By Jonathan Neufeld, CEO of TECTERRA
Geospatial technology is being used every day, in every way, in companies and products that may not even know they’re using it. More and more, we depend on knowing where things are, and using that to solve complex problems.
New applications of location information is transforming industries. Look at how Uber disrupted the taxi industry and Pokemon Go popularized the adoption of virtual reality on mobile devices. These transformational changes are happening in our backyard as well. It’s time to identify these technologies and fully invest in their success.
We recently launched the LEAP Program to support the start-ups, and small companies out there who are pushing the boundaries of science and technology; who are thinking big about how geospatial technology will change our world. LEAP is about supporting transformational change, and encouraging companies with a compelling a vision to build their transformational solutions.
We’ve been co-investing with companies on technology development and commercialization projects since 2009 and as of June 2019 have committed over $47M into 85 companies. These companies have built out innovative technology, grown their user base, and generated more than $74M in revenue from those supported projects.
A handful of these companies have truly put forward transformational technology and demonstrated the ability to build the future. With LEAP we’re looking for more companies like this, with a clear vision for how geospatial technology can transform an entire industry, create new jobs, and shift the economic landscape in Alberta.
Over the years, I’ve learned that helping companies remove as much risk as possible from their new technology project makes it easier to get the ball rolling, shortens the time in development, and launches the product to market faster. By offering a larger amount of matching funds (still at zero-interest) I believe we can encourage companies to think bigger about their projects, to take on new challenges that will lead to transformation, and build the technology companies that will shape our province and our country.
For more information on LEAP visit http://www.tecterra.com/programs/leap/