Vancouver is 16th in Startup Genome’s global cleantech ecosystem ranking
Plus, B.C. is home to 36 percent of Canada’s most investable cleantech startups, according to Foresight Canada.
Vancouver placed 16th out of 35 cities in Startup Genome’s ranking of global cleantech ecosystems. The list, released today, has Vancouver four spots behind Toronto and 10 above Calgary.
The report evaluates the strength of ecosystems according to six factors: focus, funding, knowledge, talent, performance and startup experience. Out of a possible high score of 10 for each factor, Vancouver ranked six or above.
Situational awareness: While Vancouver performed well, Toronto-Waterloo scored higher for funding, startup experience, knowledge and talent.
“Vancouver's overall ranking is a little odd: all of the ingredients for global success are there but—unlike other cities—no standout strengths,” commented Matt Toner, a partner with Shred Capital and author of In Search of the Elusive Political Entrepreneur. “This is a gap where political entrepreneurship could help set a clear roadmap for the future... but that quality seems to be in short supply in British Columbia these days.”
Cleantech—as Canadian as maple syrup: In November, Foresight Canada, a cleantech accelerator, released the Foresight 50, a list of Canada’s most investable cleantech companies.
More than a third (18) of the companies were based in B.C. and came from a variety of sectors including aquatech, carbon solutions, hydrogen and renewable energy.
The federal government has also taken notice of B.C.’s climate tech chops, as it recently announced funding for eight B.C. cleantech firms from Sustainable Development Technology Canada. The funds came as part of its Seed Fund Program, which supports promising early-stage Canadian cleantech entrepreneurs by providing grants of $50,000 to $100,000.
B.C.’s most recent provincial budget included funding focused on climate solutions, clean transportation and clean energy innovation, which included $60 million in funding for a Centre for Innovation and Clean Energy.
READ MORE: Boris Wertz is bullish on BC climate tech
The B.C. cleantech sector is one of the fastest-growing segments of BC’s economy. It’s made up of nearly 300 companies that employ more than 16,300 people and generate annual revenues of around $2.4 billion, up from $1.8 billion in 2016, according to the latest BC Cleantech Report Card from the BC Cleantech CEO Alliance.
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