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Welcome to this week's Sunday Briefing. In this edition:
Top VC growth in Canada
Program cuts loom at Alberta Innovates
Canadian VCs are getting a “wake-up call”
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Calgary rises in global tech rankings
Calgary has emerged as a standout player in the global tech landscape, earning top marks in Dealroom’s inaugural Global Tech Ecosystem Index. The city ranked first in Canada for venture capital growth rate and landed in three global categories: 78th in the “champions” category for producing companies valued at over $1 billion; 79th in “density leaders” for innovation per capita, and 130th in “rising stars” for rapid growth.
The report, which evaluated 288 cities worldwide on startup activity, investment, talent, and intellectual property, also highlighted Alberta’s broader rise as a tech powerhouse. Edmonton, Calgary’s provincial counterpart, received recognition for its research-driven ecosystem, ranking third in Canada for patent density and placing in global categories for innovation and growth. Together, the two cities reflect a maturing provincial tech ecosystem with complementary strengths.
Alberta’s five-year compound annual growth rate of 48.5% in venture capital investment—more than triple the national average, according to the Canadian Venture Capital and Private Equity Association—is likely a driving force behind provincial progress. Local leaders say the rankings reflect years of groundwork laid by founders, investors, and ecosystem builders. As Tamara Woolgar of the A100 put it, “Alberta is proving that bold, scalable innovation is happening here, and the world is taking notice.”
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🤝 Funding, Deals, and Partnerships
“Both strategic and patriotic”: Wealthsimple selects Tetra Trust as its first Canadian digital asset custodian. Calgary’s Tetra Trust has seen an uptick in businesses seeking to reduce their exposure to the US. Betakit
Foes on the ice, not in the oilpatch: Danes, Canadians to collab on carbon capture. Alberta Innovates has signed a memorandum of understanding with Denmark's Ministry of Climate, Energy and Utilities, committing to work together to develop carbon capture, utilization and storage. CBC News
Calgary agtech startup harvests seed capital from SVG Venture’s Pioneer Fund. Brilliant Harvest has secured $500K in funding from SVG Ventures’ Pioneer Fund as part of the THRIVES accelerator, adding momentum to its mission of transforming agricultural operations through AI-powered tools than enhance, not replace, dealer teams. 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
Alberta Innovates will have to end, amalgamate some programs, CEO says. CEO Mike Mahon said the company, which offers funding, services and expertise to boost research and innovation, will have to consolidate and eliminate some of its work. CBC News
Alberta cities rank among global leaders in Dealroom’s tech ecosystem index. Alberta’s innovation economy is gaining global recognition, with both Calgary and Edmonton earning strong rankings in Dealroom’s first-ever Global Tech Ecosystem Index. Start Alberta
Alberta policies have dampened investor confidence in renewables: report. Temporary moratorium imposed on new wind and solar projects in 2023. CBC News
Calgary says it has the makings of an innovation capital. What’s the next step? Long known for its deep ties to the oil and gas industry, Calgary has seen a boom in verticals such as FinTech, healthtech, and aerospace. Betakit
How one company plans to suck carbon right out of the air (and make money doing it). Deep Sky says carbon removal is necessary tech in a warming world, but analysts say cost a barrier. CBC News
No more excuses: Vaynerchuk shreds Canadian startup myths. Gary Vaynerchuk didn’t come to Calgary to coddle Canadian entrepreneurs. Calgary.Tech
Canadian VCs arrive at annual industry gathering in need of a “wake-up call.” Venture leaders publicly grapple with weak performance and uncertain future ahead of CVCA Invest Canada conference. Betakit
CED and OCIF welcome new Board Directors to drive next chapter of growth. Last year, CED created or retained almost 7,500 jobs and attracted more than $719 million in investment. Calgary Economic Development
It’s time for Canada to buy Canadian: Avanti CEO calls for procurement reform to fuel innovation in Canada. Despite generous funding, government entities continue to procure foreign software, breaking the cycle of domestic investment and reinvestment. Avanti Software
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💡 Opportunities
C100 Fellows and Growth Programs | June 15
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.