4 ms·
I'm in Calgary and totally agree with your strategy. After a decade-plus of crazy-good economic times the city and province have had a tough couple of years due
by ticmasta 8y ago
I'm in Calgary and totally agree with your strategy. After a decade-plus of crazy-good economic times the city and province have had a tough couple of years due to macro (lower demand, increased US production) and micro (no market access) events. They keep talking about diversifying the economy through dramatic shifts in the focus of our start-ups, but (a) we have an entire generation of relatively young, super-educated people who know how to build real companies (from financing through execution) and (b) we have a non-O&G ecosystem of companies that has always been overshadowed by the energy sector. We don't need to radically shift to something new, we need to double down on the companies that are already showing traction in new areas and, more importantly, the people who have already shown they can build something valuable the last time around. In my mind this is defined primarily by what governments (municipal through federal) don't due vs. becoming activist partners. They need to focus on the ecosystem by removing barriers not picking winners. This will also likely require them to trim the fat that's accumulated over the past decade like every private company has been forced to do...