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Canada’s western economic diversification agency has announced $5.5 million in new funding for Alberta health and life sciences firms.
The funding will help companies test and commercialize their products more quickly and aid in Alberta’s post-pandemic economic recovery, Western Economic Diversification Canada said in a news release Friday.
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“Whether targeting COVID-19 or other ailments, the innovative medical products and services supported by today’s investment will protect the health of Canadians and enable entrepreneurs to emerge from this pandemic stronger than before,” said Jim Carr, Prime Minister Justin Trudeau’s special adviser for the Prairies, in a news release.
While the Town of Drumheller recovers from a spike in COVID-19 cases locally, the province of Alberta is battling a second wave of the pandemic, prompting further measures to be implemented with some restrictions coming into effect as of midnight on Sunday, December 13.
The province-wide restrictions have left some businesses scrambling to accommodate clients prior to four-week closures and implement further restrictions on occupancy capacity ahead of Christmas.
“Our small businesses need additional support, and they need them today,” said Minister of Jobs, Economy and Innovation Doug Schweitzer during the Tuesday, December 8 press conference.
These restrictions have meant most retail businesses must reduce occupancy capacity from 25 per cent under previous regulations, to 15 per cent as of Sunday, December 13. The reduced capacity also applies to places of worship, and virtual or drive-in services are encouraged where possible.
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University of Alberta’s Li Ka Shing Applied Virology Institute receives $20 million
The Government of Alberta signalled its support for the University of Alberta’s leadership in Alberta’s biotech sector by announcing $20 million in new funding for the U of A’s Li Ka Shing Applied Virology Institute (AVI) during a celebration of Michael Houghton’s Nobel Prize yesterday. This builds on the more than $30 million the Government of Alberta has invested in the Li Ka Shing Institute of Virology, home to the AVI, over the past 10 years.
Premier Jason Kenney revealed the news before the formal announcement during a virtual reception Thursday night to celebrate Houghton that included U of A president Bill Flanagan, Alberta Minister of Advanced Education Demetrios Nicolaides, Alberta Minister of Jobs, Economy and Innovation Doug Schweitzer, former Alberta premiers Ed Stelmach and David Hancock, U of A presidents emeriti David Turpin and Indira Samarasekera, a host of cu