On Sept. 5, 2017, business incubator TEC Edmonton announced a strategic partnership with Merck Canada to provide new opportunities for Alberta healthcare professionals and researchers through its TEC Health Accelerator program. The business incubator, which was jointly run by the City of Edmonton and the University of Alberta, provided a wide range of expertise and resources, such as technology evaluation and protection, mentoring, licensing support, potential funding opportunities, and physical space. TEC Edmonton closed its doors Jun. 30, 2021.

The accelerator is made possible by funding from Western Economic Diversification Canada and the Alberta Merck Innovation (AMI) Health Fund, a larger collaboration between Merck Canada, the University Hospital Foundation and the Government of Alberta Ministry of Economic Development and Trade. The space will be shared with the University of Alberta Faculty of Medicine & Dentistry.

TEC Edmonton is a business accelerator that helps emerging technology companies grow successfully. As a joint venture of the University of Alberta and Edmonton Economic Development Corporation, TEC Edmonton operates the Edmonton region’s largest accelerator for early-stage technology companies and also manages commercialization of University of Alberta technologies. TEC Edmonton delivers services in four areas: Business Development, Funding and Finance, Technology Management, and Entrepreneur Development. Since 2011, TEC clients have generated $915M in revenue, raised $442M in financing and funding, invested $245M in R&D, grown both revenue and employment by 25 per cent per year and now employ over 2,200 people in the region. In addition, TEC has assisted in the creation of 26 spinoff companies from the University of Alberta in the last five years.