The 5 Biggest B.C. Tech Trends of 2019
B.C.’s tech sector is getting more news coverage than ever before. In fact, there can be so much news that it’s tough to stay on top of everything that’s going on.
That’s why each month, I’ve been highlighting my five favourite stories that showcase the incredible work of the companies, entrepreneurs, and researchers who are helping turn British Columbia into a thriving, globally competitive tech hub.
But this month, I’ve decided to change things up a bit.
Instead of just focusing on the best stories from December, I’m going to look back at the biggest stories of the year. 2019 was a breakthrough year for our tech sector and these were the five biggest trends that dominated the headlines.
Silicon Valley North
What happened: An influx of Silicon Valley companies – including household names like MailChimp, Tile, Grammarly, and Quora – established a Vancouver presence in 2019.
What it means: This was arguably the biggest trend of 2019. Kate Wilson’s article in the Georgia Straight drew attention to it and Valley companies continued to trek north throughout of the year. The arrival of these companies will add thousands of high paying jobs and attract additional exposure to our growing tech sector. We also can’t talk about this Valley migration without mentioning the looming presence of Amazon, who could add up to 10,000 new jobs upon their arrival in 2022.
B.C.’s high-profile startups take centre stage, secure record-breaking capital
What happened: In what will go down as one of the greatest financial quarters in our tech sector’s history, B.C. companies secured $777M in VC funding across 49 deals. Burnaby-based Clio led the pack with a massive $250M Series D raise that turned heads across the country.
What it means: There’s never been a better time to be involved in tech and innovation in our province’s history. We have some of the most promising companies in the country, who are raising unprecedent capital, and changing the world from right here in British Columbia. As an interesting side note, there appears to be a changing of the guard as companies like Clio, Bench, Article, Trulioo, and Terramera emerge as the new flag bearers of our thriving tech sector.
Infusion of funding leads to watershed year for B.C.’s regions
What happened: The province’s regional tech communities had a year to remember. Some of the top highlights included VIATEC, KAST, and Accelerate Okanagan (AO) all securing federal funding; Rossland’s ThoughtExchange closing a $20M Series B round; Innovation Island and VIU bridging the gap between students and organizations in the Central Island region; and Jay-Z still having 99 problems, but compostable phone cases are no longer one of them.
What it means: The strength of our provincial tech sector is as much about the regions as it is the Lower Mainland. Our regional communities have always punched above their weight and in 2019 they took it to the next level. I’d like to specifically shout out VIATEC, who ended the year by raising 130K through their foundation and launching a Women’s Entrepreneurship Program, in collaboration with AO. I’ve personally had the pleasure of working with Dan Gunn, Rob Bennett, and the amazing team at VIATEC for years and it’s great to see the positive impact they continue to have on their local community.
Talent remains a hot-button topic, but things are looking up
What happened: Accessing, developing, and retaining talent continued to be a common pain point for our tech sector in 2019. However, there appears to be some light at the end of the tunnel, with reports by HR Tech Group and CBRE highlighting our province’s high tech wages, substantial tech job growth, and top five ‘brain gain’ ranking.
What it means: While the rapid growth of our tech sector exasperates the immediate need for qualified talent, it’s important highlight some of the ways we’re tackling this problem. VanHack, Launch Academy, and the provincial and federal governments are playing a pivotal in attracting high-quality foreign talent to our province. Digital skills training outposts like BrainStation, Red Academy, and Lighthouse Labs are funneling tech talent directly into local companies. And as PWC’s Cameron Burke noted earlier this year, maybe the talent already exists and we’re just not looking in the right places. We still have plenty of work to do on this front, but with government, academia, and industry all working together, we have the resources in place to tackle our talent issues head on in 2020.
B.C. cements its position as world leader in emerging technologies
What happened: Our cleantech, quantum computing, and AI sectors all experienced significant breakthroughs in 2019. VCs, PE firms, and the federal government all took turns dropping money into our cleantech sector, while Foresight announced plans to develop the province’s first ever cleantech cluster. D-Wave continued to make headlines through major funding and partnership announcements, but the development of a new quantum institute at SFU showcased the province’s commitment to ‘developing the innovations of tomorrow’. And lastly, our AI sector got a huge boost with the formation of AInBC, whose organizational goal is to establish B.C. as a global leader in AI within three years.
What it means: While most associate these industries with star-studded companies like General Fusion, 1Qbit, and Finn AI, several new companies like Open Ocean Robotics, Lumen5, and MetaOptima emerged as major players in 2019. Simply put, our tech companies are among the best in the world and our emergence as national leaders in industries that are changing the world reinforces our position as Canada’s top tech market.