Ottawa, ON – 07/27/2017 – Among the 10 largest economies in the world, Canada has always played a significant role in the global marketplace, and through collaboration and international cooperation, Canada has also fostered peaceful and sustainable relations with nations around the world. However, with the global economic, social, and political climate quickly changing, Canada is increasingly faced with the challenge of shaping innovative methods to deal with these evolving circumstances, while simultaneously growing its economic presence.
As outlined in ICTC’s recently-released reports Digital Economy Talent Supply: Indigenous Peoples of Canada and Additive Manufacturing in Canada: The Impeding Talent Paradigm, digital technology is rapidly expanding across all sectors in the economy, and technological innovation is increasingly acting as an enabler of cross-sector advancements and improvements that create efficiencies and increase economic output.
Forming the basis of the Canadian tech ecosystem, startups employing fewer than 100 people represent the majority of businesses operating in the Canadian digital economy. Startups are undoubtedly essential components of the technology sector, and crucial drivers of innovation. However, while these kinds of organizations play a central role in any technology ecosystem, the exponential growth seen in many of the world’s top technology locales are largely resultant of high-impact companies, employing upwards of 500 people. Via results-based strategies, heightened investment capabilities and a global presence, these high-impact companies can be the very catalyst that Canadian startups need to grow, diversify and scale at speed.
Echoed by Federal government’s support for building and enhancing an Innovation Economy in Budget 2017, ICTC’s report, Presenting Canada to the World: The Case for International Investment as a Means of Advancing Technology Ecosystem Development, Accelerating Scale Up and Promoting Sustainable Innovation underlines the inherent potential of Canada’s innovation sector, while shedding light on the many reasons that Canada should be considered a top location for international tech companies seeking to expand their global presence. From the top-rate telecommunications infrastructure, to the strong network of growth-supporting accelerators and incubators, and with one of the highest-educated populations in the world, the case for multinational investment in Canada is a solid one.
“Canada’s unique and privileged standing on the world stage is a strong comparative advantage that should be fully leveraged going forward as part of Canada’s outward policies. These are exciting times to carve an innovative digital future for Canada on the world stage.” – Namir Anani, ICTC President & CEO
Presenting Canada to the World envisions foreign investment as a significant contributor to the growth of the Canadian digital economy, as well as the successful scale up of Canada’s many technology startups. Combined, these changes build a sustainable and innovative technology ecosystem in Canada that is increasingly poised to generate high-quality, high-paying jobs for Canadians, nationwide.
“The spotlight is now on Canada’s innovators and entrepreneurs. Canada is backing its entrepreneurs to reach and conquer global markets, while attracting the best talent, entrepreneurs and investors to grow our innovation ecosystem. ” – Victoria Lennox, CEO and Co-Founder of Startup Canada. Startup Canada was consulted in the writing of this report.
For a detailed understanding of the role that foreign investment can play in accelerating the growth of Canada’s technology ecosystem, please access the full report here. For any questions, please contact Alexandra Cutean at [email protected].