Innovate Cochrane awarded Federal funding to continue innovation ecosystem-building efforts
Cochrane will receive up to $953,180 from Prairies Economic Development Canada’s Regional Innovation Ecosystems Program to foster innovation, incubate ideas , support and establish businesses in the community. The Prairies Economic Development Canada (PrairiesCan) grant, one of 16 provided to organizations throughout the Province, will provide funding for Innovate Cochrane and the Town of Cochrane programming for three years, including the Cochrane Business Incubator, Innovate Cochrane’s Community Innovation Ecosystem Program and a number of events offered by Innovate Cochrane.
PrairiesCan’s Regional Innovation Ecosystems program invests in projects that create stronger, inclusive economies in the prairies. The Federal organization supports non-profits in Alberta, Saskatchewan and Manitoba to increase their reach and economic impact. The successful application was submitted jointly by Innovate Cochrane and the Town of Cochrane to deliver programs to our community to help launch new businesses, innovate their business model, expand their workforce or grow revenues. Together, the partnership aims to support businesses and further the vibrant economy of Cochrane.
"Alberta is known as a global leader in developing innovative and forward-thinking applications across a variety of sectors and industries. Our government is investing in these 16 projects to help Alberta entrepreneurs scale-up and bring their ideas to market. This investment means stronger businesses and more jobs here in Alberta."
–The Honourable Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages
“Through intentional relationships with key innovation partners like Innovate Cochrane, the community is becoming a more welcoming environment for new and established businesses,” says Mayor Jeff Genung, Town of Cochrane. “Continued collaboration is the key to success. We are pleased to have the support of Prairies Economic Development as our community’s potential as a technology hub grows with each participant of these innovative programs.”
The Town of Cochrane’s Business Incubator Program is a significant driver for this investment. Anchored at The Station at Cochrane Crossing, the Cochrane Business Incubator provides early-stage companies access to downtown office space and amenities, mentorship and programming to help them establish roots in Cochrane.
“Since launching the Cochrane Business incubator in late 2023, eight businesses have begun the program,” says Mark Krysinski, Director of Community Growth, Town of Cochrane. “With the financial support and guidance of PrairiesCan, Cochrane can significantly increase its capacity to help locals create and grow businesses in Cochrane.”
Innovate Cochrane, a local non-profit, hosts monthly Community Innovators Speaker Series events with local leaders to foster connections and knowledge sharing. The organization offers a range of programming, including the Community Innovation Ecosystem Program in partnership with Unbounded Thinking to support innovation and leadership for growth oriented organizations of all kinds..
“Innovate Cochrane now has critical support from PrairiesCan to build programming for the community at large,” says Innovate Cochrane’s Executive Director Kimberley Neutens. “With a strong commitment to the community, Innovate Cochrane is dedicated to fostering meaningful connections among entrepreneurs and business leaders, while also highlighting and celebrating the success stories emerging from Cochrane.”
Nathan Klassen, Founder and Board Chair of Innovate Cochrane says, “this grant affirms that vision for community innovation is something Alberta needs, and Cochrane is leading in. I am grateful for the support and recognition of PrairiesCan to seed community innovation in Cochrane and help us attract, launch and grow businesses of all kinds going forward.”
Over the three years, Cochrane and its partners will deliver the following programming.
Cochrane Business Incubator
Frequency: 12–24-month program, enrollment year-round
Provided by: Cochrane Economic Development
Community Innovation Ecosystem Pilot Program
Frequency: Six-month program, four cohort opportunities
Provided by: Innovate Cochrane and Unbounded thinking
Programs for Entrepreneurs and Innovators
Frequency: Regular events including Start-up Cochrane, the Community Innovators Speaker Series and Founders Coffee
Provided by: Innovate Cochrane
To start your entrepreneurial journey in Cochrane or to learn more about business programs available, visit cochrane.ca/business. For community events programs and networking opportunities contact Innovate Cochrane at executivedirector@innovatecochrane.com
