A thriving innovation festival does more than create culture, boost creativity and foster a sense of community. It is crucial to the province’s economic health and global competitiveness. As a region, Alberta is in a place to establish a hub of innovation and connectivity by investing in a world-class innovation festival.
During its inaugural year, C-Tribe was able to host two festivals, garner 650 attendees, bring together 45 speakers, work with an array of over 50 partners, and produce over $100k in economic value for the region.
World-class events and festivals are a driving force in the Canadian economy even during recessions (Enigma Research Corporation). There are significant economic benefits for the city, and the return on investment is measured by:
- Spending by the C-Tribe Festival itself
- Increased revenues earned by the C-Tribe Festival and increased contributions to GDP and taxes
- C-Tribe attendees and guests spending money within the community, enhancing the local economy, supporting restaurants, bars, hotels, travel, and other tourism establishments
- New employment and induced employment opportunities by creating jobs, seasonal work and C-Tribe considered as a market for services
- Increased international partnership potential with fortune 500 brands given the nature of the Innovation Festival
- Targeting wider audiences that span the globe, and attracting greater tourist attention
- The potential of international media attention that is received by the city before, during and after the event. C-Tribe can attract journalists and opinion leaders that amplify the image of Edmonton
- Influencing companies in attendance to consider creating innovation arms within their businesses and hiring the local population to do so
We project for the July 2019 event that attendees will increase to 20,000, and we can demonstrate $34.1M in economic impact for Alberta. We will plan out four days worth of programming with a diverse array of talks, performances, wellness classes, art installations, gourmet food, and capped off by the music festival; the highest attended portion of the experience permitting we attract favorable performances.