VIATEC posted an articleThe tech sector in Greater Victoria has a total economic impact of $5.22 billion and employs 16,775 see more
VIATEC releases Economic Impact Study of the Technology Sector in Greater Victoria
There is a total economic impact of $5.22 billion and the sector employs 16,775 people.
VICTORIA, BC (October 15, 2018) - The Victoria Innovation, Advanced Technology and Entrepreneurship Council (VIATEC), has surveyed local technology companies and commissioned an independent researcher (Alan Chaffe, senior economics lecturer at the University of Victoria), to collect and analyze the data - releasing a brand new Economic Impact Study.
The study shows there has been a growth of 30% since the last study was released in 2013:
The technology sector in Greater Victoria has a total economic impact of $5.22 billion and employs 16,775 people.
The tech sector contributes significantly to employment and economic output in both the local community, as well as throughout the Province of British Columbia. Growth in revenue and the number of technology firms for Greater Victoria outpaces the national average.
Greater Victoria is home to a vibrant, diverse, and successful technology sector that has been a major driver of innovation and economic growth for the BC economy. The technology sector in Greater Victoria has experienced significant growth over the past decade—with industry revenues (direct impact) increasing from $1.0 billion in 2004 to $4.06 in 2017. This represents a more than fourfold increase over this period.
The combined direct ($4.06 billion) and indirect ($1.16 billion) economic impact of the technology sector in Greater Victoria for 2017 was $5.22 billion—a 30% increase from the $4.03 billion estimated in 2013. The technology sector is responsible for a substantial portion of the region’s employment. In 2017, there were 16,775 employees in the sector.
The technology sector in Greater Victoria is expected to continue to grow. The number of technology firms in Greater Victoria is expected to increase, reaching over 1,000 before 2020. VIATEC recently adopted a strategic plan focused on supporting the region’s tech sector in growing to $10 billion in annual revenues by 2030. Based on the findings of this study, it is expected that this goal will be achieved if not surpassed in that time frame.
VIATEC (Victoria Innovation, Advanced Technology and Entrepreneurship Council), started in 1989. Our mission is to serve as the one-stop hub that connects people, knowledge and resources to grow and promote the Greater Victoria technology sector (Victoria's biggest industry).
We work closely with our members to offer a variety of events, programs and services. In addition, VIATEC serves as the front door of the local tech sector and as its spokesperson. To better support local innovators, we acquired our own building (Fort Tectoria) where we offer flexible and affordable office space to emerging local companies along with a gathering/event space for local entrepreneurs.
Our Focus Areas are: Regional and Sector Promotion, Networking and Connections, Talent and, Education and Mentoring. www.viatec.ca
Sadie Evans posted an articleUVic recognized as best Canadian comprehensive university see more
VICTORIA, BC (December 6, 2019) - Graduates from the University of Victoria are among the world’s most employable, according to a prestigious international ranking by Times Higher Education.
THE’s 2019 Global University Employability Ranking report identifies UVic as the best Canadian comprehensive university, and one of only nine Canadian universities overall, in preparing its students for the workplace, based on feedback from top international companies.
UVic prioritizes dynamic, hands-on learning as a core focus of its student experience, with research-enriched experiential programming that includes co-operative education (co-op) work terms, practica, internships, field schools, international exchanges, community service learning, research opportunities and more.
Seventy-five percent of UVic co-op graduates receive an offer of employment before they graduate, often returning to work for a former co-op employer in a full-time role.
“Students tell us that the hands-on work experience they gain at UVic is transformative,” says Andrea Giles, acting executive director of UVic’s Co-operative Education Program and Career Services. “They apply what they’re learning in class to solve real-world challenges, and in doing so, they develop confidence, connect with passionate professionals, and discover how they can positively impact the world around them.”
Student participation in co-operative education at UVic is on the rise, with 43 percent of eligible students taking part. Co-op integrates paid work experience with employers into students’ academic schedule. Last year, UVic co-op students completed 4,288 co-op terms with 1,350 different employer organizations around the globe, including 325 international work terms. Co-op is built right into programs for students in the faculties of engineering and business and available as an option for students in most other areas of study across the university.
Google, Tesla, the Canadian Space Agency, Global Affairs Canada and Western Digital Thailand are among the diverse employers who hired UVic students for co-op terms in 2019. Google and Tesla also regularly hire UVic graduates—currently, Google employs more than 50 UVic graduates, while Tesla has hired close to 20.
Here in BC, employers range from local small businesses to large-scale organizations. Companies such as AbeBooks turn to UVic to recruit new talent. Since 2011, the online book marketplace, which is a subsidiary of Amazon, has hired 84 UVic co-op students studying everything from software engineering and computer science to economics and global business. Amazon is likewise a long-time employer.
“AbeBooks has supported UVic’s co-op program for many years, integrating students into our technology and business teams,” says Arkady Vitrouk, chief executive officer of AbeBooks. “We take around 10 UVic co-ops each year and we are always impressed by their knowledge, skills and creativity. With around a dozen UVic alumni currently employed at AbeBooks, we appreciate having this institution on our doorstep.
View a brief video on UVic and the ranking’s results.
Tessa Bousfield posted an articleA comprehensive analysis that compares the BC tech sector against other sectors in the province see more
2018 BC Technology Report Card
Together with their partners at KPMG, BC Tech Association has released the latest installment of our BC Technology Report Card for 2018, a comprehensive analysis that compares the BC tech sector against other sectors in the province and against tech sectors in other jurisdictions.
A few key highlights:
- a 3rd straight A for BC's tech sector vs other industrial sectors in BC
- for the first time an A vs the tech sectors of other provinces
- a steady B- grade on economic inputs - no erosion since the last report but a clear call to action for more targeted initiatives related to talent and scale-up success.