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OPERATIONAL OVERVIEW:
INDUSTRY DEVELOPMENT
The key aspect to developing a self-sustaining Alberta-based VC industry is cultivating the industry ecosystem surrounding technology startups, technology investors and related networks. This means bringing together and supporting investors, startups and management talent. We have seen continued revitalization and significant growth in Alberta’s technology ecosystem over the past year, and AEC has been at the forefront of this success.
AEC works to fill the gaps in the ecosystem and to create meaningful connections between existing organizations. We have been successful in supporting the creation of industry-driven, grassroots organizations that play a critical role in the technology and VC ecosystems. These groups connect Alberta entrepreneurs, startups, investors and mentors within Alberta and outside the province. Our strategies to support the tech companies and the industry ecosystem are included below.
Industry Development Strategies and Outcomes
AEC utilizes a number of strategies to achieve our mandate for industry development.
1. Lead and support initiatives that increase the connectivity between entrepreneurs and investors and investors to investors.
The collective ecosystem organizations are necessary to create a strong and sustainable deal flow pipeline of tech companies from Alberta. Development of organizations, events and initiatives that address the gaps in the technology ecosystem continues to be a leading strategy in increasing the quantity and improving the quality of deal flow from Alberta. Based on the learnings from last year, we expanded the language of this strategy in 2022/23 to include increasing the connectivity between investors
to investors in addition to entrepreneurs and investors. The ability for investors (family offices, high-net-worth individuals, and VCs) to connect is paramount to deal syndication as well as providing ample opportunity for knowledge sharing.
2. Lead and support initiatives that raise AB’s tech ecosystem profile and increase startup quality.
Alberta’s current status as an early-stage tech ecosystem requires tech entrepreneurs and local VC’s to access external contacts and resources to support the growth of strong tech companies and increase the quality of deal flow. We work
3.
to grow Alberta’s presence on the national and international stage by highlighting the unique advantages of Alberta’s tech ecosystem that make it a fertile investment location with real value for investors.
Lead and support initiates that connect Alberta’s entrepreneurs and ecosystem to other ecosystems.
Deepening connections to other technology and investment ecosystems provides a springboard to propel our own startup ecosystem. By connecting with other ecosystems that are more mature than ours, we can expediate our growth and build on established frameworks that are generating tangible results in other markets. Furthermore, connecting our entrepreneurs and service providers to other ecosystems builds knowledge of pre-existing programs and niche pockets of resources and expertise available in other regions. This can accelerate a startup’s growth, ability to scale, and ability to find capital. Exposure to other markets also increases the likelihood that startups will find new customers, new markets, and additional investors beyond Alberta. For 2022/23, we added the sub-strategy of connecting to other Canadian ecosystems. As other jurisdictions in Canada continue to mature, we can learn a lot about what worked and
what didn’t when they were at a similar stage to Alberta. Additionally, these connections to ecosystems within and outside Canada support the need to facilitate better sharing of Alberta deal flow.