This document discusses the need to strengthen British Columbia's entrepreneurship infrastructure and business acceleration ecosystem to support technology startups and commercialization. It outlines challenges such as the need for more high-growth companies, innovation, skills development, and global relevance. Two models are proposed: 1) a startup accelerator network with universities and non-profits, and 2) a standalone technology startup accelerator to carefully select and intensively support high-potential companies. The document argues this could help more startups succeed and establish BC as a major technology region.
Together with our partners at KPMG, BC Tech Association released the latest installment of our BC Technology Report Card for 2016, a comprehensive analysis that compares the BC tech sector against other sectors in the province and against tech sectors in other jurisdictions.
Ahead of the provincial elections on May 9, we would like to help our community get a better sense of the three BC political party platforms to advance the tech sector. Here’s a summary of key tech-related promises in the three platforms as it relates to BCTECH Association’s policy pillars: talent, capital, markets, scale and competitiveness. Vote for BC. Vote for Tech.
In the last 15 years, BC’s tech sector has outpaced the province’s overall economy,
growing by 91% to generate over $15 billion dollars in GDP per year2. The sector’s
prominence will only increase as technology products and services become ever
more ubiquitous and deeply interwoven into all industries, including those not traditionally associated with tech.
Despite this promise, BC’s tech sector faces a significant headwind: a growing talent
deficit. The availability of talent has been a perennial concern for companies in the
sector. This was perhaps most prominently highlighted in 2016’s #BCTECH Strategy,
in which tech talent was identified as a fundamental pillar of a thriving tech sector –
and was suggested to be lacking in the province.
The goal of the 2016 TechTalentBC Report is to quantify this talent deficit and analyze
its factors in order to diagnose difficulties and identify specific areas in which remedial
action can be taken to ensure that BC’s tech companies have access to the quantity
and quality of tech talent required to compete and become global leaders.
Dubai Chamber of Commerce & Industry released the Dubai Innovation Index Report. The Report highlights the results of the Dubai Innovation Index (DII) which was launched by Dubai Chamber in collaboration with PwC in 2015, to support UAE’s vision for innovation and to promote Dubai’s quest towards being the smartest city in the world by 2021.
The Index has been designed to compare Dubai with 28 global cities on macroeconomic measures of innovation and to analyze innovation performance of Dubai’s private sector, including at the firm level. Through the Index, the Chamber wants to create awareness and increase the participation of the private sector in the total innovation efforts of the city of Dubai, and provide a benchmark to measure innovation.
In the Report, London has emerged as the most innovative city, followed by Hong Kong and Singapore respectively. Dubai ranks 16th across 28 global cities, ahead of cities such as Madrid, Milan, Sao Paulo, Mumbai, Shanghai and Beijing.
In the last 15 years, BC’s tech sector has outpaced the province’s overall economy,
growing by 91% to generate over $15 billion dollars in GDP per year2. The sector’s
prominence will only increase as technology products and services become ever
more ubiquitous and deeply interwoven into all industries, including those not traditionally associated with tech.
Despite this promise, BC’s tech sector faces a significant headwind: a growing talent
deficit. The availability of talent has been a perennial concern for companies in the
sector. This was perhaps most prominently highlighted in 2016’s #BCTECH Strategy,
in which tech talent was identified as a fundamental pillar of a thriving tech sector –
and was suggested to be lacking in the province.
The goal of the 2016 TechTalentBC Report is to quantify this talent deficit and analyze
its factors in order to diagnose difficulties and identify specific areas in which remedial
action can be taken to ensure that BC’s tech companies have access to the quantity
and quality of tech talent required to compete and become global leaders.
The document outlines 11 policy recommendations to support BC's technology sector in the areas of talent and scale. It notes that while BC has a thriving tech sector, it is held back by a shortage of talent and an environment that does not strongly support companies scaling up. The recommendations include creating a $1 billion transformation fund, strengthening DataBC's mandate to leverage public data, updating R&D tax incentives, increasing venture capital funding, and using procurement to support local tech companies. The goal is to double the number of "anchor" companies in BC and increase the tech talent pool to fulfill the province's economic potential.
The document summarizes the activities and achievements of the BC Technology Industry Association (BCTIA) in 2011-2012. It discusses the BCTIA's efforts to support the technology sector through initiatives like Centre4Growth, which helped over 285 tech companies and generated $57 million in new revenue and investment. It also notes that the technology sector employed over 83,000 people and is expected to add 3,000 new jobs in the coming year based on a BCTIA survey. The BCTIA hosted over 60 events that connected over 3,000 people and worked to advocate for the technology industry.
Together with our partners at KPMG, BC Tech Association released the latest installment of our BC Technology Report Card for 2016, a comprehensive analysis that compares the BC tech sector against other sectors in the province and against tech sectors in other jurisdictions.
Ahead of the provincial elections on May 9, we would like to help our community get a better sense of the three BC political party platforms to advance the tech sector. Here’s a summary of key tech-related promises in the three platforms as it relates to BCTECH Association’s policy pillars: talent, capital, markets, scale and competitiveness. Vote for BC. Vote for Tech.
In the last 15 years, BC’s tech sector has outpaced the province’s overall economy,
growing by 91% to generate over $15 billion dollars in GDP per year2. The sector’s
prominence will only increase as technology products and services become ever
more ubiquitous and deeply interwoven into all industries, including those not traditionally associated with tech.
Despite this promise, BC’s tech sector faces a significant headwind: a growing talent
deficit. The availability of talent has been a perennial concern for companies in the
sector. This was perhaps most prominently highlighted in 2016’s #BCTECH Strategy,
in which tech talent was identified as a fundamental pillar of a thriving tech sector –
and was suggested to be lacking in the province.
The goal of the 2016 TechTalentBC Report is to quantify this talent deficit and analyze
its factors in order to diagnose difficulties and identify specific areas in which remedial
action can be taken to ensure that BC’s tech companies have access to the quantity
and quality of tech talent required to compete and become global leaders.
Dubai Chamber of Commerce & Industry released the Dubai Innovation Index Report. The Report highlights the results of the Dubai Innovation Index (DII) which was launched by Dubai Chamber in collaboration with PwC in 2015, to support UAE’s vision for innovation and to promote Dubai’s quest towards being the smartest city in the world by 2021.
The Index has been designed to compare Dubai with 28 global cities on macroeconomic measures of innovation and to analyze innovation performance of Dubai’s private sector, including at the firm level. Through the Index, the Chamber wants to create awareness and increase the participation of the private sector in the total innovation efforts of the city of Dubai, and provide a benchmark to measure innovation.
In the Report, London has emerged as the most innovative city, followed by Hong Kong and Singapore respectively. Dubai ranks 16th across 28 global cities, ahead of cities such as Madrid, Milan, Sao Paulo, Mumbai, Shanghai and Beijing.
In the last 15 years, BC’s tech sector has outpaced the province’s overall economy,
growing by 91% to generate over $15 billion dollars in GDP per year2. The sector’s
prominence will only increase as technology products and services become ever
more ubiquitous and deeply interwoven into all industries, including those not traditionally associated with tech.
Despite this promise, BC’s tech sector faces a significant headwind: a growing talent
deficit. The availability of talent has been a perennial concern for companies in the
sector. This was perhaps most prominently highlighted in 2016’s #BCTECH Strategy,
in which tech talent was identified as a fundamental pillar of a thriving tech sector –
and was suggested to be lacking in the province.
The goal of the 2016 TechTalentBC Report is to quantify this talent deficit and analyze
its factors in order to diagnose difficulties and identify specific areas in which remedial
action can be taken to ensure that BC’s tech companies have access to the quantity
and quality of tech talent required to compete and become global leaders.
The document outlines 11 policy recommendations to support BC's technology sector in the areas of talent and scale. It notes that while BC has a thriving tech sector, it is held back by a shortage of talent and an environment that does not strongly support companies scaling up. The recommendations include creating a $1 billion transformation fund, strengthening DataBC's mandate to leverage public data, updating R&D tax incentives, increasing venture capital funding, and using procurement to support local tech companies. The goal is to double the number of "anchor" companies in BC and increase the tech talent pool to fulfill the province's economic potential.
The document summarizes the activities and achievements of the BC Technology Industry Association (BCTIA) in 2011-2012. It discusses the BCTIA's efforts to support the technology sector through initiatives like Centre4Growth, which helped over 285 tech companies and generated $57 million in new revenue and investment. It also notes that the technology sector employed over 83,000 people and is expected to add 3,000 new jobs in the coming year based on a BCTIA survey. The BCTIA hosted over 60 events that connected over 3,000 people and worked to advocate for the technology industry.
Creative Industries Council Access to Finance Working Group ReportDaniel Dufourt
The report examines access to finance challenges for creative content businesses in the UK. It finds that while the UK excels at creative production, businesses often lack resources to scale globally. Research identified specific market failures for creative SMEs beyond general SME challenges. The report recommends improving understanding of alternative financing, helping businesses understand intellectual property value, improving data collection, and creating a supportive environment for these businesses to grow and compete internationally. Overall the report aims to address undercapitalization of creative content SMEs and lost economic opportunities when IP is traded for short-term financing.
TBED21 is a non-profit organization that aims to promote urban renaissance through science, technology, and innovation. It works with partners across various levels of government and academia. The organization's president has experience in biotechnology and life sciences. TBED21 advocates for a new approach to technology-based economic development that ensures economic opportunities are accessible to all residents and benefits cities through workforce development and STEM education programs aligned with comprehensive economic strategies.
CXC Global - Engaging The World Wide Workforce In The 21st Century, Flat-Worl...Orla Antoinette Byrnes
THE PURPOSE OF THIS PAPER
With the aim of supporting the forward-thinking of business managers and HR/contingent work-force management professionals about an emerging model of workforce engagement, this paper presents an extensive analysis of trends and developments and tries to demonstrate that successful businesses in the 21st Century will increasingly leverage what we are calling a “World-Wide Workforce.”
Author - Andrew Karpie, Business/Technology Researcher Analyst
Commissioned by: CXC Global
2020 - Modern hiring how agencies are preparing for the next generation of workEnio Velazco, Ph.D.
Government agencies face ongoing challenges in recruiting and hiring qualified talent, especially in high-demand fields like IT. The document discusses how agencies are addressing these challenges through more modern hiring practices and increased flexibility. It explores initiatives by the U.S. Digital Service, the Pentagon's Defense Digital Service, and state and local governments. These include new hiring pilots, guides on best practices for recruiting tech talent, increased use of social media and telework, and prioritizing diversity, equity and inclusion. The COVID-19 pandemic has further complicated hiring while also forcing agencies to embrace remote work options.
By Gordon McConnachie and Alan K.L.Lung
Vol. 16 No.1 Spring 2013
Public Administration and Policy Journal
Published by Hong Kong Public Administration Journal and SPEED of The Hong Kong Polytechnic University
BACKGROUND MATERIAL FOR MORE JOBS: BETTER CITIES WORKSHOPCharles Dufresne
Cities have a role to play in supporting job growth during economic recovery. They can stimulate demand within the local economy through initiatives like "buy local" programs. Cities can also encourage business startups and help existing companies access new markets. While cities have some policy levers, job growth ultimately depends on collaboration between many local stakeholders, including employers, educators, and government. The challenges require comprehensive solutions tailored to each city's economic conditions and opportunities.
The document discusses the business agenda for Europe and the challenges facing EU competitiveness and growth. It finds that while business leaders are optimistic about near-term economic prospects, underlying issues remain regarding productivity, innovation, and regulation. Digital technologies offer potential to boost productivity and innovation if businesses fully embrace digital and governments address regulatory barriers to digital adoption. Progress will require measures like skills development, entrepreneurship support, and a framework for assessing digital's impact on competitiveness.
Our major goal is to help you achieve your academic goals. We are commited to helping you get top grades in your academic papers.We desire to help you come up with great essays that meet your lecturer's expectations.Contact us now at http://www.premiumessays.net/
Innovate to give your organisation the competitive edgeDouglas Bernhardt
The document discusses the importance of innovation and competitiveness for organizations and countries. It argues that companies and nations that do not innovate will fall behind, so embracing new ideas and ever-changing technology is imperative. It also notes that national and corporate competitiveness reports are now published annually, evaluating countries and economies on factors like education, infrastructure, technology readiness and innovation. Therefore, organizations must focus on improving these areas to stay competitive.
This document summarizes the activities of the British Columbia Technology Industries Association (BCTIA) for the 2005-2006 year. It highlights that BCTIA strengthened its role in advocacy, education, and partnership during this time. For advocacy, BCTIA drove issues important to the BC technology industry, including developing a new Provincial Strategy for Technology. It also lists accomplishments in advocating for the industry within the first 6 months of its 2006 Advocacy Platform. BCTIA also worked to define and partner on education programs to develop business talent in the industry.
BC Tech made 11 recommendations to the Select Standing Committee on Finance and Government Services' Annual Budget Consultation to address challenges facing BC's technology sector. The recommendations focused on increasing talent and encouraging scale-ups. To increase talent, BC Tech recommended funding more tech-related post-secondary graduates, attracting global talent, and increasing work-integrated learning opportunities. To encourage scale-ups, BC Tech proposed creating a $1B transformation fund, increasing Innovate BC's budget, leveraging public data, extending R&D tax incentives, incentivizing commercialization, and using procurement to support local tech companies.
Together with our partners at KPMG, we have released the latest installment of our BC Technology Report Card for 2020, a comprehensive analysis that compares the BC tech sector against other sectors in the province and against tech sectors in other jurisdictions.
Since 2012, BC Tech has teamed up with KPMG to assess the impact of the technology sector in BC, and with this 4th report card, BC’s tech economy takes its place as a clear Canadian leader. In 2018’s report card, the BC technology sector’s economic performance received an A compared to other BC industries, and—for the first time—an A compared to other Canadian provinces.
BC Tech Policy Recommendations March 2020ChadParent3
It is no surprise that BC’s fast-growing tech sec- tor is a leading economic driver of growth in BC; technology is a tool empowering businesses, people, and governments to tackle important problems and improve lives.
Together with our partners at KPMG, BC Tech Association released the latest installment of our BC Technology Report Card for 2016, a comprehensive analysis that compares the BC tech sector against other sectors in the province and against tech sectors in other jurisdictions.
BC Tech Submission to the Economic Recovery Task Force (June 2020)BC Tech Association
This document outlines 11 key policy recommendations from BC Tech to scale up tech companies and increase technology adoption across industries in British Columbia. The recommendations include partnering with the federal government to invest $50 million over 5 years in ScaleUp BC, creating a $1 billion BC Transformation Fund over 10 years, and strengthening DataBC's mandate to leverage public data. It also recommends updating refundable SR&ED and IRAP limits, introducing a superdeduction for tech commercialization costs, and establishing a $50 million procurement fund for BC companies.
Boidus is a media company in Botswana that publishes a monthly newspaper called Boidus Focus on topics related to the built environment industry. It aims to facilitate communication between professionals, stakeholders, and consumers in the construction, architecture, urban design, arts, culture and property industries. Boidus Focus newspaper has a readership of professionals in these fields. Boidus also organizes media events on housing, development projects, and the property market to bring together stakeholders in the built environment sector.
Creative Industries Council Access to Finance Working Group ReportDaniel Dufourt
The report examines access to finance challenges for creative content businesses in the UK. It finds that while the UK excels at creative production, businesses often lack resources to scale globally. Research identified specific market failures for creative SMEs beyond general SME challenges. The report recommends improving understanding of alternative financing, helping businesses understand intellectual property value, improving data collection, and creating a supportive environment for these businesses to grow and compete internationally. Overall the report aims to address undercapitalization of creative content SMEs and lost economic opportunities when IP is traded for short-term financing.
TBED21 is a non-profit organization that aims to promote urban renaissance through science, technology, and innovation. It works with partners across various levels of government and academia. The organization's president has experience in biotechnology and life sciences. TBED21 advocates for a new approach to technology-based economic development that ensures economic opportunities are accessible to all residents and benefits cities through workforce development and STEM education programs aligned with comprehensive economic strategies.
CXC Global - Engaging The World Wide Workforce In The 21st Century, Flat-Worl...Orla Antoinette Byrnes
THE PURPOSE OF THIS PAPER
With the aim of supporting the forward-thinking of business managers and HR/contingent work-force management professionals about an emerging model of workforce engagement, this paper presents an extensive analysis of trends and developments and tries to demonstrate that successful businesses in the 21st Century will increasingly leverage what we are calling a “World-Wide Workforce.”
Author - Andrew Karpie, Business/Technology Researcher Analyst
Commissioned by: CXC Global
2020 - Modern hiring how agencies are preparing for the next generation of workEnio Velazco, Ph.D.
Government agencies face ongoing challenges in recruiting and hiring qualified talent, especially in high-demand fields like IT. The document discusses how agencies are addressing these challenges through more modern hiring practices and increased flexibility. It explores initiatives by the U.S. Digital Service, the Pentagon's Defense Digital Service, and state and local governments. These include new hiring pilots, guides on best practices for recruiting tech talent, increased use of social media and telework, and prioritizing diversity, equity and inclusion. The COVID-19 pandemic has further complicated hiring while also forcing agencies to embrace remote work options.
By Gordon McConnachie and Alan K.L.Lung
Vol. 16 No.1 Spring 2013
Public Administration and Policy Journal
Published by Hong Kong Public Administration Journal and SPEED of The Hong Kong Polytechnic University
BACKGROUND MATERIAL FOR MORE JOBS: BETTER CITIES WORKSHOPCharles Dufresne
Cities have a role to play in supporting job growth during economic recovery. They can stimulate demand within the local economy through initiatives like "buy local" programs. Cities can also encourage business startups and help existing companies access new markets. While cities have some policy levers, job growth ultimately depends on collaboration between many local stakeholders, including employers, educators, and government. The challenges require comprehensive solutions tailored to each city's economic conditions and opportunities.
The document discusses the business agenda for Europe and the challenges facing EU competitiveness and growth. It finds that while business leaders are optimistic about near-term economic prospects, underlying issues remain regarding productivity, innovation, and regulation. Digital technologies offer potential to boost productivity and innovation if businesses fully embrace digital and governments address regulatory barriers to digital adoption. Progress will require measures like skills development, entrepreneurship support, and a framework for assessing digital's impact on competitiveness.
Our major goal is to help you achieve your academic goals. We are commited to helping you get top grades in your academic papers.We desire to help you come up with great essays that meet your lecturer's expectations.Contact us now at http://www.premiumessays.net/
Innovate to give your organisation the competitive edgeDouglas Bernhardt
The document discusses the importance of innovation and competitiveness for organizations and countries. It argues that companies and nations that do not innovate will fall behind, so embracing new ideas and ever-changing technology is imperative. It also notes that national and corporate competitiveness reports are now published annually, evaluating countries and economies on factors like education, infrastructure, technology readiness and innovation. Therefore, organizations must focus on improving these areas to stay competitive.
This document summarizes the activities of the British Columbia Technology Industries Association (BCTIA) for the 2005-2006 year. It highlights that BCTIA strengthened its role in advocacy, education, and partnership during this time. For advocacy, BCTIA drove issues important to the BC technology industry, including developing a new Provincial Strategy for Technology. It also lists accomplishments in advocating for the industry within the first 6 months of its 2006 Advocacy Platform. BCTIA also worked to define and partner on education programs to develop business talent in the industry.
BC Tech made 11 recommendations to the Select Standing Committee on Finance and Government Services' Annual Budget Consultation to address challenges facing BC's technology sector. The recommendations focused on increasing talent and encouraging scale-ups. To increase talent, BC Tech recommended funding more tech-related post-secondary graduates, attracting global talent, and increasing work-integrated learning opportunities. To encourage scale-ups, BC Tech proposed creating a $1B transformation fund, increasing Innovate BC's budget, leveraging public data, extending R&D tax incentives, incentivizing commercialization, and using procurement to support local tech companies.
Together with our partners at KPMG, we have released the latest installment of our BC Technology Report Card for 2020, a comprehensive analysis that compares the BC tech sector against other sectors in the province and against tech sectors in other jurisdictions.
Since 2012, BC Tech has teamed up with KPMG to assess the impact of the technology sector in BC, and with this 4th report card, BC’s tech economy takes its place as a clear Canadian leader. In 2018’s report card, the BC technology sector’s economic performance received an A compared to other BC industries, and—for the first time—an A compared to other Canadian provinces.
BC Tech Policy Recommendations March 2020ChadParent3
It is no surprise that BC’s fast-growing tech sec- tor is a leading economic driver of growth in BC; technology is a tool empowering businesses, people, and governments to tackle important problems and improve lives.
Together with our partners at KPMG, BC Tech Association released the latest installment of our BC Technology Report Card for 2016, a comprehensive analysis that compares the BC tech sector against other sectors in the province and against tech sectors in other jurisdictions.
BC Tech Submission to the Economic Recovery Task Force (June 2020)BC Tech Association
This document outlines 11 key policy recommendations from BC Tech to scale up tech companies and increase technology adoption across industries in British Columbia. The recommendations include partnering with the federal government to invest $50 million over 5 years in ScaleUp BC, creating a $1 billion BC Transformation Fund over 10 years, and strengthening DataBC's mandate to leverage public data. It also recommends updating refundable SR&ED and IRAP limits, introducing a superdeduction for tech commercialization costs, and establishing a $50 million procurement fund for BC companies.
Boidus is a media company in Botswana that publishes a monthly newspaper called Boidus Focus on topics related to the built environment industry. It aims to facilitate communication between professionals, stakeholders, and consumers in the construction, architecture, urban design, arts, culture and property industries. Boidus Focus newspaper has a readership of professionals in these fields. Boidus also organizes media events on housing, development projects, and the property market to bring together stakeholders in the built environment sector.
1) Bangladesh Bank has established a legal and policy framework to promote the financing and development of CMSMEs in Bangladesh. This includes definitions of CMSMEs in various sectors and strategic plans focusing on increasing access to finance.
2) Innovative financing initiatives by Bangladesh Bank include refinance facilities, credit guarantee schemes, and training programs to support CMSME growth. Target-based lending has helped achieve high levels of CMSME loan disbursement.
3) Reporting requirements provide monitoring of key CMSME lending data from banks and financial institutions, including targets, volumes, sectors, and priority groups like women-owned enterprises.
This slides attempt to provide possible solutions to help China adapt the new trade environment and deepen integration into GVCs in the new era of 2020s.
The document discusses the need for change in Italy to address its declining competitiveness rankings and economic challenges. It notes Italy's poor performance in areas like productivity, unemployment, and brain drain of young people. It calls for collaboration between private and public sectors to drive innovation among small- and medium-sized enterprises through cultural transformation, strategic initiatives, and rethinking areas like sales, marketing, research and development. The document advocates adopting best practices to holistically improve productivity, sales, and overall company optimization through initiatives like establishing joint goals and utilizing centers of excellence.
The document discusses Small and Medium Enterprises (SMEs) in Bangladesh. It provides definitions of SMEs according to the Bangladesh Bank and Ministry of Industries. SMEs make up the majority of businesses in Bangladesh and employ a large portion of the workforce. However, SMEs face significant challenges, particularly related to access to financing. While past economic reforms helped reduce barriers against SMEs, more proactive policies are still needed to promote their development and address constraints such as lack of adequate public funding and support.
This document provides an overview and analysis of the FinTech sector in Canada, with a focus on British Columbia. It defines FinTech and outlines the major types of FinTech being developed globally and in Canada. These include payments, lending, investments, blockchain, insurance and more. The document also discusses bank innovation in FinTech and analyzes the FinTech landscape and opportunities in 16 other countries. Stakeholder views on developing Canada as a FinTech leader are presented. The conclusion is that Canada is well-positioned to become a global FinTech leader if the right steps are taken to support the growth and success of the domestic FinTech industry.
This document provides an executive summary and analysis of positioning British Columbia as a global FinTech hub. It finds that Vancouver is well positioned due to its location, business environment, growing talent pool, and regulatory structure. The document recommends that BC support the growth of FinTech startups, develop partnerships with other hubs, and promote Vancouver's strengths to establish it as a leader in this emerging industry. Blockchain and other financial technologies represent a significant opportunity for BC to attract investment and jobs if the right supports are put in place.
The document outlines the economic challenges facing Italy and calls for changes to address low productivity and competitiveness. It notes Italy's poor rankings in competitiveness and efficiency surveys. It calls for collaboration between private, public and government sectors to boost productivity among small- and medium-sized enterprises through cultural transformation, innovation, and simplifying business models. Strategic initiatives are proposed to engage all sectors in establishing goals and improving processes, products, and ecosystems through best practices.
Abu Dhabi Municipality (ADM) was established in 1962, and named as Department of Abu Dhabi Municipality and Town Planning. In 1962, the municipal board was established with the aim of providing services to the public and plays a significant role in the infrastructural development including the road networks, lighting system of roads, managing sewerage and promoting the agricultural development as well as establishment of the public urban markets, thereby making the infrastructural development steady and continuous. ADM has accomplished many projects like Sheikh Zayed Bridge, Sheikh Zayed Bin Sultan Al Nahyan Mosque, Al-Mafraq Multi-layer Interchange project
2. The opinions expressed in this document are those of the authors and do not necessarily
reflect those of the Business Council of British Columbia. Permission to use or reproduce this
report is granted for personal or classroom use without fee and without formal request
provided that it is properly cited. Copies may not be made or distributed for profit or
commercial advantage.
13. Innovation & Commercialization: Rising to the Challenge through a Business Acceleration Ecosystem
B.C. Innovation Council Outlook 2020 Working Paper, Prepared for the BC Business Council, September 2009 Page 12
CHALLENGES & OBJECTIVES
Our effort to evaluate and strengthen the infrastructure that exists to support technology entrepreneurs is driven
by the following five objectives:
1. Facilitate greater access to capital for proof of concept and early stage company development.
2. Create more high growth companies.
3. Achieve increased innovation and commercialization.
4. Attract and retain skilled people.
5. Establish a strong and prominent competitive position in the global economy well beyond 2020.
GREATER ACCESS TO CAPITAL FOR PROOF OF CONCEPT DEVELOPMENT
New technology ventures report having very limited access to pre‐seed funding and the current deterioration of
capital availability in the VC and angel communities in B.C. and throughout Canada is having a compounding effect.
The supplement to the 10th
report (2007) of the B.C. Premier’s Technology Council stated that there is a lack of
pre‐seed funding for B.C. companies that want to develop prototypes and proof of concept.2
This conclusion was
also reached in 2005 during the B.C. Integrated Technology Initiative, backed up by research done by ICF
Consulting.3
This problem is not limited to B.C. At a 2006 Lawrence Centre (University of Western Ontario) workshop series on
sustainable energy policy, science and technology policy makers from across the country verified the funding gap
between fundamental/applied research and product commercialization.4
Figure 2 illustrates this gap – a lack of
availability of capital to fund the technology development and demonstration phase, or the proof of concept
phase.
Figure 2 – Pre‐Commercial Funding Gap
Source: Adaptation from MacDonald and Associates 2004
The National Angel Organization (NAO) suggests that there is less informal capital available in the market because
VCs were burned by low returns on investment in the early 2000s5
. Since the tech bubble, angels and VCs have
shown a tendency to move their investments a little further down the company lifecycle as their tolerance for risk
has diminished, a dilemma it seems obvious is even more pronounced now as billions of dollars have eroded out of
17. Innovation & Commercialization: Rising to the Challenge through a Business Acceleration Ecosystem
B.C. Innovation Council Outlook 2020 Working Paper, Prepared for the BC Business Council, September 2009 Page 16
competitiveness reinforces the importance of a strong entrepreneurship infrastructure anchored by a robust
acceleration ecosystem as a stimulus to rapidly expanding the size, influence, and relevance of our technology
sector.
1. The rise of innovation as a currency of global competition: U.S. business models of innovation have been
embraced by jurisdictions around the world and the English language is increasingly the language of
innovation. The impact of our proximity to the U.S. may well be diminishing as innovation hot spots
around the world continue to evolve into global leadership positions. Our ability to maintain and grow our
position is dependent on our ability to keep pace with these hot spots and maintain our relevance.
2. The global war for talent: The brightest minds and most spirited entrepreneurs now have the world at
their fingertips. They can live and travel anywhere in the world and out of necessity, will be attracted to
jurisdictions that offer a supreme quality of life, and access to world‐leading research & development
resources and the culture of entrepreneurship that drives the commercialization of R&D. Our relevance
depends on our ability to attract and retain talent (HQP).
3. Innovation as a national agenda: Innovation itself is becoming a means to an economic end in countries
and jurisdictions around the world. The phenomenon of globalization continues, heavily rooted in
technology entrepreneurship. As countries continue to elevate innovation to a national priority of
economic security, the globally competitive position of regions within their borders threatens the
economic security of regions elsewhere unable to keep pace. In essence, these underperforming regions
grow increasingly irrelevant in the global innovation forum.
4. The power of networks: Entrepreneurs the world over have an increasing opportunity to build
competitive advantage by tapping into networks in innovative jurisdictions. But increasingly, the value of
these networks is dependent on their global reach. Our ability to build these global networks is
dependent, once again, on the relevance of our own innovation ecosystem.
For B.C. to continue growing its prominence, and with it, its relevance in the global technology economy, we need
to keep pace with competitive regions in terms of our investment in entrepreneurship infrastructure and
acceleration programs. This will help us grow the number and
quality of high growth technology companies in the region
ensuring we can continue to attract the talent, entrepreneurship,
and capital needed to successfully foster continued technology‐
based economic growth. This has never been more critical than it
is today. We have to keep pace with competitive regions around
the world.
This concept of the importance of keeping pace was echoed in a 2008 report by the Conference Board of Canada
entitled Canada’s Pathways Toward Global Innovation Success: Report of the Leaders’ Panel on Innovation‐Based
Commerce. These were two of their recommendations:10
Canada should match the innovation policy capacity of leading innovative countries;
Canada should implement programs that enable innovative small and medium‐sized businesses to achieve
readiness before they launch on capital markets.
While these recommendations are aimed at Canada as a whole, their merit applies equally to B.C. as we continue
moving forward in building and strengthening our knowledge economy. We must continue recognizing the
competitive nature of the global knowledge economy and ensure we continue to respond with at least comparable
policy and strategy to keep pace.
“Globalization has changed us into a company
that searches the world, not just to sell or to
source, but to find intellectual capital ‐ the
world's best talents and greatest ideas.”
– Jack Welch, CEO (former) of General Electric