Alberta's energy talent turns to tech

Welcome to this week's Sunday Briefing. In this issue, read about outcomes from the Alberta Scaleup and Growth Accelerator program, plus 10 other stories you've probably missed. Have a great day. We'll see you again Wednesday.

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Alberta Innovates says portfolio companies have raised nearly $150M in venture capital

Alberta Innovates has shared data on the potential success of the first two years of the Alberta Scaleup and Growth Accelerator program (Scaleup GAP). The government-funded agency says its accelerator services are making an impact, helping Alberta startups grow and succeed.

A total of 169 Alberta companies have received services from one of the two pre-accelerators, preparing them to progress to the global acceleration services. Sixty-five Alberta companies have graduated from one of the four global accelerators.

Alberta companies have started to create economic impact, including:

• $147.5 million investment raised

• 118 new jobs created

• $12.4 million in company revenue growth created

• 111 non-Alberta companies have been introduced to the province from around the world, leading to six of those companies registering their businesses in Alberta after completing one of the accelerator programs.

🗳️ Question of the Week

🤝 Funding, Deals + Partnerships

• Leap Event Technology acquires Epic Photo Ops. Founded in Calgary, Epic's experiential e-commerce platform enables event organizers to create, manage, and facilitate once-in-a-lifetime experiences within their events from one centralized vendor. Leap Event Technology

• Graphite Ventures secures $10 million from AEC to continue Alberta commitment. The Toronto-based VC firm recently invested in the Calgary startup WaitWell. Betakit

📰 Need To Know

• Why Alberta oil and gas workers are pivoting to tech jobs. IT worker recruitment is highly competitive, local tech founders say. CBC News

• Edge Up grads fill in-demand tech talent roles in Calgary. The program supports displaced talent from the energy sector pivot to in-demand tech careers. Calgary Economic Development

• Maia Farms powers brains, bodies and planets with plant-based protein. CDL-Rockies, housed at Haskayne School of Business, provides startups like Maia Farms the support they need to grow. University of Calgary

• Alberta Utilities Commission green-lights GIP co-gen facility for Future Energy Park. The cogeneration plant will provide high efficiency steam and electricity to the biofuels facility as part of its integrated operations philosophy. Canadian Biomass Magazine

• Research to Social Innovation celebrates a new graduating cohort. A new group of powerhouse social innovators tackle a wide variety of problems and drive change. Innovate Calgary

• UCalgary researchers make strides toward quantum sensing technology. The algorithm could be useful for biomedical imaging and sensing, clinical applications, and materials science. University of Calgary

• Calgary's tech industry is BOOMING, and it just keeps growing. If you’re living in Calgary and considering a career change, you might want to turn your sights to the tech industry. Daily Hive

💡 POV: Ideas and Insights

• Erik Westblom, co-founder and CEO of Provision, digs into founder stress, motivation, and the bottom line on the latest episode of Thin Air Labs.

• Dr. Raynie Wood, Dean of SAIT’s School of Advanced Digital Technology, discusses tech layoffs on SAIT’s Careers Podcast.

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