Alberta's AI startups are thriving, thanks to the intervention of global business accelerator programs brought to the province by Alberta Innovates. In just over a year, these programs have generated $147.5 million in investments and created 118 jobs, bolstering Alberta's already burgeoning AI industry.
Accelerator programs spur AI growth
In just 15 months, Alberta Innovates' suite of business accelerator programs have done wonders for the province's AI sector. The programs have brought in a whopping $147.5 million in investments and created a significant number of new jobs - 118 to be exact. This impressive boost is proof of the successful problem-solving approach adopted by the vice-president of investments at Alberta Innovates, Doug Holt.
Scaleup GAP powers promising startups
Launched in April 2021, the Alberta Scaleup and Growth Accelerator Program, or Scaleup GAP, has been a game-changer for promising startups. Through Scaleup GAP, these startups have gained valuable access to five distinct accelerator or pre-accelerator programs. These programs offer a wealth of resources such as mentorship, investors, and other forms of support, essentially empowering these startups to stand on their own feet and become self-sufficient.
According to Stanford University's AI Index Report, Canada's standing in AI vibrancy as well as in research, development, and economy is quite high, ranking fifth of 29 countries and third among G7 nations. Edmonton plays a significant role in Canada's strong reputation in the AI field. It houses Alberta Machine Intelligence Institute and the University of Alberta, which ranks fifth worldwide for its research in artificial intelligence and machine learning.
AI's role in agriculture
AI's applications aren't confined to the tech sector. It's making headway in agriculture as well, thanks to One Cup AI and its 'virtual ranch hand', BETSY. Founder Mokah Shmigelsky joined the SVG Thrive accelerator in 2022, a program focused on agrifood tech startups. Through this, One Cup AI was able to double its staff and now has 140 Canadian locations running its system, highlighting the relevance of AI in providing data to base important decisions on.
Newcomer on the scene, Lawtiq, is demonstrating the versatility of AI by leveraging it to assist users through settlement, immigration, and visa processes. Lawtiq connects users with legal and immigration experts, providing crucial support to newcomers. Its founder, Ali Salman, who himself immigrated to Canada, understands the navigation difficulties. He believes AI is a powerful tool to reduce misinformation, disinformation, and fraud prevalent in the industry.