We are excited to publish the AEC 2023 Alberta Technology Deal Flow Study. The Study provides the leading benchmark for measuring the health, growth and composition of the Alberta technology and innovation sector.
Findings depict a growing ecosystem comprised of companies responsive to the changing times. 2,378 companies were identified as of the end of 2023, a 157% increase since 2012. 69% of surveyed companies developing a software solution, more than any year prior. And as Artificial intelligence (AI) and Machine Learning (ML) applications become household names, Alberta companies are developing these solutions into their product offerings at a rapid pace, shown by a significant increase in the number of companies integrating these technologies from 36% in 2021, to 46% in 2023.
For this year's study, we amended the inclusion criteria and sector classifications to more closely align with venture capital peers. The sectors now align with the Canadian Venture Capital & Private Equity Association (CVCA)'s, allowing easier comparison to the investment figures published in their quarterly Market Reports. Inclusion criteria are focused chiefly on companies whose primary income stream came from the sale of a novel product or service, and that required significant innovation though research and/or development efforts. The inclusion criteria aligns with Start Alberta, who's platform will be adding those identified in The Study, and will continue to track these companies along with newly created ones as time progresses.
The Study would not be possible without the support and contributions of hundreds of companies, founders, and organizations that make up the Alberta ecosystem.
A special thanks to #KPMGCalgary and Ian Macdonald, who worked tirelessly with AEC to produce this Study.
Find the Study here: https://lnkd.in/g-D-j_V
Thank you to our funds who contributed:
Accelerate Fund, Alpaca VC, Amplitude Ventures, Azure Capital Partners, Builders VC, Evok Innovations, Flying Fish Partners, Inovia Capital, McRock Capital, Panache Ventures, Relay Ventures, Sprout Fund, The51 Food and AgTech Fund, Yaletown Partners, PillarFour Capital Partners Inc.
And to the ecosystem organizations who helped:
Alberta IoT, Biohubx, Canadian Accelerator & Incubator Network - CAIN, Creative Destruction Lab, Canadian Venture Capital & Private Equity Association (CVCA), Venture Capital Association of Alberta (VCAA), Edmonton Unlimited, Platform Calgary, HaloHealth, Startup TNT, Technology Alberta, Thin Air Labs, + many more!
And to the hundreds of founders and companies who spent their precious time to respond to the Survey. Your input truly makes a difference in how AEC and others support #AlbertaTech.
