Economic impact study launched for Okanagan tech sector

Tech companies in the Okanagan are being asked to take part in new study looking into their industry.

Accelerate Okanagan (AO) is spearheading an economic impact study of the sector.

The study will measure key economic outputs like jobs, revenue, and investment, while also exploring the unique opportunities and challenges that come with growing a tech business in the Okanagan.

The study will also dive deeper into understanding the different subsectors of tech taking shape in the region, such as advanced manufacturing, artificial intelligence, aviation, and clean technologies.

Accelerate Okanagan is asking for tech companies in the Okanagan, from Osoyoos to Salmon Arm, to participate. The survey takes 20 minutes to complete and can be done anytime before June 30. The final public report will be published in the fall of 2024.

4AG Robotics CEO Sean O’Connor, said it’s more important than ever to rally around the goal of building a world-class tech ecosystem in the Okanagan.

“Studies like this are why Accelerate Okanagan has become the backbone of the Okanagan tech ecosystem. It’s a central hub for helping startups in the region stay connected and access resources, and they’re working to show that we can punch way above our weight,” O’Connor stated.

The last economic impact study for the tech sector was conducted in 2017. Since then, the Okanagan has experienced the impact of many local and global changes, including an increase in remote teams, an influx of expertise and talent, the opportunities and changes brought by tech exits and/or acquisitions, and the repercussions of the pandemic.

”Benchmarking and understanding the performance of a sector is critical for informing policymakers and allocating resources,” Krista Mallory, Manager at the Central Okanagan Economic Development Commission, said. “We are looking forward to seeing the results and uncovering new opportunities for businesses in the Okanagan”.

Accelerate Okanagan has contracted KPMG to conduct the study, and several aligned organizations, including the City of Vernon, the Central Okanagan Economic Development Commission, Tourism Kelowna, Okanagan College, UBC Okanagan, and the Kelowna International Airport, have come on board to support it.

To participate in the study, visit Accelerate Okanagan’s Economic Impact webpage.