Chapter 1: Emerging Companies In Canada: Data And Digital Technology And Life Sciences

In the last several years, the growth of Canada's emerging company and tech sector has been on a path of acceleration. Last year, technology and life sciences companies accounted for more than 80% of all venture capital investment in Canada¹ and we are also seeing increased foreign investment into the industry, particularly from the United States².

As the industry grows, Canada is attracting tech entrepreneurs and talent: four of the top 20 cities in North America for technology talent were in Canada (Toronto is #3)³. The tech sector's presence, once concentrated in key research and commercial centres, is now being felt across the country. Alberta, a resource- and talent-rich region in economic transition as it seeks new balance after a longstanding focus on oil and gas, had its best year on record in 2020 for venture capital investment, largely in startups and emerging tech companies⁴.