The research firm Alberta Innovates has announced $735,000 in funding for the region’s entrepreneurs.
The three-year agreement through the Wood Buffalo Regional Innovation Network (WBRIN) is part of more than $18-million deal with multiple communities across Alberta.
Alberta Innovates CEO Laura Kilcrease said her company works to support and encourage Wood Buffalo’s curious entrepreneurs.
“Through the Regional Innovation Networks, Alberta Innovates has brought together the power of a network of strong regional supports across the province to create opportunities for SMEs, entrepreneurs and innovators to be successful.”
Through this investment, Alberta Innovates hopes to drive economic growth and diversity across the province.
Local success story
WBRIN and its partner, StartupYMM, are celebrating the achievements of Fort McMurray-Wood Buffalo’s ‘Lrnkey.com’ and its founder, Hayrapet Hambardzumyan.
Lrnkey.com is a global online marketplace for students and educators, allowing them to find tutors and instructors across various fields of study.
“The teams at WBRIN and StartupYMM played a crucial role in helping me launch this business and figure out how to bridge the gap in connecting learners and educators in a more engaging online environment.” Said Hambardzumyan. “Their mentorship and funding support contributed to my market research, product development, and ongoing challenges that entrepreneurs like me face on a constant basis.”
Hambardzumyan calls WBRIN and StartupYMM “friends for entrepreneurs.”
“Whenever I feel stuck I’m able to pick up the phone and give them a call, and feel like I have a community to support me.”
He said their assistance and tailored advice helped him find “product-market fit”, and overcome barriers faced in the first years of his business.
Darshana Dave with the WBRIN said the region has many budding entrepreneurs and innovators like Hambardzumyan looking for an opportunity.
“Our goal is to create a community of organizations, companies, and individuals who want to see innovation and entrepreneurship thrive in our region. It is important to encourage local entrepreneurs and innovators to put their ideas into action not only to bring economic growth to the region, creating more jobs and varied income options for people living here, but also to build a diverse, supportive and impactful innovation ecosystem in Alberta.”
Alberta Innovates has similar funding arrangements with Calgary, Edmonton, Grande Prairie, Lethbridge, Lloydminster, Medicine Hat, and Olds.
