MobSquad is the first company to receive support from the new Opportunity Calgary Investment Fund.
The company provides clients in the United States with teams of top software engineers and data scientists working from satellite offices in Canada. It’s establishing a new business based in Calgary with hundreds of high-calibre software developers across Canada.
“We recognize the large and increasing demand for highly-skilled engineers in Silicon Valley and the challenges U.S. companies are facing with filling these roles,” said Irfhan Rawji, founder and CEO of MobSquad. “We’re excited to help fill this gap and provide opportunities for Canadians and highly-skilled immigrants to work remotely for some of the world’s leading technology startups.”
In a news release, officials said the project is approved for a $1.5-million investment from Opportunity Calgary Investment Fund. It will be delivered in phases as jobs are created. In addition to 150 new jobs in Calgary, MobSquad’s head office in downtown Calgary will oversee operations across Canada.
The $100 million Opportunity Calgary Investment Fund was established to “support catalytic investments intended to spur growth and create jobs in economic sectors strategic to the city.” It’s a wholly-owned subsidiary of the City of Calgary, administered by Calgary Economic Development with an independent volunteer board of directors.
“When city council dedicated $100 million to OCIF it was initiatives like MobSquad we had in mind. This is the first of many projects that will create jobs and act as a catalyst for growth in Calgary’s economy,” said Calgary Mayor Naheed Nenshi. “The decision by MobSquad to locate its head office and create positions in Calgary is proof that we have the talent here and we are able to provide the highly-skilled people that companies need.”
The fund has received 150 applications.
Criteria that the fund looks at include:
- economic benefits to Calgary in terms of investment and new revenue growth;
- number and quality of jobs created for Calgarians;
- alignment with key industries and sector;
- impact on the innovation and sector ecosystems;
- leveraged funding and alignment with strategic initiatives;
- social benefits to the citizens of Calgary.
Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald, including 12 years as a senior business writer.