The organization will provide funding to Alberta companies going to market with geospatial technologies

Mario ToneguzziTECTERRA, a government-funded not-for-profit, is launching the new LEAP program to fund the development and commercialization of technologies with the potential to transform an industry.

“Alberta companies are creating innovative technologies that have the potential to significantly alter the trajectory of whole industries or markets,” said Jonathan Neufeld, CEO of TECTERRA, in a news release.

“Through LEAP, we will provide substantial support for innovative companies with a clear mission, and help them take their transformational technology to market faster so they can effectively compete in the global market.”

The organization said it will provide funding to Alberta companies going to market with their innovative geospatial technologies.

Funding will be provided for projects with budgets greater than $1 million.

It said Alberta small to medium sized companies working on disruptive geospatial technology products may apply for a loan to cover 50 per cent of the development and commercialization costs, to a maximum of $1 million per project.

Geospatial technologies is a term used to describe the range of modern tools contributing to the geographic mapping and analysis of the Earth and human societies.

Respected business writer Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.

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