Alberta’s technology and innovation sector broke records for a fourth straight year, attracting $729 million in investments in 2022, a 30 per cent increase over 2021.
The Canadian Venture Capital and Private Equity Association has released its 2022 annual report showing that Alberta has broken another venture capital investment attraction record. Alberta continues to see sustained growth in venture capital investment, solidifying the province as a hub for technology and innovation.
Alberta had its best fourth quarter on record with $220 million invested into tech companies across 85 deals. The 30 per cent increase in year-over-year values is in stark contrast to Canada as a whole, which saw a decline in venture capital dollars invested of nearly 30 per cent. Due to the rapid year-over-year growth, Alberta is now capturing 12 per cent of the venture capital invested in Canada.
“Alberta’s tech sector is on fire. We are seeing record levels of investment leading to more jobs and a more diversified economy. We are building on this momentum by ensuring Alberta startups have access to the right supports they need to grow.”
Alberta’s technology and innovation sector continues to grow in size and reputation, attracting investment dollars and tech professionals from across Canada and around the world.
“Alberta’s tech sector has become a force to reckon with in Canada and beyond. For the fifth year in a row, we are seeing increased investments into Alberta technology companies. Alberta is capturing a larger proportion of the venture capital deals made in Canada compared to our population basis. This is a testament to the great businesses our entrepreneurs are building, combined with support from Alberta’s government.”