Medicine Hat Innovators Network
About the Innovators Network
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About the Innovators Network

 Purpose

The Medicine Hat Innovators Network provides technology entrepreneurs access to resources critical to creating new or expanding existing technology based businesses.  By facilitating the networking of entrepreneurs with each other and with local business services and investors, the Innovators Network tries to provide most of the resources of a traditional technology incubator but without the attendant facility costs of professional staff, offices and workshops.

Background

This project grew out of an earlier community initiative, the Opportunity Capital Corporation (OCC), created in 1997 in response to the Canadian Community Investment Plan (CCIP).  The Government of Canada through Industry Canada established this program to sponsor local infrastructure for matching investors with entrepreneurs as a way of developing high growth potential companies.  Medicine Hat was selected as one of 22 pilot sites across Canada, in part because of its unique combination of business development opportunities. OCC was therefor created as a non-profit company under the sponsorship of the Medicine Hat and District Chamber of Commerce who provided most of the one-third local matching funds. During its first five years of operation OCC succeeded in assisting many local entrepreneurs obtain financial backing and in developing a network of potential "angel" investors . Nevertheless, in common with most of the other pilot projects in communities of similar or smaller size it OCC found that access to investment capital was usually not the pacing element in the creation of new business ventures.  In order to understand better the critical needs of the Medicine Hat entrepreneur community OCC collaborated with Medicine Hat College in a feasibility study for an Innovators Network that might provide the required broader support base.  A Study Steering Committee was formed of interested entrepreneurs, academic and government representatives.

The first phase of this study was contracted with two students in the University of Calgary MBA New Ventures program. They undertook to review the operations of Opportunity Capital Corporations and to examine the prospects for a technology business incubator.  Their initial report (Investing in Medicine Hat – A Study of Medicine Hat as a Home to Knowledge Based Entrepreneurs) provided a good tutorial on the development of high growth potential ventures and confirmed much of what we already had concluded that:
a) Medicine Hat was not yet of a size and stage of development of its "innovation ecosystem" to realize the full potential of an investor-entrepreneur matching network and

b) a traditional technology incubator was not economically  feasible in a smaller urban centre such as Medicine Hat.

After the Steering Committee reviewed these conclusions the contractors turned their attention to the concept of a "virtual" incubator.  Conceptually, the required broad base of supporting infrastructure might be assembled by the creative networking of stake holders without the high expense of dedicated facilities and professional staff.  Interviews with local entrepreneurs, business service providers and investors as reported in their Supplement Report revealed that such an approach might be feasible and warranted further investigation by means of a pilot project.  To this end OCC and Medicine Hat College agreed to provide office support and fund the out-of-pocket costs of a volunteer coordinator to undertake such a trial project.

The Medicine Hat Innovators Network was launched in January 2002 under the coordination of Dr. John Moldon and the supervision of the Dean of the Business Department Dr. Geoffrey Green.  The Entre-Corp Business Development Centre became an important third partner in the project, who as a provider of a broad range of services to the business community regarded the Innovators Network as the specialized community resource for technology ventures. Local branches of the Association of Professional Engineers, Geologists and Geophysicists (APEGGA) and the Alberta Society of Engineering Technologists (ASET) became important participants as they represent many of the individuals who found or might potential found technology based businesses.  Activities such as seminars and workshops organized by the Innovators Network provide vital opportunities for the necessary ongoing professional development of their members. 

Achievements

The major achievements of the project to date have been:

a) creating an informal network of local individuals and firms representing entrepreneurs, business service providers and investors sharing a common interest in creating and growing technology based enterprises,

b) offering advice and referrals to local entrepreneurs,

c) developing a web site to promote the Network and distribute information,

d) establishing links with other technology incubators, networks and government agencies in order to gain awareness of Medicine Hat's capabilities and to help local entrepreneurs link to the broader menu of provincial and national resources,

e) assisting in building a network within the system of Albert Public Colleges and Technical Institutes supporting local innovation, and

f) hosting well attended luncheon seminars using expert speakers to address important issues in the development of local technology based businesses and providing participants the opportunity to meet and network.

The experience of the project to date strongly supports the idea that a "virtual” incubator is a valuable adjunct to economic development, is locally supportable and fits with other economic development initiatives within the Palliser region.

Next Steps

Presentations on the progress to date were made to both the City of Medicine Hat Economic Development Advisory Board and the Palliser Economic Partnership Board (which includes the City of Medicine Hat).  With the encouragement of the local office of Alberta Economic Development the Palliser Economic Partnership (PEP) voted to include the Innovators Network within its current development plan.  PEP’s Board has formed a Technology Committee to work with us to define the role and structure of a more formalized Innovators Network.  In defining the model we have several examples of similar networks being established elsewhere in the province.

Implicit in PEP’s adoption of the Innovators Network and the continuing partnership with Medicine Hat College is the assumption that leadership will squarely rest on the shoulders of the Network’s members.   That is to say, those individuals and firms who stand to benefit most as either entrepreneurs, business service providers or investors must organize, provide direction and participate as volunteers.  PEP and Medicine Hat College are principally facilitators.

To this end the Innovators Network project will  work towards creating a more formal organization of stakeholders within the existing Opportunity Capital Corporation's society structure. We look forward to the OCC Innovators Network  becoming the recognized private sector voice for the region's technology sector within the overall framework of the Medicine Hat and District Chamber of Commerce.