Alberta is increasingly recognized by global investors as a launchpad for technology-driven businesses, says a report from the Alberta Clean Technology Industry Alliance.
Alberta can win the race for the US$3.8-trillion clean-tech market by meeting growing needs for energy, food and other resources at lower cost, and with less emissions and waste, says the report.
According to the report, Alberta’s sector is attracting global attention, with Calgary rated one of the world’s top 15 clean-tech ecosystems in 2019 by San Francisco’s Startup Genome.
“Alberta’s clean technology ecosystem has improved materially since 2016. Four of five innovators are optimistic about the coming year and nine in 10 plan to bring on additional staff in 2019-20. In short, the bets on clean technology are starting to pay off for this province,” said Jason Switzer, executive director of Alberta Clean Technology Industry Alliance.
“Alberta may be at the forefront of applying the next wave of Clean Technology innovations to oil and gas. We are home to a new crop of businesses that are emerging that are working to clean up the fossil fuel and natural resources business,” from the foreword to the report by Peter Tertzakian and Jackie Forrest of ARC Energy Research Institute.
The report highlights the province’s emerging strengths in delivering innovation in oil and gas, electricity and food and agriculture, improving the competitiveness of Alberta’s leading economic sectors and companies while exporting solutions to the world. It calls on governments at all levels to sustain their commitment to clean technology in order to reap the rewards from prior investment.
The report said:
- Nearly two-thirds of the province’s clean-tech ventures develop solutions for oil, gas and mining; one in three for power and utilities; and one in five for agriculture and food processing.
- Over one in three Alberta clean-tech ventures has a female founder, whereas female participation in tech startups is about 13 per cent nationally.
- Alberta has the highest concentration of professional engineers per capita in North America at 8.8 per 1,000 residents, nearly double the Canadian average. By comparison, Michigan, which tops the U.S., has only six engineers per 1,000 people.
- Alberta has over 200 clean-tech ventures, among the highest density of such ventures per capita and per dollar of gross domestic product in the world, on par with Sweden and well ahead of the U.S. and U.K.