10 Years of Impact

Alberta Enterprise Corporation celebrates 10-years of building Alberta’s tech ecosystem under the guidance of a new board.

This year, Alberta Enterprise Corporation (AEC) celebrates 10-years of supporting the Alberta technology sector by building and fostering a strong Venture Capital (VC) presence in the province. AEC’s accomplishments are highlighted in the 10th Anniversary edition of its newly released Annual Report. 

Alberta Enterprise Corporation was created 10-years ago, to attract Venture Capital to Alberta and to invest in VC funds that invest in Alberta technology. Our model of investing in VC funds rather than directly subsidizing business (and picking winners and losers) is a best practices approach: one that is arms-length and market driven. It allows us to leverage private capital, which can then be accessed by private-sector Alberta-based technology companies.  All of this is achieved with relatively limited government involvement. 

This market-based funding model is critical to the growth, sustainability and success of a healthy, local technology sector. Today, Alberta is home to over 1,200 technology start-ups.

“When we started, there was a limited VC presence in this province. Over the years, AEC has invested in 17 VC funds, attracting over $494M of investment into 42 Alberta technology startups. More than 1,400 direct jobs have been created in the province as a result of these efforts,” said Kristina Williams, President and CEO of Alberta Enterprise.

A new Board of Directors has been appointed to build on the success achieved under the founding board, whose members had reached their mandated term limits. Paul G. Haggis, who has led the Board since its inception, remains on as the Chair to December 31st of this year.

Alice Reimer (Vice Chair), Jim Gibson, Neil Sadaranganey, Tracey Scarlett, Sharilee Fossum and Patricia Johnston join the AEC Board of Directors. Stepping down are founding directors Barry Heck, Geoffrey Brown, Vicky Sharp and Brad Zumwalt.

According to Paul Haggis, creating a strong VC presence is a process that takes time and patience. 

“Learning from Silicon Valley and other jurisdictions around the world, we know the first decade is absolutely vital to the creation of a self-sustaining technology sector – and in seeing a return on investment. The founding board played a central role in steering AEC through this important period.”  “The new board is starting from a very strong position. I look forward to seeing how Alberta Enterprise and our home-grown technology sector continues to grow under their vision and guidance,” Haggis said.

Read original article here.

Alberta Enterprise Corporation is Seeking a Fund Analyst

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We invest in venture capital (VC) funds that finance early stage technology companies in Alberta and beyond. As a member of the Investment Team, the Fund Analyst will support and contribute to managing and growing a portfolio of venture capital funds.

The ideal candidate will have an undergraduate degree in Finance or Business, complemented by a minimum of 3 years experience in a related field. Investment fund knowledge, including investment modelling or VC/PE experience is an asset. The position requires strong attention to detail, good problem solving and analytical skills, as well the ability to work effectively as part of a team.

This is a full-time position based in Edmonton, AB.

Applicants that meet the criteria are welcome to apply. Applications will be accepted until a suitable candidate is found. Only those selected for an interview will be contacted.

Please submit your cover letter and resume to info@alberta-enterprise.ca. To learn more about us visit our website or call 587-402-6601.

StartAlberta Partners with Crunchbase

Calgary, AB – A new strategic partnership between StartAlberta and San Francisco-based Crunchbase expands Alberta’s richest database for the startup community – giving Alberta entrepreneurs even greater exposure to national and international investors.

StartAlberta fills a void within the Alberta ecosystem, as a free and open-source central dealflow directory that external stakeholders, investors and entrepreneurs can use to connect with each other and identify investment opportunities. Crunchbase is North America’s leading platform for helping investment professionals discover innovative companies and connect with the people behind them. It does this by aggregating investor and founder data for both public and private companies in real time.

Under this partnership, StartAlberta’s database will be directly linked to Crunchbase – which reaches over 50 million professionals worldwide.

“By partnering with other data platforms, StartAlberta is making Alberta’s technology sector more visible beyond Alberta’s borders” says Rebecca Giffen, Executive Director of the Venture Capital Association of Alberta (VCAA).

“This new partnership allows StartAlberta to leverage the outstanding reputation and reach of Crunchbase, giving investors and founders who create profiles on StartAlberta unprecedented international exposure,” Giffen adds.

Kristina Williams, President and CEO of Alberta Enterprise Corporation, says StartAlberta fills an important need, and complements their own efforts to attract venture capital funds to the province.

“In any business, but particularly in the technology sector – which is reliant on capital to bring big ideas to fruition – a company’s success depends on its ability to make the right connections,” Williams explains.

StartAlberta’s platform also provides a critical forum for telling the story of Alberta’s entrepreneurial successes. This helps build the case for investing in the Alberta technology sector.

StartAlberta was developed in partnership with Alberta Enterprise Corporation, the A100 and other organizations that form the backbone of Alberta’s technology ecosystem. StartAlberta is a self-sustaining entity, operating under the stewardship of the VCAA.

In their Alberta Technology Competitiveness Report, Invest Alberta recently highlighted the value of StartAlberta as a single directory for investors – and mentioned it among their midterm recommendations.

According to Giffen, StartAlberta plans to continue pursuing data partnerships to further increase exposure of Alberta dealflow to investors, both nationally and internationally.

“Our goal is to make Alberta startups impossible to ignore,” Giffen says.

Editorial Contact:
+1 403 681-9893
rebecca@vcaa.ca

About Alberta Enterprise Corporation:
Alberta Enterprise Corporation promotes the development of Alberta’s venture capital industry by investing in venture capital funds that finance early-stage technology companies. We focus on funds that have a strong commitment to Alberta, including a full-time presence in the province. In addition to capital, we support Alberta’s venture capital ecosystem by connecting investors, entrepreneurs, and experienced technology executives who share our passion for building a bright, innovative Alberta.

Since our inception we have committed $184 million for investment to 17 VC funds, covering a diverse range of forward-looking industries including information technology, industrial technology, and life sciences. Our funds and their partners have invested more than $495 million into Alberta technology companies. 
alberta-enterprise.ca

About Crunchbase:
San Francisco-based Crunchbase is the leading platform for professionals to discover innovative companies, connect with the people behind them, and pursue new opportunities. Over 50 million professionals—including entrepreneurs, investors, market researchers, and salespeople—trust Crunchbase to inform their business decisions. And companies all over the world rely on Crunchbase to power their applications, making over a billion calls to our API each year.
crunchbase.com

Winner of the Fourth Annual Rod Charko Service Award

November 17, 2017 – Calgary, AB - John Pinsent is the winner of the fourth annual Venture Capital Association of Alberta (VCAA) Rod Charko Service Award.

John Pinsent, a Chartered Professional Accountant by trade, founded St. Arnaud Pinsent Steman (“SPS”) Chartered Professional Accountants in 2004 following a distinguished ten-year career with Ernst and Young LLP. Passionate about the technology sector, John made his first angel investment in 2005. A founding member of VA Angels, John has since invested in over 65 early-stage companies - primarily in the areas of ICT, medical devices, O and G enabling technologies and social media. John has a well-earned reputation for being a strong supporter of knowledge-based businesses. He is active in a number of ICT and biotechnology initiatives within the Province and serves on the board of Capital Road, is an A-100 member and serves as a lead mentor in the University of Alberta’s Venture Mentorship program. John is always prepared to use his Rolodex and his insights to assist organizations to improve their reach, revenues and relevance.

Alberta Enterprise Invests $10 million into Accelerate Fund II

Edmonton, AB - Alberta Enterprise Corporation announced today that it has launched a second early-stage angel co-investment fund, Accelerate Fund II, with a $10 million investment. Accelerate Fund II will provide local entrepreneurs with a great new resource for startup capital. Managed by Yaletown Partners, Accelerate Fund II will continue to have the A100 act as the operators of its industry committee. 

This new fund has been created to continue to build the Alberta innovation ecosystem by investing alongside angel investors in early-stage technology companies. It will also focus significant efforts on further development of the ecosystem. More details here.