Inventures brings millions in business investment to Calgary
CALGARY, Alberta, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Inventures, Alberta Innovates signature conference for technology, entrepreneurs, investors and industry decision makers, generated millions of dollars in economic impact and deal making for Calgary and Alberta innovators this year according to a new study measuring the event's impact.
As Calgary's technology ecosystem prepares to celebrate Innovation Week, Alberta Innovates is releasing the economic analysis and impact for Inventures which was held May 31-June 2 at the Telus Convention Centre. The economic analysis was performed by PwC Canada, commissioned by Alberta Innovates to measure the impact of this technology-focused investor conference on the province and Calgary.
Key highlights from the study show that Inventures drives business investment and improves the perception of Alberta's innovation ecosystem.
Quick Facts:
- Roughly 4,000 people from 30 countries attended in 2023
- $164-$256 million in business carried out, negotiated, or begun at the conference
- $2.1 million in tourism impacts directly for the City of Calgary
- $2.3 million in economic activity related to the event
- Natural resources and talent cited as Alberta's strengths as an investment destination
"Creating positive collisions between business leaders, investors, policymakers, and entrepreneurs is critical to growing a thriving tech space in Alberta. The Government of Alberta is proud to play a supportive role in Inventures. We're already looking forward to 2024."
Nate Glubish, Minister of Technology and Innovation
"Inventures is where deals are done, innovators connect, and ventures are born. It's a powerhouse experience that opens doors to world leading tech entrepreneurs, investors, and industry players. Plus, it showcases unique cross-sectoral capabilities of Alberta's innovation ecosystem. The PwC assessment shows the tangible impact delivered through Inventures and the momentum is growing for 2024."
Laura Kilcrease, CEO, Alberta Innovates
Alberta Innovates is participating in Calgary's Innovation Week activities through its support for Platform Calgary and the Calgary Innovation Coalition. According to the Canadian Venture Capital Private Equity Association (CVCA), Alberta, for the fifth year in a row, attracted a record amount of investment in 2022, with $729M invested across 85 deals.
Planning for Inventures 2024 is underway with the first keynote speaker announced. Juno Award-winning musician David Usher will bring his perspective as founder of the artificial intelligence creative studio, Reimagine AI.
Visit Inventurescanada.com for more information and future announcements for Inventures 2024 happening May 29-31, back in Calgary. For a copy of the economic analysis report visit AlbertaInnovates.ca.
BACKGROUND
Alberta Innovates manages nearly 1,300 projects in a portfolio valued at s1.33 billion. We work with innovators in all sectors of the economy and all corners of the province to drive entrepreneurship, applied research and industry development. With our impact-based funding programs and services, we are transforming energy systems for a net-zero world, promoting the responsible use of land and water, leveraging provincial strengths in agriculture, and contributing to improved health and well-being by harnessing digital tech and data. We are also advancing emerging technologies and strengthening entrepreneurship for a strong and diversified economy.
We operate in 11 locations with more than one million sq. ft. of industrial testing and lab facilities, and 600 acres of farmland. We employ nearly 600 highly skilled scientists, business and technical professionals. From funding to commercialization, we are Alberta's innovation engine!
See what entrepreneurs say about our coaching and support. Learn how Alberta Innovates.
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