Funding Success: TECTERRA Awards $4.8M in 2014-2015
Editor’s Note: Since this article’s posting, TECTERRA funding programs have been re-launched to provide enhanced support. For details of these new funding streams, visit Mentor Works’ TECTERRA program page.
TECTERRA, a publically funded Geomatics industry association, provides Geomatics businesses in Alberta with Canadian government funding through a range of small business grants. TECTERRA helps businesses optimize their cash flow planning, increase investment in businesses, and foster innovation. Since creation TECTERRA has provided the Alberta geomatics industry wither nearly $34M in funding. They recently announced the recipients for the 2014-2015 program year.
“TECTERRA is very pleased to continue to support the growth of geomatics in Alberta and across Canada, with emphasis on enabling the commercialization of environmental monitoring, management and protection solutions for the Alberta resource industries. Our suite of investment and grant programs have a proven track record and they are accurately reflected through the expanding number of portfolio companies we support. We look forward to continuing to contribute to the economic growth of Canada in the years to come.”
– Dr. Mohamed Abousalem, CEO of TECTERRA Inc.
With their most recent round, TECTERRA awarded $4.8M to Alberta geomatics SMEs to support investment in innovation, R&D, and job creation. The program continues to help businesses improve investment and job creation.
Alberta Geomatics Funding Success
TECTERRA has a successful track record of supporting companies and have helped create numerous jobs, support innovation and increase R&D spending, and support a sustainable Geomatics industry in Alberta since 2010. Since inception TECTERRA has provided nearly $34M in funding to over 170 companies helping to create nearly 900 high quality jobs. They summarized their commercialization support and job creation activities as follows:
| Project/Activity Type | # of Units | Investment $ |
|---|---|---|
| Small and medium geomatics companies supported through project investments and various business support programs |
171 companies | $20,731,991 |
| New HQP jobs (including those within funded projects) | 284 HQP | $1,827,162 |
| University applied research projects | 25 projects | $4,678,505 |
| HQP trained on state-of-the-art geomatics technology | 610 HQP | $248,147 |
| TECTERRA Geomatics Lab investment for product development and HQP training | 25,258 equipment days; 97 training |
$6,424,809 |
Small Business Expansion Grants
TECTERRA programs are a fantastic way for Alberta-based Geomatics SMEs to obtain government support. For businesses in other parts of Canada they can apply for a range of other Canadian government funding programs to help improve investment in their business. Mentor Works has worked with hundreds of businesses across Canada discover Canadian government funding, optimize their cash flow planning strategies, and grow their business. If you are interested in learning more about our services and government funding available to your business contact us today.