An Innovation Capital Working Group will develop options on how to attract new investment in Alberta’s early-stage technology companies.
The new working group includes representatives from key areas of Alberta’s tech, business, academic and financial communities. These experts will provide government with advice on how to incentivize private capital investment in the province’s tech and innovation ecosystems.
“I’m excited to hear the findings of this working group. The tech and innovation ecosystem is vital to Alberta’s economy both now and in the future, and we are going to find the best way to support them.”Tanya Fir, Minister of Economic Development, Trade and Tourism
The committee will examine the best practices of various industries across North America. The committee will also explore the value of flow-through technology – or innovation shares – as recommended by numerous tech-sector stakeholders in Alberta.
“It is critical that innovation and technology be at the forefront of Alberta’s economy. We have long been an innovative province, and finding new ways to support innovation in our economy, possibly by flow-through technology or innovation shares, will ensure that Alberta continues to be a world leader in the technology sector and is positioned to take advantage of all of the opportunities that provides across the economy.”Joseph Doucet, co-chair, Innovation Capital Working Group
“Alberta is one of the most innovative places on the planet – we have incredible innovative history behind us, and many more innovative chapters ahead of us. The work of the ICWG is vital in ensuring that Alberta can remain a highly competitive and attractive place in which to be innovative, launch innovation-based companies, and invest capital for innovation potential. I look forward to working with my fellow ICWG members to present the Government of Alberta with bold and compelling recommendations.”Adam Legge, co-chair, Innovation Capital Working Group
The committee is expected to submit a final report to government by Feb. 28, 2020.
- Joseph Doucet, dean, Alberta School of Business (co-chair)
- Adam Legge, president, Business Council of Alberta (co-chair)
- Susan Anderson, president and CEO, Cannonball Capital Inc.
- Derrick Hunter, president and CEO, Bluesky Equities Ltd.
- Cory Janssen, co-founder and CEO, AltaML
- Kristina Milke, co-founder, Valhalla Private Capital
- David Vankka, partner, managing director and portfolio manager, ICM Asset Management
- The committee’s $50,000 budget will cover travel costs, external advisers, stakeholder consultations and other expenses.
- Committee members will be reimbursed for eligible expenses in accordance with the Travel, Meal and Hospitality Expenses Directive.