Topping off a week of federal investment in Alberta

Welcome to this week's Sunday Briefing. In this issue, find out about funding for quantum innovation, the city’s top 10 startups, and a massive USD $130 million investment into a Calgary company. Plus, read seven other stories you might’ve missed.

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🗳️ Question of the Week

Topping off a week of federal investment in Alberta

It looks to be investment season for the federal government, with the legislative body releasing three big funding announcements in the last week and a half.

In addition to investments in quantum technology and emissions reduction (see below), last week the Government of Canada announced $13 million in funding through Prairies Economic Development Canada (PrairiesCan).

“Calgary has become a hothouse for innovation, attracting talent and generating sustainable jobs,” said George Chahal, Member of Parliament for Calgary Skyview. “Today’s announcement reinforces our city’s reputation for having Canada’s most dynamic small- and medium-sized technology firms, while positioning Alberta as the place to watch for technological advancements that make life better for all Canadians.”

Eight Calgary and Alberta-region companies will receive funding to help scale their businesses, access new markets, and create job opportunities:

• Aligned Outcomes

• Avanti Software

• Global Analyzer Systems

• Morweb

• PK Sound

• Surface Medical

• Tektelic

• WaitWell

According to PrairiesCan, the funding — delivered through the agency’s Business Scale-up and Productivity program and the Jobs and Growth Fund — is expected to support 180 roles.

🤝 Funding, Deals, and Partnerships

• AtVenu secured USD $130 million to fuel expansion into new live events markets. The Calgary and California-based business has closed the huge sum in equity financing from San Francisco-based Sixth Street Growth. Betakit

• Accelerate Fund III invested in Wyvern to fuel growth in commercial space imaging. The investment will enable the company to expand its market presence in the U.S and globally. Accelerate Fund

• ConocoPhillips Canada invested $1.5M in NAIT-led forest reclamation applied research. The funding will support the ongoing efforts of researchers at NAIT’s Centre for Boreal Research investigating improved methods for boreal forest reclamation following industrial activities such as oil and gas development. NAIT

• The Government of Canada announced funding for Emissions Reduction Alberta through the Green Industrial Facilities and Manufacturing Program. The $40 million in funding will help to develop and manage a province-wide program for industry to become more cost- and energy-efficient. Government of Canada

• OCIF Express announced it will fuel Calgary’s SMEs to bridge talent gaps and foster workforce growth. The new funding program aims to fast-track the allocation of resources by providing a streamlined process for Calgary-based businesses to address targeted needs in the city’s economy. Calgary Economic Development

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📰 Need To Know

• Calgary’s top 10 startups were revealed ahead of Innovation Week 2024. Calgary’s rise as a tech hub is not just a local phenomenon — it’s part of a broader trend driving Western Canada’s tech growth. Digital Journal

• qConnect 2024 united global innovators as Alberta’s quantum tech received $8.4M investment. The funding will support key projects, including $4.1 million for the University of Calgary's Quantum City initiative to develop cutting-edge facilities like Quantum City’s planned qHub and qLab spaces. University of Calgary

💡Ideas & Insights

• She started a business with $300 after getting laid off. It made $300,000 in year 1 and became a multimillion-dollar company. Calgary entrepreneur Bobbie Racette wanted to revamp the virtual assistance space — and provide job opportunities for underrepresented communities at the same time. Entrepreneur