Greater Victoria’s tech sector not only thrived during the pandemic but it is on track to reach its goal of $10 billion in annual revenues by 2030, its industry association said Thursday.
The report was prepared by Alan Chaffe, senior manager for economic research at the Conference Board of Canada and an instructor at the University of Victoria. It was commissioned by VIATEC, the Victoria Innovation, Advanced Technology, and Entrepreneurship Council. As in many other sectors, the number of people working full-time in an office in the tech sector declined because of the pandemic, sliding by 40 per cent, Gunn said. The number of people working from home doubled and those in a hybrid situation increased by 31 per cent.
Within the capital region, software engineering and development skills are most in demand, followed by marketing, sales and product management.Key advantages to attract people for the local tech sector include post-secondary institutions, a mild climate and favourable lifestyle and a shorter commute than in some other communities.
Tech firms said top barriers to success were recruiting technical staff and senior management. Next on the list were access to financing and factors such as limited government support, a reliable supply chain and access to new markets.