Government of Canada invests in BC’s growing digital and clean technology sectors
Vancouver Economic Commission to develop leading Technology Deployment Network, and to establish Greater Vancouver as an e-sports hub.
September 4, 2019 – Vancouver, British Columbia – Western Economic Diversification Canada
British Columbia’s digital and clean technology sectors are ripe for investment that will stimulate innovation, business development, and job growth in new markets.
That’s why the Honourable Navdeep Bains, Minister of Innovation, Science, and Economic Development and Minister responsible for Western Economic Diversification Canada announced a total of $453,550 for two projects led by the Vancouver Economic Commission (VEC). VEC will receive $353,550 to develop the Technology Deployment Network (TDN) — an online platform that connects large institutions with innovators to develop clean technology solutions. VEC will also receive $100,000 to develop a coordinated strategy to promote Greater Vancouver as an e-sports hub.
Demand for clean tech products and services has soared over recent years, and clean technology is now one of the province’s fastest growing industries. Investing in TDN will accelerate early adoption of clean technologies by providing innovators with access to institutional partnerships, and a platform to prove the commercial viability of new products and services. The initiative intends to help 20 Western Canadian companies demonstrate their products or services, generate 10 partnerships, and create as many as 120 high-quality jobs and 30 procurement opportunities.
Already recognized as an international games development hub, British Columbia has potential to tap into the booming global market for e-sports. According to games industry research, there are already more than 2.5 billion gamers worldwide and the sector is expected to make $239.5 billion in revenues by 2021, with e-sports to account for more than $2 billion in revenues. Establishing Greater Vancouver as an e-sports hub is expected to boost tourism revenues, provide a platform for digital technology companies to showcase their talent, and promote business growth in Western Canada.
Canada’s Innovation and Skills Plan aims to build an economy in which Canadians have access to high-quality jobs and Canadian businesses are well-placed to participate in a rapidly evolving and competitive global marketplace.
“Our government is laying the foundation for Canadians to become more competitive and succeed in the global economy. Today’s investment in the Vancouver Economic Commission builds on our competitive advantages and will result in new partnerships and promotional opportunities in the clean tech and digital tech sectors, boosting economic growth and creating good, middle-class jobs for Canadians.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada
“Vancouver is Canada’s fastest-growing and most diverse low-carbon economy, with local companies continuing to play a crucial role on the front lines of climate action and digital innovation. This federal funding for tech deployment unleashes the chance for startups to work with keystone institutions on urgently needed climate solutions. And funding for a regional Vancouver e-sports strategy underscores Vancouver’s bench strength in the tech, creative and entertainment industries.”
- Catherine Warren, Chief Executive Officer, Vancouver Economic Commission
The average salary for clean tech sector employees in British Columbia is $84,000, translating to an estimated annual payroll of $640 million.
From 2011 to 2016, the number of clean tech companies in British Columbia grew by 35 percent, average wages increased by 24 percent, and the number of BC-based employees increased by 20 percent.
There are more than 170 games development companies in Vancouver producing world-renowned games.
According to the 2019 Global Esports Market Report, e-sports revenues are estimated to reach $1.46 billion in 2019, $607.15 million of which comes from sponsorships.
Western Economic Diversification Canada
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