It's getting overshadowed by other investment opportunities in Alberta in oil and gas, and real estate, and I think opportunities are being missed," says Al Gourley, president of the consulting firm, Gourley and Associates.
"The great economy is a blessing, but it does mean this particular sector is competing against a very buoyant economy overall and these other terrific investment opportunities."Gourley
is also the chair of Edmonton's Deal Generator, a core program operated within TEC Edmonton - a joint venture between Edmonton Economic Development Corporation
(EEDC) and the University of Alberta Technology Transfer Unit
- that connects angel investors with entrepreneurs.
But while Gourley
says Deal Generator has made a difference, with total financing of about $10 million for technology-related companies, Alberta life sciences companies still have a bit of an uphill battle.
The expansion won't change the program's focus, says Gourley
, but there will be more money for companies.
agrees the prominence of the energy industry has made it harder for other sectors to grab a share of the limelight.
"When you go further afield and think of investors outside Alberta, they would not immediately see Alberta as a hotbed of medical (or other) technology opportunities because of the dominant image of the province as a centre of oil and gas," says Gourley
Having one of Alberta's life sciences companies score a major breakthrough would also help the sector, says Gourley
"We haven't had our health investors hit that bases-loaded home run with a health technology investment," says Gourley
, Edmonton-based CV Technologies
- known across the country for its lead product COLD-fx - is already a star player for the life sciences team, says Gourley
."They're having such a bang-up year, their revenues are up and their earnings are up."Gourley
is also optimistic when it comes to the provincial government.
"I'm not too negative on the (provincial) government, frankly.I think we are seeing that they're paying more attention," says Gourley