27 Jan 2016 BC Tech by the Numbers: 2015 in Review
Written by Michael J. Kousaie, Head of Business Development, Technology, Toronto Stock Exchange and TSX Venture Exchange
Earlier this month, Bill Tam wrote a great blog post about the role that the BC technology sector is expected to play in building jobs and supporting economic growth in the province. The article is a good read and serves as an important reminder of a broader trend we are seeing across the country: tech matters. It matters to investors. It matters to governments. It matters to companies. It matters to the economy.
From my seat at Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV), I have a very interesting view of how the sector matters. In particular, I get to see companies from their earliest stages (growing up in some of our country’s amazing incubators and accelerators) through to maturity. I get to see public and private companies. And I get to talk to angels, VCs, and public company investors about their view on the sector. Through this lens, I’ve seen the sector evolve and grow in importance across the country. As I wrote in a recent article, tech is definitely back in Canada.
The story in BC is just as strong. Consider these statistics:
Clearly, 2015 was a good year for the tech sector in BC. What about 2016? Of course, it’s impossible to predict specific funding levels, IPO activity, etc. But, it is clear that BC has built a very strong foundation for further success. Some of the key pieces that are in place include strong accelerators and incubators (like BCTIA and HIGHLINE), supportive government initiatives, and (most importantly) a strong cohort of successful companies (both public and private) and entrepreneurs that provide important leadership, mentorship and support to the sector. With these pieces in place, there are lots of reasons to be optimistic about the continued growth and success of the tech sector in BC.
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