ABCtech #04 18JUL06 Alberta Chamber of Technologies

ABCtech #04 18JUL06 DRAFT Alberta Chamber of Technologies

DRAFT for Comment

Alberta Chamber of Technologies PROGRAM Supporting

Early Stage, Technology Based SMEs

Prepared for the Alberta Chamber of Technologies

Michael Hollinshead

18-JUL-06

Alberta’s economy must diversify to ensure a prosperous future. Today we are young, small population province with world class infrastructure and carbon to spare. The public network of colleges and technical institutes, our research universities and the SuperNet, help tie them together. Yet the growth of technology-based SMEs, and the growth of community enterprise (what is community enterprise?) lags. This is particularly troubling as technology-intensive SMEs are the key to the future growth and diversification of Alberta’s economy. A recent finding (study, survey, report?) found is that over 250 knowledge-intensive, early stage companies are looking for help (what kind of help?) in Alberta in any given year. The vast majority are not finding it, in spite of Alberta’s vast wealth (evidence?). And, on another front, it is reported (by whom?) that many new-starts leave the Province as they attempt to mature in the face of gaps in their resource and service requirements.

Also consider, Alberta is on the verge of a major shift?, both out of necessity and as the by-product of an aging workforce. Baby-boomers are nearing retirement, freeing up enormous amounts of wealth for potential reinvestment in new enterprises, but also withdrawing enormous experience and talent from the market. This talent and capital is the foundation upon which a diversified economy can be built.

What

The Alberta Chamber of Technologies (ACT) seeks out and provides leadership to help Alberta’s infrastructure support entrepreneurs and SMEs. ACT’s mandate and “Plan of Action (attached) is to “Diversify Alberta’s economy through technology:”

Assist in the growth of strong and vibrant technology SME’s in Alberta

Support the creation of wealth among entrepreneurs and SMEs

Partner SMEs with the existing business infrastructure

Influence policies that facilitate access to capital

Facilitate access to learning, knowledge and mentoring

Assist in the coordination of SME support programs

Components of the PROGRAM

Leadership. Developing Chapters of Chambers of Technologies – providing a basis for networking, enterprise, partnering and leadership development

Learning. Establishing Incubators for mentoring and instructing entrepreneurs and SMEs through instructional programs developed and delivered by incubators, institutes and local colleges (What about those incubators that currently exist?)

Financing. Developing a virtual support system for angels and early stage entrepreneurs and the pooling of local capital for the formation of regional investment funds that target technology-based enterprises. (What about existing angel neworks – AVNet, Deal Generator, etc?)

Systems. Building a common accountability infrastructure including financial, manpower and registration services complimenting Alberta’s SuperNet. (What does an “accountability infrastructure” mean?)

Knowledge. Integrating with a local colleges or technical institutes as a source of local knowledge and technical talent

Key Points

Involving communities outside Alberta’s two major urban centres.

Harnessing the desire of local leaders to create a future for their children and grandchildren by developing new, local technology-based, knowledge-intensive businesses.

To successfully grow local new businesses it is important to enable the community to network effectively and provide the leadership, collaboration and institutional supports that early stage technology companies need.

Most of the components required are in place: leadership, capital and the information and educational infrastructure. Enhanced coordination and “incubators” are needed to bring the components together in a partnership focused on early stage entrepreneurship, company financing and development.

Your comments and your participation will make a difference. Please comment on this PROGRAM draft and let us know…will it fit your needs, those of your community?..and importantly, how might you help?

Visit www.ABCtech.ca and Register. (Membershi