Page 31 - Demo

A highly connected ecosystem (connecting investors to entrepreneurs
and investors to investors) Cont’d
Greater access to relevant resources for tech companies
• The Venture Capital Association of Alberta (VCAA): Throughout 2022/23, Alberta Enterprise supported the hiring and onboarding of a new Executive Director of the VCAA. Fostering the relationship between AEC and VCAA has led to a significantly expanded membership base, events and program offerings, and a more connected VC community.
Key Performance Indicator: Total AEC fund commitments to date (# funds approved and legally closed)
Target: 3 approved and 2 or more legally closed in 2022/23
To measure this outcome AEC reviews a number of factors, including how many fund commitments we have made during the year. This measure has been discussed in previous sections.
During 2022/23 we have led and supported initiatives that created access to relevant resources for tech companies:
• OnRamp: AEC sponsored the launch of OnRamp, a bootcamp designed to give early-career marketing professionals the skills and confidence needed to not only land a career in tech, but excel at it. OnRamp has partnered with G2V, Spontivly, ZayZoon, Attabotics, Symend, Goodlawyer, Virtual Gurus and others to provide pre- vetted and trained marketing talent to support them in their growth. The first 18-week Bootcamp commenced in May and the cohort was sold out. The final projects were presented to a wide audience at the September 22nd event, where real-life learnings from in-market campaigns were shared. A status report will be sent to AEC in the coming months to review the quantity and quality of placements made into tech companies through the program. The second cohort is scheduled for Jan 2023.
• PROPEL Energy Tech Forum: AEC sponsored the PROPEL Energy Tech forum and had AEC’s VP of Investments moderating a panel on attracting Venture Capital, as well as AEC’s Director of Industry Development presenting on industry trends and insights during opening remarks. Propel brought together 50+ companies to learn from industry experts on how to sell into corporates, raise capital, and grow business in international markets.
• Inventure$ Master Mentors: AEC’s Director of Industry Development participated on the planning committee for Master Mentors, which connects promising Alberta startups with investor mentors. The companies are primarily early-stage, many
of which plan to start their fundraising journeys in the coming months. The aim of the program is to provide constructive feedback and guidance from some of the provinces leading institutional investors. AEC’s Director of Industry Development also supported in registering many VC’s as mentors and assisted with the matching process to ensure entrepreneurs got the support they needed.
• Innovation Rodeo: AEC sponsored Innovation Rodeo, hosted by 150 Startups through Bow Valley College. This year’s theme was Crossing the Chasm. The chasm exists because after successfully selling a product to innovators and early adopters, many companies struggle with the next stage of growth – taking the product to the early majority portion of the market. The book, Crossing the Chasm by Geoffrey A. Moore is often referred to as the “bible” for startup founders, thus the speakers and topic were very aligned with Alberta’s early-stage ecosystem.
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