ABCtech #99 31-OCT-17 Is Alberta’s Economy Resilient – Struggling to Diversify

ABCtech #99 31-OCT-17 Is Alberta’s Economy Resilient? – Struggling to Diversify

Alberta’s economic resilience remains weak and widespread though there is evidence of increasing confidence in it’s Innovation Ecosystem.  It is this System that is so essential for diversifying Alberta’s economy by supporting innovation and enterprise of Alberta entrepreneurs and small businesses.  The report reflects the results of our semi-annual, September on-line survey of ABCtech subscribers.

Not surprising is a strong sentiment that the economy is not diversifying and more resilient.  Why? Several reasons for the slow pace of change have surfaced, none easy to resolve and complicated by two factors: the province’s extended dependency on oil and gas and the Innovation Ecosystem’s heavy dependency on governments.  The report identifies several other impediments to innovation and recommended remedies.

The slow pace of change begs action, but patience may be warranted: oil and gas economies are notoriously difficult to diversify, Alberta’s Innovation Ecosystem is in the early stages of development, and managing change is never easy particularly after an extended period of prosperity.

Also, as we reported in our last issue, 98. Quiktech Notes – Accelerate, the Alberta culture of survival vs growth among start-ups and SMEs in general, impedes innovation.  More ambitious, achievement-motivated management and leadership is essential.  System change warrants far-sighted vision and sustained leadership AND less reliance on government.  – Perry Kinkaide, Editor and CEO, Alberta Council of Technologies

email Editor@ABCtech.ca for the Full Report.

Mobile Version HERE