New program pairs Edmonton startups with businesses that build
Edmonton Unlimited is looking to be the matchmaker connecting tech startups with businesses that want to innovate.
Build World Tech Venture Pilots aims to launch 10 pilots by September, with a mission to "to accelerate the integration of local innovation into the local economy." The scope of "built world tech" could include anything within construction technology, proptech, smart cities, infrastructure, or sustainable development.
"Edmonton has a very significant construction engineering ecosystem. We have some of the best construction engineering firms in the entire world — certainly in Canada," said program lead Zack Storms, citing construction leaders such as PCL and Stantec. "It's also a space that has lacked innovation. When you talk to people from construction engineering, they are all readily willing to admit that their industry suffers from a lack of innovation, and it's ripe for for a lot of opportunities with new technologies."
While applications were encouraged by Jan. 20, it's still possible to apply. Proposals are to be evaluated from February to June.
"This program is aimed at the entrepreneur," Tom Viinikka, the CEO of Edmonton Unlimited, told Taproot. "That's something that we really wanted to dial in and focus on: going to the entrepreneur and trying to help them with the thing they're doing. We don't want to be directive about what an entrepreneur does — I think that's counter to their nature — and so this is helping entrepreneurs step forward, increasing the resources that are available to them, and connecting them to customers."
Storms has been working to solicit built-world companies for the venture pilots while seeking pitches from startups. While the companies tend to face common challenges, their desire for tech mostly comes down to the bottom line.
"Safety is a big theme for the industry," Storms said. "Broadly speaking, a lot of the construction firms are very interested in how they can use various new AI or innovative IT technologies to make things more productive at the organization … I remember talking to one senior executive, and I asked, 'Do you have a list of problems you want to solve?' He said, 'Anything that makes us more money (is appealing).'"
Startups with shovel-ready pilots that aim to scale should apply, Storms said. While startups are not guaranteed a fee from pilot partners, Alberta's Ministry of Technology and Innovation has provided funding to help cover pilot costs, among other expenses. Neither Edmonton Unlimited nor the ministry would disclose the funding amount.