🗳️ Question of the Week

Alberta Enterprise Corporation pours $15 million into its fourth Accelerate Fund

The week started with positive news for Alberta’s startup ecosystem, as Alberta Enterprise Corporation (AEC) announced a fourth early-stage angel co-investment fund, Accelerate Fund IV, with a $15 million anchor investment.

The fund, set to be managed by Yaletown Partners, will provide Alberta tech entrepreneurs focused in life sciences, digital transformation, and artificial intelligence and other emerging opportunities with a continued source of startup capital.

"As an anchor investor in the Accelerate Fund since 2012, AEC has supported investment in 46 Alberta-based technology companies, helping those teams to grow their business from the pre-seed or seed stage to the next critical milestone or stage of investment," said Kristina Williams, CEO of Alberta Enterprise Corporation. "The Accelerate Fund has been fundamentally important to the Alberta tech ecosystem, increasing the odds of startup success, fostering job creation and helping to mature the venture capital landscape in our province."

The Accelerate Fund series was established by AEC to encourage more private capital investment into Alberta's emerging technology sector. For startups to access Accelerate Fund investment, private angel investors need to be willing to invest equal or greater amounts into the investment round.

🤝 Funding, Deals, and Partnerships

• World’s largest AI data centre industrial park ‘Wonder Valley’ coming to the Greenview Industrial Gateway. Wonder Valley, which will be rolled out in multiple phases, marks the creation of an entirely new industry sector for the region and country. Municipal District of Greenview

• OCIF invests in SAIT Aerospace Materials Composite Lab to increase Calgary’s aerospace capabilities. This funding is expected to amplify Calgary’s position as a key player in Canada’s aerospace ecosystem, while filling critical skills gaps in the city’s workforce. Calgary Economic Development

• OCIF funds TECHNATION to strengthen Calgary's tech talent pipeline. The funding will help students gain hands-on experience in vital tech roles, strengthening Calgary's talent pipeline and diversifying its economy. Opportunity Calgary Investment Fund

📰 Need To Know

• Calgary's unemployment rate is trending higher than Canada's — but it's not because of layoffs. Since about 2022, people have been moving to the city faster than they can find jobs. CBC News

• Calgary’s bold vision: Becoming Canada’s innovation capital. The city has made significant strides in cultivating talent for emerging industries and positioning itself as a competitive innovation hub. Digital Journal

• UCalgary professor works to bridge gap between research and startups as a mentor. Dr. Adam Pidlisecky earns Associate of the Year for helping academics find entrepreneurial success. University of Calgary

• Exro's Cellex division completes installation of first Cell Driver Energy Storage System at Red Deer Polytechnic. The project is intended to demonstrate how clean energy technologies can be incorporated into existing commercial buildings. Exro Technologies

• Alberta releases new rules and no-go zones on wind and solar projects. Wind projects will no longer be allowed within specific 'buffer zones,' province says. CBC News