Stakeholders, Resources
& Business Landscape
What does The Red Mile offer?
Business Landscape
17th Ave is a “one-stop-shop” that boasts a diverse range of restaurants, coffee shops, bars, retailers, services, and amenities. The neighbourhood provides consumers with abundant choice - the various price points, cultures, and experiences cater to a wide range of consumers’ wants and needs. 17th Ave provides a great space for entrepreneurship in Calgary. There are many local, trendy businesses that bring innovative concepts to life on 17th Ave. For example, Lulubar, Model Milk, and Pigeonhole are all local, chef-inspired restaurants - located on 17th Ave - that are ranked in Canada’s Top 100 Restaurants (Canada’s 100 Best, 2020). There is also a great diversity seen in the cuisines offered - for instance, Don’t Yell At Me is a Taiwanese bubble tea chain, Blanco Cantina offers Mexican food, and just down the road, The Coup is offering a twist on vegetarian and vegan dishes.
17th Ave’s best features are its unique mix of businesses and its rich culture and patronage. The neighborhood is often described as a vibrant and inclusive community as it provides an experience regardless of the time of day. There is also natural park space such as Tomkins Parks where lively street performers and pop-ups are a common sight. Consumers and businesses value 17th Ave as they both benefit from the high walk score of the neighborhood - ranked third in Calgary (“Living in Lower Mount Royal”, 2021).
Who are the stakeholders on 17th Ave?
Stakeholders
There are plenty of stakeholders who share a mutual interest in the wellbeing of Calgary’s 17th Ave.
However, there are 6 key groups who are most sensitive to major changes.
Business Owners
Business owners are one of the biggest stakeholders because businesses make up most buildings along 17th, and are often the owner’s main source of income, where running them is a full-time job.
Consumers
The people that keep these businesses running are the consumers, the ones who come to 17th Ave. to pay for goods and services.
Landlords
There are also landlords, who own property in the area, as well as the residents who reside in these properties
Residents
Residents living in and around 17th Ave. are important since they directly influence and are one of the main consumers in the area. From eating out, biking, walking, these residents are directly impacted by any changes or additions to 17th Ave.
Students
The students of Western Canada and Saint Mary’s High School also hold a stake, since many of them pass through and contribute to 17th Ave.'s population going to and from school. Because of these groups’ active involvement in occupying 17th Ave and shaping its culture, they have been identified as the main stakeholders.
City of Calgary
The City of Calgary as a whole, since the success of 17th Ave affects the city’s appeal, economy and satisfaction of Calgarians.
What are the current resources available and what are their limitations?
Resources for Established and New Businesses
Support Programs
Calgarians have access to various resources if they are looking to maintain, develop, or even start their own business. Considering the current pandemic, one of the most accessible resources are online classes. Websites that contain hundreds of videos ranging from “how to start a business with no money” to “managing your small business” can be accessed through widely used platforms such as Skillshare or LinkedIn Learning(The Business University, 2021; Simson, 2017). If entrepreneurs want a more integrated experience, there are a variety of local workshops available, such as the Alberta Small Business Marketing Workshop on Meetup.com(Meetup, 2021), Calgary Board of Education’s Small Business – Get Started course(Calgary Board of Education, 2021), or the University of Calgary’s Empower program, which aims to help immigrant women start their own business(Enactus, 2021).
Main Resources
Innovate Calgary
Founded in 1986, Innovate Calgary has 35 years of experience running its accelerator program. They provide access to infrastructure, equipment, expertise, and startup support to the local entrepreneurs. Their knowledge transfer and commercialization services include intellectual property management, licensing & company formation, technology & innovation marketing, supporting research partnerships, and startup programs & services.
Currently, Innovate Calgary primarily focuses on running its incubator centre for the University of Calgary. But their support for the innovative ecosystem at the University of Calgary can be expanded to the 17th Ave Retail and Entertainment district. Innovate Calgary can provide the necessary tools to promote innovation-driven startups on 17th Ave. Moreover, the current business owners can seek assistance in modernizing their dated business model and compete with bigger corporations. Innovate Calgary can also run programs that promote 17th Ave as a potential business district for budding entrepreneurs at the University of Calgary.
Creative Destruction Lab
Creative Destruction Lab (CDL) delivers an objective-based program for massively scalable, seed-stage, science and technology based companies. They provide mentorship from successful entrepreneurs and angel investors who have been through the several stages of a startup. There are plenty of opportunities to raise capital and get business development support for 16 potential streams of venture. These range from agriculture, climate, and energy to artificial intelligence, blockchain, space, and much more.
The entrepreneurial landscape of 17th Ave lacks support organizations for small, localized companies looking for larger long-term growth. Collaborating with CDL will bridge the gap and provide local entrepreneurs the opportunity to expand their startups outside of the 17th Ave. ecosystem. CDL already has a branch in Calgary at the Haskayne School of Business. So, getting them involved in diversifying the entrepreneurial landscape of 17th Ave, and indirectly Calgary, outside of the agriculture and energy sector will boost the economic development. The presence of organizations like CDL will help retain talent in the city. Young entrepreneurs would not have to move to another region in search of growth opportunities and mentorship.
Platform Calgary
A new innovation centre will be opening up in Fall 2021. Located in the heart of Calgary’s East Village neighbourhood, the Platform Calgary Innovation Centre will help create connections for local innovators, driving new economic growth and job creation in Calgary. The Innovation Centre provides a single point of access to resources, supports, programming and events to help startups successfully launch and grow their business.
In collaboration with Innovate Calgary, Platform Calgary can provide seminars, workshops and networking events that will provide entrepreneurs of 17th Ave. access to top talent and expertise from across Canada and beyond for industry meetups and pitch nights between entrepreneurs, investors, and founders.According to Platform Calgary’s website(https://www.platformcalgary.com/innovationcentre/), their goal is to make Calgary a global hub for startups and innovation by increasing the number of technology startups in Calgary by ten times to 3,000 core tech startups by 2031, in turn, creating tens of thousands of jobs, and adding $10B to Calgary’s GDP.
Getting their focus on the 17th Ave. BIA will help expand and inspire innovation in the entrepreneurial ecosystem. Local entrepreneurs will have access to top tier mentorship and business and technical development to modernize their business model and compete in the technology-era.