Western Economic Diversification Canada

Western Economic Diversification Canada

July 30, 2015 15:00 ET

Harper Government Supports High-Tech Exporting Opportunities

EDMONTON, ALBERTA--(Marketwired - July 30, 2015) - Western Economic Diversification Canada

Today, the Honourable Tim Uppal, Minister of State for Multiculturalism, on behalf of the Honourable Michelle Rempel, Minister of State for Western Economic Diversification, announced an investment for TEC Edmonton to assist high-tech small- and medium-sized enterprises to enter the Latin American market.

Federal funding of $1.2 million, through the Western Diversification Program (WDP), will enhance the capacity of TEC Edmonton to provide businesses with exporting tools and strategies, enhanced networks in target markets, and the intellectual property protection needed to export their innovative technologies internationally.

TEC Edmonton will work with companies to export new technologies in the health, ICT and agricultural sectors to Brazil and Mexico. These Latin American nations are considered growing markets for pharmaceuticals, medical devices, IT and mobile services, biotech, and the agri-food industry.

Quick Facts

  • TEC Edmonton is a not-for-profit joint venture of the University of Alberta and Edmonton Economic Development Corporation. TEC Edmonton is an award-winning business accelerator that works with start-ups, researchers and entrepreneurs from the Edmonton and northern Alberta regions.
  • The Government of Canada, through its Global Markets Action Plan, has identified Latin America, specifically Brazil and Mexico, as emerging markets with opportunities for Canadian companies.
  • The Government of Canada has made opening markets for Canadian businesses through trade agreements a priority.
  • Economic Action Plan 2015 provides $152 million in trade promotion investments over the next five years to help Canadian businesses fully capitalize on global opportunities.

Quotes

"Western Canadian businesses have the potential and expertise to compete on the international stage. Our Government is proud to partner with TEC Edmonton in supporting high-tech companies as they seek to expand into new markets."

- The Honourable Tim Uppal, Minister of State for Multiculturalism

"This investment in TEC Edmonton will help Alberta entrepreneurs launch their products in Latin America, a market of more than 500 million people and a huge opportunity for Canadian business. The program will create a network of local expertise, business partners and technical support in Latin America. Helping innovators achieve success in that market will be a key part of Alberta's future economic diversification"

- Dr. Chris Diaper, Director of Strategic Partnerships, TEC Edmonton

Additional Links

- TEC Edmonton

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