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Whiners are losers… and half of North America's 10 fastest growing technology firms are based in Canada
Although I’ve been in Canada only a little over two years now, nothing beats a headline like this: Oh Canada! Canadian Companies Boast Highest Average Per cent Growth, especially in the end of a long day battling various commercialization demons. It is for policy pundits to analyze the reasons: tax regime, quality of education, or successful policies aimed at integration of new immigrants (I am willing to argue that efficient capital markets are not the contributor here:-).
To me, the secret of success is in the business opportunity as described in this quote: “Numerous technology advances, the ubiquitous digitization of data, and the growth in connectivity is blurring the lines between industries and creating new opportunities for Fast 500 winners to challenge old business models with original ideas.”
It’s also Canada’s ability, as a society, to take advantage of these convergent business opportunities. I am venturing in the field of intangibles here: highly cooperative business style, willingness to work towards a compromise and dogged pursuit of niche opportunities overlooked by the dominant players.
If you’ve ever been to MaRS Centre, you might’ve noticed a giant “Convergence Innovation” banner in the middle of the atrium. Convergence Innovation is about making our lives better by relaxing the boundaries between fixed and mobile, between biology and physical sciences, between inside and outside, through the innovative use of technology. Clearly, this convergence thing is a new phenomenon but Canadians are good at it!
Read about Deloitte’s Canadian Technology Fast 50.
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Veronika Litinski @ MaRS
Veronika Litinski provides advisory services to entrepreneurs and high growth companies, with a special focus on life sciences markets, specializing in corporate finance and business development.
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