There is an economic transformation underway in Alberta and Creative Destruction Lab – Rockies (“CDL-Rockies”) is playing an important role in that transformation.
CDL-Rockies is focused on accelerating the commercial potential of the next generation of promising science- and technology-based ventures across a variety of sectors, including energy and agriculture.
Through a unique and highly collaborative approach that brings together respected mentors from across industries, geographies and disciplines, the CDL program creates a marketplace that allows for the efficient transfer of business judgement to founders.
BY-THE-NUMBERS:
In the first five years (2017-2022), CDL-Rockies alumni:
· Generated nearly $3 billion in equity value.
· Created more than 1,000 jobs.
· Raised over $880 million in capital (more than $325 million by Alberta based ventures)
The economic impact of CDL-Rockies’ alumni ventures is a testament to their ground-breaking ideas and hard work as well as the contribution of the CDL-Rockies community.
MEANINGFUL MENTORSHIP: HELPING FOUNDERS SEPARATE THE SIGNAL FROM THE NOISE
CDL-Rockies is one of 12 CDL locations worldwide, the first of which was started at the University of Toronto in 2012. CDL currently has five sites in Canada, three in the United States and four across the United Kingdom and Europe.
CDL has built an extensive network of mentors: highly respected individuals who are prominent business leaders and serial entrepreneurs, having founded, operated and exited businesses of size and scale, as well as internationally recognized experts from leading academic institutions.
CDL-Rockies is housed at the Haskayne School of Business at the University of Calgary. Operating three streams, CDL-Rockies admits 60 – 75 ventures each year through a competitive application process to participate in the nine-month objectives-based mentorship program.
CDL’s unique objective-setting process demands founder focus. It maximizes the value of time spent by mentors and founders to share knowledge and experience to increase the probability of success for the ventures.
From the heart of the Prairies, CDL-Rockies is home to a Prime stream and two specialized streams in Energy and Ag.
Prime: For founders developing technologies applicable across multiple industries (such as IoT, digital health and devices, logistics, cybersecurity). This stream captures the diversity of the renowned entrepreneurial spirit across the Prairies.
Energy: Operating from the epicenter of the Canadian energy industry, the Energy Stream seeks ventures that optimize existing energy systems as well as technologies that enable the evolution toward a low-carbon future. This includes energy systems optimization, alternative energy, energy storage, bioenergy, hydrogen, carbon capture, utilization and storage.
Ag: The Ag stream supports discoveries within science and technology that drive toward a sustainable agri-food system, focusing on founders building scalable solutions or disrupting current business models. This may include: sustainable agriculture & food security, ag biotechnology, precision farming, food safety & traceability, food technology and livestock health & wellness.
CDL-ROCKIES IS A CANADIAN NOT-FOR-PROFIT ORGANIZATION – CHARGING NO FEES, TAKING NO EQUITY AND RETAINING NO IP.
“CDL members roll up their sleeves. Not only do they contribute their time and judgement, the mentors also contribute their vast network. They can open doors for young people. This is huge.” — Chen Fong, (C.M.), Honourary Founding Fellow, CDL-Rockies and Professor Emeritus, University of Calgary
BUILDING THE BUSINESS LEADERS OF TOMORROW
In addition to supporting early-stage founders, CDL-Rockies’ helps build the skills and knowledge to prepare the business leaders of tomorrow. MBA students from both the University of Calgary and the University of Alberta have the opportunity each year to enrol in the CDL course as part of their curriculum. This course provides an opportunity for students to learn about venture finance, entrepreneurial thinking while also gaining hands-on experience supporting early-stage ventures with crucial business development support during the program.
“I love working in tech startups because it’s an adrenaline-fueled experience that’s comparable to riding a roller coaster. There’s a constant sense of excitement and uncertainty that keeps me motivated and engaged. The fast-paced environment and the opportunity to create something new and impactful are what truly excites me about working in this industry.” — Sylvia Wang, UCalgary MBA Student
CASE STUDY: AURORA HYDROGEN
Aurora Hydrogen is an Edmonton-based venture founded by engineers and professors from the University of Alberta and University of Toronto. They have developed a novel technology that uses microwave energy to heat natural gas without oxygen and water to produce hydrogen and solid carbon without carbon dioxide.
After graduating from the CDL Energy stream in 2022, Aurora raised a US$10 million Series A and are planning to build a demonstration plant in Fort Saskatchewan, AB, an emerging centre of excellence for development of hydrogen technology.
“What we’re proposing is a way to take natural gas, which is a massive resource in Canada but has carbon emissions associated with it and produce a high value clean energy source. We have all the infrastructure and industry expertise here and we are on the path to developing a clean, no carbon emitting fuel.” — Andrew Gillis, CEO Aurora Hydrogen
