Edmonton’s Tech Ecosystem By the Numbers
Canada
Edmonton
MEMBERS:
Edmonton Unlimited
“Edmonton's entrepreneurs create local solutions meeting global needs, attracting forward-thinking investors worldwide. As our city continues to evolve into a regional startup hub, we are seeing remarkable achievements from our diverse and talented entrepreneurs.”
Highlights
From AI and Machine Learning to sustainable energy and medical breakthroughs, Edmonton’s innovation ecosystem is thriving over a broad spectrum of disciplines driven by a dynamic blend of technology advancement, research, collaboration, and entrepreneurial spirit. In 2023, Edmonton's tech sector soared with a 324% surge in venture capital, reaching $136.8 million, showcasing the region’s robust tech growth.
At its core, Edmonton is a rich academic landscape with seven post-secondary institutions and is the first Canadian city recognized by UNESCO’s Global Networking of Learning Cities. This educational powerhouse serves as a hotbed for groundbreaking research and a pool of young and highly skilled talent. In October, the University of Alberta launched the Innovation Fund to advance commercialization of research and invest in startups working to solve complex challenges.
In recent years, Edmonton has witnessed a surge in startup activity, propelled by a supportive network of incubators, accelerators, and funding opportunities. The city’s innovation ecosystem is anchored by Edmonton Unlimited — the city-funded innovation entity responsible for ecosystem building — and approximately 20 other support organizations, including Startup TNT, Amii, Alberta Innovates, and Health Cities.
Beyond its economic impact, Edmonton's innovation ecosystem fosters a sense of community and inclusivity, encouraging individuals from all walks of life to contribute to its vibrancy and future. Through programs like ELITE, ANZA Black Entrepreneur Ecosystem, and Alberta Women Entrepreneurs' Bold Leadership Program, Edmonton strives to ensure that innovation is accessible to all, empowering innovators to drive positive change on both a local and global scale.
Ecosystem by the Numbers
NUMBER OF UNICORNS
(H2 2021 - 2023)
Sub-Sector Strengths
AI, Big Data & Analytics
The University of Alberta, ranked fifth globally for AI and ML research, launched Canada’s first AI certification initiative in 2024. This year it announced a partnership with Amazon Web Services to launch Artificial Intelligence Discovery Place, which aims to advance AI. Companies like AltaML and Jobber are developing AI solutions for various industries, from healthcare to finance. In 2023, a $21.8 million investment in the Alberta Machine Intelligence Institute (Amii) will boost talent, research, and commercialization in Alberta's AI ecosystem.
Life Sciences
With a focus on digital health, medical devices, and diagnostics, Edmonton’s Healthtech sector is driven by collaboration among its 284 Life Sciences companies and support organizations like Health Cities and Applied Pharmaceutical Innovation. Notable companies like Nanostics, True Angle, and Metabolomic Technologies are developing cutting-edge diagnostics and therapeutics. The city's commitment is further underscored by the $58.6 million federal funding injection in 2023, reinforcing initiatives like the Canadian Critical Drug Initiative spearheaded by Applied Pharmaceutical Innovation and the University of Alberta’s Li Ka Shing Applied Virology Institute.
Cleantech
Edmonton is a growing hub for Cleantech, boasting over 400 Cleantech companies such as award-winning sustainable battery storage technology company Grengine. The Edmonton Region Hydrogen HUB, Canada's largest hydrogen network, is a global leader in low-cost hydrogen production. It unites government, Indigenous, academic, and industry leaders to drive innovation and economic growth, positioning Edmonton at the forefront of the energy transition. Edmonton also leads in green transportation, operating both hydrogen fuel cell and electric buses, a first for a municipality in Canada.
Reasons to Move Your Startup to Edmonton
Skilled Talent
Edmonton features a skilled talent pool, with over 130,000 students enrolled annually across its seven post-secondary institutions, including the University of Alberta and NAIT, Canada's largest polytechnic institution. The city's workforce includes professionals in healthcare, technology, and engineering, making it appealing for companies in search of top-tier talent.
Dedicated Support
Edmonton is home to a diverse array of entrepreneurial support organizations, including industry-specific groups, funding entities like StartupTNT and Alberta Innovates, and three global accelerators. In May 2023, Edmonton Unlimited launched its innovation headquarters, a dynamic hub fostering collaboration, innovation, and networking. Already, over 7,500 community members have engaged with its programming, events and partnerships, enhancing Edmonton's vibrant entrepreneurial ecosystem.
Affordability
The cost of living in Edmonton is significantly less than other major Canadian cities, such as Vancouver and Toronto. The combined federal/provincial corporate income tax rate is 23% for general businesses and 11% for small businesses with revenues below $500,000. This is the lowest tax rate in Canada and among the lowest corporate tax rates in North America.
Selected Startup Organizations
Startup Genome Members
Key Ecosystem Players
The Alberta Machine Intelligence Institute (Amii)
TELUS Community Safety & Wellness Accelerator
News from the Ecosystem
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