate Fund provides money to Alberta’s early-stage tech startups and entrepreneurs, matching dollars already raised through angel investing, to assist with the operational and administrative costs of launching a new business.
“Investing in technology and innovation is a key component of our recovery plan. The investment today was made possible by our government’s $175-million recapitalization of Alberta Enterprise. This will help diversify our economy and allow innovative companies to hire and grow with confidence here in Alberta.”Doug Schweitzer, Minister of Jobs, Economy and Innovation
The Accelerate Fund typically invests up to $500,000 into their selected startups. Startups must be private, incorporated, and have a head office and more than 50 per cent of their employees located in Alberta. The fund has historically focused on startups in information and communications technology, clean energy technology, health and life sciences, agriculture and biotechnology.