The XPrize Foundation, a non-profit that creates large innovation competitions to solve global problems, has chosen the University of Calgary as its first Canada Hub as well as its first international hub.
The school is receiving $10 million CAD to fund the five-year effort. The provincial government is contributing $1.5 million from Alberta Technology and Innovation to help operate the hub, with the Opportunity Calgary Investment Fund (OCIF) providing an equal amount.
“The University of Calgary is the ideal premier partner for the XPrize Canada Hub with its strong commitment to research, innovation, and entrepreneurship.”
Anousheh Ansari
CEO, XPrize
XPrize says the hub is part of a plan to create a “physical global presence” for the foundation and expand its partnerships with global innovators that will “drive exponential change.” It hopes these locations will draw people from multiple sectors to develop prizes, choose prize winners, and help local teams deliver their competition entries.
University spokesperson Julia MacGregor said the hub is live and will host testing events, workshops, investor days, and summits to spur collaborations between “thought leaders, researchers, entrepreneurs, business leaders and investors.”
Two launch events are already slated for May 7, including a panel on entrepreneurs fostering “systemic change” as well as a “moonshot workshop” to devise solutions for food, waste, and water challenges.
XPrize chose the University of Calgary for the hub due to its “vibrant entrepreneurial culture” and leading role in “Canada’s innovation ecosystem,” the institution said on its website, a statement XPrize CEO Anousheh Ansari echoed.
“The University of Calgary is the ideal premier partner for the XPRIZE Canada Hub with its strong commitment to research, innovation, and entrepreneurship,” Ansari said.
Nate Glubish, Alberta’s Minister of Technology and Innovation, claimed the hub would “solidify Alberta’s position as a leader in technological advancements.” Calgary Mayor Jyoti Gondek argued the XPrize move “strengthens our international reputation” as a city that’s “building a better future for everybody.”
RELATED: Opportunity Calgary Investment Fund receives $60 million to scale local businesses
The unveiling comes just as Dartmouth, NS-based Planetary Technologies won a $1-million XPrize award for technology that removes carbon dioxide (CO2) from the atmosphere using treated seawater. XPrize chose three Canadian finalists for that competition, which aims to remove 10 gigatonnes of CO2 per year by 2050.
XPrize runs competitions in multiple fields ranging from conservation and energy through to health and space exploration. It touts numerous high-profile sponsors and benefactors, including Elon Musk (plus his Musk Foundation) as well as Amazon, Google, IBM, and Walmart.
Feature image courtesy Riley Brandt, UCalgary.