British Columbia’s reputation as a hub for innovation and startups continues to grow, according to a new study by the Conference Board of Canada.
In How Canada Performs: Innovation, the province was given an A+ grade when it comes to “entrepreneurial ambition”. Daniel Munro, a principle research associate with the Conference Board of Canada said this bodes well for the province’s economic outlook.
“I think the most promising thing for B.C. is they ranked really highly when it comes to starting a business,” added Munro. “So there’s lot of ambition there as well as a great spirit.”
The report graded every province along with a national outlook and fifteen other countries. B.C. got an overall score of B, outranking Canada as a whole and tying with the U.S., Ontario, Quebec and countries such as Switzerland and the Netherlands. Sweden, Denmark and Finland were the only countries to get an overall A grade.
B.C. scored an A on “venture capital investment”, the only province besides Quebec to garner the high grade. Munro said this category is broken down into two groups: young businesses looking for startup cash and established businesses looking to expand and develop.
“B.C. is really leading the way when it comes to venture capital money,” said Munro. “Going from sort of middle of the pack to being at the forefront when it comes to gathering funding.”
However B.C. did score a D- when it comes to “business enterprise research and development.”