Multi-faceted and dynamic, Vancouver’s Tech & ICT sector is rapidly evolving while drawing global attention and the world’s top talent.
Today, companies of all shapes and sizes — including some of the industry’s biggest players — are choosing Vancouver as the place to do technology business.
Vancouver is now on the industry map such that Bloomberg Businessweek has called it “the new tech hub,” a place offering “world-class talent and few immigration headaches” as well as “great views in a convenient time zone.”
- Vancouver has three of Canada’s four tech unicorns (startups valued at more than $1 billion), namely Slack, Hootsuite and Avigilon
- The industry includes:
- nearly 101,000 tech professionals across British Columbia (BC), with some 75,000 working in Vancouver
- more than 7,000 companies across BC
- The industry generates more than $23 billion in revenue and $15 billion in GDP
- BC’s tech hub is located in downtown Vancouver, a major draw — and a proven factor in increasing overall productivity
- The sector includes: Software as a Service (SaaS), social media, business intelligence, security and financial tech, e-commerce, and web technologies.
- Wireless technology is at the forefront of this sector. This is evidenced by the fact that Canada’s Centre of Excellence for Wireless Commercialization – Wavefront – is headquartered here in the city. BC now has 1,200 wireless companies employing 10,200 people, with industry revenues topping $3 billion. Further proof that this subsector is thriving lies in the fact that the Canada Accelerator and Incubator Program (CAIP) recently awarded over 1/3 of their funding to accelerators located in Vancouver in order to help these innovative entrepreneurs build better tech companies.
- A Startup Visa, championed federally by passionate Vancouverites, dedicated solely to attracting the sector’s top global entrepreneurial talent has helped the city become a true talent magnet
- The sector boasts some major global and homegrown players, including Microsoft, Amazon, Cisco Systems, Samsung, SAP, and Zenefits, as well as Absolute Software, ACL Service, TELUS, BuildDirect and Vision Critical.