VIATeC 25 Companies Announced

VIATeC 25 2014

VIATeC has revealed the latest “VIATeC 25.” The VIATeC 25 is an annual list of the largest technology companies headquartered or founded in Greater Victoria, based on reported calendar revenues.

The Latest VIATeC 25 Companies…

This is the latest list of the largest technology companies headquartered or founded in Greater Victoria based on reported 2013 calendar revenues.

(in alphabetical order)

AbeBooks.com
Access Point Information Canada Ltd.
Archipelago Marine Research
AXYS Technologies Inc
Beanstream
Boardwalk Communications
CAMACC Systems
Carmanah Technologies
Contech Enterprises, Inc
FTS Forest Technology Systems
HP Advanced Solutions
JEA
Latitude Geographics
ParetoLogic
Procura
Quester Tangent
Reliable Controls
RevenueWire
Schneider Electric
Scott Plastics
Seastar Chemicals
TC-Helicon Vocal Technologies Inc.
UNIT4 Business Software
Vecima Networks
Viking Air Limited

Use the VIATeC Business Directory to quickly learn more about these companies.

2014 VIATeC 25: $1.16 Billion Combined Revenues

  • The combined revenues of the VIATeC 25 (the Victoria tech sector’s 25 biggest firms, according to revenues, that are founded or headquartered in Victoria) has reached $1.16 billion.
  • This is 20% growth in combined revenues based on 2013 reported revenues.
  • VIATeC 25 companies collectively employee 3,630 employees.
  • On average, a VIATeC 25 company generates $46.3 million annual revenues.
  • The median revenue generated by a VIATeC 25 company is $17.5 million.
Learn more about the economic impact of Victoria’s tech sector here.

Tectorian of the Week: Greater Victoria’s Tech Sector

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Our Tectorian of the Week is Greater Victoria’s tech sector.

Why?

To mark the launch of Fort Tectoria this week, we decided to crunch some numbers (actually, we went out and spent time surveying local companies and then commissioned an independent professional researcher to collect and analyze the data using a rigorous methodology) about the size and scope of Greater Victoria’s tech sector.

Well, the numbers are in, and we’re astounded by the results:

$3.15 billion in annual revenues

That’s right: according to our latest economic impact study, the 884 local companies that make up Greater Victoria’s advanced technology sector now generate an estimated $3.15 billion in annual revenues.

Another astounding number:

$4 billion total economic impact

The total economic impact Greater Victoria’s tech sector has on our local economy now tops a whopping $4 billion ($4.03 billion to be precise; see below for an explanation of “total economic impact”).

Another astounding number:

$1.16 billion VIATeC 25 combined revenues

The combined revenues of the VIATeC 25 (the Victoria tech sector’s 25 biggest firms, according to revenues, that are founded or headquartered in Victoria) has reached $1.16 billion over the past year.

That’s 20 per cent growth in combined reported revenues to since this time last year!

The latest VIATeC 25 companies are listed here.

What a way to launch Fort Tectoria! And it’s all thanks to the Tectorians like you who power our ever-expanding tech sector.

Ten years of explosive growth for Victoria’s tech sector

VIATeC has been commissioning economic impact studies for the past 10 years, and since 2004 it is apparent growth in the tech sector is continuing to accelerate.

annual revenues greater victoria tech sector viatec

In 2004, VIATeC, with the help of an independent researcher and analyst, estimated tech sector revenues to be about $1 billion.

Five years later, a 2009 economic study that VIATeC commissioned estimated the sector’s revenues had grown to $1.95 billion.

And now in 2014, we estimate the tech sector annual revenues have grown to $3.15 billion.

Estimated economic impact has grown explosively as well.

In 2009, the estimated economic impact of the tech sector was $2.6 billion. And now in 2014, the estimated economic impact has grown to a staggering $4.03 billion.

We want to point out that these are conservative estimates: we’re always wary of statisticians using multipliers to determine economic impact.

Depending on which methodology one uses, the economic impact numbers could be higher.

Greater Victoria tech sector continues to produce jobs

According to VIATeC’s just-finished economic impact study, Greater Victoria’s tech sector that now directly employs 15,000 people as well as more than 3,000 consultants and advisers, and another 5,000 individuals working in technology for companies outside the high-tech sphere.

23,000 local tech professionals

That’s 23,000 people working in the tech sector, making Victoria one of Canada’s more fun and vibrant places to launch a career or a new business.

And that’s why you all are our Tectorian of the Week!

Greater Victoria’s growing tech sector: the latest statistics (as of 2014)

$4.03 billion: Total economic impact of Greater Victoria’s tech sector

$3.15 billion: Estimated annual revenues of Greater Victoria’s tech sector

$1.16 billion: Combined revenues of the top 25 companies based in Victoria (VIATeC 25)

884: Number of tech companies in Greater Victoria’s tech sector

15,000: Number of people directly employed by technology companies

Explainer: Direct Economic Impact Vs. Indirect Economic Impact

  • The direct impact – representing the total output (revenues) directly generated by companies in the sector – is estimated at $3.15 billion.
  • The indirect impact – representing the impact of those businesses who supply inputs to the technology sector – is estimated at $876 million.
  • Combined, the total economic impact of the high technology sector within the Greater Victoria region is estimated to be $4.03 billion.

Tectorian of the Week: Nikki Lineham

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Nikki Lineham is our Tectorian of the Week.

If you want a job in Tectoria (or any other city where technology powers the economy), science and math education (aka STEM education) is critical to your future success.

The problem? STEM enrolment in universities and college is declining (on top of that fewer women are taking STEM coursework in university), which is contributing to a looming skills shortage in Canada.

Accelerate Tectoria participant Nikki Lineham has a plan to change that.

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Nikki’s startup Educating Now aims to transform math education (Nikki will be presenting at the upcoming Demo Camp):

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“Educational and brain-based research have both consistently reported that teaching mathematics concretely and conceptually is the best way to ensure students really understand the math concepts,” says Nikki. “However, this way of teaching math is completely foreign to many teachers, as they have never been educated in how to understand mathematics conceptually.”

Her goal is to help middle school and intermediate teachers learn how to teach math more effectively – if middle school students do poorly at math, they will likely never be able to progress to STEM programs in college and university, and our brain drain will never be addressed.

“She’s super passionate about children really understanding math,” says Accelerate Tectoria’s Erin Athene. “Her passion and ability to communicate is really inspiring. Nikki’s gift is to empower intermediate and middle school teachers through professional development to teach mandated new curriculum.”

Nikki will be presenting at Demo Camp at Experience Tectoria – we hope you have a chance to learn more about her startup!

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Innovation Elsewhere – DARPA’s May “Demo Day”

Fully-functional prosthetic arms. “Unhackable” helicopter drones.

Educational games that teach kids fractions while teaching scientists how to refine training techniques for soldiers.

An augmented-reality helmet with a see-through screen over one eye, showing the wearer which route to follow by superimposing it on the landscape.

All were on display earlier this month at the DARPA “demo day” in Washington.

And what was on display wasn’t just science fiction.

DARPA, the Defense Advanced Research Projects Agency, has had a hand in many of the technologies we have come to rely on every day.

Siri and GPS all owe a lot to DARPA, as does the self-driving car, which appears to be just over the horizon.

The government research institute is also using Oculus Rift to help enhance cyberwarfare – they call it Plan X.

Plan X is supposed to train a cadet for an hour, so he or she can launch a cyberattack just as easily as launching a missile or as intuitive as playing as Angry Birds.

Most of DARPA Demo Day featured projects by the organization’s I2O unit, which has a software focus.

Some of the more interesting (or, depending on your point of view, more alarming) projects on display included:

MEMEX is an ambitious plan for a next-generation search engine that indexes the deep web.

Big Mechanism will enable computers to read journals and other sources of knowledge and extract intelligence about things like cancer, economies, and the brain.

Follow DARPA on Facebook, YouTube, or Google Plus.

Innovation Elsewhere – 3,700 Blu-Rays in a Single Cassette Tape

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Sony has developed a new technology that can store 185 terabytes on good, old-fashioned magnetic tape.

For example, three Blu-Rays’ worth of data can fit on one square inch of Sony’s new super-tape. One of these new tapes will store the equivalent of 3,700 Blu-Rays’ worth of memory.

In fact, one relatively cheap tape would hold five more terabytes than a $9,305 hard drive storage array.

In order to create the new tape, Sony employed the use of sputter deposition, which creates layers of magnetic crystals by firing argon ions at a polymer film substrate.

Combined with a soft magnetic under-layer, the magnetic particles measured in at just 7.7 nanometers on average, able to be closely packed together.

Sony developed the technology for long-term, industrial-sized data backup – storage tape shipments grew 13% two years ago, and were headed for a 26% growth just last year.

Tectorian of the Week: Graham Baradoy

graham baradoy

“There is something in the air in Victoria that makes you want to climb a mountain.”

So says Kiind‘s Graham Baradoy. Baradoy, a developer by trade, is a relatively recent transplant to Victoria. After working remotely with Kiind and cousin Leif Baradoy, Graham moved from Alberta to Victoria about a year ago.

And the move to Victoria seems has changed Graham’s life.

The biggest change?

Graham has shed 70 pounds, with more to go. He credits this achievement to the magnetic attraction of summiting nearby Mount Finlayson, plus all the other outdoor things you can do in Victoria year-round to keep active.

“When I thought about life in Victoria, I knew I would be getting healthier and happier,” Graham writes on his excellent blog.

But the real reason Graham Baradoy is Tectorian of the Week is because, since arriving in Victoria barely a year ago, he has jumped right in as a leader.

A true Tectorian, Graham reaches out to help others connect the dots to help build community via Whiskey Oriented Development.

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Whisky Oriented Development bills itself as comfortable place to meet other programmers from around town, learn what else is being worked on in Victoria, and pick up on some cool new technologies.

And the group drinks and discusses whisky along the way. Here’s what they got up to in April.

And there is still more to Tectorian Graham Baradoy.

Software developer by day, Graham recently received his Masters of Science in Kinesiology.

The topic of his thesis? “A Physiological Feedback Controlled Exercise Video Game.”

“I used a simple feedback loop in conjunction with a heart rate monitor and an active video game to control people’s heart rates,” Graham says on his blog.

“To a computer scientist, this is nothing overly special, but in fields like kinesiology which do not have the strongest relationship with computers, or the nerds who wield them, a few lines of code can change everything.”

So, Graham is well on his way to expanding Tectoria beyond the boundaries of coders and technologists. He is what community is all about.

So, if you’re thinking about a hike up Mount Finlayson, Graham is up for it.

Biking the Galloping Goose? Graham can do that too. If you like whisky and coding, Graham will introduce you to new friends.

He may inspire you to climb a mountain of your own.