Alberta Innovates announces permanent CEO amidst planned budget cuts

CEO shakeups, budget cuts, and clean energy is back in the spotlight.

TOGETHER WITH

FLOAT FINANCIAL

Welcome to this week's Sunday Briefing. In this edition:

  • An RFP from Calgary Economic Development

  • CVCA CEO announces her departure

  • Alberta Innovates announces its permanent CEO amidst budget cuts

Have a great day. We'll see you again next week.

P.S. Did someone forward you this email? You can subscribe right here. And for real-time updates, follow us on Twitter and LinkedIn.  

Photo: Unsplash

Calgary’s Ayrton Energy wins big at Alberta Cleantech Awards

Calgary-based startup Ayrton Energy is turning heads in the clean energy world. The women-led company was named Startup Venture of the Year at the Alberta Cleantech Awards, held this week at the Inventures 2025 Conference in Calgary.

Hosted by Foresight Canada, the annual event celebrates some of Alberta’s most promising cleantech innovators, funders, adopters, and supporters—those helping drive a shift towards a low-emissions, future-ready economy.

Founded in 2021, Ayrton Energy has developed a liquid organic hydrogen carrier system. In simple terms, it allows hydrogen to be stored and moved around using existing infrastructure and mirroring diesel logistics—making clean hydrogen much easier to adopt at scale. It’s a step forward in making hydrogen practical, safe, and scalable.

SPONSORED BY FLOAT FINANCIAL

FLOAT FINANCIAL

Business finance as it should be.

Float is Canada's only all-in-one business finance platform, combining modern financial services and software to help businesses spend, save and grow.

Businesses across the country are embracing a “buy local” approach to Canadian tech, Float offers a home-grown solution for corporate cards, automated expense management, next-day bill payments and 4% interest to help take your business to .

Join more than four thousand companies that trust Float for better financial control. Switch today.

🤝 Funding, Deals, and Partnerships

  • Alberta commits $15M over 3 years to Mitacs. The provincial funding, alongside funding from the federal government and industry, is expected to enable the program to take on 3,000 students. CTV News

  • Big investment from Calgary’s F3 Networks fuels fibre-optic expansion in Red Deer. Fuelled by a “historic” $168 million investment from F3, the project is set to utilize more than 400 kilometres of fibre optic cable to deliver reliable, high-speed internet to residents of Red Deer, according to a statement from the Canadian companies. Calgary.Tech

Want to reach Calgary tech leaders? Advertise in the Calgary Tech Journal to get in front of founders, investors, and innovators. Contact [email protected] to learn more.

📰 Need To Know

  • Government cutting Alberta Innovates budget, setting new direction. Entrepreneurs say they need certainty and clarity about the agency's focus. CBC News

  • Dr. Mike Mahon named permanent CEO of Alberta Innovates. The move formalizes Mahon’s position after serving as interim CEO since July 2024. Calgary.Tech

  • CVCA CEO Kim Furlong to step down after Invest Canada conference. Furlong to depart association in July as Canadian VC navigates ongoing identity crisis. Betakit

  • Request for proposals: Global markets platform. Calgary Economic Development is seeking a partner to develop a digital, cloud-based Global Markets Platform Minimum Viable Product that will leverage advanced analytics, market profiling and foresight methodologies to identify and evaluate current and emerging investment opportunities globally. Calgary Economic Development

  • Calgary’s HooperIQ joins elite Future of Sport lab cohort. Founded by pro basketball player Marek Klassen, HooperIQ is the first AI-powered basketball IQ training platform, designed to help athletes improve decision-making through personalized quizzes, film breakdowns, and automated game analysis. Calgary.Tech

  • Calgary firm eyes $10B AI data centre building blitz. Beacon AI Centers has also installed Josh Schertzer, a former Blackstone executive, as its new CEO as it looks to cash in on the AI ‘arms race.’ The Logic

  • Network Innovations launches Argus. The software-defined platform transforms how organizations deploy, secure, and scale communications across terrestrial, wireless, and satellite environments. Network Innovations

  • Calgary emerges as Canada’s fastest-growing startup ecosystem in 2025. According to the latest Global Startup Ecosystem Index by StartupBlink, the city climbed 15 spots to rank 92nd worldwide—marking the largest jump among Canada’s top 10 ecosystems. Calgary.Tech

SPONSORED BY WEWORK

WEWORK

See how the workplace is changing.

Whether you're an established enterprise or a scaling startup, find a coworking space that's right for you. Flexible workspaces can unlock value for both employees and your bottom line—regardless of your company size. Wework is designed to enhance the employee experience and help people do their best work. Connect with a WeWork expert today.

💡 Opportunities

  • The C100’s programs connect high-potential founders and executives to a global network of seasoned entrepreneurs, operators, and investors. Over the course of a year, participants gain the insights, mentorship, and connections needed to scale faster and smarter.

What did you think of today's newsletter?

Login or Subscribe to participate in polls.