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How to weather a market downturn: a practical guide for Alberta tech businesses to come out strong
Leaders at technology companies in Alberta, like tech CEOs all over the world, are knee-deep in a shake-up in the capital markets. Money is no longer flowing like water.
For Alberta innovators that means the spotlight is back on revenue and profitability, and teams everywhere are calculating their runway with the capital and revenue streams they’ve got. And running parallel scenarios to buy time to the next raise.
Alberta’s record-breaking capital in the past two years made headlines in Canadian tech news. The investment growth was critical in building Alberta’s profile as an emerging tech market and a cause for celebration. But the billions of dollars in programs and aid that poured in to get the economy going during the pandemic, coupled with low-interest rates, tipped a bull market in venture capital into bubble territory. A market correction was bound to happen.
Practical guidance for Alberta tech businesses in a market downturn
The good news is that Alberta is no stranger to boom and bust cycles. We have the benefit of considering lessons learned from past cycles.
With the luxury of experience on our Accelerate Fund team, and a macro view across our portfolio, we share this article in hopes it’s a practical guide to Alberta startups about capitalizing on your strengths and business fundamentals to come out strong after this market cycle.
No founder needs another frantic article advising you to hunker down and preserve capital right now.
Our aim is to help Alberta founders and tech businesses navigate the market downturn with shared lessons in three areas:
- Building strong companies
- Being a strong leader
- Raising the right capital, at the right time
Plus see examples from Accelerate Fund portfolio companies who are capitalizing on their strengths including PayShepherd, Truffle Systems, Userful, G2V Optics, StellarAlgo, Gradient MSP, Helcim and Virtual Gurus.
