Only a few days into the Calgary Stampede, business executive Terry Rock had already attended 15 networking events.
“The Calgary Stampede is one of Calgary’s superpowers,” said Rock, who is president and CEO of Platform Calgary, a non-profit that helps launch tech startups. This year, Platform Calgary is the hub for a Stampede startup pitch party on Saturday.
While the Calgary Stampede has long been a catalyst for business growth, experts say it’s within the last couple of years that the city’s growing tech industry have gotten involved too.
“Our city is very connected. And this is an annual opportunity to renew connections with people you may not have seen in a while,” Rock said. “Sharing a pancake or a cold beverage with them, with country music playing in the background, is extremely valuable when you’re trying to get things done.”
Corporate Calgary has deep roots in the Stampede
Other companies have been longtime participants in the Stampede.
BMO’s relationship with the Stampede started back in 1884, for example. That makes it the oldest business relationship in western Canada, the company says.
BMO sponsors many awards at the Stampede, including the BMO Farm Family Awards and the Stampede Pride Day’s Western Trailblazer Award. The bank also supports Indigenous entrepreneurs with booths at the Treaty 7 First Nations Marketplace at Elbow River Camp.
“The partnership is an immense point of pride for our employees,” a BMO spokesperson said in an emailed statement.
Connections formed through Stampede are central to Alberta economy
The in-person connections made within industries, governments and economic development agencies are an essential part of Alberta’s call for investment, says Invest Alberta CEO Rick Christiaanse.
“Alberta is competing with other regions for major projects. And we hear often that the deciding factor is our western hospitality and make-it-happen attitude which is on display throughout the Calgary Stampede,” said Christiaanse.
The networking done at Stampede events brings attention to local startups and businesses looking to scale up, he said.
Whether it’s for networking, brand awareness or employee pride, many companies invest heavily in Stampede, said Deborah Yedlin, president and CEO of the Calgary Chamber of Commerce.
“Anything you do as a corporation or small business that benefits the community during an event like Stampede is absolutely viewed positively. I don’t think anyone should underestimate how important that community support is,” she said.
Stampede generates significant revenue for Alberta, businesses
After being cancelled entirely in 2020, attendance has bounced back strongly.
At the end of the sixth day of this year’s Stampede, the park’s turnstiles had recorded 877,447 visitors.
“There’s a sense that we’re going to exceed previous attendance records… There were about 1.2 million people who attended Stampede last year,” said Yedlin.
“We have about 16,000 hotel rooms in Calgary, and it’s pretty hard to find a place to stay. That tells me there’s a lot of interest in being at Stampede this year.”
An economic impact study by the Conference Board of Canada in 2019 found that over the course of a year, the Stampede generated $540 million for Alberta. This included a $282-million injection during the 10-day event itself.
Yedlin said the corporate parties and networking events that take place off Stampede grounds are key to the local business community.
Many companies drop hundreds of thousands of dollars on corporate Stampede parties, explained David Howard, founder of The Event Group. However, inflation-driven cost increases seen in the event planning space have led some companies to push their events to later in the year.
The Calgary Stampede runs until July 16.
