TOWN OF CANMORE AGENDA Committee of the Whole Council Chamber at the Canmore Civic Centre, 902 – 7 Avenue Tuesday, March 19, 2019 at 1:00 p.m. A. CALL TO ORDER AND APPROVAL OF AGENDA 1. Agenda for the March 19, 2019 Committee of the Whole Meeting B. DELEGATIONS 1:00 – 1:45 1. Innovate Canmore 1:45 – 2:00 2. Banff Canmore Community Foundation 2:00 – 2:45 3. Tourism Canmore Kananaskis C. MINUTES 2:45 1. Minutes of the January 22, 2019 Committee of the Whole Meeting D. STAFF REPORTS 2:45 – 2:55 1. 2018 Protective Services Year End Report 2:55 – 3:05 2. 2018 Fire- Rescue Year End Report 3:05 – 3:20 BREAK 3:20 – 3:50 3. 2018 Annual Report of Municipal Development Plan Indicators and Measures Purpose: To update Council on the Municipal Development Plan and how Town activities are meeting this Plan. E. COUNCILLOR UPDATES 3:50 – 4:05 1. March 2019 Councillor Updates F. SERVICE AREA REPORTS 4:05 – 4:20 1. March 2019 Service Area Reports G. COUNCIL RESOLUTION ACTION LIST 4:20 – 4:25 1. Council Resolution Action List as of March 1, 2019 H. BOARD AND COMMITTEE UPDATES 4:25 1. Bow Valley Regional Housing 2018 Highlights I. IN CAMERA None 4:25 J. ADJOURNMENT Agenda prepared by: Cheryl Hyde, Municipal Clerk Page 1 of 1 B-1 3/1/2019 Presentation to Canmore Town Council Tuesday, 19th March 2018 Brian McClure, President Matthew Brown PhD, Chief Technical Officer “The enduring competitive advantages in an economy lie increasingly in local attributes that competitors cannot match ……. Knowledge, Relationships, Motivation……the focus should be on high growth, technology – driven innovation (“Technovation”) industries with high wages.” Michael Porter, Harvard Business School, Economic Development “Cluster Strategy” YEAR 1 STATUS – “Report Card” The Centre for Technology, Innovation and Entrepreneurship WWW.INNOVATECANMORE.COM ● Background; Phase 1 – Phase 2 ● About Us ● Community Partners ● Co-working and Residency Programs ● Programs and Events March 19, 2019 Committee of the Whole 1 p.m. Page 2 of 176 1 3/1/2019 TECHNOLOGY, BUSINESS & ECONOMIC DEVELOPMENT MODEL (Page 3) Feasibility Considerations – TECHNOLOGY ● Positioning in the Provincial and Federal Technology Ecosystem, “Nature of Competition” ● Research Centre vs Technology Incubator/Accelerator ● Software vs Hardware ● Science Focus (AI/Machine Learning vs Exponential Technologies) ● Economic Clusters ● Key Relationships – Public and Private ● Product Focus – Niche Products vs “Unicorns”; short development time ●Sectors –Important to Canmore Community; strong Alberta Research capability TECHNOLOGY, BUSINESS & ECONOMIC DEVELOPMENT MODEL (Page 3 cont'd) Feasibility Considerations – TECHNOLOGY (cont'd) ● Key Factors for Success: Create Technological Competitive and Comparative Advantage ● Key Performance Indicators for Innovate Canmore; Access to “tech talent” ● Risk/Reward Analysis; No direct affiliation to University based R&D Conclusion: Adoption of a “Technovation” Strategy with focus on the Successful Commercialization of new Product Technology within 3 years March 19, 2019 Committee of the Whole 1 p.m. Page 3 of 176 2 3/1/2019 TECHNOLOGY, BUSINESS & ECONOMIC DEVELOPMENT MODEL (Page 4) Feasibility Considerations – BUSINESS ● Corporate Structure: Not-for-Profit vs Private Corporate ● Operating Structure: Volunteer vs Permanent Employees ● Funding Models: Grant funding vs Private Equity ● Key Relationships: Public and Private TECHNOLOGY, BUSINESS & ECONOMIC DEVELOPMENT MODEL (Page 4 cont'd) Feasibility Considerations – BUSINESS (cont'd) ● Business Model Development: Accelerate Timeframes & Acquisition of Resources ● Key Factors for Success; Create Business Competitive & Comparative Advantage ● Key Performance Indicators for Canmore: Acquisition of “tech talent” and Startup Ventures ● Risk/Reward Analysis; We do not receive Grant funding Conclusion: Adoption of a “Technovation” Strategy with focus on the Successful Commercialization of new Product Technology within 3 years March 19, 2019 Committee of the Whole 1 p.m. Page 4 of 176 3 3/1/2019 TECHNOLOGY, BUSINESS & ECONOMIC DEVELOPMENT MODEL (Page 5) Feasibility Considerations – ECONOMIC DEVELOPMENT ●“Canmore is not investment ready”; SuperNet access, Affordability ● Why Technology/Why Canmore; Economic Diversification & Resilience ● Tech talent availability Local Access to Knowledge & Financial Capital ● Land Use; Limited land base for future expansion within a potential Phase 2 Development of a campus-style Technology Innovation and Development Centre of Excellence TECHNOLOGY, BUSINESS & ECONOMIC DEVELOPMENT MODEL (Page 5 cont'd) Feasibility Considerations – ECONOMIC DEVELOPMENT (cont'd) ● Key Factors for Success: Development of a Community based, integrated technology ecosystem ● Key Performance Indicators: Community wide “buy-in”/local strategic collaborations ● Risk/Reward Analysis; “Narrow window of opportunity-we can get left behind” Conclusion: Adoption of a “Technovation” Strategy with focus on the Successful Commercialization of New Product Technology within 3 years March 19, 2019 Committee of the Whole 1 p.m. Page 5 of 176 4 3/1/2019 CURRENT UPDATES (Page 6) ● Residency Startup Companies: 4 (March 2019); projected 6 (July 2019) & 12 (Dec 2019). Estimate 20+ (Dec 2020). ● New Collaborations: University of Saskatchewan/ Global Water Security Group; University of Calgary School of Engineering/Cumming Medical School; Creative Destructive Lab, Calgary ● Residency Company Funding: Alberta Innovates; Canmore Angel & Venture Capital Fund ● Innovate Canmore Funding: Calgary Foundation; Minister of Economic Development ● Phase 2 Development of a Technology Innovation & Development Centre of Excellence - Land Use: University of Saskatchewan Campus Proposal (Letter of Intent: 25,000-50,000 sq. ft) in a collaboration with Innovate Canmore PHASE 2 DEVELOPMENT (Page 7) Feasibility Considerations ● University of Saskatchewan Letter of Intent (25,000-50,000 sq. Ft) ● Timing: 2021/mid-2022 completion ● Development size: 50,000-75,000 sq. ft campus style modules of 25,000 sq. ft each ● Land Requirement: 3-5 acres ● Cost: $ to be determined ● Funding: Ministry of Economic Development; Commercial/Private ● Contribution of Town of Canmore owned Land: lnnovate Canmore Economic lmpact Analysis of location of the Phase 2 Development vs Other Uses - Viz. comparison of annual economic value/acre for alternative uses (April-May 2019) ● Application to extend Project Deadline to June 30th 2019 March 19, 2019 Committee of the Whole 1 p.m. Page 6 of 176 5 Town of Canmore COMMUNITY GRANT REPORT 1. Or8anization: lnnovate Canmore 2. Year Funded: Iate 2017 3. Amount of Grant Money Received: 525,000 4. Contact Person: Brian McClure, President 5. Phone Numben 403-707 -8171 6. What were your grant project accomplishments (Describe your proiect's milestone and outcomes)? Established in December 2017, lnnovate Canmore's Vision is to create, nurture and develop an integrated technology ecosystem in Canmore and the Bow Valley culminating in the establishment of an internationally recognized, campus style Technology lnnovation and Development Centre of Excellence; referred to as the Phase 2 Development. [see attached lnnovate Canmore Project - lnitial Perspectivesl Within this vision our Goal is to support the development of new startup entrepreneurial talent to create innovative technology products and market-driven companies translating science and technology innovation into commercial success. This Goal is supported within the lnnovate Canmore Phase 1 "pilot model" whose Focus is to build a vibrant Co-working and Residency community of researchers, developers, and entrepreneurs to work, learn and collaborate to develop their startup ventures to be globally minded but locally based. See rrj'.,( ',u, !nnovateaa !1n1or€.tcm The grant project funding provided lnnovate Canmore with the financial capacity to research the Federal and Provincial technology space to determine that Canmore's business positioning in that space was best served by focusing our efforts on: *Software development {small physical footprint + high economic value+ access to localtech talent) * AI/Machine Learning (high rate of domestic & global investment) * Develop niche high value products with short development times that disrupt markets * Sectors that are important to Canmore and have a strong Alberta Research capability. Life Sciences & Health Care, Clean Tech, Clean Energy, Geoscience and Earth-Space Sciences, Education. *The Development of the Technology lncubator & Accelerator business model. This technology sector research included, but was not limited to, meeting with well established players in the domain including Volta Labs (Halifax N.S.), Creative Destructive Labs, Velocity, the Alberta Machine lntelligence lnstitute, Alberta lnnovates, the Alberta Ministry of Economlc Development and Ministry of Finance, the University of Alberta (Computer Science Dept), the University of Calgary (Computer Science Dept; Cummin8s Medical School; the Schulich School of Engineering), the University of Saskatchewan (Global Water Security Group). This research has, in turn, facilitated the build-out of the lnnovate Canmore Phase 1 business Model to date, which has in the past 12 months accomplished the establishment of: *a Technology Development Team of local PhD's with expertise in the selected industry sectors * an Education Team that has developed a Partnership collaboration with the Canadian Rockies School Board and the Stoney Education Authority to develop a technology curriculum in the March 19, 2019