6.4 Business Innovation

Principle

Create a local business environment that facilitates and promotes growth, innovation, and entrepreneurship.

Innovation is key to a thriving economy, and St. Albert will continue to create opportunities for new and creative business ideas. The following policies foster a business environment that supports local business growth, new business incubation, and innovation through research and development opportunities.

Policies

6.4.1.

Position St. Albert as a “living lab” for testing new business, social, cultural, and environmental innovations.

6.4.2.

Support the establishment of a multisector innovation centre where entrepreneurs and business, academic, social, culture, and public innovators collaborate to create shared value.

6.4.3.

Encourage and facilitate the development of post-secondary education facilities and partnerships with post-secondary institutions to attract and support students and employers, particularly within Downtown, Trail Corridor Areas, and Employment Areas.

6.4.4.

Coordinate with post-secondary institutions and businesses to provide land supply that is practical for development and responsive to changing needs.

6.4.5.

Encourage the development of business incubators, shared workspace, and other low-cost spaces that facilitate and accelerate the establishment and growth of local business start-ups.