“The release of the Canadian Venture Capital and Private Equity Association’s annual report affirms what we have been saying for months: 2020 was a record-shattering year for venture capital in Alberta, most notably in Edmonton and Calgary.
“We have seen huge momentum building in the tech and innovation space here in our province. While Canada’s venture capital investment was down 29 per cent last year, Alberta’s doubled with $455,000,000 in deals. Announcements of Symend, Neo Financial and Jobber raising record amounts of money help drive innovation, grow our tech sector and, most importantly, get Albertans back to work.
“Albertans are tenacious, and they are working hard alongside us to make sure our province rebounds from this pandemic stronger than ever. Both 2019 and 2020 were record years for venture capital, with 2020 far outpacing the previous year.
“Alberta Enterprise Corporation (AEC) played a critical role in 53 per cent of the venture capital investments made in 2020. Alberta has shown that we are here to compete in the tech space. Recent news from companies like Infosys and mCloud bringing their operations to Calgary means technology innovators are noticing that Alberta is an up-and-comer to watch on the world stage.
“With two incredible years for our province’s tech sector, the government’s recapitalization of AEC and new policies that encourage innovation and investment, there are some much-needed signs of hope for Alberta. Alberta has built a solid foundation to ensure 2021 will be yet another historic year for this sector and a turning point for diversification and growth in our province’s economy.”