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
Young people 'tortured' if stolen vehicle operations fail, Montreal police tell MPs
One day after a Montreal police officer fired gunshots at a suspect in a stolen vehicle, senior officers were telling parliamentarians that organized crime groups are recruiting people as young as 15 in the city to steal cars so that they can be shipped overseas.
'It was joy': Trapped B.C. orca calf eats seal meat, putting rescue on hold
A rescue operation for an orca calf trapped in a remote tidal lagoon off Vancouver Island has been put on hold after it started eating seal meat thrown in the water for what is believed to be the first time.
Man sets self on fire outside New York court where Trump trial underway
A man set himself on fire on Friday outside the New York courthouse where Donald Trump's historic hush-money trial was taking place as jury selection wrapped up, but officials said he did not appear to have been targeting Trump.
Sask. father found guilty of withholding daughter to prevent her from getting COVID-19 vaccine
Michael Gordon Jackson, a Saskatchewan man accused of abducting his daughter to prevent her from getting a COVID-19 vaccine, has been found guilty for contravention of a custody order.
Mandisa, Grammy award-winning 'American Idol' alum, dead at 47
Soulful gospel artist Mandisa, a Grammy-winning singer who got her start as a contestant on 'American Idol' in 2006, has died, according to a statement on her verified social media. She was 47.
She set out to find a husband in a year. Then she matched with a guy on a dating app on the other side of the world
Scottish comedian Samantha Hannah was working on a comedy show about finding a husband when Toby Hunter came into her life. What happened next surprised them both.
B.C. judge orders shared dog custody for exes who both 'clearly love Stella'
In a first-of-its-kind ruling, a B.C. judge has awarded a former couple joint custody of their dog.
Saskatoon police to search landfill for remains of woman missing since 2020
Saskatoon police say they will begin searching the city’s landfill for the remains of Mackenzie Lee Trottier, who has been missing for more than three years.
Shivering for health: The myths and truths of ice baths explained
In a climate of social media-endorsed wellness rituals, plunging into cold water has promised to aid muscle recovery, enhance mental health and support immune system function. But the evidence of such benefits sits on thin ice, according to researchers.