A revival in Canadian high tech is underway.
Not just about natural resources anymore, Canadians are emerging from the shadows cast by fallen giants Nortel and BlackBerry to create new tech companies backed by entrepreneurial ecosystems that garner international adulation.
Millennials, who watched the tech bubble burst, are leading the charge. The old days of hacking it out in the garage have given way to venture capital dollars, innovation hubs, and accelerators—a growing suite of services built through partnerships between government, businesses, and universities.
Governments, desperate for GDP growth, are turning to small businesses, which comprise 99 percent of the country’s businesses, to fire up the economic engine.
The results are starting to show. Shopify’s landmark IPO in May valued the Ottawa-headquartered firm at US$1.27 billion.
The payoff is jobs and a stronger economy. For entrepreneurs looking beyond the 9-to-5, the payoff is making an impact and enjoying the tantalizing prospect of creating the next Facebook or Instagram.
