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Technology of tomorrow starts at the Creative Destruction Lab

Published: December 13, 2023

Enbridge’s Fueling Futures grant funds program to help alternative energy startups ‘build something massive’

Could an abandoned oil well be transformed into a closed-loop geothermal system? Can storing hydrogen create greater efficiencies? Can we use bitumen beyond combustion?

Tech and science start-ups around the world are tackling—and solving—these kinds of complex problems.

Often, the founders behind these ventures need support to scale their solutions and commercialize their ingenuity for the betterment of our world.

That’s where Creative Destruction Lab (CDL) comes in.

“Our tagline is to ‘build something massive,’ ” explains Briana Falls, Head of Engagement at CDL-Rockies, operating out of the Haskayne School of Business at the University of Calgary in Alberta.

“CDL supports ventures developing new technology with the potential to be massively scalable and can solve some of our most pressing issues on a global level—issues like energy and food security,” she adds.

There are 13 CDL sites around the world—five in Canada, three in the United States, four in Europe and one in Australia. Each site is its own non-profit and is housed within a top-tier post-secondary research institution.

Ventures accepted into the competitive program receive critical business advice, in the form of mentorship, from world-class entrepreneurs and technical experts. Over nine months, these early-stage companies are equipped with the knowledge, business savvy, and connections they need to commercialize and scale massively.

“What (CDL) really found as a differentiator is our ability to act as a marketplace,” explains Falls.

“On one side, you have technical founders, who are subject-matter experts on their technology or product.

“And on the other side, you have world class experts who help to guide the founders on their business journey, de-risk their technology, and ultimately increase their opportunity for success and mass commercialization.,” she continues.

Each CDL specializes in certain streams. CDL-Rockies has three: the Energy stream, focused on areas such as alternative energy, bioenergy, hydrogen, and carbon capture and storage (CCS); the Agriculture stream, centred on agricultural technology and science; and the Prime stream, an industry-agnostic stream supporting technologies applicable across industries.

Enbridge is a new partner of the CDL-Rockies’ Energy stream. In 2023, we committed a $300,000 Fueling Futures grant over three years to support startups aiming to tackle challenges in the energy industry.

As a diversified energy company, Enbridge is uniquely positioned to help accelerate the global transition to a cleaner energy future. We’re advancing low-carbon energy technologies like hydrogen, renewable natural gas, and CCS. We’re also committed to reducing the carbon footprint of the energy we deliver, and to achieving net zero emissions by 2050.

Our Fueling Futures grant funds will be used to administer the Energy stream program. Participation in CDL is free for ventures, and all industry experts are volunteers.

Ventures at CDL-Rockies have the potential to make tangible changes in the energy industry—for the betterment of all. To date, CDL-Rockies has welcomed 326 participants, and those participants have raised $1.5 billion in capital and created 1,800 jobs. After graduating from CDL-Rockies, the value of these companies grew by a collective $4.7 billion.

“CDL’s biggest impact is helping founders and their technology be successful in solving real problems — whether it’s through creating their own businesses and/or partnering within industry to apply their product,” Falls says. “These ventures are developing the science and technology of tomorrow.”

(TOP PHOTO: A bot developed by Arix Technology, a CDL Rockies alumni company from its 2019-20 energy stream, for improved pipe inspection. Photo courtesy Arix Technology.)

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