Four previously existing Alberta Innovates crown corporations have been combined into one organization called Alberta Innovates. The merger includes Alberta Innovates Technology Futures, which operates a nanocellulose pilot plant in Edmonton, and Alberta Innovates Bio Solutions.
Alberta Innovates 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,” said Deron Bilous, Alberta’s Minister of Economic Development and Trade.
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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