The International Avenue Technology Centre
Rockmount Financial Corporation is pursuing a non-conventional development on the former Hub Oil site, 5805 17 Ave. SE, Calgary, Alberta, the International Avenue Technology Centre (IATC). The development will include industrial bay flex space, a financial institution and a business incubation centre. The IATC builds on the work of Premier Stelmach’s Value-added and Technology Commercialization Task Force Report. In this document, given to the Minister of Advanced Education and Technology, Hon. Doug Horner, a recommendation was made, amongst others, for more support for entrepreneurs in product development and business incubation. Recognition of the value of innovation assistance was given by endorsing the recommendation in the Ministry’s Alberta’s Action Plan: Bring Technology to Market, Action 6.
IATC will be a leading edge business development facility in Western Canada, offering office, lab, and semi-industrial workshop space as well as facilitating innovation assistance to SMEs and startup companies. The IATC assistance to the early growth of semi-industrial firms from commercialization through to pilot production will produce the tangible results of increased innovation, market share expansion and company growth. By linking up companies with research funding, a facility to test/demonstrate products/systems, financial services contacts, business services providers, and a light industrial space, the IATC will become a product commercialization conduit and a cluster catalyst.
IATC is a private development of 73,800 square feet (sf) and will include a 6,400sf financial institution, 4,800sf retail space, 19,000sf business incubator (a mix of office and technical space), 25,600sf office space, and 18,000sf of industrial flex space (retail front, office mezzanine, warehouse bay at back). The incubator will have 10,000sf of furnished leasable office space for clients, two 2500sf, two story workshops with loading bays, meeting rooms, foyer/showcase, a café and administration offices.
The incubator will be incorporated as a Part 9 not-for-profit company under the Alberta Corporations Act. The centre will be fully leased to the IATC on a 10 year lease agreement and will be the anchor tenant for the development. The inclusion of the IATC in a larger commercial project reduces risk and therefore financial cost. It also provides clients with expansion space without needing to carry empty space on the incubator’s books until it can be filled from the client pipeline. The IATC will operate with five full time employees, two volunteers, two part time interns, and many project students. When fully operational the IATC will be funded by tenant rent and corporate sponsorship.
Opportunities exist for collaborative partnerships with other member of the Albertan innovation system, including Innovate Calgary (Intellectual Property), CETAC-West (Innovation Assistance), Alberta Innovates: Technology Futures (Research and Testing), SAIT (the Enerplus Innovation Centre), Mount Royal University (Applied Bachelor of Entrepreneurship), Calgary Economic Development Corporation (Global Business Centre and Sector Initiatives), Venture Alberta, AVAC (Capacity Building Program)and the TSX Venture Exchange (Capital Pool Program). As well as collaborative corporate relationships, for example in the green building technologies sector, with: 1) product suppliers and distributors, like RONA; 2) builders, like the members of the Calgary Home Builders Association; 3) developers, like the members of the Urban Development Institute; and, 4) architects, as found in the Canadian Green Building Council.
A significant opportunity exists for IATC to establish a world-class status through the alliances/partnerships with complementary entities in both technology & entrepreneurship channels with Canada, North America & globally. In terms of entrepreneurship, relationship building is underway with U.S. & Canadian universities and their affiliated organizations; Kauffman Entrepreneurship Foundation USA; banks, VC's & Angel investment networks along with federal and provincial government policies, strategies, programs & services. The intent is to create a comprehensive network and database leading to alliances for entrepreneurial synergies and for new venture creation. In terms of technology, the IATC , through its Advisory Committee, has knowledge of the more than 400 industrial co-operation agreements Canada has undertaken with public/private sector research entities globally and envisions multiple channels to access the myriad of technological advancements and potential for technology partners from throughout the globe. The IATC is further aware of historical undertakings that had begun with leading technological institutions to seek "technology accord" agreements allowing for 2-way flow of technology and joint research initiatives e.g. M.I.T., IC2 Institute, Stanford Research Institute, Chief Scientist of Israel, Japanese and German organizations and many others abroad. The IATC would be well positioned to integrate itself into these networks as a mean of drawing innovative firms to Alberta.
The project has been developed in consultation with best practice incubation models in the United States, located through participation in the National Business Incubation Association. To date, the concept has been presented to and well received by civic, provincial, corporate, trade and academic stakeholders. The IATC will function best if it can become a focal point for the activities of many other organizations. A strong Implementation Committee/Advisory Board has been identified which will bring this project, and its diverse stakeholders, together around the vision of capturing the value in innovation, sustainable development, economic diversification and urban revitalization.
IATC will be a leading edge business development facility in Western Canada, offering office, lab, and semi-industrial workshop space as well as facilitating innovation assistance to SMEs and startup companies. The IATC assistance to the early growth of semi-industrial firms from commercialization through to pilot production will produce the tangible results of increased innovation, market share expansion and company growth. By linking up companies with research funding, a facility to test/demonstrate products/systems, financial services contacts, business services providers, and a light industrial space, the IATC will become a product commercialization conduit and a cluster catalyst.
IATC is a private development of 73,800 square feet (sf) and will include a 6,400sf financial institution, 4,800sf retail space, 19,000sf business incubator (a mix of office and technical space), 25,600sf office space, and 18,000sf of industrial flex space (retail front, office mezzanine, warehouse bay at back). The incubator will have 10,000sf of furnished leasable office space for clients, two 2500sf, two story workshops with loading bays, meeting rooms, foyer/showcase, a café and administration offices.
The incubator will be incorporated as a Part 9 not-for-profit company under the Alberta Corporations Act. The centre will be fully leased to the IATC on a 10 year lease agreement and will be the anchor tenant for the development. The inclusion of the IATC in a larger commercial project reduces risk and therefore financial cost. It also provides clients with expansion space without needing to carry empty space on the incubator’s books until it can be filled from the client pipeline. The IATC will operate with five full time employees, two volunteers, two part time interns, and many project students. When fully operational the IATC will be funded by tenant rent and corporate sponsorship.
Opportunities exist for collaborative partnerships with other member of the Albertan innovation system, including Innovate Calgary (Intellectual Property), CETAC-West (Innovation Assistance), Alberta Innovates: Technology Futures (Research and Testing), SAIT (the Enerplus Innovation Centre), Mount Royal University (Applied Bachelor of Entrepreneurship), Calgary Economic Development Corporation (Global Business Centre and Sector Initiatives), Venture Alberta, AVAC (Capacity Building Program)and the TSX Venture Exchange (Capital Pool Program). As well as collaborative corporate relationships, for example in the green building technologies sector, with: 1) product suppliers and distributors, like RONA; 2) builders, like the members of the Calgary Home Builders Association; 3) developers, like the members of the Urban Development Institute; and, 4) architects, as found in the Canadian Green Building Council.
A significant opportunity exists for IATC to establish a world-class status through the alliances/partnerships with complementary entities in both technology & entrepreneurship channels with Canada, North America & globally. In terms of entrepreneurship, relationship building is underway with U.S. & Canadian universities and their affiliated organizations; Kauffman Entrepreneurship Foundation USA; banks, VC's & Angel investment networks along with federal and provincial government policies, strategies, programs & services. The intent is to create a comprehensive network and database leading to alliances for entrepreneurial synergies and for new venture creation. In terms of technology, the IATC , through its Advisory Committee, has knowledge of the more than 400 industrial co-operation agreements Canada has undertaken with public/private sector research entities globally and envisions multiple channels to access the myriad of technological advancements and potential for technology partners from throughout the globe. The IATC is further aware of historical undertakings that had begun with leading technological institutions to seek "technology accord" agreements allowing for 2-way flow of technology and joint research initiatives e.g. M.I.T., IC2 Institute, Stanford Research Institute, Chief Scientist of Israel, Japanese and German organizations and many others abroad. The IATC would be well positioned to integrate itself into these networks as a mean of drawing innovative firms to Alberta.
The project has been developed in consultation with best practice incubation models in the United States, located through participation in the National Business Incubation Association. To date, the concept has been presented to and well received by civic, provincial, corporate, trade and academic stakeholders. The IATC will function best if it can become a focal point for the activities of many other organizations. A strong Implementation Committee/Advisory Board has been identified which will bring this project, and its diverse stakeholders, together around the vision of capturing the value in innovation, sustainable development, economic diversification and urban revitalization.