In the fourth quarter of 2021, the site’s participants eclipsed the $1 billion threshold of equity value creation — a figure that currently sits at $1.3 billion.
Equity value creation is the overarching performance metric of the Creative Destruction Lab (CDL) program and measures a company’s growth and progress after they graduate from CDL. It is the total increase of the company’s value due to their participation in the CDL program and includes capital investment and market capitalization to gauge the total enterprise value of a venture.
“I am very proud of the substantial progress we have made since our launch in 2017,” says Alice Reimer, site lead for CDL-Rockies. “I see first-hand the incredible impact that this program has in our community. The alumni companies and MBA students, our network of mentors who volunteer their invaluable time, faculty, corporate and individual partners, the Rockies team and all those who have supported us along the way — every CDL stakeholder contributes significantly and we would not be celebrating this milestone today without their efforts.”
CDL-Rockies is one of 10 Creative Destruction Lab sites around the world, the first of which was started at the University of Toronto. Each site brings together experienced entrepreneurs, investors, and subject matter experts to accelerate the growth of early-stage science and tech-focused companies.
The CDL program delivers objectives-based mentorship that enhances the performance of technical founders, increasing their probability of success, which makes it a highly sought-after program with interest from around the globe. CDL charges no fees for participation and takes no equity from participating ventures.
- $1.3 billion in equity value creation, of which $535 million created by Alberta-based companies
261 venture participants
- $569 million in capital raised
- $240 million raised by Alberta-based companies
- +650 jobs created by CDL-Rockies alumni companies, with over 250 created in Alberta
“Quite simply, the CDL program works,” says Haskayne Dean Jim Dewald. “Ventures that participate in the program receive mentorship, guidance and advice from the people who have been where they’ve been — and succeeded. It’s been a real game-changer. CDL is Canada-founded, mentorship-first and helps innovators find the signal from the noise.”
Adds Reimer: “CDL-Rockies is establishing itself as a leading player in Calgary’s economic transformation as we continue to introduce new technologies and ways of thinking into the innovation ecosystem. Our momentum is growing and we look forward to celebrating and sharing the impact made from the next billion in value created.”
Original article by UCalgary News