June 2018: TEC Edmonton, a City of Edmonton / University of Alberta business accelerator, and Merck Canada, a leader in the pharmaceutical industry, recently created the Merck Invention Accelerator. Entos Pharmaceuticals, plus three other innovative technology start-ups, were awarded entry into the Merck Accelerator in June 2018.
This accelerator is the first program launched with the $3.7 million Alberta Merck Innovation in Health Fund, developed by Merck Canada, the University Hospital Foundation and the Alberta Ministry of Economic Development and Trade. The Merck Invention Accelerator provides support and specialized laboratory space for Alberta-based technology companies to connect with health business experts and succeed in the health industry. The aim of this accelerator program is to advance the success of emerging health technologies to save and improve lives globally. The Alberta Government also wants to entice innovative startups from elsewhere to relocate to Alberta.
“This potential collaboration between industry, philanthropists and the public sector would elevate the province’s life-sciences industry to new heights and allow us to more effectively respond to promising new discoveries,” said Chirfi Guindo, president and managing director of Merck Canada.
“World-renowned life-sciences experts want to help our researchers and entrepreneurs create new products and businesses based on Alberta discoveries,” said Deron Bilous, Minister of Economic Development and Trade. “That means healthier lives for people around the world—and new jobs and a more diversified economy here at home.”