Success Stories

Lloydminster and Region Virtual Incubator

Community Futures Lloydminster and Region proposes to establish a virtual business incubator to service small and medium sized enterprises (SMEs) in the area. The incubator will deliver support services to the business community and also support the region’s longer-term goal of establishing a bricks and mortar incubation facility.

The objective of the project is to stop out-migration of SMEs, provide opportunities for young entrepreneurs, create a positive business culture for SMEs, and increase economic diversification through the advancement of SMEs focusing on technology and manufacturing. By focusing on these two areas for incubation, they plan to foster growth of business clusters. Incubation services will include business coaching, mentorship, networking and facilitating access to planning and capital.

The Lloydminster and Region Business Incubator (LARBI) Steering Committee is a consortium of public, private, municipal, economic development and educational institution partners. They are conducting a needs assessment and business planning associated with the ultimate goal of a physical incubation facility. LARBI supports this RDI project for a virtual incubator and would like to ultimately transition the virtual incubator services to the physical facility once built and provide a path to long-term sustainability. Both the physical project and the virtual project (RDI) share the same Steering Committee with the expectation that both projects are independent, yet interrelated, with similar goals of supporting local businesses.

Partners include: Community Futures Lloydminster and Region, NRC-IRAP, City of Lloydminster, Lakeland College, Lloydminster Chamber of Commerce, Meyers Norris Penney, Northwest Enterprise Region, Onion Lake First Nations, Poleteski Strilchuk & Milen, Servus Credit Union, Streetscapes Co., The Business Link, Town of Vermillion, Vermillion River Regional Alliance, and Big Sky Media.