Calgary: Opening Doors To Energy Technology

Part 2: Leveraging Our Resources

In part one of this series we set the stage for Calgary as to why it can, and should, be the global centre for innovation in energy technology. This piece, Part Two, examines the existing resources that are accelerating this industry and solidifying that critical mass of players that are driving innovation and growth of energy technology companies in Calgary.

Education Leads The Way

Entrepreneurship is the new job of choice and new programs and institutes for entrepreneurship are taking strong hold in the city. The University of Calgary’s new “Hunter Centre for Entrepreneurship and Innovation” within the Haskayne School of Business is barely a year old and is already making strides. In January of this year the Hunter Centre, in partnership with Innovate Calgary, launched the inaugural Energy New Venture competition at the Propel Energy Tech forum with a focus on up-and-coming energy sector entrepreneurs at the early stage, or research stage, of development. Entries came in from across Canada and the top three billings walked away with $50,000 in cash and in-kind prizes.

Mount Royal University’s “Institute for Innovation and Entrepreneurship” focuses on teaching students to create new ventures and build dynamic communities. Add to this the Southern Alberta Institute of Technology’s (SAIT) Advanced Research and Innovation Services in the areas of Green Building Technologies, Alternative/Renewable Fuels, Environmental Technologies, Information and Communications Technologies, and the stage is set for a robust foundation for anyone to get the practical industry skills, knowledge, and training to create their own opportunities.

Industry At The Table

In 2012, recognising “Alberta’s position as a global energy leader, along with its entrepreneurial success and commitment to research and innovation…”, GE decided to locate their North American Innovation Centre in Calgary, the first of its kind in North America. Focused on commercial discovery and collaboration, the Centre leverages GE’s global expertise to tackle challenges across the energy, healthcare, and transportation and finance sectors.

The Climate Change and Emissions Management Corporation (CCEMC), established in April 2007, provides funding for projects that reduce GHG emissions or improve our ability to adapt to climate change. It recently put out a call for expression of interests for projects involved in energy efficiency and conservation, carbon capture and storage, or cleaner energy production and utilisation.

Additionally, in March 2012, an alliance of oil sands producers established Canada’s Oil Sands Innovation Alliance (COSIA), focused on accelerating the pace of improvement in environmental performance in the oil sands through collaborative action and innovation. COSIA works to provide technical support, experience, expertise, and financial commitments to drive innovation in key areas and partners with other industry organisations such as Alberta Innovate to achieve its targets.

Together With Government

The Canadian Federal Government has recently implemented several programs designed to drive growth in the creation of new Canadian companies. Western Economic Diversification Canada recently launched the Western Innovation Initiative, a $100 million five-year program to provide financial support to entrepreneurs based in Western Canada so that they can bring their ideas from the work bench into the marketplace.

Another new program is the federal Start-up Visa Program – the first of its kind in the world – which permits entrepreneurs with a business venture or idea to apply for fast-tracked permanent residency in order to continue the development of their business in Canada. While still in its relative infancy, we see great promise in the opportunities it will create. Innovate Calgary has been tapped as one of only five designated organisations in the country to execute on this new initiative.

It Takes Money

Underpinning these and other existing resources is a successful and concentrated financial ecosystem. Calgary is cash rich and has a well-developed financial eco-system – with the highest concentration of millionaires per capita in Canada – and has access to established angel networks in Alberta Deal Generator and Venture Alberta. The city also has an increasingly tech-focused venture capital and private equity scene which has been spurred, in part, by Alberta Enterprise Corporation’s (AEC) investment of $100 Million in technology focused funds.

Driving growth and innovation in our new energy economy is not an easy task. It takes collaboration, coordinated efforts, and a clear vision to get there. What we’re seeing now in Calgary is a good deal of collaboration with industry players coordinating their skills, expertise, and resources to provide access to a growing ecosystem for would-be energy technology entrepreneurs. The vision, while not quite yet there, is on its way.

In Part Three of this series, we look at energy technology companies that have taken advantage of some of the existing resources to drive their growth and gain market traction.