‘Release the animal spirits’: Derrick Hunter on why entrepreneurs are key to Canada’s economic recovery

Episode Description In this episode of Alberta Edge, Derrick Hunter, a Calgary-based investor and philanthropist, lays out a vision for Alberta’s economic future built on entrepreneurship, risk-taking, and diversification—without abandoning the province’s energy strengths. The conversation examines how Alberta’s evolving economy fits into Canada’s broader challenges around productivity and competitiveness. Hunter, CEO of Bluesky Equities and a major supporter of The Hub, frames entrepreneurship as far more than startups or tech disruption. At its core, he argues, it is about problem-solving. That’s why he calls for entrepreneurial thinking to be cultivated across society—from classrooms to boardrooms—if Canada hopes to reverse weak productivity growth. The episode highlights a quiet but significant shift underway in Alberta’s economy. Hunter points to the surge in tech startups and venture capital activity in Calgary over the past six to eight years—a trend that accelerated after the last oil downturn. Rather than a break from energy, he describes it as an expansion, with innovation spreading into energy tech, agriculture, finance, and beyond—challenging the idea that Alberta is a one-industry province. Asked what sets Alberta apart, the discussion points to meritocracy and an open networking culture as the province’s “secret sauce.” Alberta’s boom-and-bust history, Hunter argues, has fostered an environment that rewards execution, tolerates risk, and judges people more on results than pedigree. Hunter also took aim at Canada’s broader cultural barriers to growth, particularly the so-called “tall poppy syndrome” that punishes success and dampens ambition. That mindset, he warned, stifles innovation and weakens Canada’s ability to compete globally. On diversification, Hunter rejected the idea that new industries must come at the expense of oil and gas. His answer was a clear “yes, and.” The goal, he said, should be to use Alberta’s existing capital, expertise, and infrastructure to grow multiple sectors at once—reducing vulnerability without dismantling what already works. Hunter’s work, including initiatives like the Hunter Prize for Public Policy, reflects that same philosophy: pairing grassroots entrepreneurship with big-picture thinking about Canada’s future. As Alberta balances its role as an energy powerhouse with a growing innovation economy, the message was clear—sustainable growth will come not from choosing one path, but from building many at the same time.