Vancouver is positioning itself as a significant player on the planet map of digital media creation and development. Ten years ago, the pose was wishful thinking predicated on forecasted potential. Now, after a decade of hard work from key parties-entrepreneurs, skilled and creative knowledge workers, angel and venture capital investors, and educators–the vision has become reality.
Figures on how big is British Columbia’s digital media industry vary. At the top quality of the product range, industry watchers estimate the sector’s size at over 1000 companies employing a lot more than 16,000 people generating $2.3 billion in annual revenue. B.C. digital media industry players run the gamut from small start-ups and specialized shops to international brands like Electronic Arts and Radical Entertainment.
B.C. struggled for many years to diversify its economy and break free of dependence on cyclical, commodity-based resource and extraction industries digital marketing pros in Vancouver BC. Government policy and encouragement played a part in securing B.C.’ s current place on the global new media map.
Key factors driving digital media growth in B.C.
Several key factors are the key drivers behind Vancouver’s current status as some sort of leader in digital media. Conditions are ripe for continued growth, success, and investment opportunities. Vancouver has available talent, angel and venture capital investors willing to evaluate and finance new ideas and early stage ventures, educational and government support, and a growing appetite and demand worldwide for digital media products and services.
Another key aspect in B.C.’ s success formula is location. Vancouver’s Lower Mainland region is an excellent place to live with ample professional and recreational options. Skilled people who have ambitious ideas have choices. They weigh the professionals and cons of locating a business or in B.C. or elsewhere. Opportunities with companies at all stages of growth and an appropriate setting for working and living have reduced the flight of skilled people.
The Canadian knowledge worker brain drain is now a brain gain. New and established companies are luring expatriates back and drawing newcomers to Vancouver to work for and run companies from start-ups to established large-scale enterprises. People are remaining in Vancouver to create businesses because the weather they require for success are present.
Vancouver’s digital media start-up and private investment scene
Another key aspect in the emergence of Vancouver as an electronic digital media centre could be the growth of an entrepreneurial culture. The high visibility and openness of American start-ups and angel and venture capital investors provided models for Canadian entrepreneurs and financiers. Now, people who built successful companies locally or elsewhere are choosing to create new ventures or re-invest in B.C.
As a result, Vancouver posseses an established start-up culture. People who have business ideas seeking capital now have local venture capital and angel investor options along side established American financing sources. Money, financial understanding, and a willingness to risk put private Vancouver investors in the mixture of options for entrepreneurs seeking financing.
Vancouver has a thriving, active, and visible angel and venture capital investment community. Entrepreneurs now have more avenues in Vancouver for meeting with private investors and to make private investment deals. Skilled and creative folks are remaining in the province to turn ideas into viable products and services rather than trying to the United States for almost all their funding, talent, and infrastructure.
New media industry in B.C. set for future growth.
Experienced local digital media entrepreneurs with access to angel and venture capital is just a potent combination for growth. Vancouver has a critical mass of skilled people starting and building businesses and exploring financing options provided by private investment funds, investor groups, and individuals.
Vancouver is just a desirable place to live and do business. B.C. has the engineering, business, and creative talent to dream up ideas, bring them to advertise, and develop ongoing revenue streams. Vancouver even offers angel and venture capital options for new and growing B.C. digital media ventures seeking local investment funding. The pieces are in place for continued new media industry investment and growth in B.C.