Starting a business is always intimidating as you need to know the best path, how to get funding or if it will even work. Startup Incubators are an excellent way for early-stage startups to get the resources they need, such as mentorship, connections, and capital. It is hard to stand out in a marketplace with many startup incubators offering the same services. This article will introduce the top five startup incubators that have created successful startups in Edmonton by giving each company its voice and sharing the best way for them to reach their consumers.
Northern Alberta Business Incubator was established in 1989 and is one of the oldest sector-neutral incubators in Edmonton. NABI offers a variety of business assistance, educational/development activities, and mentorship to help early-stage enterprises start, expand, and flourish. Since its founding, NABI has helped over 3,000 entrepreneurs take advantage of new opportunities and graduates from over 470 member businesses. Over $480 million has been added to the Canadian economy by alum enterprises of NABI. It has grown its capacity to serve its 87 active member companies. Their primary focus is to find the best entrepreneurs to connect with regional, provincial, national, and international ecosystems of businesses focused on growth.
In addition to serving the University of Alberta’s commercialization agency, TEC Edmonton provides startup services in Edmonton to the local community. TEC’s three main service areas are client business development, technology commercialization, and entrepreneur development. Since 2011, TEC clients have produced $310 million in sales, obtained $160 million in investment and finance, spent $85 million on research and development, and increased their revenue and employment by 25% annually. They now employ over 1800 people in the area. TEC has also helped 14 university spinoffs to start off in the past two years.
Edmonton Unlimited offers a twelve-week pre-accelerator program called Propel to help early-stage startups commercialize their technology. The program provides access to practical, individualized assistance from knowledgeable mentors who have been there and understand what comes next in the quest to address the world’s most serious issues. The Edmonton Regional Innovation Network, a program of Alberta Innovates, makes this exciting opportunity accessible for founders and up to two other team members free of cost. So, if you are ready to take your tech startup to the next level, consider applying to this incubator program in Edmonton. You can make your dream business a reality with the right resources and support.
It offers business assistance to tech startups in Edmonton who are just starting to develop and expand their tech-based or enabled businesses. To assure advocacy and support for previously neglected tech-founder communities, this pre-accelerator program, with a focus on equity, diversity, and inclusion, includes mentors who reflect the diversity of Alberta’s population. Engage, Traction, and Velocity are the three learning streams offered by Alberta Catalyzer. These streams were explicitly created to help entrepreneurs at different stages of their entrepreneurial careers. You are not required to participate in each program’s three streams. Your merit, level of preparation, and the unique requirements of your startup determine your admission into each stream.
Mwanzo, a program offered by BBVA, is the first step in the entrepreneurship journey specifically for Black founders. This 4-week training program is hybrid and virtual for people who want to realize their business ideas. This program has continual enrolment and is run around the year. It’s an enjoyable approach to getting started in the business. You will also be surrounded by other entrepreneurs working on similar projects, which is an excellent way to network with your peers. Once accepted into an incubator program, you will have access to resources like office space, mentorship, and funding. Black Entrepreneurship Program Ecosystem Fund sponsors this program.
There are many startup incubators in Edmonton, but not all will be a perfect fit for your business. If you need clarification about how to start your new business in Edmonton, consider checking out these cities’ best startup incubators. These incubators provide resources and support to help new enterprises get off the ground and will act as a bridge to connect with other entrepreneurs in the city. Don’t hesitate to ask for help — that’s what these incubators are there for!