2. TEC Edmonton Mission
• TEC Edmonton develops a stronger Edmonton
economy by:
– Accelerating success of emerging innovationbased companies
– Commercializing technology from private,
university, and public sources
– Fostering and promoting innovation and new
enterprise development
University and City: visionary decision to
create joint venture to create innovationbased commerce for regional benefit.
3. TEC Edmonton
Joint Venture
• Not-for-profit organization
• Commercialization service provider for the
Greater Edmonton region
• Technology transfer agent for the University
of Alberta
4. Stages of Maturity
Idea Generation
Concept
(Academic, Industry,
Entrepreneurs)
Development
Investigation
Feasibility
Commercial
Development
Market Intro
Growth
Innovation Requirements
Management
Technology
Product Development
Licensing
Regulatory Compliance
Market Analysis / Business Planning
Non-Dilutive Funding
Customer Development / Sales
Capital Financing
Facilities
Corporate Structure / Governance
Ecosystem / Cluster / Networks / Referrals / Entrepreneurship Development
TEC Services
Technology Management
• IP Management & Advisory Services
• Technology Development
• Licensing & Legal Services
Business Development
Entrepreneur Skills
Development
Y
• Business Advisory Services
• Company Executive/
Entrepreneur Coaching
• Business & Marketing Plans
•
•
•
•
Entrepreneur Toolkit
Alberta Deal Generator
VenturePrize
Go-To-Market
• Corporate Finance
• Corporate
Structure/Governance
• Incubator Facilities
•
•
•
•
TEC Source Advisory Panel
HQP Training
Mentorship
Networks
Maturity
5. Regional Innovation Collaboration
Prov. Gov / AET
Municipal Gov
Large green lines:
Indicate major
linkages
Federal Gov
Provincial Policy &
Oversight
AITF
Large blue lines:
New major linkages
in the last year
Research &
Innovation
Organizations
• Producers of IP
TEC Edmonton
and
Service
Providers (public
and private)
Regional Alliance
• Complementary
Commercialization
Expertise/Services
Post Secondary
Institutions
• Producers of IP
SMEs
(IP users, IP commercializers)
Established Industry
Sectors
(Market Pull)
• Demand generators for
emerging IP
• Defined industry needs
Finance Community
• Angel / Venture Capital
• Expertise
• Market Access
5
6. 2012/13 Economic Outcomes Summary:
“Innovation System Clients Do Better”*
Description
2011-12
2012-13
Two year total
# of Orgs Surveyed
74
103
Annual Revenue
$73.4M (25% annual
growth)
$106.2M (25%
annual growth)
Employment created
Employment grew 25%, Employment
Employment grew
from 600 to 748; 148
grew 28.5%, from ~25% annually to
new jobs in 49 orgs
857 to 1102; 245 ~1100 jobs
~$180M
new jobs in 72
orgs
Total Sales
$61.5M
$33.8M
$27.7M
$73.3M
$43.3M
$30.0M
~$135M
~$75M
~$60M
Financing/Funding Raised
$29.6M
$54.9M
~$85M
R & D Investment
$17M
$31.5M
~49M
Products/Services Launched
58 in 42 orgs
122 in 52
organizations
180
•
•
Domestic
International
One-year Survival Rate
96%, (vs ~82%
Industry Can
benchmark)
* In comparison to Industry Canada reported benchmark growth rates of ~10% for young entrepreneurial ventures
7. •
Other Highlights
• Main takeaway: entrepreneurs who access support
networks do better – faster growth, better access to
capital, higher survival rates
* Consistent with Kaufmann Institute data on US entrepreneurial outcomes, the smallest and
youngest companies create the most jobs.
8. TEC Sources of Revenue
in decreasing contribution order
•
•
•
•
•
•
•
•
•
•
Commercial Revenue
University of Alberta
Alberta Innovates Technology Futures
Edmonton Economic Development Corporation (City
of Edmonton)
License Revenue
Western Diversification
Alberta Innovates Health Solutions
Industrial Research Assistance Program
Corporate Sponsors
Total: ~$7.5M
Broad Community Sponsorship of TEC Mandate
9. Regional Success Factors
•
•
•
•
•
•
•
•
•
•
•
•
•
networks
established drivers of economy, industry leadership
vibrant startup community
examples for young people, role models
strong university with well-established connections to
commerce in the region
lifestyle factors
awareness
champions
political leadership
capital
strategic partners
have a 'real' brand and tell the story
large receptive IP-based companies
11. Success Stories – 1
• Genetic profiling of
cattle
• Business services:
• Business plan
• Corporate
structure &
governance
• $3.75M funding
• Set up board
• Local Edmonton co.
• Business Services:
• Business plan
• EIR services
(interim CEO;
now CEO)
• Corporate
strategy &
financing ($6MM)
11
12. Success Stories – 2
Willowglen Systems Inc.
Metabolomic Technologies Inc.
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