ABCtech #80 06JAN17 Alberta’s Culture of Risk

ABCtech #80 06JAN17 Alberta’s Culture of Risk

We believe that vision and leadership are the keystones to Creating the new – more resilient, Alberta! So does Don Hill who we invited to share with us his perspective. Enjoy! – Editor

Alberta’s Culture of Risk by Don Hill

I go to where people say “yes”.  I was part of the cohort of young talent and enterprise that landed in Alberta a generation ago. It’s been a fantastic ride, and it ain’t over by any stretch.

I’m going to tell you how Alberta’s towns and cities and counties have what it takes to make a prosperous future.  There’s no shortage of resources and infrastructure, financial and intellectual capital, and a talent pool to do whatever you want to do; it’s how those resources and human capital have been allocated – that needs to change – only you can create the conditions for that to happen. And I will tell you how it can and has been done.

Alberta is the only province in the entire country that has a ‘culture of risk’.  The petroleum sector was built with risk capital; there is no moral hazard associated with a ‘dry hole’ – stories of hardship turned into success are legendary – you can’t win if you don’t keep playing. As community leaders, dare to dream out loud and attract an entrepreneurial and risk-taking investment culture to make the future you imagine.

Alberta has the three-legged stool for success.  We have – 1. the artists & designers, 2. the science & engineering savvy, and 3. financial know-how – venture capital is just a part. At the moment, the stool is wobbly. This is where you – as local leaders – can immediately intervene. Enlightened policy will right the imbalance — bringing out the best from the brightest – every business is one innovation away from being out of business.  And that’s okay.

Turn back the clock half-a-generation, you’ll see the companies and ideas that hold most value these days were mere scribbles on a chalkboard (in the instance of Google, an algorithm to make sense of the internet).  Think of oddballs in teeshirts.  While it’s tempting to take direction from Silicon Valley, all you’re going to end up with is a franchise at best. Alberta can create the conditions to grow intellectual capital that we own, and manage the patents we create to travel the world.  It’s up to you – yes, you.

This is the perfect time to invest in challenging ideas that lead toward the future – no matter how crazy and out of step they seem with the present. And there will certainly be winners and losers, but it’s clever people and their persistence that will define the days ahead.

After all, this economy is not a drill.

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