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SEF’S LONG- TERM SUCCESS RESTS ON THE IDEA THAT THE TRUE VALUE OF AN INVESTMENT CAN BE MEASURED IN MORE THAN JUST DIVIDENDS.
says. “And I thought, if you wake these babies, I swear, I am going to lose it.’”
Although she didn’t have experience in the energy sector, Stacey did have two decades of experience in IT, as well as a general understanding of electrical systems. As she developed plans for the Grengine solar battery generator and folding solar panel, she began to realize the potential this technology held for communities around the world.
“Where we are, especially in Alberta, we are so privileged in terms of our energy. It’s like a non-issue here,” she says. “So when I learned this I thought, ‘Wow, okay, what I’m building has a potential not to just be a good business, this could change the world for people who are living in poverty.’”
Even though the business was in
its nascent stages, Stacey knew she
was onto something big. When she was ready to build the idea into something more, she approached SEF for financing, and Bisbee immediately recognized the potential.
Even though most of SEF’s clients operate outside of a traditional business model or corporate environment, many of them have developed the skills needed to succeed and are ready for growth. It’s
Bisbee’s job to listen to each client, and help them identify what’s needed in their plans.
“If you can just give people some tools and try to understand where they’re coming from and how their financial statements might look a little different than somebody else’s, the inherent core of a business operation is in fact there,” she says.
“If we could use this model and actually trust these people and give them the support and the development to actually wield these tools effectively, we might change things altogether in the economy, for the better.”
Over the years, the projects and industries SEF has touched have covered a broad scope, ranging from the development of solar-powered, portable generators, to the construction of below market and supportive housing. Other projects have sought to have broader impact, like the creation of modular, responsive pharmaceutical manufacturing labs for use in remote locations, or an app that maps out locations of inclusive, accessible restaurants and hotels for people
with disabilities.
“Think of every way debt financing might be used, and we’ve probably done one of them. Startup financing, growth finance, specific project investments, buying trucks, buying buildings, helping build buildings. Whatever you can think of, we’ve probably done it,” laughs Bisbee.
SEF’s long-term success rests
on the idea that the true value of an investment can be measured in more than just dividends.
And that, notes Bisbee, gets to the heart of what it means to do business in Alberta.
“A lot of the financial systems here started as cooperatives, right? Credit unions, the Alberta Treasury Branches, that whole, ‘We’ll do it together as a community’ kind of thing is at the core of who we are,” she says.
“It all goes back to communities working together to get stuff done.”
ON THE
FAST TRACK
From businesses who are just starting
to develop their business plans, to organizations who need advice or investments to help them grow globally, the Alberta Scaleup and Growth Accelerator Program provides support to companies.
The program is the result of a two- year study done by Alberta Innovates
to identify how to best support small businesses and startups looking to grow.
“We realized we had a gap in our ecosystem that we needed to shore up and address,” says Doug Holt, associate vice president of Investments with Alberta Innovates.
“Ultimately we decided that bringing in some top talent from around the world in the form of accelerators was the best path forward.”
So in 2021/22, five business accelerators were brought to Alberta, offering a range of supports to companies at different stages of growth. Going through the program, entrepreneurs take granular looks at their ideal customer profiles, the problems they’re trying to solve, and what markets they should be targeting.
“The cachet that comes with having graduated from one of these programs tells the investor that they’re confident
in what the business is, and that their assumptions have been scrutinized, their business model has been scrutinized,” says Holt. “They’ve been vetted by way
of the accelerator, so it lends a lot of confidence when you’re trying to make an investment on that side of the trade.”
Since the program’s launch, 169 Alberta companies have received services from Scaleup GAP pre- accelerators, and 65 companies have graduated from a global accelerator. The program has resulted in $147.5 million investment raised, 118 new jobs created, and more than $12 million in company revenue growth created.