The Pulse: Nov. 18, 2024

Hot on the heels of receiving US$6 million in new investment, a co-founder of hyperspectral imagery company Wyvern said space isn't the final frontier for Edmonton's startup ecosystem — it's imagination.

"I would love for people to see Wyvern as proof that you can build whatever you want here, and that there are no hard-and-fast limitations on you because of your geographic location," co-founder Callie Lissinna told Taproot. "(Wyvern) is one of the less likely things to have popped up here, but especially after closing this recent funding, we're well on our way to being a really strong business. So, I hope that Wyvern could, perhaps, inspire people."

Wyvern offers data-rich photos taken by satellites for industries as varied as agriculture and defence. The company announced its latest funding on Oct. 17. The round was led by Squadra Ventures. The Maryland-based venture capitalists corralled Silicon Valley star-maker Y Combinator (of which Wyvern is a grad), plus local investors like the University of Alberta Innovation Fund, Accelerate Fund III, and Brent Perrot, among others, to shoot for the stars. Wyvern has raised multiple millions in investment before, including US$7 million in 2022.

Lissinna said one goal for Wyvern is to build a client base with "three-letter agencies" based in the United States.

"We need to have a strategy for that segment of the market," she said. "We've already started hiring, and we've already filled a few of the positions."

Lissinna said she isn't sure the investment in Wyvern means will change the local aerospace industry. Instead, she said, it's more about the startup ecosystem and how it prepares companies for launch.

"Since we started Wyvern, we've seen a lot of new opportunities and resources be put in place around the city for folks with entrepreneurial aspirations," Lissinna said. "There are several resources that the (University of Alberta) has. Even in the downtown area, there are tons of communities that are forming."

Lissinna thinks entrepreneurs do well in Edmonton for reasons other than industry niches. If you build it, which she believes you can, they just might come.

"I wouldn't say that investors are specifically attracted to companies like Wyvern because of where we're located, but I would say that investors are attracted to great businesses," she said. "It's totally possible for people here to build a great business."

• Tensions arose at Edmonton city council last week as Mayor Amarjeet Sohi's process of introducing a list of budget amendments before considering changes from individual councillors faced criticism, with Coun. Tim Cartmell opposing the approach for lacking collaboration. While some councillors supported Cartmell's concerns about exclusion and partisanship, others defended the mayor's method, emphasizing its efficiency and collaborative potential. Sohi's previous amendment lists have passed successfully. Hosts Troy Pavlek and Stephanie Swensrude discussed the contentious meeting in Episode 285 of Speaking Municipally.
• Transit ridership in October was up 14% compared to the same month in 2019, but the Edmonton Transit Service faces a $13-million deficit to cover growing costs and demand. "We're seeing that our investments in transit are paying off," said Coun. Michael Janz. "We are building it, and they are coming."
• Canada Post workers in Edmonton have joined a nationwide strike, causing significant disruptions to mail and parcel deliveries, including city services and business operations, just ahead of the holiday season. The strike, involving about 55,000 workers across Canada, is driven by demands for better wages and working conditions, with negotiations at a standstill. The Alberta government has activated a contingency plan to manage critical mail services during the strike, while encouraging residents to use online or in-person services where possible. The city said residents are advised to avoid mailing payments, use online options for transit fares, and pay tickets online or in person.
• The Edmonton Police Service and the City's joint Encampment Response Team recently dismantled a cluster of makeshift shelters in a wooded area near the industrial area of 184 Street and 105 Avenue after a fire was reported. Coun. Andrew Knack visited the site and said permanent housing is needed to "meaningfully address this ongoing crisis." He called on the provincial government to develop a detailed plan of action to address the issue Alberta-wide.
• Two red panda cubs named Fred and George, after the Weasley twins from the Harry Potter series, made their debut at the Edmonton Valley Zoo, delighting visitors with their playful, mischievous behaviour. The cubs are part of the zoo's conservation efforts, as red pandas are an endangered species with fewer than 2,500 remaining in the wild.
• The River Valley Alliance spoke with CBC about its plans to expand the river valley's trail system to Devon. The RVA says it is shovel-ready for the 25-kilometre project, but it needs more funding to complete it.
• Two Edmonton mothers, Iris Toon and Jill Footz, have initiated a diaper drive to assist struggling parents with essential baby items amid rising costs. Toon, who operates a maternity store called The Fourth, and Footz, from Edmonton Playgrounds, are collaborating to collect 20,000 diapers for Edmonton's Food Bank by Jan. 31, 2025. The initiative, now in its second year, collected 21,224 diapers and $6,092 for the food bank last year.
• In Saturday's game between the Edmonton Oilers and the Toronto Maple Leafs, Oilers defenceman Darnell Nurse was left bloodied after a hit to the head by Leafs forward Ryan Reaves, who was ejected from the game. Reaves, who had already been suspended three times in his NHL career, including twice for bad hits, has been suspended for five games without pay. The Oilers have recalled defenceman Josh Brown from the AHL's Bakersfield Condors.
• Alberta Investment Management Corporation (AIMCo) saw its top leaders and board dismissed after clashing over governance and vision, with sources highlighting leadership and spending concerns under CEO Evan Siddall and his team, The Globe and Mail reports. Finance Minister Nate Horner cited rising costs not matching investment performance as justification, while former AIMCo interim chair Kenneth Kroner defended the fund's track record, arguing that misinformation could undermine AIMCo's future effectiveness. The Alberta government is widely expected to choose former prime minister Stephen Harper to be AIMCo's next board chair.
• Federal Employment Minister Randy Boissonnault apologized for unclear statements about his Indigenous identity, amid scrutiny over claims he was "non-status adopted Cree." He clarified that while his mother and brother are Métis citizens, he is still learning about his family's heritage. Two Conservative candidates in Edmonton, including Billy Morin, a former chief of Enoch Cree Nation, have called for Boissonnault's resignation, citing concerns about his past business dealings and identity claims.

Here are some events happening today in the Edmonton area.

• Tourism and Sport in Edmonton with Honourable Joseph Schow starting at 8:15am at Westin Edmonton
• Supportive Housing Visit starting at 11am at Sakihta Kikinaw
• Mixed Income Housing Model starting at 12pm online
• Library Lunchtime Concerts starting at 12:15pm at Edmonton Public Library (Stanley A. Milner)
• Messed Up Monday starting at 6pm at 9910
• Green Drinks November starting at 7pm at Bent Stick Brewing
• Poet's Haven starting at 7pm at Upper Crust Cafe

And here are some upcoming events to keep in mind:

• Nov. 27: Taproot presents: A conversation about housing at CKUA Performance Space
• Nov. 28: The Bee at Edmonton Public Library (Stanley A. Milner)
• Dec. 6: A Night of Rising Stars at St. Basil's Cultural Centre

Visit the beta version of the Taproot Edmonton Calendar for many more events in the Edmonton region.