Must Read: Alberta’s Technology and Innovation Strategy 2022 outlines concrete initiatives for investment in the technology sector

On April 12, 2022, the Government of Alberta (the province) released its Alberta Technology and Innovation Strategy (ATIS). The strategy aims to add 20,000 new technology jobs to Alberta while providing concrete commitments to support technology innovation.

This blog provides a concise summary of major ATIS initiatives. It is highly relevant to Canadian companies active in the technology, research and education sectors. Here’s what you need to know:

1. Expect widespread investment in skills and immigration

The province is committed to addressing labor shortages in the technology sector. Following a successful micro-certifications pilot project in 2021, Albertans can expect a more robust introduction of micro-certifications programs to support rapid skills growth. Additionally, ATIS is committed to supporting the Major Innovation Fund to advance research investments in key areas including autonomous systems, antimicrobial resistance, smart agriculture and climate change management. indigenous, rural and remote water. Finally, the province intends to speed up immigration by introducing a fast-track technology pathway under the Alberta Advantage immigration program.

2. Expect greater access to private and public capital

The province is committed to increasing access to capital for technology start-ups. ATIS pledges $175 million recapitalization of Alberta Enterprise Corporation to support seed funding. In addition, the strategy affirms its continued support for technological innovation and emissions reduction in the development of technologies that reduce emissions and increase the value of Alberta’s natural resources.

3. Expect more investment in R&D and commercialization

The province is committed to research and infrastructure development. ATIS commits to invest in the creation of a Clean Hydrogen Center to leverage Alberta’s expertise in hydrogen innovation, AI research and improving internet speeds in underserved rural, remote and Indigenous communities through the Alberta Broadband Strategy. Additionally, ATIS is committed to developing an Alberta Data Strategy to leverage the province’s open data program with private sector collaborations to identify emerging business trends.

In response to a growing need for technological innovation, ATIS offers several concrete initiatives to foster a climate conducive to change. For more information on Canadian technology investments, financing and mergers and acquisitions, please contact your trusted McCarthy Tétrault advisor.

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