Transforming Alberta's Economy: Issue 26

Welcome to Issue 26 of Transforming Alberta’s Economy.

What you’ll find inside:

1?? Alberta News & Events

2?? Collisions YYC: July episodes

3?? Curious as Hell

Alberta News & Events

Emissions Reduction Alberta commits $44.4 million to 21 cleantech projects

Emissions Reduction Alberta (ERA) , an organization that aims to help the province deliver on its environmental and economic goals, has invested $44.4 million across 21 cleantech projects as part of its Emerging Innovators Challenge.?

Hyperspectral satellite imaging startup Wyvern , emissions management software startup Arolytics , and other cleantech companies were among the selected recipients, which are expected to deliver a cumulative GHG emission reduction of 1.2 million tonnes by 2030.?

Read the article.

Employment growth in the technology industry is driving Alberta forward

Employment in Canada’s technology sector is forecasted to continue on the upward trajectory it has experienced so far in 2022, including in Alberta and the Edmonton metropolitan area.

The Computer Technology Industry Association’s State of the Tech Workforce in Canada outlook estimates that total tech employment countrywide will increase 1.5% over 2021 to reach 1,254,708 workers during 2022. According to the annual report, Alberta tech employment will increase by 743 to a total of 99,533 during 2022, placing it fourth in Canada behind Ontario, Quebec and British Columbia.

Read the article.

The Toast Summit happens next month

Join our friends at Toast for the 2nd Annual Women in Tech Summit. This full-day event, taking place at Platform Calgary on September 19th, is dedicated to uplifting and empowering women in the tech industry.

Featuring a lineup of industry leaders and inspiring speakers, the Women in Tech Summit will delve into essential topics such as venture capital, women entrepreneurs, and leadership in the tech sector.?

Learn more.

Active investing, does it mean sometimes you have to be cruel to be kind?

Our friends at Metiquity Ventures shared the significance of ‘being the bad guy’ when it comes to guiding the next generation of local, early-stage companies and founders in Alberta and across the Canadian Prairies.

Read the article.

Calgary snags second spot in national ranking of venture capital flow

Venture capital is flowing through Alberta and Calgary is the heart of investment.

Blue Sky City shined on the national stage this month as the region snagged second spot for most venture capital investment through the first half of 2024.

With $455 million across 37 deals, Calgary narrowly outpaced Montreal’s $440 million across 31 deals, a report on financings found. Blue Sky was the only Alberta city on the list, which saw seven of the 10 regions hail from British Columbia (Vancouver in 4th, Burnaby in 6th, Richmond in 8th, and Surrey in 10th) and Ontario (Toronto in 1st, Ottawa in 7th, and Waterloo in 9th).

Read the article.

Collisions YYC: July episodes

Marcie Jones , Fractional B2B Leader at Marcie Jones Consulting

Marcie discusses the interplay between hard work, diversity, and success in entrepreneurship and farming, highlighting the importance of community, trust, and fractional leadership in driving business growth and innovation in Western Canada.

Listen to the episode.

Alicia Quesnel , Managing Partner at Burnet, Duckworth & Palmer LLP

Alicia provides insightful commentary on the potential for growth in the clean tech space, the importance of energy security and affordability, the challenges in policy making and project development in Canada, and the necessity of mentorship and sponsorship for career advancement.

Listen to the episode.

Will Zhang , CEO and Co-Founder of OpenHouse.ai

Will discusses the critical importance of aligning leadership with the mission's higher purpose, navigating the complexities of the homebuilding industry with advanced AI technology, and balancing innovation with risk management to drive meaningful impact.

Listen to the episode.

Demian Newman , CEO and Founder of GreenWorks ESG

Demian emphasizes the critical need for standardizing ESG (Environmental, Social, and Governance) reporting to enhance transparency, reduce legal risks, and ensure credible data management across industries, highlighting the challenges businesses face in transitioning to these evolving mandates.

Listen to the episode.

Bryan de Lottinville , Founder and Executive Chairperson of Benevity

Bryan delves into the intricacies of greenwashing, the importance of authentic company culture, the challenges of scaling a social impact enterprise, and the pivotal role of diversity and inclusive leadership in a rapidly evolving tech ecosystem.

Listen to the episode.

Curious as Hell

How to Create a Culture of Curiosity?

The greatest threat facing your company and your team is not competition but your lack of intention to build your culture on purpose. Without a culture of curiosity, your team may become stagnant, resistant to change, and less innovative, ultimately leading to a decline in business performance.

I once had a conversation with a local startup founder who (by all accounts) was “crushing it.” When I asked about culture, he gave me a response that, to this day, I find to be surprising, if not borderline ridiculous.

He said, and I quote, “Culture is not something we think about. At 500 people and growing, our team is just too small to worry about it; in a year or two, when we are larger, it will be worth it then.”

I was borderline speechless and proceeded to be curious and ask a few probing questions to learn more. I run the risk of revealing my source by sharing more, so if you want to know about the conversation, pop me a note. I'm happy to chat.

As leaders, managers, and founders, we all have a choice: Do we purposely create a culture or let it take its own path? Trust me when I say that you will have an organizational culture no matter what you do. But the more deliberate you can be about it, the higher the chance you can build a resilient business with the team you need to reach your collective goals.?

Creating a culture of curiosity starts with intention, a personal belief that it will be beneficial, and the self-awareness to lead by example and give your team the time and space to practice it until it becomes second nature and engrains your company’s culture. In my opinion, this starts with the following three key factors:

1. Psychological safety
2. Emotional intelligence?
3. Creating space and taking time

Psychological safety is creating an environment where everyone feels safe expressing their thoughts, asking questions, and sharing ideas without fear of judgment or negative consequences.

If you’re not sure if your culture is psychologically safe, start by asking yourself and your colleagues these questions:

• Does your team feel free to speak up??
• Do you have a ‘no such thing as a bad question’ policy??
• Do people often dissent from the group and are willing to ask why?
• Are mistakes treated as learnings, or are they treated like events to avoid?

When you consider yourself a leader, what behaviour do you model with your team? Saying you believe in failure and then holding yourself to a different standard will always leave a powerful message to your team. Remember, your actions speak louder than your words, and you have the power to influence the culture of your organization.

“Always be aware of your attitude; actions speak louder than words.”

Emotional intelligence is understanding and managing your emotions and using this awareness to navigate social interactions more effectively and with reduced friction. The following questions can help you identify the level of emotional intelligence in yourself and your organization.

• Are you aware of your triggers??
• Are you able to catch yourself when you get triggered?
• Do you listen to understand, or do you listen to respond?
• Are your teams' personal experiences and responses valued or dismissed?
• Do you reflect on your reactions and responses and make adjustments for next time?
• Do you believe your thoughts and feelings on a topic are fixed or flexible?

Creating space and taking time does not mean carving out a particular time for curiosity or holding a curiosity session. It means giving your team that extra moment to think and to question without shutting it down.

• Is your team always rushing to the next meeting?
• Do you have a thinking culture or a doing culture? (Hopefully, you have a bit of both)
• Do any of your KPIs involve coming up with no ideas or questioning the status quo?
• As a leader, do you model taking a few minutes at every meeting to allow everyone to be heard–not just the talkers?
• Does your team know it will be supported if they come to you for more time on a project? This is not about missing deadlines but about letting people know where you are well before the deadline.

So much of this may sound like common sense, but as we all know, common sense is rarer than we might think. It has been my experience that, like so many aspects of curiosity and, in this case, how it relates to culture, how you show up as a leader will set the tone for how your team engages with you and each other.

The leader I referenced in the first paragraph's tale didn’t get a happy ending. Their company struggled and stalled in growth mode, which resulted in a mass exodus of unhappy team members. You get the culture you create; in their case, they got the one they ignored.

Stay Curious!

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