Alberta's 'absolutely bonkers' tech boom reason for economic optimism
After years of economic uncertainty and calls for diversification, one sector in Alberta is going against the grain.
New offices and hubs are popping up around both Calgary and Edmonton as the technology industry experiences dramatic growth.
The province is now home to 3,083 tech companies, according to a study done by the Alberta Enterprise Corporation (AEC). That's compared to just 1,238 companies in 2018.
Those involved say it's pretty easy to sum up.
"It is booming," said Zack Storms of Startup TNT. "It is really booming."
Storms organizes investment summits, including a massive Alberta pitch marathon held this week.
He told CTV News there are thousands of people waiting to get into the provincial market.
"(This is) an all day showcase of Alberta startups," Storms said. "We've got 106 startups and we've got nine straight hours of pitches."
It's a microcosm of the emerging sector. Provincial grant programs and federal incentives are driving venture capital investment.
AEC data shows startups are pouring into the province and expanding quickly. It says between 2018 and 2020, the number of companies with 25 or more employees increased from 13 per cent to 25 per cent.
"We have awesome entrepreneurs that are building more companies, and they're adding more companies to the funnel," said AEC president Kristina Williams. "Also, we're growing the companies. It's a combination of a lot of things."
Much of the growth in Alberta is driven by investments in machine-learning tools and agricultural technology products.
"That means that people are coming from the traditional economies of Calgary," said TalentMarketplace founder and recruiter Qaid Jivan.
"Or they're transitioning into (a mindset of), 'how can tech help these economies?' It's just huge."
But Jivan says that boom has led to one issue -- employment.
Software developers are in high demand, and now that working from home is no longer an exclusive "tech perk," Jivan says companies are having to impress talent in new ways.
"It has been absolutely bonkers," he said. "There are people who are getting multiple offers who normally wouldn't be getting one."
Pitch competitor and Levelling Up founder Mike DeBoer believes it could be a good opportunity for Alberta talent.
"We are going to be tapping very heavily into the local economy for those developers," he said. "This is perfect time for us. There's very fertile soil for us to grow."
The incoming influx of openings is leading to some of Alberta's post secondary schools revamping curriculum to make sure young talent can enter the workforce.
SAIT is one of the facilities capitalizing on the opportunity, offering upgrading courses in its new School for Advanced Digital Technology.
CTVNews.ca Top Stories
More than 115 cases of eye damage reported in Ontario after solar eclipse
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
Last letters of pioneering climber who died on Everest reveal dark side of mountaineering
George Mallory is renowned for being one of the first British mountaineers to attempt to scale the dizzying heights of Mount Everest during the 1920s. Nearly a century later, newly digitized letters shed light on Mallory’s hopes and fears about ascending Everest.
Toxic testing standoff: Family leaves house over air quality
A Sherwood Park family says their new house is uninhabitable. The McNaughton's say they were forced to leave the house after living there for only a week because contaminants inside made it difficult to breathe.
Decoy bear used to catch man who illegally killed a grizzly, B.C. conservation officers say
A man has been handed a lengthy hunting ban and fined thousands of dollars for illegally killing a grizzly bear, B.C. conservation officers say.
B.C. seeks ban on public drug use, dialing back decriminalization
The B.C. NDP has asked the federal government to recriminalize public drug use, marking a major shift in the province's approach to addressing the deadly overdose crisis.
Loud boom in Hamilton caused by propane tank, police say
A loud explosion was heard across Hamilton on Friday after a propane tank was accidentally destroyed and detonated at a local scrap metal yard, police say.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
An emergency slide falls off a Delta Air Lines plane, forcing pilots to return to JFK in New York
An emergency slide fell off a Delta Air Lines jetliner shortly after takeoff Friday from New York, and pilots who felt a vibration in the plane circled back to land safely at JFK Airport.
OPP responds to apparent video of officer supporting anti-Trudeau government protestors
The Ontario Provincial Police (OPP) says it's investigating an interaction between a uniformed officer and anti-Trudeau government protestors after a video circulated on social media.