VIATeC Announces the 2011 VIATeC 25

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December 12, 2011

Andrew A. Duffy
Times Colonist
aduffy@timescolonist.com

Victoria, BC – December 9, 2011 – Victoria's technology sector was on show on December 8th to the local community and the world at the Crystal Garden during the biennial Discover Tectoria event - previously known as Island Tech.

And through the displays, demonstrations, panel discussions and opportunities for anyone curious to see, hear, touch and try out various aspects of the sector, it is likely to become clear that the $2-billion industry is continuing on a growth curve.

The list of the top 25 local technology companies, by revenue, which was unveiled at Discover Tectoria's VIP Reception by the Victoria Advanced Technology Council, suggests the environment is very healthy.

According to VIATeC executive director Dan Gunn, the total revenues of the top 25 have grown to $820 million in 2011, a five per cent increase over 2010. The median revenue figure for companies on the list is now at $16 million, up from $15 million last year and $11.5 million five years ago.

Gunn said the industry is doing very well, noting the larger companies in the have been recording growth between 5.0 and 7.5 per cent year over year.

"They tend to be a good barometer for the rest of the industry," he said.

There is rarely much change on the annual list, but this year there are two new companies in the top 25 - Starfish Medical and Shipconstructor Software.

One of the familiar faces on the list is Reliable Controls, another company whose growth seems to reflect the state of the high-tech sector as a whole.

The 25-year-old company is in the midst of doubling its footprint in Victoria with a second building to ease the strain at its existing 4,000-square-metre facility in View Royal.

The new building, built to LEED Platinum specifications, is expected to be finished next summer and will house Reliable's research and development department, sales, marketing and administration while giving up the whole of its existing 4,000 square metre building to manufacturing.

Tom Zaban, Reliable's vice-president of marketing, said they are squeezed in their existing facility though they have targeted a measured approach to growth over the years.

"Our goal is not to be the biggest or fastest, or the company with the most market share. Our job is to have the most satisfied customers in the industry," Zaban said.

"We have seen steady, double-digit growth year over year for as long as I can remember," he said, noting the company has doubled in size over the last five years.

Reliable's products, which monitor and regulate energy, heat, light and water use, tend to be used in commercial and institutional buildings, and their own will be no exception.

The $9-million build will establish a naturally ventilated two-storey building with no duct work or air handlers, but instead use a chimney-like system that draws air through the sides of the building where louvres control the amount of air. Cold air is heated if needed, while warm air rises naturally through the centre of the building.

There is also radiant infloor heating and cooling, LED lighting throughout, a rainwater collection system that will be used to irrigate landscaping and treated so it can be used to flush toilets and other non-potable uses, and plenty of energyharvesting technology made by Reliable and controlled wirelessly.

Zaban said it will be a showcase for their kind of product. Screens in the lobby and the company website will show everyone how the building is doing from an energy-efficiency standpoint.

Gunn said that's the kind of innovation that will be on display at Discover Tectoria. VIATeC rebranded the city as Tectoria earlier this year to draw attention to the size and influence of the industry.

"We've been doing this every two years since 2003 and now we get the sense people know about the tech sector, their awareness has increased but they don't necessarily understand it," he said.

"They need to get out and touch and try things and talk to people from these companies to understand what high-tech means for them, their kids."

The event is expected to draw about 3,500 people, including nearly 2,000 students who were bussed in from around the region.

Results of the 2011 VIATeC 25 survey were announced at Discover Tectoria's VIP Reception on December 8, 2011, where over 300 members of the tech community gathered to celebrate the end of another successful year.

To be eligible for inclusion in the VIATeC 25, a company must be a legally incorporated technology company founded or with headquarters in Greater Victoria, and must be among the 25 largest technology companies in Greater Victoria, as ranked by revenues.

KPMG assisted VIATeC with the development of the survey and gathering and compiling the resultant data for the final list.

The 2011 VIATeC 25 (in alphabetical order):