In decades past, if you asked someone outside Canada what they knew about Calgary, you’d probably get a predictable answer: oil, rodeos, and maybe the 1988 Winter Olympics. But ask the same question today, and you might hear something different.
Calgary is drawing increased interest from international venture capital, with investors from Silicon Valley to Seoul looking at opportunities in the city’s growing tech sector.
This isn’t just a feel-good story about a city reshaping itself. The numbers back it up.
Calgary now ranks among the fastest-growing tech talent hubs in North America and has recently outpaced Montreal in venture capital deals. And according to the Canadian Venture Capital and Private Equity Association, investments in Canada reached $7.86 billion across 592 deals.
The city’s tech sector is expanding beyond startups, with growing activity in AI, life sciences, and next-generation data infrastructure
At the center of this transformation are investors like Harish Consul, founder and CEO of Ocgrow Ventures, and Brad Parry, president and CEO of Calgary Economic Development (CED). Both have a front-row seat to Calgary’s evolving tech landscape — and are playing a role in its growth.
Speaking at this week’s YYC DataCon 2025, both Consul and Parry will share their insights alongside a lineup of experts.
So, why is Calgary suddenly a top destination for investment? Let’s break it down.
Betting on Calgary’s next unicorns
Consul, a Calgary-based investor, has spent years in venture capital, with his firm, Ocgrow Ventures, making early investments in companies like Amazon, Shopify, and Viome. While he has worked in markets around the world, he sees significant potential in Calgary’s growing tech sector.
“The ecosystem is absolutely world-class,” says Consul. “We are the fastest-growing tech market in North America right now — faster than Ottawa, Waterloo, Vancouver, Austin, Miami, Silicon Valley, New York.”
That’s not just local boosterism. Consul says Calgary has become an attractive option for companies looking to scale, offering a combination of affordability and access to talent.
“A software developer today makes a higher salary in Calgary than Toronto or Vancouver,” he adds. “Cost of living is half, so it’s an easy decision in terms of attracting talent.”
While backing startups is important, Consul’s investment strategy is about connecting them to global opportunities.
His firm actively builds relationships in India, Dubai, and the Middle East, helping Calgary-based companies scale internationally.
“We need to communicate even better,” he says. “One of the things we’re working on is these global corridors with Alberta… to foster that collaboration even further.”
Calgary is no longer a “best-kept secret”
If investors like Consul are fuelling Calgary’s rise, Parry and his team at CED are making sure the world knows about it.
For Parry, the numbers tell the story. “Calgary did 63 [venture capital] deals last year, and Vancouver did 64,” he says. “So you’re starting to see diversification of investment dollars happening here.”
One of the biggest sectors catching investors’ attention? Life sciences and AI-driven healthcare.
“When you think about the second-largest cancer research hospital in North America being based in Calgary, you start to see people pay attention,” says Parry.
“That attention is translating into real deals. In just the past few months, Calgary secured a $5 million investment from a Korean life sciences company, further solidifying its reputation as a growing biotech hub.”
Another major advantage? Calgary’s business culture is fundamentally different from other major tech hubs.
“If somebody calls me and I can’t help them, I can introduce them to somebody else, and I know that person will pick up the phone,” says Parry. “That’s not like everywhere else in Canada.”
That kind of collaborative ecosystem makes Calgary attractive not just to startups, but also to international venture capitalists looking for markets that foster growth.
The road ahead: Calgary’s advantage in connection and community
Calgary’s growth as a tech and investment hub has been driven by a mix of investment, leadership, and innovation. But beyond funding and policy shifts, the city’s collaborative business culture has played a key role in shaping its tech ecosystem.
Consul says the importance of fostering relationships not just within Calgary, but on a “global scale.”
Unlike other major tech hubs, where investors, founders, and policymakers often operate in separate worlds, Parry and Consul say Calgary’s innovation economy is built on direct, open lines of communication, and they see the momentum growing.
Where that momentum leads will depend on what happens next. But for those watching Calgary’s evolution, the question is no longer whether the city can build a thriving tech sector — it’s how far it can go.
DataCon 2025 and how AI and healthcare innovation are drawing investment to Calgary
Both Consul and Parry will be speaking at YYC DataCon 2025, where they will discuss Calgary’s growing role in AI, life sciences, and investment. They are both featured on the panel “Revolutionizing Healthcare: The Role of AI and Data in Life Sciences Innovation,” which will explore how AI-driven advancements are transforming healthcare and biotech.
What started as a small event a few years ago has grown into a large-scale gathering of data, AI, and innovation leaders. This year, it’s expected to draw more than 60 speakers and 2,500 attendees — including investors, startup founders, and policymakers.
“[The event] sends a message: there must be something happening here,” says Parry. “This conference has grown organically, and now that it’s starting to hit its stride, it’s amazing to see.”
For Consul, the event is an opportunity to showcase Calgary’s potential on a world stage.
“We are entering the most exciting period in health and longevity,” he says. “And if there’s any one sector that’s going to be affected more with AI, it’s healthcare.”
Expect discussions on everything from AI-powered biotech breakthroughs to the role of data in global investment strategies.
With both Parry and Consul on stage, the conference helps demonstrate Calgary’s emergence as a global tech hub.
To get tickets to the event, visit YYC DataCon’s website here.
Digital Journal is the official media partner of YYC DataCon 2025.
