The Edmonton Research Park (ERP) has been at the heart of research, development, and startup support for Alberta since its inception. It plays a crucial role in the city’s ecosystem as both a provider of infrastructure and a contributing factor to economic growth. In 2024, stewardship of the ERP passed to Applied Pharmaceutical Innovation (API), and this presents a prime opportunity to assist with and achieve the future vision of the ERP.
“The Edmonton Research Park is an interconnected destination for infrastructure-intensive innovation and supporting businesses to establish, create, develop and grow – locally and globally”
There are 26 research parks across Canada and a total of 170 research parks throughout all of North America. Successful research parks often attract businesses and industries that are looking to leverage cutting-edge research and innovation. These businesses may establish partnerships with researchers or set up operations within the park to access talent, technology, and collaborative opportunities. This influx of businesses can bring investments, create jobs, and stimulate economic activity in the region. In short, research parks create a plethora of opportunities!
As for the future vision of the Edmonton Research Park, it will maintain all the beneficial traits that it has been known for, but will also engage in some new initiatives. The purpose of these new initiatives? To develop the Edmonton Research Park into a leading science, technology, and innovation campus known worldwide.
As part of the ERP’s future vision, there were six recommended options and actions put forward by the Edmonton Research Park Advisory Group in 2023:
- Re-evaluate and clearly communicate the vision for the ERP.
- Designate an ERP steward to evaluate and implement programming and supports for ERP businesses.
- Create a communication strategy that raises the profile of the ERP locally and globally.
- Create opportunities for economic development organizations to have an onsite presence in the ERP to provide services directly to businesses.
- Explore incentives or programming tailored to businesses and landowners within the ERP, or to attract potential investors.
- Create opportunities for further development and redevelopment in the ERP.
API, guided by a steering committee with representation from across the park, is now tasked with executing the actions of the ERP’s future vision.
Why is this such a significant task to complete? There are a number of benefits not only for the ERP and the businesses and stakeholders involved, but also the surrounding communities within Edmonton. If there’s one thing that’s universally true about research parks in metropolitan areas, it’s this – when they are booming with success, so is the economy. A rising tide lifts all boats!
In advancing the ERP’s vision, a main goal is to bring businesses from different sectors together. This cross-sector collaboration can encourage interdisciplinary collaboration which in turn can lead to unique, potentially groundbreaking, innovations. Facilitating interactions between businesses and research institutions also promotes the transfer of knowledge and technology, which can quicken the pace of innovation in the ERP as a whole. Lastly, of course, supporting the growth of the ERP businesses contributes to economic development by creating high-value jobs, attracting investment, and strengthening Edmonton’s reputation as a hub for innovation.
The role of the ERP Steward is integral to the success of the Edmonton Research Park in advancing its vision. By supporting businesses and aligning with the strategic goals of Edmonton City Council, the Park is primed to reach global markets and show the world why Edmonton is a leader of innovation and industry.
If outside parties are interested in contributing to or benefitting from the Edmonton Research Park’s future growth, they can reach out to info@edmontonresearchpark.com for more information.