Posted by Frank on Mon 09th Mar, 2020 - tori.ng
2020 is a great time to be a tech investor in Canada. From the new silicon valley developing in Canada's major cities, to unique investment opportunities across North America, Canada is on the right track to expanding its influence and building up its GDP.
Canada has the best approach to digital space
Silicon-Valley companies base their interest on the internet. When the country has the best appraoch to digital space in general, they get attention from billion-dollar tech-giants. Canada has one of the best internet laws in the world. Apart from that, Canada’s government is known for liberal decisions regarding tech companies. Country authorities are the biggest preachers of internalization and making their economy digitally responsible.
Liberal appraoch to online companies happened with the gaming sector. Canada is very popular because of video and online gaming. The country has leading companies not only in video gaming space but also in digital gambling. Casinos have been allowed in the country from the 20th century. It’s been a decade since local casinos got the right to adapt to the internet. Liberal decisions of government gave the green light to casinos to offer online games including slots, roulette, etc.
Since 2017, the online gaming industry implemented a new type of payment - crypto. Bitcoin has changed the gaming sector entirely as they have been many gamers interested in Canadian casinos. Unlike other countries where governments have rejected crypto rise, Canada was following the trend. Along with the crypto trend, Canadian casinos offered bitcoin games. Games based on Bitcoin was the new wave for online casinos in Canada. As interest grew in Bitcoin, online casino’s rating went above accordingly. Liberal decisions like this can make a big impact in the long-run. Liberal approaches of government are an important signal for silico-valley companies.
Why Silicon Valley-based startups move to Canada
For the past few years, the Canadian government has poured money and resources into the underdeveloped tech industries in the hopes of one day moving their overseas corporations to return. To fall behind the U.S. or Europe was not an option. Because of the Super Custers Initiative and three years of patience, Toronto, Edmonton, and Vancouver have a boom in AI technology. The rise of this specialized industry has led to the best universities in the country, creating more classes and programs that now center around AI. This means that well-educated Canadian University graduates don't have to look to the U.S. for tech jobs. With the addition of foreign workers who specialized in STEM-related fields, thanks to the revamped VISA program, the A.I. boom is rising with no end in sight.
Biggest startup deal in Canada's history: $250 million as an investment for Clio
In the years before, Clio has ten years and $26 million behind it in its investing rounds. Today Clio, a cloud software technology leader based in Canada, has rocked the legal industry with a $250 million funding boost. Clio is dedicated to fixing problems in the U.S. legal industry, as many legal cases don't receive the proper resources they need. This is because the current system is outdated and cannot keep up with demand because of its obsolete processes. Clio's cloud-based technology will change everything. With their new investors, TVC and JMI, Clio will bring innovation for current and legal services. Customers of Clio will soon see an improvement in both services and in the way their clients can promote and grow their practices.
Canada's startup eco-system success comes from little cases like Shopify
The 4th quarter of the business year has ended well for Shopify, thanks to the addition of over 1 million clients. The online company has improved services and made its website more user-friendly and intuitive. It has also increased its international services, and because of it, Shopify now has 150,000 customers in over 175 countries. Now, the company offers services in more than a dozen languages and can use several countries' currencies instead of relying on the U.S. dollar. The current financial situation of Shopify is a healthy one, as clients are happy, and investors develop trust in the company. Their improved services included Shopify email, for the creation of marketing campaigns, and Shopify Fulfillment, which is a software system for warehouses and their clients to communicate with one another Shopify's headquarters is based in Ottawa, Canada.