Technology & Innovation
Shaping the Future of Industrial Advancement and Innovation
Alberta's urban centers are home to over 3,000 technology firms, driving the transformation of conventional sectors and spearheading emerging innovations.
Alberta is on track to invest over $20 billion in digital transformation (DX) from 2021 to 2024, demonstrating a projected annual growth rate of 13%.
Calgary boasts a continuous record-breaking streak in venture capital investments and is home to unicorns like Benevity and Parvus Therapeutics. Edmonton, recognized as North America's fastest-growing tech ecosystem, houses tech giants such as Apple and Microsoft, alongside innovative companies like Grengine and Jobber. These tech firms are thriving in Alberta's cost-effective office spaces, saving substantial amounts annually. With over 53,700 employees at the forefront of tech innovation, Alberta is driving the future of technology and new advancements.
Calgary is quickly evolving into a burgeoning tech hub, harnessing its tech proficiency to address global issues, especially within the established fintech and healthtech domains. The city offers highly cost-effective downtown office spaces compared to other major Canadian cities. Additionally, the University of Calgary's Institute for Quantum Science and Technology houses 15 research groups driving quantum technology advancements. Calgary-based companies are poised to take the lead in Alberta's $20 billion digital transformation investment between 2021 and 2024.
Alberta-based companies received $700 million in PE and $729 million in VC funds in 2022
"Alberta's tech sector is booming, with a fifth consecutive year of record-breaking venture capital investment in 2022. Four Calgary-based tech companies, including Benevity, Solium Capital (now Shareworks by Morgan Stanley), RS Energy Group (now Enverus Intelligence Research Inc.), and Parvus Therapeutics, have achieved unicorn status. Alberta is attracting global tech firms to expand their North American presence and invest in early-stage startups. The province's abundance of private equity firms and business-friendly policies make it a prime destination. To further fuel innovation, Alberta Innovates, Alberta Enterprise Corporation (AEC), and regional partners have launched Start Alberta, a program dedicated to scaling up businesses."
Edmonton plays a central role in Canada's advancement of artificial intelligence (AI) and machine learning, aligning with the Government of Canada's Pan-Canadian AI Strategy. Anchored by the Alberta Machine Intelligence Institute (Amii), which unites academics and entrepreneurs, Edmonton is rapidly emerging as a global AI hub, attracting talent and capital. Alberta's tech sector boasts a diverse and highly educated workforce, with 50% of startups having founders from visible minorities and 4% from Indigenous backgrounds. The University of Alberta has experienced an 86% increase in computer science program enrollment since 2015, and the region is moving towards gender parity in tech leadership, surpassing the global average by 35%. Edmonton's tech ecosystem thrives through its strong connection with academic and research institutions, including the nation's top computer science school and a world-leading AI institute, positioning it among Canada's top technology hubs. The region employs 35,400 tech workers, with a projected 1.5% annual job growth, and houses the National Research Council of Canada's Nanotechnology Research Centre and Health City, a nonprofit fostering collaboration between researchers, tech innovators, and entrepreneurs to drive new technologies.
Being Canada's most entrepreneurial province, Alberta bridges visionaries with the necessary funding to transform concepts into tangible achievements.
Alberta, renowned as the most entrepreneurial province in Canada, serves as a dynamic launchpad for visionary innovators. Facilitated by business-friendly policies, it fosters the transformation of innovative concepts into impactful realities. Notably, Alberta stands as the second-largest hub for private equity firms in the nation, with over $43 billion of private equity investments channeling into its companies since 2013. Moreover, it has garnered substantial venture capital investments of $2.6 billion within the same timeframe, driving forward its entrepreneurial landscape. Additionally, Alberta embraces diversity in entrepreneurship, exemplified by The51, a Calgary-based investment platform, which has contributed $16 million to combat gender disparity in venture capital. The province focuses on transformative sectors like cleantech, agri-tech, fintech, AI, and communications tech, underscoring its commitment to innovation and economic growth. Discover the myriad success stories that showcase Alberta's thriving entrepreneurial spirit.