1st grant from Opportunity Calgary Investment Fund handed out

The first grant from the city's new $100 million Opportunity Calgary Investment Fund has been handed out.

City council created the fund last year and on Thursday it was announced that a $1.5 million investment was going to MobSquad.

The company provides Silicon Valley startups with software engineers who work remotely from Canadian satellite offices.

Mayor Naheed Nenshi says MobSquad's plans for Calgary tick a lot of boxes for a good investment.

"It's an investment that's about transforming the economy. It's an investment that is about good, decent jobs for technically trained people, many of whom are unemployed right now," he said. "And it's an investment about a new kind of business coming in to downtown Calgary.

MobSquad has located its head office in the Edison Building on 9th Avenue S.W.

The company aims to create 150 new jobs in Calgary.

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