IT industries are now the cradle of development, in different sectors and categories. Calgary being a well-known city and one of the tech hubs in Canada boasts of successful IT industries. Some popular IT industries in Calagry include IBM, Cisco system, Microsoft, and other top tech. It’s not surprising as the economic system in Calgary favors IT industries. Let’s look at how vibrant the IT industry in Calgary is.
Understanding the IT Ecosystem in Calgary
Calgary is one of the most desirable cities in Canada for tech companies due to the growth of its IT industry. Following the pandemic, Calgary, Alberta, Canada officially shifted from being a small to a large IT market. Nearly 50,000 tech jobs in the city account for 6.9% of all jobs. This is the outcome of Calgary’s strong economy and highly qualified labor force
The Economist Intelligence Unit has put Calgary among the top 10 most livable cities worldwide for more than a decade. They are therefore, in general, a competitive climate for enterprises to flourish in North America.
Young professionals perceive Calgary as the place to establish a happy life and career, not just in the finance industry but also in other IT industries, from sustainable energy to e-sports, AI to aviation.
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The success of the IT sector in Calgary is largely due to a few important elements. These include the availability of a high-quality lifestyle, a skilled and talented workforce, and a diversified economy.
The IT sector in Calgary has grown to be a vital component of the city’s economic growth in recent years. The local IT industry is fascinating, in addition to the large number of globally held enterprises that call Calgary home.
Local startups like Peloton Interactive and Unity (3D content) are well-known worldwide. It keeps increasing every year, so this is just the beginning.
Top Global IT Companies Opening Headquarters in Calgary
Although oil and gas production still plays a major role in Calgary’s economy, the city has grown into a major center for technology. Technology related to artificial intelligence (AI) is well-known in Calgary.
Over the past five years, there has been a 22% increase in both tech talent and total tech jobs in Calgary, Alberta, making it one of the top markets in North America for young tech talent. With the greatest concentration of head offices per person in Canada, the city is seeing its biggest population boom in more than 20 years.
International and national talent is drawn to Calgary by its cheap taxes, inclusive neighborhoods, real estate at an accessible price, and thriving cultural environment.
The development of AI skills and economic diversification in Calgary is a priority for multinational technology companies including Mphasis, Infosys, De Havilland, IBM, and AWS. With $360 million in federal support, Calgary is also a major player in Canada’s Quantum Strategy.
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Furthermore, more AI businesses than in any other Canadian city are located in Calgary, including DeepMind Technologies Inc. (around 35).
As the only significant Canadian city to witness an increase in the value of venture capital investments from 2021 to 2022.
Calgary surpassed records in this regard thanks to the surge of digital companies, bringing in $647 million through 64 agreements.
To help businesses with digital transformations and sustainability, the IBM Client Innovation Centre (CIC) in the Beltline, Calgary office, Western Canada, opened its doors in February 2023. Over the next five years, the CIC hopes to add 250–430 new jobs in the fields of security, 5G, hybrid cloud, and AI.
Microsoft, Garmin Canada, and other top Tech industries
Microsoft has been investing heavily in Canada’s innovation sector over the last four years, and it opened its new headquarters there in 2022.
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Over 15,000 partners and cloud infrastructure are part of the company’s ecosystem, which boosts Canada’s GDP by over $37 billion. Through partnerships with the Digital Technology Supercluster, Microsoft has also provided support for 30 projects totaling $190 million.
In February 2023, Garmin Canada, which has a long history in the region and manufactures cutting-edge GPS, fitness, and outdoor products, opened a sizable addition to its Cochrane campus. About 300 STEM jobs are anticipated to be created by the expansion.
Applexus is a well-known business that has investments in Calgary. An international firm called Applexus has decided to locate its Canadian headquarters in Calgary. The company plans to invest $3 million in the city and generate over 100 jobs annually in the next five years.
Local Startups Development and Ecosystem in Calgary
Calgary has emerged as a major hub in the global innovation ecosystem, with strong sub-sectors including cleantech, finance, and agriculture.
Companies headquartered in Calgary, such as Neo Financial, Summit Nanotech, Attabotics, and BlueEarth Renewables, attained Canadian Narwhal status in 2023 when their valuations surpassed CAD 1 billion.
Few stand out in Calgary’s burgeoning startup sector. AITHR helps Canada’s automotive industry by easing inventory access for subprime auto lenders. Ayrton Energy is changing hydrogen transportation and storage by leveraging Alberta’s position as the country’s leading hydrogen generator. DealPoint simplifies the laborious process of acquiring private investment, and ENA Solution’s ENASTAT smart thermostat is transforming climate control in commercial buildings.
MedEssist’s clinical solutions increase pharmaceutical services, while Mercator AI drives tech adoption in more established areas of the economy, such as construction. OraQ AI brings innovation to the dental sector by using artificial intelligence to improve clinical decision-making. Fast provides an Early Payment Platform to help expand into the United States. Finally, WaitWell’s revenue is predicted to double after the state of Nevada adopts its digital queue management technology.
According to Startup Genome, Calgary is one of the world’s top 60 emerging startup ecosystems. With $647 million invested in 64 transactions in 2022 alone, the city’s startup valuation has more than doubled from $2.5 billion in 2020 to $5.2 billion in 2022.
The Opportunity The Calgary Investment Fund is backing the local venture capital firm Thin Air Labs Fund I, which intends to invest $8 million in Calgary-based startups. These advances reflect Calgary’s dynamic role in supporting regional entrepreneurs while also contributing to the IT industry’s expanding global significance.
Calgary’s Future in IT
Calgary’s future in technology is promising and vibrant. The city has a strong and growing IT industry, with a highly qualified labor force and a diversified economy.
Calgary is attracting top global IT companies, with many opening headquarters in the city and investing in its innovation sector. The city is also home to successful local startups and has emerged as a major hub in the global innovation ecosystem.
The Calgary Investment Fund is supporting local venture capital firms to further boost the growth of the IT industry. Overall, Calgary’s IT industry is poised for continued success and growth in the future.
How is the IT Industry in Calgary?
Calgary’s IT industry is thriving, with successful companies like IBM, Cisco Systems, and Microsoft. The city’s strong economy, skilled workforce, and competitive climate make it an attractive location for tech companies.
With a 22% increase in tech talent and jobs over the past five years, Calgary is attracting international and national talent. The city is also a center for AI, with investments from multinational companies and $360 million in federal support. The city’s startup sector, with valuations of over $1 billion, is also thriving.
Frequently Asked Questions on the IT Industry in Calgary
Where is the Silicon Valley of Canada in 2024?
The Silicon Valley of Canada will be largely known as Toronto by 2024, owing to its dense concentration of IT corporations, startups, and innovation hubs.
How is the IT Industry in Calgary?
The IT business in Calgary is expanding rapidly, aided by investments and the establishment of major industries such as fintech, cleantech, and agtech.
Will Calgary be the Biggest Tech Hub in Canada?
While Calgary is fast expanding as a technology hub, it is not yet the largest in Canada. Toronto is still the largest tech hub due to its size, depth of talent, and the presence of significant tech companies. However, Calgary’s technology sector is rapidly growing and is becoming recognized for its innovative contributions.
