The State of Canada’s Tech Sector, 2016 is a new report produced by the Brookfield Institute for Innovation + Entrepreneurship (BII+E) in conjunction with a number of key partners.
To date, we have only had a limited view of how pervasive of an impact technology—and technology‐related jobs—has had on the size of our economy and its contribution to our workforce. The purpose of this pan‐Canadian report is to capture the sector’s contribution to Canada’s economy. To do this, we have developed our definition from the ground up by adopting and applying methodologies first used by the UK’s Nesta, the United States Bureau of Labor Statistics, and the Brookings Institution.
Read this report to help you:
- Identify the industries that comprise Canada’s tech sector,
- Identify the tech sector’s economic contribution to Canada’s economy,
- Identify the tech sector’s contribution to Canada’s innovation ecosystem, and
- Identify the characteristics of the average tech sector firm and employee.
This report shows that the tech sector is a critical component of Canada’s economy. In 2015:
- The tech sector was directly responsible for $117 billion or 7.1 percent of Canada’s economic output, greater than that of the finance and insurance industry.
- 864,000 Canadians were employed in the tech sector, which made up 5.6 percent of Canada’s total employment.
- At over $9.1 billion, the tech sector was by far the largest private sector investor in research and development.
- The tech sector was also comprised of nearly 71,000 firms that year, representing 6.1 percent of all Canadian businesses.
- Tech sector employees earned approximately $67,000 a year, compared to the national average of nearly $48,000.
Also included as part of the report are regional breakdowns and a downloadable infographic, visually demonstrating the report’s key findings.
We would like to thank MaRS and Communitech for their financial support in developing this report and John Ruffolo of OMERS Ventures for initiating this series. We would also like to thank our partners for their feedback and encouragement.