Entrepreneurship Thrives as Canada’s Defining Trait

Recent articles have raised concerns that Canada’s economic future is at risk due to the lack of entrepreneurial culture, a narrative that couldn’t be farther from the truth. In fact, a recent report from The Organization for Economic Cooperation and Development (OECD) ranks Canada as the most attractive country for immigrant start-up founders and entrepreneurs among all OECD nations.??

We must recognize and celebrate Canada’s entrepreneurs. They are a powerful and growing force for propelling the nation’s economy.??

The entrepreneurial gene is alive and well in Canada. More than 20 Canadian companies have reached unicorn status, with a value more than $1 billion each, and many more are rapidly scaling up. Promising ideas are met with available capital, interest from foreign investors, and an influx of talent eager to work for, or alongside, world-class companies that are solving some of today’s biggest challenges.?????

Alberta is a leading jurisdiction in North America when it comes to an entrepreneurial make-it-happen attitude. The province saw venture capital deals grow by 19% in the past year alone and is home to more than 3,000 tech companies. Four Alberta-based companies, Benevity, Shareworks by Morgan Stanley, Enverus Intelligence Research Inc., and Parvus Therapeutics have reached unicorn status.??

With more and more startups clustering around established tech firms that have relocated to the province, Alberta is growing into a global tech hub. It’s not surprising then that Alberta is also experiencing the fastest tech workforce growth in North America.?

Spurred into action during the 2014 economic downturn, the energy industry seized the opportunity to evolve with the future in mind. Nearly 10 years later, the industry has embraced new technologies, automation, digitization, AI, and the province is now a global leader in clean tech. These technologies, many created by innovators in Alberta and across Canada, are helping companies become more efficient and reduce carbon emissions.??

Canadian companies are spearheading the digital transformation beyond the energy sector and into areas like agriculture too. Canada’s agriculture and agri-food sector, long rooted in resilience, is also embracing advanced technology to create more sustainable and cost-effective solutions to food security, safety, and processing. Alberta alone boasts world-class research and development facilities such as the?Food Processing Development Centre?and the?Agrivalue Processing Business Incubator, which support companies bringing new products to market. Alberta’s innovators collaborate with farmers to increase yields, find efficiencies, and promote sustainability through increased connectivity and data. Phyto Organix, for example, has a new state-of-the-art, net zero emission plant protein facility built to offer the market more sustainably processed food.?

As the tech industry continues to mature and gain critical mass with solutions applied across multiple sectors, new companies and talent leverage the expertise. Invest Alberta, the province’s investment attraction agency, knows first-hand that a base of successful entrepreneurs entices global investors to our region. Amazon Web Services is investing $4.3 billion to make Alberta its new cloud computing hub, a massive operation that brings opportunities to collaborate with independent software companies, small construction companies, tech startups, and businesses from Kidoodle.TV to TC Energy.?

The country can look to Alberta to gauge the health of the country’s entrepreneurial culture. Our start-up culture is flourishing with access to talent, strong research capabilities, business-friendly policies, and unique incentives like Canada’s Start-Up Visa program designed to attract promising entrepreneurs.??

Canada's entrepreneurial identity remains a powerful force, contrary to recent doubts. Alberta’s position as a growing international tech hub shows the tangible impact of entrepreneurship on economic resilience and future prosperity.??