The past five years have brought some major changes to Canada’s technology landscape. BlackBerry, the only iconic Canadian tech company of the last decade, laid off more than half its workforce and saw its market share plunge to nearly zero. Yet, BlackBerry’s implosion laid the foundation for the exciting and dynamic tech scene we see today.
Over the past few years, a startling number of tech startups have emerged across the country, as well as several new anchor companies like Shopify and Hootsuite. The growing number of new venture capital funds in Canada, particularly early-stage ones, are also helping to fuel this growth.
So, what will 2015 bring? Here are five predictions:
1. BlackBerry will successfully complete its pivot. There was a time when it was unclear if BlackBerry would continue to exist or be sold off for parts. Yet with a renewed focus on the “power” enterprise users in healthcare, government, and a few other sectors, BlackBerry has begun to stabilize. While the brand will never return to its 2009 status, we can expect to see a full financial turnaround and profitability in 2015.
2. At least one Canadian IPO. Traditionally, hot Canadian startups are acquired by U.S. tech giants. However, we now have several tech stars with lots of capital, great revenue and growth paths, and no apparent intention of selling. In 2015, at least one Canadian startup will file for an IPO on a major US stock exchange (and probably dual list here in Canada too). Shopify, Hootsuite and Vision Critical are the most likely candidates.
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