Calgary Stampede and the YYC Startup Ecosystem

Emmet McGonagle

Jul 07, 2022

Dust off your cowboy hat and lace up your boots - Calgary Stampede is reclaiming its pre-pandemic prowess, and Calgary’s startup ecosystem has a lot to gain from the festivities’ triumphant return.


Following a stripped-back iteration of the festivities in 2021 (during the coronavirus pandemic), this year’s festival is projected to generate $500 million in tourism for Alberta (source: CityNews).


According to Calgary Stampede - a “not-for-profit community organization that preserves and celebrates our western heritage, cultures and community spirit” (according to its website) - park visitors spend an estimated $345m annually in Alberta, the majority of which ($300m) is spent in Calgary businesses such as hotels, restaurants and shops. 


Stampede Park itself hosts more than 1,200 events each year across sectors including business, tourism, sporting, hospitality and community, welcoming upwards of four million guests along the way. 


These events create thousands of jobs across Calgary - including more than 2,500 volunteer roles from Stampede itself - contributing more than $540m to the Alberta economy.


Stampede itself also houses hundreds of vendors across its “modern retail and entertainment destination” The Market (located in the BMO Center), as well as artisanal hub The Maker's Market and the grounds’ expansive range of outdoor vendors.


An ‘Extra Boost of Business’


The coronavirus pandemic saw the first cancellation of Calgary Stampede in 108 years, with the organization announcing a loss of $26.5m in 2020.


According to the Calgary Herald, $3.1m of these losses were directly related to Stampede’s 10-day rodeo-related festivities, compared to $24m in profits the year prior. 


This year Ernie Tsu, president of the Alberta Tourism Association, maintains Calgary Stampede will be a haven for local businesses who may have struggled financially during the pandemic.


Speaking of this year’s festivities, Ernie elaborated: “Our downtown restaurants down in that Stephen Avenue area where companies are only starting to come back, they need that extra boost of business and the Stampede brings that.”


Do you have a question about angel investing? Get in touch with Valhalla Private Capital via our contact page.

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