Opportunity Knocks [And Alberta Listens]

Innovate Calgary answers the call for energy technology innovation.

Calgary is a hotbed of entrepreneurial spirit and success. The city leads the world in housing 123 and in international energy company headquarters. It is at the center of over $20 billion of international capital being invested into energy companies, which accounts for one in every 13 jobs within the energy sector. A new opportunity is emerging as our thriving industry continues to face rising gas prices, outdated practices, and evolving regulatory and environmental standards.

As the saying goes, “We can’t solve problems by using the same thinking we used when we created them.” Innovative technology is needed, not only in Alberta but worldwide. New reserves need to be unlocked, and it is paramount that we look for efficient ways to extract, operate, and champion environmental practices through innovation. The energy sector is open for business and is looking to the tech ecosystem for solutions.

Innovations that address market needs are becoming increasingly attractive as industry looks to establish competitive advantages, improve efficiencies, and
minimize environmental impact. The tech ecosystem needs to hear the call, as it holds a critical role in supporting the future of the energy sector. Innovate Calgary wants to lead the hunt by working with the tech sector to answer the energy sector’s needs for innovation that leverage the industry.

“The opportunity is here in Alberta, and the time is now,” explains Alex Raczenko, Entrepreneur-in-Residence at Innovate Calgary. “The resources, financing, and expertise are here. We have to galvanize the entrepreneurial community to help us be a leader in innovation for the energy sector and a leader at targeting innovation by harnessing the wealth of ability that already exists in this province.”

With a grassroots movement, Alberta is poised to lead the way with new ideas, new partnerships, strong collaboration, and the commercialization of technology to meet growing demand.

The environment from which we extract resources is reliant on the energy sector to treat it well. Innovations in this area benefit not only the well-being of the environment, but it allows us to maintain the ability to continue to utilize these resources responsibly. This is an area of focus from the energy sector, and one in which big differences can be made through support from the tech ecosystem.

If we bring all parties to the table and cultivate new ideas for existing problems, the opportunity for the energy sector is endless. New efficiencies, social responsibility, innovative ideas, and collaboration will propel Alberta into a leading role in innovation and will continue to develop the economy. This is a call to action for our community to join together and change the future of the energy sector.