“Alberta’s tech and innovation sector is booming. Venture capital investment in the province continues to see continued growth in the tech sector.
“Venture capital investments in Alberta in the second quarter of 2023 saw 24 deals worth $208 million. This represents an 18 per cent increase in deal size over the same period last year, while the whole of Canada saw a 28 per cent decrease.
“We have been laser-focused on ensuring our province offers the best ecosystem for investors. Investments into Alberta ultimately create jobs, continue our economic momentum and support local tech innovators. We are creating this ecosystem by decreasing red tape, providing low corporate tax rates and ensuring Alberta’s workforce is ready to work in vital industries such as tech.
“Our actions are producing amazing results. Alberta is now capturing 11.9 per cent of Canada’s venture capital deals. We have positioned our province to be the next tech hub of North America and we will continue to work around the clock to ensure we reach that goal.
“In the second quarter of 2023, we saw a steady stream of investments of more than $10 million and if this continues, Alberta will be on track for yet another record-breaking year.
“Alberta’s rapid and consistent growth over the past few years is a clear indication of a more diversified economy and shows the incredible growth that I’m confident we will see in the years ahead.”