January 6, 2021
As businesses transition to remote work and digital operations, the high-tech industry has become indispensable. Platforms to support remote work activities, e-commerce, virtual events and other digital solutions are flourishing. According to the 2020 CBRE North America Tech-30 report, Vancouver ranks first in North America for high-tech software job growth, leading the 30 top tech markets in the U.S. and Canada. Compared to other high-tech hubs, Vancouver has moderate office rents and a growing industry labour pool that make it the third-best market in North America for resiliency and growth. Other tech-growth cities in the province, particularly Kelowna and Victoria, are seeing growth and attracting significant investment.
British Columbia (B.C.) continued to attract investments throughout the COVID-19 pandemic, raising $553 million during the first half of 2020 (up 31% from the same period in 2019). B.C. experienced a sharp increase in venture capital funding, while in comparable economic regions, funding declined.
B.C. businesses pivoted to produce sanitizer, personal protective equipment and medical equipment among other measures. Many businesses were able to stay active through the infrastructure and support that made online options possible.
Some companies reinvented themselves and are now on a stronger footing than they were before: digitization experts IPS, mimik and Spectrum became more relevant. E-Commerce specialist Freshline moved from a B2B model to B2C and shifted from a platform for fish products to one for all ranges of perishable products in their market. Spare, a transportation and mobility software company, is experiencing continued international success and is poised for more growth.
Others, especially in animation and game development, experienced a surge in content demand and continued to hire talent throughout this difficult period. Tech multinationals like Unity Technologies, Postmates, Fujitsu, Mastercard and Amazon continue to hire B.C. talent.
British Columbian communities and businesses are connected through a state-of-the-art communications network bringing internet connectivity to 95% of the province and making remote work options available to more regions.
Government accelerated British Columbia’s high-speed connectivity initiative during COVID-19 to support work-from-home and in-home entertainment options, especially in rural, remote and Indigenous communities where internet services had previously been less reliable.
Do a deeper dive on why investors choose British Columbia. Learn more about emerging and established tech expertise coming out of the province from our sector page, LinkedIn or Twitter feeds, or our YouTube channel. Curious about investment or expansion opportunities? Connect with a representative near you.
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