The Okanagan is growing into a major hub for technology and innovation.
Accelerate Okanagan, located in downtown Kelowna in the Innovation Centre, helps technology startups throughout the region grow through connections, community and mentorship.
“The Okanagan tech industry is a $4.98 billion economic impact annually, which is huge for our region and creating massive effects here,” said Brea Lake, CEO of Accelerate Okanagan.
“Around 800 technology companies and a workforce of around 32,000 individuals working in that.”
Local entrepreneurs have also found a strong community at Accelerate Okanagan.
“One of the best experiences would be the network around here, building a business is difficult and you need a lot of peer support,” said Cailan Libby, founder and CEO of Happipad.
Libby is an entrepreneur who started his business in Kelowna, creating a rental marketplace for community-minded landlords offering housing for monthly stays. Happipad now operates across Canada.
“The city came forth and created a hub where there’s a real sense of community, where companies are helping each other,” says Calum Hughes, Co-Founder of Inca Renewable Technologies, which develops car parts made from plant fibres.
“There’s real power in working together.”
Accelerate Okanagan supports communities from Osoyoos to Salmon Arm.
In 2013, the Okanagan tech sector contributed nearly $100 million to local government coffers, over $400 million provincially and over $500 million federally in government revenues.
An economic impact study at the time found lifestyle, weather, low commute times and community are the biggest advantages to setting up a tech business in the Okanagan.
Headwinds slowing growth of local tech firms include access to capital, markets and talent, something Accelerate Okanagan works to mitigate with its accelerator programs, mentorships and workshops.
Article sourced from Castanet
