It’s true, Tecterra really does want to lend you money. So long as you are working on innovation in geospatial technology.
I met with Jonathan Neufeld the CEO of Tecterra, an Alberta-based and funded organization actively looking for Alberta companies that are developing innovative geospatial systems.
Tecterra wants to lend money at zero per cent interest to companies that are using position-based data to provide solutions to government and industry.
They are so interested in doing this, they will help you through the whole life cycle of product development, marketing and sales. Once the product is selling, the loan is repaid.
The technology support is quite extensive. Tecterra has invested millions of dollars in a geomatics lab.
This lab supports rapid prototyping through a Fortus 400 MC 3-D printer and testing through an array of sophisticated GNSS receivers, Lidar, cameras, sensors, RF enclosures, oscilloscopes and more. A brief video of the 3D printer is here:
The money is provided to companies (on acceptance) as a loan at no-interest and repayable on commercial success of the product. From the first meeting to acceptance can be less than four months and Tecterra has helped generate 355 new jobs in 228 organizations. Once the loan is in place, the reporting process is not onerous – Tecterra looks for standard accounting data.
And Tecterra does more than just funding and testing. Two events have been or will be run in 2017 – Tecnovate and North51. These are designed to act as a catalyst for innovation and highlight and share the latest technologies.
As Alberta is still suffering from a deep and stubborn recession, Tecterra should have access to many skilled resources and by creating jobs can help diversify the economy. The time is right for funding from Tecterra to support diversification and technological innovation.
Tecterra has invested over $40 million in high tech companies. Future articles will feature some of these companies and the technology they are bringing to the market. Here are some of the companies supported so far:
- Boreal Laser
- Decisive Farming
- 3V Geomatics
- AKS Geoscience
And a brief bio on the dynamic leader of Tecterra:
Jonathan Neufeld was appointed Chief Executive Officer of Tecterra in February 2017.
After joining Tecterra in 2011, he held a number of positions, most recently director of commercialization. He knows the ropes having helped a number of organizations through the process.
As an engineer with an MBA, he is well equipped for the role and the industry.
“Tecterra is a unique organization with a mission to support entrepreneurs and technology-focused companies improve their odds of success,” said Neufeld, “I am humbled and excited for the opportunity to lead Tecterra as we enter a new phase of support for technology-driven companies who are solving complex problems across traditional and emerging market sectors.”