TLDR:

• Alberta’s tech ecosystem is growing rapidly and attracting significant investment.
• The province has a strong focus on AI and is emerging as a global player in the tech industry.

Ecosystem Spotlight: Alberta tech is striking gold is an article that highlights the rapid growth and development of Alberta’s tech ecosystem. The province, once known primarily for its oil and gas industry, is now home to more than 3,000 tech companies and has attracted a significant influx of investment from both local and global sources. Joe Timlin, Managing Director at CIBC Innovation Banking, notes that Alberta has been posting consistently strong results in terms of deal-making, with companies raising a total of $707 million across 86 deals in 2023.

One of the key areas of focus for Alberta’s tech industry is artificial intelligence (AI). The province has been quietly honing its expertise in AI, with institutions like the University of Alberta and the Alberta Machine Intelligence Institute driving world-class research and innovation in the field. Startups in Alberta, such as GeologicAI and PayShepherd, have been actively leveraging AI technology to close deals and drive growth.

Despite the challenges of a relatively young ecosystem, Alberta is attracting top talent and investment, positioning itself as an emerging market in the global tech arena. With events like the Banff Venture Forum and the Venture Capital Association of Alberta’s Ski Conference fostering collaboration and innovation, Alberta is poised for continued growth and success in the tech industry.