Annual Report 2018-19 (Alberta Enterprise Corporation)

Summary

• Alberta Enterprise Corporation committed $183 million for investment across 17 venture capital funds.p.4
• Venture capital funds and their syndicate partners invested over $494 million into 42 Alberta technology companies.p.5
• Every $1 invested by Alberta Enterprise resulted in more than $4 of investments back into Alberta companies.p.4
• Investments contributed to creating over 1,400 direct jobs and an estimated 1,800 indirect jobs in Alberta.p.5
• The fund model leveraged $183 million in capital commitments to create access to >$1.7 billion in capital.p.5

Key insights

1. Every $1 invested by Alberta Enterprise is currently worth $1.17, demonstrating a positive total value to paid-in ratio.p.5
2. Portfolio funds achieved 21 profitable exits, yielding over $25 million in distributions to Alberta Enterprise.p.5
3. Software is the leading technology sector in Alberta, accounting for 40% of overall dealflow.p.9
4. Energy tech and clean tech startups represented 21% of dealflow in Alberta's tech ecosystem.p.9
5. Artificial intelligence and machine learning technologies are integrated into 34% of Alberta tech startups.p.9
6. The share of startups in later stages of product development grew to 63% in 2018 from 51% in 2016.p.14
7. Founders with relevant technical backgrounds lead 84% of Alberta tech startups.p.18