EACOS is an advocate for Edmonton’s tech-enabled startup community. We are comprised of 13 individuals from scaleups, startups, seed companies, students, and investors. Our mandate is to be a voice for our peer-startups, activating and aligning resources with the needs of our technology community at large.
Mayor Don Iveson’s 2018 State of the City Address expressed the dynamics of deploying private capital into Edmonton companies:
“As it stands right now, we don’t have enough local investment committed to our local innovation ecosystem. Our entrepreneurs are usually having to look outside Edmonton and often outside Alberta in order to get it. And, at the same time, we have a lot of local money being sent out of Edmonton to be invested in funds managed outside of Alberta…“A lot of early-stage companies in Edmonton don’t require cash in the millions. Their needs for seed funding are usually in the tens of thousands. A magnitude that’s entirely accessible within Edmonton.”
Edmonton entrepreneurs have expressed the challenges of attracting local and outside capital into their companies. However, we recognize that without attractive deals to be had, investors will rightfully choose to deploy capital elsewhere. EACOS’s objective is to not only identify levers for action which may increase private capital deployed in Edmonton, but to address the underlying issue of increasing the number of investment-ready companies in Edmonton. A focus on forming companies, developing MVPs, raising seed (founders, family, and friends) capital and preparing for (and setting expectations for) external private capital (Angel, early VC) will result in both the unlocking of local capital and the attraction of external capital - money follows good deals. We believe that focusing on “top of funnel” and creating investable opportunities will result in the growth and maturity of the entire ecosystem.
Critical levers for this increase may include:
Critical levers for this may include:
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