Canada

Edmonton

MEMBERS:
Innovate Edmonton

The world needs what Edmonton offers: a passionate and vibrant innovation ecosystem committed to the principles of equity, diversity and inclusion, aimed at solving some of the world’s biggest challenges - climate emergency, public health, digital education and inclusion, food security and social and cultural innovation.

Catherine Warren
Innovate Edmonton CEO
#3 North American Ecosystem: Affordable Talent

Highlights

With its educated population, high quality of life, and low cost of living, Edmonton is a magnet both to young tech talent and startups eager to hire them. The local innovation ecosystem is anchored by the University of Alberta, which is well known globally for its particular excellence in the field of AI and machine learning, as well as more than 20 startup support organizations and incubators. Innovate Edmonton acts as a community hub, connecting innovators with the skills, space, and advice they need to start and grow their businesses. Part of a global network of cities under the Techstars umbrella, Edmonton Startup Week brings together the city’s entrepreneurs and business leaders for a 5-day celebration of big dreams and fresh ideas. ATB Entrepreneur Center offers entrepreneurs advice and banking solutions, as well as connecting them with necessary expertise. Local accelerators and incubators include the ATB X Accelerator, NAIT, Northern Alberta Business Incubator, and Innovate Edmonton, which offers CA$ 1.5 million in funding from the provincial government to help startups navigate the innovation system. The Alberta LeanStack Accelerator Program is a 4-month program created by Alberta Innovates in partnership with LeanStack founder Ash Maurya. Recent ecosystem success stories include Jobber, a provider of home service management software, which announced a USD $60 million round in January 2021.

Ecosystem by the numbers

TOTAL EARLY STAGE FUNDING
$89 m
GLOBAL AVG.
$431 m
ECOSYSTEM VALUE
$435 m
GLOBAL AVG.
$10.5 bn
MEDIAN SEED ROUND
$400 k
GLOBAL AVG.
$494 k
MEDIAN SERIES A ROUND
$4.2 m
GLOBAL AVG.
$2.7 m
SOFT. ENGINEER SALARY
$53.7 k
GLOBAL AVG.
$42.1 k

Sub-sector Strengths

AI, Big Data & Analytics

The Alberta Machine Intelligence Institute is #3 in the world in the field of core AI and machine learning. The Alberta Data Institute helps innovators prepare and secure their data as they develop new technologies. A partnership between AltaML, supply chain startup Attabotics, and Alberta Machine Intelligence received a CA$3.25 million grant from the Opportunity Calgary Investment Fund to develop new AI/ML capabilities. AI and IoT company Nanoprecise Sci Corp raised a $4 million Series A in April 2021. Social Asset Management (SAM) raised $2.7 million in May 2020.

Life Sciences

Alberta Innovates’ Accelerating Innovations into Care (AICE) helps companies commercialize new Health tech. In June 2021 Alberta Enterprise invested $5 million in Amplitude Venture Capital’s precision medicine venture fund to support the growth of Life Sciences companies in Alberta. Pharmaceutical knowledge database DrugBank is one of Edmonton’s fastest-growing startups, currently serving customers in 24 countries. University of Alberta spinout and Merck Invention Accelerator participant Pacylex Pharmaceuticals is planning phase 1 trials of its new cancer-fighting drug.

Reasons to move your startup to Edmonton

Low Taxes

Edmonton has some of the lowest taxes in Canada, with no provincial sales tax, no payroll tax, no health care premiums, and some of the lowest personal and corporate income taxes in the country.

Access to Affordable Tech Talent

Edmonton boasts one of Canada’s youngest populations, including over 125,000 students. The city’s universities produce more than 550 tech-sector graduates each year. The University of Alberta is consistently ranked in the global top 3 for AI and Machine Learning. Meanwhile, GDP per capita in Edmonton is $67,302 and the average cost of living is 37% cheaper than London, allowing startups in the city to access highly educated talent at reasonable cost.

Startup Community

Startup Genome
Members

Startup Genome
Partners

Edmonton Research Park
TEC Edmonton
Startup Edmonton
University of Alberta Health Accelerator
Startup TNT
Valhalla Private Capital
Advanced Technology Centre

Featured Articles from
Local Ambassadors

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