A new provincewide initiative will link Alberta-based high-tech companies to specialized mentoring, investment dollars and expanded markets in California.
The Alberta-California Venture Channel will introduce high-tech companies that have already received financing from a source in Alberta to venture capitalists and investors in Silicon Valley.
The network will provide Alberta companies with management expertise and better access to markets in the United States.
“We’re improving the investment climate in Alberta by bringing together both ends of this investor network,” said Victor Doerksen, minister of Alberta Innovation and Science. “The partnerships created by this network will help attract valuable investment that Alberta companies need to stay and grow in Alberta.”
Several networks of California-based investors are set to participate in the Venture Channel. For example, Sensei Partners LLC, based in Menlo Park, is an executive resource team that applies its managerial and investment expertise to accelerate the development of early-stage technology companies.
“We’re really excited about the concept of Venture Channel, and have already reaped some of the early benefits through a July visit of a California venture capitalist,” said John Masters, president and CEO of Calgary Technologies Inc.
“The goals of Venture Channel meet the long-term objectives of our Concept to Capital program.”
“This new venture will be an excellent resource as Greater Edmonton develops its technology innovation and commercialization strategies,” added Allan Scott, president and CEO of Economic Development Edmonton.
