Insights by Vatsal Shah
As a proud member of Calgary’s vibrant business community, I’ve witnessed firsthand how our city has become a beacon for both talent and investment. In just the first half of 2024, Calgary secured $346 million in venture capital across 33 deals, placing us third in Canada. For the first time, we’ve surpassed Vancouver, a milestone that highlights our city's growing economic potential.
What excites me the most is the long-term outlook. Calgary accounts for over 80% of Alberta’s VC deals and 90% of the total capital invested. These numbers demonstrate our resilience and growing prominence as a hub for innovation and sustainable growth.
Our cleantech sector, for instance, is booming. Local companies like ClearSky Global and Helcim are leading the way with substantial investments that align with the $61 billion opportunity in the Alberta Energy Transition. This not only points to a profitable future but to one aligned with sustainability and long-term impact.
Calgary’s ecosystem is rich with support for startups, driven by community-driven organizations and incubators like Platform Calgary and the Opportunity Calgary Investment Fund (OCIF). With nearly $84 million allocated to 30 projects since 2018, the economic ripple effect has been remarkable, creating 3,000 jobs and scaling over 800 companies.
Moreover, our talent pool is unrivaled. With more than 60,000 high-tech professionals, and the highest concentration of STEM graduates in Canada, Calgary’s tech sector contributed $8.1 billion to the local economy between 2021 and 2023 alone.
If you’re an investor seeking a market rich with opportunity and top-tier talent, Calgary offers an unparalleled environment for growth and success. Let’s talk about how you can be a part of this exciting future.
Statistics Drawn From Calgary Economic Development August 2024 Highlights -
Comments