Calgary climbs as Vancouver and Toronto fall

Welcome to this week's Sunday Briefing. In this issue, read about Calgary’s Startup Genome ranking, plus 14 other stories you may have missed. Plus, on Wednesday, we asked if you were headed to Collision Conference. Twenty per cent of you said yes, plus:

• “Work doesn't allow me”

• “This is the first time Variablegrid is attending and I am looking forward to seeing the Calgary tech scene there!”

• “It's a non revenue generating distraction”

Have a great day. We'll see you again on Wednesday.

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🗳️ Question of the Week

Calgary climbs as Vancouver and Toronto fall

Startup Genome’s annual ranking of startup ecosystems around the world was released last week, with Calgary climbing the list to break into the top 50.

Launched during London Tech Week, the 2024 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Network provides insights about startup trends around the world, ranking which global ecosystems are currently driving innovation.

The report defined ecosystem value as the measure of the economic impact of the system, calculated as the total exit valuation and startup valuations over a two-and-a-half year period.

“Not too long ago, Calgary wasn't on the map as a world-class destination for startups or a hub for innovation,” said Brad Parry, president and CEO, Calgary Economic Development, and CEO, Opportunity Calgary Investment Fund. “But with talent and investment flowing into Calgary, we have all the right pieces in place for our innovation economy to continue its pace as one of the fastest growing tech-hubs in the world and allow us to continue competing on the global stage.”

In addition to its global rank, Calgary’s startup ecosystem received recognition in North America as a Top 10 in North American Ecosystem in Affordable Talent, Top 25 Ecosystem in Bang for Buck, Top 30 Ecosystem in Funding and Top 30 Ecosystem in Performance.

🤝 Funding, Deals, and Partnerships

• Mercator.ai partnered with Austin AGC. From day one, Austin AGC and Mercator.ai have been driving towards the same goal: elevating building and construction excellence through unprecedented visibility into who's working with who, on what, so that members can build strong relationships and inspiring projects. Chloe Smith

• Blackline Safety secures $8.5M contract for connected safety technology. The contract represents the largest deal in Calgary firm’s history. Electronic Products & Technology

• National Bank to accelerate domestic growth with the acquisition of Canadian Western Bank. The transaction brings together two complementary banks with growing businesses, enabling the united bank to enhance services to customers by offering a comprehensive product and service platform at national scale, with a regionally focused service model. National Bank

• Zero Point Cryogenics secures $2.67 million to help cool quantum computers. The non-dilutive funding came from PrairiesCan and the City of Edmonton’s Edge Fund. Betakit

📰 Need To Know

• What is Calgary's economic action plan? The ambitious vision for Uplook; an action plan for Calgary’s economy, is to create Calgary as the place where bright minds and big ideas come together with an unmatched spirit to help solve global challenges. Calgary Economic Development

• U of A rises to sixth in the world for sustainability impact. University ranks first in North America in Times Higher Education’s ranking of institutions making progress on achieving UN Sustainable Development Goals. University of Alberta

• Scaffold: A “Game”- changing initiative to propel Alberta’s gaming industry to new heights. The initiative aims to double the number of small- and medium-sized businesses in the province’s gaming sector by fostering innovation and attracting investment for promising startups. Game Invest West

• Investment banker Stifel closes Calgary office, cuts about 35 staff. Stifel Financial Corp. is closing its office in Calgary and consolidating its operations across the rest of Canada, the U.S. investment bank said Wednesday, citing the need to cut costs. The Globe and Mail

• Ceremony celebrates success of early-stage innovators. This spring celebrated the success of 50 research teams who were looking to move their research-to-impact in the Evolve to Innovate (e2i) program. University of Calgary

• To win the battle against climate change, we need pre-emptive solutions like carbon capture. Energy- and carbon-intensive industries — including those in cement, steel, glass and chemical manufacturing — are vital, yet they account for about 70 per cent of the world’s industrial emissions. Calgary Herald

• Varcoe: Premier leaves door open to more Alberta incentives for carbon capture megaproject in oilsands. Danielle Smith said the government wants to ensure it continues to get the 'maximum value' out of the industry’s ongoing development in Alberta. Calgary Herald

• Inventures 2024 draws another successful event to a close. INVENTURE$ 2024 wrapped up with nearly 4,000 people from across the globe attending the three-day conference. Alberta Innovates

• How kinesiology duo's walks on campus led to an award-winning idea. Science is, after all, trial and error. University of Calgary

• mesh conference explores how to unlock the potential of humans and AI. The conference is proudly PowerPoint-free and characterized by intimate conversations that forego bland corporate-speak for real talk about what’s going on in tech and innovation — and what needs to change. Digital Journal