I N V E S TME N T ACT I V I T Y I N 2 0 2 0 Spo t l i ght on A l be r t a
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countries with all eyes focused on the incredible momentum and po- tential of the region. As with many emerging innova- tion ecosystems, access to capital remains a barrier for a significant portion of Alberta’s entrepreneurs. 60% of companies surveyed for the recent Alberta Enterprise Corpora- tion (AEC) Deal Flow Study indicat- ed lack of access to capital/funding as the biggest immediate challenge they are facing. Angel activity in Al- berta remains fairly unstructured with only a handful of structured angel organizations in operation.
In March 2021, NACO hosted a na- tional Summit with a focus on the Western Canada region, featur- ing speakers from across all four provinces. The Alberta innovation ecosystem figured prominently throughout the event with the an- nouncement of True Angle, a med- ical device company as the recip- ient of NACO’s Edmonton Startup of the Year award, a venture show- case highlighting promising Alberta companies and fireside chats with speakers such as Alberta-based investor and TV personality Ar- lene Dickinson. This event had over 1,000 attendees, from nearly 40
2020 was a pivotal year for the Al- berta innovation ecosystem with record-breaking raises from local scaleups Symend and Neo Finan- cial and the announcement of Ben- evity reaching unicorn status with a valuation of US$1.1 billion. Posting a record-breaking $455 million in venture capital investment across 51 deals, 2020 surpassed all pre- vious years by a margin of 100%. The steady stream of startup news flowing out of the province certain- ly piqued the interest of investors from across Canada and around the world.
202 1 ANNUAL REPORT ON ANGEL I NVEST I NG I N CANADA The Chang i ng Landscape
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