Downtown at 'tipping point' in quest to become Edmonton's tech hub, report finds

The Downtown Business Association wants to help the city's thriving tech industry find a home in Edmonton'score.

The association has put forward five recommendations in a report released Wednesday on howEdmonton downtown in particularcan attractleaders in the techindustry.

The recommendationsinclude ideas such asestablishing an accelerator program for downtown-based techcompanies and retaining homegrown talent.

Downtown "is at a tipping point," the report says.

"We are punching above our weight in research, and we have had significant wins with world-renowned companies like Google DeepMind recently moving downtown.

"However, we need to keep getting big wins, or we are at risk of being leapfrogged."

DBA executive directorIan O'Donnell said hisorganizationis working to build up the so-called "innovation corridor," an area home to tech companies which spans from NAIT to the University of Alberta.

"We certainly see ... that downtown is that nucleus, that epicentre of that district and we really want to build off the strengths,"O'Donnell said.

Nearly 400 tech companies in city

There are 394 tech companies in Edmonton, with just over 40 per cent of those companies providing IT services, according to theAccelerating Tech in Downtown Edmonton: Impacts and Opportunities report.

Of the total number of tech firms in Edmonton, 44 per cent are considered start-ups, having only been around since 2014, reads the report.

Tech companies were initially defined in the documentas those that provided communications equipment or computer hardware but over time, the term has come to include software and applications that use coding as well.

The DBA creates a report each year on a topic relevant to the downtown business community. Thedocument, including the one released Wednesday, iscompiled by anMBA studentwho is employed bythe association.

Growing industry

Techcompanies continue toattracttalent to the city, the report said.

In 2018, there were 28,400 tech employees in Edmonton. Thenumber of employees in the tech sector has grown by 26 per centover the last fiveyears, according to the document.

O'Donnell said with a growingindustry, a vibrant downtown core is key. He believes Edmontoncan compete with Canada's larger cities when it comes toattracting businesses.

"I think we need to as some people in the [tech] community will say get up on the rooftops with our megaphones and broadcast what we're doing in this city," hesaid.

But O'Donnell and the DBA said the industry needs proper office space to grow and morefinancialsupport from all three levels of government.

The report shows that 65 per cent of Edmonton'stech companies are looking for funding.

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"Innovation is key," he said. "If we're going to have a new normal in this province, tech is going to be a great way to get [there]."

He stressednow is the time to invest.

"We're going to be left behind," O'Donnell said. "This industry moves quicker than anybody can imagine. We don't have months and years to wait. If we don't move today, in a very collaborative and very thoughtful way, we will be left behind."

'It is the time to wave that flag'

Jeremy Hayward,president of Solut, an IT strategy company located downtown, agreesthat now is the time to support Edmonton's tech community.

"It is the time to wave that flag," Hayward said. "I think as Canadians especially, we don't brag I think we're a little too nice sometimes. I think we need to be more proud of what we're doing here."

Solut was firstlocated on the south side relocated to new space downtown.

"Our lease was up last year and I gave our team the ability to choose it was a resounding 85 per cent that came back and said, 'We want to stay downtown,'" Haywardsaid.

He saidit's not just people but companies that are seeing the vibrancy of the core as well.

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"I think we could capitalize on that and attract those businesses to come down here.Jobber is here. Google'sDeepMind is here. Why can't we keep that going?"