Vancouver is in the limelight for tech related businesses and startups in Canada and has has a name for it self as one of the best places for entrepreneurs. Since HootSuite raised a staggering 165 million dollars from its financing activities the city has gained further name recognition. TechVibes claims that, “The talent, the city, the outdoors, the visa perks – yes, it all makes for an enticing and optimistic location to launch your startup.” However it is said that the most important factor in this regard is the presence of incubators and such companies that encourage and support new ideas and businesses and this makes Vancouver a very attractive place for startups.
There are a number of incubators in Vancouver including Invoke Labs, GrowLab, Launch Academy and Wavefront. Keith Ippel of Invoke Labs says: “I’m often asked how we at Invoke Labs deal with the “competition” from other companies and organizations like GrowLab, Launch Academy and Wavefront. But I don’t see it as competition at all, because we all serve a distinct and equally important purpose within this ecosystem.” This statement shows how the multiple business incubators support each other and work together to nurture tech startups. He further explains that the various incubators work as an integrated network and not as competitors, with the help of the government and in this way the support system in Vancouver is strengthened.
Each of these companies has a different function to serve in the community and tech startups accordingly plan who they have to consult. For someone who thinks that they have a unique and innovative idea that can change the tech landscape but are not sure about how they can develop it, Launch Academy is the place. Here, they will help provide support and guidance to enhance the idea and take it to the next level.
On the other hand if the idea is somewhat developed and at its initial stages where some planning has already been done, Invoke Labs is a good option to obtain help. “Invoke Labs is where we equip you with the team to build out your minimum viable product (MVP) and support you and your cofounders to create a successful company.” This incubator facilitates startups by helping them to find out why they are having problems and how they can be improved and also helps in team building, strategic planning and gives advice.
After this coaching, startups have a number of options with which they can proceed. “For digital media companies, GrowLab is emerging as a Super Accelerator, leveraging its experience to power companies that have launched, established early traction, and are looking to drive the company to the next level. If you’re a mobile or wireless product, Wavefront has a full range of offerings that include usability testing, access to devices, mentorship, connections and strategic business planning to take your company onto the global stage.”
There are not just incubators and accelerators but also government incentives and programs that are there to help small businesses flourish. These include the Scientific Research and Experimental Development (SR&ED), Natural Sciences and Engineering Research Council of Canada (NSERC),The British Columbia Technology Industry Association and Industrial Research Assistance Program (IRAP).
This is why Vancouver is one of the best places for new tech startups because the support system is great in every way.
Source: TechVibes
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