Growing a Culture of Innovation in Northwest Alberta
Impacts Northern Alberta
RADF Investment: $3.4 million
Other Investment: $1,640,000
Total Investment: $5,040,000
Project Period: July 2008–April 2012
Economic Development
T: 780.539.2220
Project Description
This project is helping entrepreneurs in the Peace Region turn ideas and innovations into commercially viable services or products. The Centre for Research and Innovation (CRI) in Grande Prairie is managing the project, systems, operations, and people necessary to develop a "culture of innovation" amongst Peace Region residents. CRI's model contributes to a knowledge-based economy in the region and is reducing economic dependence on natural resources.
Expected Outcomes and Benefits
All projects go through a selection process to ensure they will improve the quality of life for Albertans. This project meets this objective through the following outcomes and benefits:
- Help foster a culture of innovation in the Peace Region
- Increase employment opportunities and employment income
- Open more markets and investment opportunities for Alberta products
- Support rural economic growth with a more diversified economic base
- Innovation-voucher clients contributed directly to $300,000 of new product development
- Help northern Alberta’s innovators fully realize the potential of their ideas