B.C. becomes newest location for New York-based WeWork
A New York-based company that provides shared office space for tech startups and freelancers will attract up to 1,500 clients when it opens a new space in downtown Vancouver, strengthening British Columbia’s position as an emerging global tech hub.
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WeWork provides entrepreneurs, small businesses and Fortune 500 companies with the space, community and services they need to thrive. The company allows people to move home-based enterprises into a work setting and gives them an opportunity to collaborate.
WeWork’s 80,000-square-foot space will take up seven floors of the Bentall III tower. The Vancouver location, to be known as WeWork Burrard Station, will open by fall 2017. Members of the Vancouver location will have access to collaborative spaces and private offices, a global network of 100,000 members, and 130+ locations around the world.
British Columbia’s U.S.-based trade and investment team assisted WeWork in its move to Vancouver by providing location data and information on business trends and new sites, as well as supporting information on the B.C. small business sector and direct links to the startup ecosystem. The Vancouver Economic Commission also supplied additional insight and support to WeWork.
John Slavet, WeWork’s general manager, says that the decision to locate in Vancouver recognizes the increasing momentum of the city’s tech sector. He cites Vancouver’s ranking as a top global city and its location as a gateway to Asia.
Vancouver was recently named Canada’s number one startup ecosystem and 15th in the world by Startup Genome. The accolade is credited to the city’s wealth of entrepreneurs, highly skilled workforce, local and international investors, and top quality educational institutions. And with multiple technology clusters across the province, British Columbia has become a magnet for major global companies and fast growing startups. These firms are drawn to the diverse and cost-effective tech talent found here.
British Columbia also offers a stable fiscal environment that actively encourages investment, with competitive taxes, reduced regulations and many opportunities for growth. The BC Tech Fund, a $100 million venture capital fund, was established in 2016 to invest in emerging technology companies in British Columbia, including technology startups.
Find out how British Columbia’s thriving startup ecosystem can help your business succeed by contacting one of our international Trade and Investment Representatives