Canadian tech companies raised nearly as much venture capital as they did in all of twenty nineteen, and that was a pretty good year. Just look at the first six months of this year. But it was also fueled by a new generation of tech entrepreneurs who not only wanted to take risks but were committed to building global companies in Canada in twenty twenty one, a lot of those startups started to take off. It was driven, of course, by lower interest rates, new tax laws, a lot more venture capital and the rapid shift toward digitization. The boom actually started several years ago. But, you know, there’s one sector that has thrived through the pandemic and of course, that’s technology. We’ve just been through the most extraordinary in some ways the most unbelievable economic disruption of our lifetime. In this episode, John also mentions a new report from the RBC Economics and Thought Leadership Team called The Coming Creativity Boom: How human ingenuity will power the 2020s. If you want to understand more about the record VC year for Canadian tech startups-and how that looks in the global context-check out CB Insights’ State of Venture Q2’21 Report via this link (registration required). To learn about Clearco and its financing model for entrepreneurs, follow this link. In this season finale for Disruptors, an RBC podcast, host John Stackhouse speaks with Clearco co-founder and Dragons’ Den superstar Michele Romanow about the crazy pandemic year for Clearco, her entrepreneurial journey-she’s also founded a coffee shop, caviar fishery and mobile couponing app-and what she thinks it will take for Canada’s booming tech sector to continue to “kick butt and take names.” This past June, Clearco raised $215 million in a round led by Japan’s SoftBank this followed a round in April that quintupled Clearco’s valuation to $2 billion. One of those unicorns is Toronto-based Clearco-founded in 2015 to help entrepreneurs raise money through revenue-sharing agreements. Twenty-two companies have had financing rounds of $100-million or more during this stretch-while 10 achieved “unicorn” status, now valued at over US$1-billion each. In the first half of 2021, Canadian tech companies raised nearly as much venture capital as they did in all of 2019. Listen on Apple Podcasts, Google Podcasts, Spotify or SimplecastĬanada’s technology sector is having a year unlike any other.
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