Despite a rocky global market, 2022 was a strong one for Alberta startups and scale-ups, who raised more than $1.2 billion across over 150 funding rounds throughout the year, according to data released by the Canadian Venture Capital and Private Equity Association.
The high-momentum market of Alberta remains present in 2023, recent figures suggest.
Several companies were noted to have raised funding through December—such as IronSight—as well as January, including Summit Nanotech.
And this month has already seen action: Edmonton-headquartered Jobber raised US$100 million to support the company’s continued growth through investments in R&D, sales and marketing, and new customer acquisition.
We expect Alberta to continue this positive trajectory, especially in certain areas like cleantech.
That is because, even when local ecosystems—such as Calgary’s Artificial Intelligence cluster—are negatively impacted, the hub of innovation shows its resilience.
The region knows that where there is downturn, there can also be rebound.
“As our reputation for innovation grows, more companies … are recognizing the competitive advantage Calgary offers given our deep talent pool, our infrastructure, and the low cost of doing business,” Mayor Jyoti Gondek stated in October.
Regardless of the state of things, Calgary remains one of Canada’s hottest hubs for startups—and we know that many of them are still hiring despite tough times.
For a glimpse of where Alberta innovation is headed, check out Calgary.tech’s top 10 homegrown startups to watch this year.
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