Alberta tech commercialization gets $178 million

Alberta's new action plan Bringing Technology to Market is a $178 million dollar plan to promote a series of key actions within the tech business maturity cycle. Starting with research, development tax credit programs (out of Iris Evan's portfolio), while also increasing investment capital for home-grown technology specific businesses, thus, directly impacting the start-up community. Yep, that's right boys and girls in Palo Alto, San Fran and the greater Silicon Valley, Alberta is open for business. We're not just about your oil anymore.

Of course, when I say that we have a strong tech sector in Alberta, but that it's just "underground", people mistakingly always think I'm talking about the advancements made here in Oil and Gas. To suggest anything otherwise is laughable. That said, what I am actually referring to is the guy in his cubicle in the basement at the U of A pounding away on a laptop with busted keys building semantic search bots...who basically nobody knows about...or the advancements in nanotechnology that will continue to change our world, or the world beating non-destructive testing process of chip wafers in a way that doesn't destroy as many, or the sugar substitute made from all natural products, or the nanofluid guy who can take iron out of blood, or the nano spray guy who can dramatically improve the functionality of any electronics board with a "spray" or the mobile development guy or the...I could go on...

So does it make sense for fusedlogic to pursue some of these new dollars in some way? Hmmm possibly, although don't expect a fresh funky start-up to appear with my name on the directors list in the near term submitting an application to IVAC. Nope, fusedlogic's own action plan is already in place and being implemented...and that's another story.

Some were talking at the event about now being faced with being in competition with the government and how that's a bad thing for them. People who may have looked to generate a living from the VC realm, positioned either up stream on the consulting side (as I used to be) or somewhere down stream... Frankly I don't subscribe to that perspective. I would argue that Minister Horner's portfolio is going to need a lot of increased capacity AND FAST. So instead of whining, these guys should show they're worthy of being considered for work and step up. That said, I would have preferred that they had continued to munch on their sandwiches instead of asking me what fusedlogic did, sheltering me from their lack of vision and creative business skill-sets.

Please Doug, don't put this cash in the hands of these apple heads...(sorry small prayer in the form of a rant there)

Overall this announcement is recognition that the government has been listening to those (and I include myself in this group) who have been saying for years that there hasn't necessarily been a shortage of funds in this province, (although we can always use more) it's out there for sure, if you know where to look and are discreet.

Rather, that money was constantly complaining about a shortage of companies "worthy" of funding. I remember that many adopted a 2 hour rule, they wouldn't consider a deal more than 2 hours flight time away from their home base and yet were being forced to because of the above complaint. I will also offer that there still tends to be more of what I would call "uneducated" money...not that these sources were or are stupid in any way, just that they were from a different business background and didn't understand many of the tech business models as well as one would prefer. Imagine going to these same sources today and saying "Ok, our model is to give everything away for free for the foreseeable future." Sorry, old school cash doesn't get building a community, never mind old school angels, this goes for others like muni governments too, folks in many cases who need this help most, they're still dominated with...well...I'm not going there...

Luckily anyway for the ICT or in particular social media guys there's plenty of successful models out there to leverage in the name of "educating" the money.

So as of yesterday, now in Alberta there is (theoretically) both, very public funds AND very public expertise to properly prepare these hot entrepreneurs and their companies for the REAL WORLD. Granted, if you compare this announcement to the boys and girls down on Sand Hill Road...this is petty cash and yet a much needed boost nonetheless. I'm more excited about the spirit and intent behind this announcement rather than the cash itself actually.

My only hope is that these up and coming Alberta stars heed these next few words well. When someone presents you with a term sheet worth $5 Million dollars over 3 years for a 40% equity stake of your business, and they understand your market and can provide an immediate impact...TAKE THE DEAL. Put your greed under wraps along with your egotistical belief that everyone thinks you're a superstar as much as you do and take the deal. There most likely won't be another one coming your way, just ask those who've pitched relentlessly to get to that point only to have some bone head quash the deal because of the reasons previously stated. You can argue the merits of this statement with me later once you're on the cover of INC. as the hottest CEO on the planet of a billion dollar Alberta company...which is when you should still be representing Alberta at your most humble...

By the way, want to know what the status of rural broadband is? Simple, there's a market and a flawed business model combined with misinformation...Rural municipalities can't give this stuff away for free, no muni can or should. You must charge for it to be sustainable and it must reach the outskirts...the technology easily exists for long distances and to cast a wide net.

And actually, the question shouldn't be about the "status of rural broadband"...rather it should be the status of rural leadership...the last mile is more about that than the technology to service rural communities on a sustainable basis...

Want to know more...get invited to watch Motorola show off their technology during the upcoming Indy race and I'll see you there...