Chris Lumb, CEO of TEC Edmonton, says the technology incubator is delivering results for UAlberta spinoff companies and startups in the larger community. (Photo: Brian Gavriloff, Edmonton Journal)
UAlberta's business incubator helps entrepreneurs get an edge in their industry, new survey shows. The University of Alberta's business accelerator is helping entrepreneurs get an edge in their industry, according to a new survey. TEC Edmonton , a joint venture between the U of A and the Edmonton Economic Development Corporation, announced the results from its 2012 Economic Outcomes Survey on Aug. The results suggest entrepreneurs using the business services of organizations like TEC Edmonton achieve far better results than those who do not. Chris Lumb, CEO of TEC Edmonton, said, "These survey results show our unique, made-in-Alberta technology incubator and accelerator is delivering as promised for spinoff companies from the University of Alberta and other academic institutions, and for startup companies in the community at large. These results also speak to our recent number-one ranking in Canada as a business incubator." The international University Business Incubator Index ranked TEC Edmonton as the top Canadian university business incubator and 17th best university business incubator in the world in 2012. Beating the industry odds In 2012, TEC Edmonton's 106 client companies generated $103 million in revenue—a 25% growth in revenue from the previous year.
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