“It’s an exciting time to be in Alberta. Venture capital investment in the province continues to skyrocket as companies of all sizes push the limits of what is possible, bolstering our reputation as a world leader in technology and innovation.
“During the third quarter of 2022, Alberta’s tech sector contributed to what is gearing up to be the largest expansion in our province’s history. For the third year in a row, Alberta is on-pace to shatter our venture capital investment record with 75 deals done worth $509 million so far this year after a total of $561 million in the entire year before.
“Two major deals have already been announced in the early days of the fourth quarter, solidifying another record year for dollars invested. Calgary-based software startup Symend has cut a deal for $54 million to pursue a global expansion. Another Calgary company, 3D robotic supply chain firm Attabotics, has secured $95 million to scale up its operations.
“The growth we are seeing in our province is evidence of a maturing and resilient tech sector. It is also testament to the Alberta government’s efforts to position the province as an internationally recognized hub that develops and attracts talent, business, and job-creating investment to grow technology and innovation and diversify the economy.
“During the first nine months of the year, Alberta captured 7.1 per cent of the venture capital dollars invested across Canada and a record-breaking 14.1 per cent of the deals. In fact, while Alberta saw venture capital investment increase by 6 per cent and deals by 23 per cent from the same period last year, the rest of the country declined 39 per cent and 8.5 per cent, respectively.
“Alberta’s young but mighty tech ecosystem is fostering incredible early-stage development. I look forward to seeing this momentum continue as we round out the final quarter of 2022.”