British Columbia: the green heart of Canada
The clean technology industry in BC today is valued at $1.8 billion with healthy new metrics:
- The number of companies in the province increased from 202 to 273 between 2010 and the end of 2016.
- This +35% jump helped propel local employment with now 8560 people working in BC in cleantech with an average salary of $ 84'000 in 2016 compared with $ 68'000 in 2009.
- Another component has shown great signs: equity raised is now at $6 Billion, a 25% growth. Although most of the capital investment comes from BC and the rest of Canada, Europe, the US and Asia account for more than 19% of the total investment received.
How can we explain this growth?
- $3 Trillion global industry pushing the demand for better products,
- Cleantech is not an obscure sector anymore, a one size-fits-all bin, but now drives true value and disruption,
- These technologies now outperform currently used older technologies, by being more cost effective, effective and clean,
- BC attracts top management and technical talent.
Most cleantech companies in BC operate in the following sectors:
- 20% in Energy Generation
- 16% in Transportation
- 12% in Building Efficiency
- 12% in waste management
Local cleantech companies know how to use both Federal and provincial fundings to back new technologies: more than 75% of cleantech companies applied for scientific research and experimental development (SR&ED) credits, and 58% effectively received it. This in turn creates great conditions to foster more revenue and in turn more exports, which remains an important component of BC’s economy rationale.
Although most of BC’s sales have been generated through the province and the US, it is estimated that turnover with Europe and Asia will increase by a third by year 2021.
Favorable conditions from the Federal government strategic plan
To foster innovation and jobs in an economy that’s been relying on natural resources to drive growth for decades, Canada’s Liberal government has picked six industrial sectors of high priority for their newly announced budget: the number one priority is cleantech.
About C$1 billion of the C$1.3 billion being spent over four years to promote those different industrial sectors will be assigned to the cleantech sector, with most of the funds directed towards equity financing and research funding.
An opportunity for Swiss companies
All these figures show that the sector is booming in the region: it is therefore in the interest Swiss companies to look at this market in more depth. One of the ways is to participate in the GLOBE Forum 2018 in Vancouver, March 14-18. Vancouver is leading the way in transitioning to a green, low carbon future.
GLOBE is a world-leading sustainability conference coupled with an exciting B2B Innovation Expo: it is all about relationship building to fuel your business. It is where leaders come to devise winning strategies to conserve resources, ignite innovation and develop ideas and partnerships that help them be more resilient, more efficient and reduce risk.
If you’re interested in learning more about the opportunities in the cleantech sector in Canada, we would be happy to meet with you at our Swiss Pavillon at the GLOBE Forum 2018. You can benefit from the high visibility of the Swiss brand, communal infrastructure, networking events and the support of our partners Swiss Business Hub Canada (S-GE) and Global Cleantech Cluster Association (GCCA) before, during and after the event. information
More information about the SWISS PAVILION can be found in the presentation in the download sector.
What’s more? Markus Reubi, Head of the Swiss Business Hub Canada will be present during the GLOBE Forum 2018. We would be happy to meet with you to discuss opportunities in the cleantech sector.