Canada (Commonwealth)_In the span of just 15 months, the vibrant province of Alberta has witnessed the incredible impact of a suite of business accelerators, all thanks to the forward-thinking initiatives by Alberta Innovates. With impressive results, including $147.5 million in investments and the creation of 118 new jobs, these accelerators are not just fostering growth but are also nurturing Alberta’s burgeoning artificial intelligence (AI) sector.
The driving force behind this remarkable success is Doug Holt, the Vice President of Investments at Alberta Innovates, who saw an existing problem and set out to solve it. “We found a problem that needed to be solved,” Holt explains, reflecting on the inception of the Alberta Scaleup and Growth Accelerator Program (Scaleup GAP) in April 2021. Since then, the program has been a beacon of support for promising startups, providing them access to five distinct accelerator and pre-accelerator programs. These initiatives offer mentorship, invaluable connections to investors, and an array of other resources that empower these startups to achieve self-sufficiency.
The numbers speak volumes: during this short period, 169 new Alberta companies have engaged with pre-accelerator programs, while an impressive 65 have successfully graduated from the four global accelerator programs. It’s worth noting that nearly half of these graduates are rooted in artificial intelligence technology—a fact that deeply gratifies Holt, who has devoted years to nurturing growth in this sector. To him, the success of AI isn’t just about plugging it in; it’s about fostering competence and expertise to truly make it thrive.
The province’s dedication to AI excellence doesn’t come out of thin air. Canada, as highlighted by Stanford University’s AI Index Report, ranks fifth in AI vibrancy among 29 countries and third among G7 nations in AI research, development, and economy. Edmonton, in particular, stands out as a vital contributor to this reputation. The Alberta Machine Intelligence Institute and the University of Alberta’s prestigious fifth rank in the world for AI and machine learning research testify to the city’s prominence. Holt acknowledges this legacy, stating, “We get to stand on the shoulders of people that have made wise decisions years ago.”
One remarkable example of the impact of this AI surge is Ali Salman and his venture, Lawtiq. Salman’s brainchild employs AI technology to simplify settlement, immigration, and visa processes for newcomers to Canada. Originally envisioned as the “Expedia for lawyers,” Lawtiq pivoted to address the challenges newcomers face in navigating these complex systems. This issue hits close to home for Salman, who himself arrived in Canada before the advent of the internet. With a mission to reduce misinformation and fraud in the industry, Lawtiq has flourished through programs like the Alberta Catalyzer pre-accelerator, hiring new employees and securing a place in the Alberta Accelerator by 500. The company’s growth trajectory continues with plans to onboard 30 more staff members and establish a physical office space.
Ali Salman acknowledges the incredible potential AI holds for Edmonton’s tech sector. He aptly likens AI’s role in today’s startups to “salt and pepper,” a ubiquitous and essential element. As consumers demand AI-driven solutions, this technology is becoming indispensable, driving growth across various sectors.
BETSY, developed by One Cup AI, stands as one of the Scaleup GAP’s major success stories. BETSY, which stands for Bovine Expert Tracking and Surveillance, embodies a “virtual ranch hand” that aids Alberta’s farmers and ranchers. Mokah Shmigelsky, the founder of One Cup AI, attests to the challenges of introducing AI to the agricultural landscape. However, through the SVG Thrive accelerator, the company has not only doubled its staff but also managed to deploy its system across 140 locations in Canada, catering to multiple livestock types. This success story even earned them a spot in Google’s prestigious cloud accelerator.
The inspiring achievements of Lawtiq, One Cup AI, and numerous other startups have showcased the potential of Alberta’s business accelerators. As these companies continue to flourish and the province’s reputation as an AI hub solidifies, Alberta Innovates envisions more startups joining their programs. Doug Holt, reflecting on the collective success, shares that “when you have one company that’s winning, it’s a fluke. When we’ve got hundreds of companies that are starting up and they’re all finding success outside of the Alberta market, it really starts to change the mindset.”
It’s clear that Alberta’s rapid ascent in the world of business and technology is not only a result of astute decision-making but also of a nurturing environment that encourages innovation and growth. The province’s commitment to nurturing startups, particularly those focused on AI, is not just fostering economic growth but is also solidifying its place on the global stage as a hub of innovation. With bold entrepreneurs like Ali Salman and Mokah Shmigelsky at the helm, supported by visionary programs, Alberta’s journey towards a tech-driven future is poised to inspire and lead.
