Canada

Vancouver

Late-Globalization Phase

Vancouver has a diverse range of tech sector strengths where startups thrive, including Cleantech, Fintech, Life Sciences, AI, VR/AR and Digital Entertainment.

Shivam Kishore
Manager, Tech Sector Growth at the Vancouver Economic Commission

Sub-sector Strengths

Cleantech

The Canadian government has announced a $700 million investment in the country’s Cleantech industry. Vancouver is home to 25% of all Cleantech companies in Canada, with more than 220 Cleantech companies employing approximately 3,500 people. Recently, six companies based in the Vancouver ecosystem were named to the 2019 Global Cleantech 100. General Fusion, a developer of utility-scale fusion power, has secured $127 million in funding to date.

Blockchain

The world’s first Bitcoin ATM was built and commercially operational in Vancouver. Some of the earliest blockchain projects in Fintech and the energy sector were conducted by BTL, headquartered here. The Vanbex Group completed Canada’s largest initial coin offering by raising $33 million with a $65 million market capitalization. Dapper Labs, a blockchain-based experience startup, raised $15 million in Series A funding led by Venrock and Alphabet in 2018.

Why you should invest in Vancouver

SOFTWARE STARTUP OUTPUT
900-1,200
GLOBAL AVG.
1,010
ECOSYSTEM VALUE
$10 bn
GLOBAL AVG.
$5 bn
Top 10 Global Ecosystem
Blockchain
Top 20 Global Ecosystem
Cleantech
9
Exit Growth
INDEX
6
Output Growth
INDEX
3
Funding Growth
INDEX

Reasons to move your startup to Vancouver

EARLY-STAGE FUNDING PER STARTUP
$235 k
GLOBAL AVG.
$284 k
TOTAL EARLY-STAGE FUNDING
$237 m
GLOBAL AVG.
$837 m
SOFTWARE ENGINEER SALARY
$55.2 k
GLOBAL AVG.
$58.3 k

Tax Credits

Startups focused on deep tech sectors and research-intensive areas can obtain a credit of up to 45% of R&D expenses.

BC Tech Fund

The provincial government recently announced a new $100 million venture fund, focused on companies seeking Series A financing.

Startup Community

Startup Genome
Partners & Members

Launch Academy
Sauder S3i
Creative Destruction Lab West
Highline BETA
RADIUS SFU
SFU Venture Labs
SFU Innovates
Wavefront
Spring
New Ventures BC
Small Business BC
Foresight
LifeScience BC
Bio Enterprise BC/Can
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