Economy

  • Tessa Bousfield posted an article
    Biggest thing holding back the growth of our tech community is our ability to attract exp. talent see more

    Source: LinkedIn
    Author: Dan Gunn - CEO, VIATEC

    Getting Victoria's Tech Sector to $10billion by 2030

    VIATEC's strategic goal is focused on getting Victoria's tech sector from $4 billion to $10 billion in revenues by 2030. We call it the 10/2030 plan. We believe that the biggest thing holding back the growth of our tech community (just like everywhere) is our ability to attract experienced, senior talent. We need people who have scaled big, know what it takes and how to do it. 

    That said, those people are rare and have lots of options. Our companies have appealing opportunities for them but, in the eyes of those desired candidates, we do not have enough breadth and depth. As such, great candidates often look to larger cities where they feel more confident that there are a long list of viable companies that can use and would want their talents. It's a safer bet.

    To create more of the critical mass and awareness we need, the development of locally grown anchor companies are key. We call them Whales and are aiming to support the emergence of a $1b company with 1,000 staff. We would consider four new $250m or ten new $100m companies also a success. It's not so much about adding a $1b in revenue to the total as it is what companies like that can bring. The critical mass provided by bigger companies create attention, spinoffs and leadership that knows how to build great companies. This benefits every part of the ecosystem...big and small.

    The emergence of more locally founded and built anchor companies is a long-term goal. So, what do we do in the meantime? We set out to identify the highest potential leaders and companies and we provide them with advanced skills training.  We're not turning our back on medium size companies, lifestyle ventures or start-ups. We're focusing on building great leaders and every organization needs those. Programs that support our highest potential leaders and ventures will benefit the entire community. 

    Imagine our $4.06b tech sector and its 16,775 employees were one entity. That would make it a Fortune 500 company (or at least close). The vast majority of companies that size have programs designed to identify their top performers and their highest potential team members so that they can provide them with professional and personal development and training.

    That's what we want to do at VIATEC. Offer a Top Talent program to our members so that we can build the leaders we need to take us to $10b.

  • Tessa Bousfield posted an article
    Canada’s gaming industry contributes $3.7 billion to Canada's GDP, a 24% increase from 2015. see more

    Source: Betakit.com
    Author: Amira Zubairi

    Report: Canada's Gaming Industry Contributes $3.7 Billion to Economy

    According to a new report by the Entertainment Software Association of Canada (ESAC), Canada’s gaming industry plays a major role in the country’s economy.

    The “Canada’s Video Game Industry 2017” report indicates that Canada’s gaming industry contributes $3.7 billion to the country’s GDP, representing a 24 percent increase from 2015. The industry also created 40,600 direct and indirect full-time jobs in 2017.

    To compile the report, ESAC looked at gaming industry-related job postings and searches in Canada on job site Indeed.com between December 2015 and December 2017. Specifically, ESAC assessed which gaming-related jobs are growing and which jobs are gaining interest from job seekers.

    “Gaming is big business in Canada—and it’s also a big employer, with openings for game designers, producers, programmers, artists, not to mention business, sales, and marketing roles,” said Jodi Kasten, managing director at Indeed Canada. “There’s no doubt that behind the glamor and excitement, gaming is a serious business subject to ups and downs like any other major industry. New technologies bring innovation and a demand for talent and new skills which leads to the creation of new job opportunities.”

    According to the report, the demand for artificial, virtual, and augmented reality experts in Canada has grown significantly since December 2015. The searches for AR and VR jobs has grown by 148 percent.

    ESAC’s report also found that since 2015, job seekers’ interest in eSports and game designer jobs has grown by 134 percent and 96 percent, respectively. However, employers’ demand for these jobs has decreased by 57 percent and 33 percent, respectively. When it comes to game testing and quality assurance jobs, the report revealed that employers’ searches for game testing talent have grown by 114 percent, while job seekers’ interest has only grown 3 percent since 2015.

    ESAC’s study of game-related jobs revealed that Montreal is home to 41 percent of Canada’s gaming job opportunities, followed by Vancouver, which makes up 20 percent of gaming job opportunities, and Toronto, which makes up 13 percent. This does not come as a surprise as the Startup Genome’s Global Startup Report 2018 also showed that Montreal is the centre of Canada’s gaming industry, hosting nearly 35 percent of all gaming studios and publishers in the country.

    “Montreal has emerged as Canada’s leading hub for gaming job creation, and that comes as no surprise since it’s home to one the world’s largest video game industries,” said Kasten. “With 41 percent of Canada’s gaming job opportunities found here we can expect to see continued job seeker interest in this exciting industry.”

    View the full report here.

  • Tessa Bousfield posted an article
    In 25 years our tech sector has more than tripled from $1 billion in annual revenue to $3.15 billion see more

    Source: BCIC and VIATEC

    Over the past 25 years, Victoria’s technology sector has more than tripled from $1 billion in annual revenue to $3.15 billion. That type of growth doesn’t happen by chance.

    Countless individuals from different backgrounds including industry, academia and government have worked together to build the city’s advanced technology sector. At the centre of this major collaboration has been the Victoria Innovation, Advanced Technology and Entrepreneurship Council (VIATEC).

    VIATEC, part of the BC Acceleration Network, has served as a community hub, connected entrepreneurs to resources and information and been the largest local proponent of advanced tech in Victoria. As a result of their efforts, the city’s sector is now the largest private industry and boasts the following:

    • 900 tech companies
    • 15,000 workers employed
    • $4 billion annual economic impact

    To learn more about how VIATEC has helped to transform Victoria’s economy through the development of their tech industry, read the report: It Takes A Community: How Community-Based Organizations Can Help Grow Advanced Technology Companies in Regional BC