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Alberta Enterprise Corporation selects board members
News Release
Creating Opportunity
February 12, 2009
Alberta Enterprise Corporation selects board members
First steps in launching the corporation completed
Edmonton...
Leading executives and entrepreneurs have been named to the board of the new Alberta Enterprise Corporation. They will guide the corporation as it expands Alberta’s technology-focused venture capital industry.

“I am very pleased with the team who will lead the Alberta Enterprise Corporation in building a provincial community of professionals who specialize in financing technology,” said Advanced Education and Technology Minister Doug Horner. “Their expert knowledge of business, technology, venture capital and private equity will greatly enhance investment prospects for Alberta’s small and medium technology companies.”

The first order of business for the new board will be to recruit a Chief Executive Officer. The corporation will begin operations once key management has been hired.

Equipped with $100 million from the Government of Alberta, the Crown corporation will co-invest in venture capital firms with demonstrated expertise in environmental, nano, life science or communications technologies. Through these activities, the corporation will further develop Alberta’s venture capital industry.

The Alberta Enterprise Corporation Act was proclaimed in December 2008. The corporation is the cornerstone of Bringing Technology to Market, Alberta’s $178-million three-year strategic plan to move Alberta toward a more diversified economy, built on knowledge-based companies in high value-added industry sectors. The action plan is part of Premier Ed Stelmach’s vision to build the next generation economy in Alberta.

The members of the board of the Alberta Enterprise Corporation are:

  • Chair - Paul G. Haggis, former President and CEO of the Ontario Municipal Employees Retirement System (OMERS)
  • Vice-Chair -  Barry M. Heck, President and Principal Partner of EL Merchant Capital
  • R. Geoffrey Browne, Founder and Managing Partner of MWI & Partners
  • Vicky Sharpe, Ph.D., President and CEO, Sustainable Development Technology Canada
  • Brad Zumwalt, Founder and Partner, Zinc Ventures

For more information on the Alberta Enterprise Corporation visit www.advancededandtech.alberta.ca.

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Attachments: Biographies of board members

Media inquiries may be directed to:
Suzana Krpan
Advanced Education and Technology
780-427-2237

To call toll free within Alberta dial 310-0000.

Backgrounder
February 12, 2009

Alberta Enterprise Corporation Board Members

Paul G. Haggis, Chair
Paul Haggis was President and CEO of one of Canada’s leading pension funds, the Ontario Municipal Employees Retirement System (OMERS).  Paul restructured the organization and implemented dramatic operating and cultural change to lead OMERS to its best year ever in 2006.  Under his leadership, assets grew by $15.8 billion to $48 billion with value added of $2.8 billion. 

Paul has provided executive leadership in roles with organizations such as the Public Sector Pension Investment Board (PSPIB) and Metropolitan Life.  Paul was the head of Met Life’s non-insurance operations from 1990 to 1993.  As President and Chief Executive Officer for Alberta Treasury Branches (ATB) from 1996 to 2001, he led ATB to record profitability and market share growth.

Barry Heck, Vice Chair
Barry Heck is the President and Principal Partner of EL Merchant Capital, a private merchant capital, finance and M&A firm.  He was previously a senior executive of The Westaim Corporation (1997-2007) and served as President & CEO from 2003 to 2007. Barry was also Executive Chairman of Nucryst Pharmaceuticals, a leading medical nanotechnology company. Prior to joining Westaim, Barry practiced business and securities law from 1985 to 1996.

Barry's professional career is focused on the formation and growth of a wide range of technologies and businesses. Since 1985 he has been involved in numerous corporate initiatives, from small technology start-ups to large public corporations. Barry has an extensive range of experience in areas including finance and investing, private equity and venture capital transactions, executive leadership, M&A transactions, and technology start-ups and commercialization.

Brad Zumwalt
Brad Zumwalt has been growing technology companies for over 20 years and has been instrumental in leading technology companies such as Image Club Graphics, EyeWire.com, and Veer Incorporated. These companies have been successfully acquired by large industry leaders such as Adobe Systems, Getty Images and Corbis.

In 2000 Brad was a founding partner of Social Venture Partners Calgary, a unique non-profit funding partnership that combines a venture capital approach with local philanthropy. Brad has been recognized as one of Canada's Top 40 Under 40 honorees (1999), and with Calgary’s Generosity of Spirit Award (2001).  In 2006 Veer Incorporated was recognized as one of ‘Calgary’s Best Places to Work.

R. Geoffrey Browne
R. Geoffrey Browne has over 30 years of experience in the financial services industry in Canada, the U.S and London, England.  He was head of private equity for Merrill Lynch Canada and he is a founder and Managing Partner of MWI & Partners, a private equity firm.

Prior to founding MWI, R. Geoffrey was a senior executive with Canadian Imperial Bank of Commerce and CIBC Wood Gundy Inc. for over 20 years.  The last position he held at CIBC was Chief of Staff for CIBC World Markets. 

R. Geoffrey is active on numerous other corporate and not-for-profit Boards.  R. Geoffrey is one of three independent members of the Investment Review Committee of UBS Global Asset Management (Canada) Co.

Dr. Vicky J. Sharpe
Vicky Sharpe is President and CEO of Sustainable Development Technology Canada, a Government of Canada initiative whose mission is to build a sustainable development technology infrastructure in Canada. With over 25 years of experience in the energy industry, Dr. Sharpe has successfully integrated sustainable development into business practices. 

Vicky has served on numerous committees, in particular as an international advisor on sustainability issues; has represented the Canadian energy sector at the Asia-Pacific Economic Cooperation (APEC) Business Forum; and has chaired both the National Advisory Board on Energy, Science and Technology, and the Board of Directors of Clean Air Canada Inc.

Vicky holds a B.Sc. Honours in Applied Biology from Bath University, UK, and a Ph.D. in Microbiology and Chemistry, as applied to water pollution control, from Trent University, UK.

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Media inquiries may be directed to:
Suzana Krpan,
Alberta Advanced Education and Technology
780-427-2237

To call toll free within Alberta dial 310-0000.

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