Calgary seeing tech sector spike; shift might be reshaping city’s economy [Video]

While energy pumps in the most jobs and money, Calgary’s technology sector is starting to surge.

Alberta ranks fourth in the country for tech investment by a wide margin, but many are banking on Calgary’s potential, including Neo Financial, which hit a major fundraising goal this month.

“Raising over $360 million when the average fundraising is $1 (million to) $3 million. That’s creating new jobs. That’s creating more growth and really putting Calgary on the tech map,” said Jeff Adamson with Neo Financial.

Neo is one of five privately-owned Calgary start-ups valued at more than $1 billion.

“Other people around the world are going, ‘There must be something happening in Calgary,'” said Brad Parry with Calgary Economic Development.

The total number of tech companies in the city has ballooned by 94 per cent compared to five years ago.

“We’ve seen a 78 per cent growth in tech jobs in our …