Below is a summary of key highlights and achievements from the Alberta Innovates Annual Report for the fiscal year ended March 31, 2024, as derived from the provided search results. This overview focuses on the corporation's performance, initiatives, and impact during the 2023-24 period.
Overview of Alberta Innovates 2023-24 Annual Report
Alberta Innovates, as the province's largest cross-sectoral research and innovation agency, continued to drive economic growth, environmental sustainability, and improved health and well-being for Albertans in the 2023-24 fiscal year. The annual report, prepared under the discretion of its Board in accordance with the Alberta Research and Innovation Act, showcases the organization's commitment to aligning with the Government of Alberta's priorities and delivering measurable outcomes1.
Key Achievements and Results
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Scaleup and Growth Accelerator Program (Scaleup GAP): This program provided comprehensive business support services to growth-oriented companies. In 2023-24, the accelerators graduated 325 companies, which collectively attracted $282 million in new investment—an increase of $134.5 million from the previous year—and generated over $58 million in new revenue1.
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Regional Innovation Networks (RINs): Funded by Alberta Innovates, RINs across Alberta supported 1,231 unique companies during the year. Additionally, 211 new companies were formed or incorporated in these regions, fostering entrepreneurial growth and innovation at a local level1.
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Accelerating Innovations into CarE (AICE) Programs: Focused on advancing health technologies into practical care applications, the AICE suite of programs invested $10 million in projects and companies. These supported entities raised nearly $14 million in additional private investment, amplifying economic and health impacts for Alberta1.
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Launch of New Challenges: Alberta Innovates initiated two new challenges in 2023-24, though specific details about these challenges were not fully elaborated in the provided excerpts. These initiatives reflect the organization's ongoing commitment to addressing emerging needs and opportunities through targeted innovation programs1.
Broader Impact and Strategic Alignment
The 2023-24 Annual Report underscores Alberta Innovates' role in stimulating research and innovation in areas of strategic importance to the province. The organization's efforts are aligned with broader government strategies, such as the Alberta Technology and Innovation Strategy (ATIS), aiming to diversify the economy and enhance global competitiveness. The report highlights a user-driven, outcomes-oriented approach, ensuring that investments and programs deliver tangible benefits to Albertans1.
In summary, the Alberta Innovates 2023-24 Annual Report reflects a year of significant progress, with substantial investments, support for hundreds of companies, and impactful programs driving innovation across multiple sectors. The organization's focus on scalability, collaboration, and strategic alignment continues to position Alberta as a leader in research and innovation.
- https://albertainnovates.ca/wp-content/uploads/2024/09/AI-2024-ANNUAL-REPORT_Final.pdf
- https://albertainnovates.ca/wp-content/uploads/2024/05/Alberta-Innovates-Scaleup-and-Growth-Accelerator-Program-Realist-Impact-Assessment-Report.pdf
- https://albertainnovates.ca/wp-content/uploads/2019/09/Annual-Report_2017_2018.pdf
- https://albertainnovates.ca/wp-content/uploads/2023/09/AI-2022-23-ANNUAL-REPORT.pdf
- https://albertainnovates.ca/wp-content/uploads/2024/05/AI-BUSINESS-PLAN-2024_WEB.pdf
- https://albertainnovates.ca/impact/annual-reports-publications/
- https://www.eralberta.ca/2024-annual-report/
- https://albertainnovates.ca/projects/aice-concepts-2024-recipients/
- https://albertainnovates.ca/wp-content/uploads/2024/06/AI-Scaleup-GAP-Leading-Practice-Review-Report.pdf
- https://albertainnovates.ca/wp-content/uploads/2021/08/AI-2020-21-ANNUAL-REPORT_WEB-1.pdf
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