B.C. Industry News
Business in Vancouver – Rocket Builders releases list of B.C. tech companies set to explode in growth
March 14, 2014
Rocket Builders today released its 12th annual â€œReady to Rocketâ€ lists of British Columbia technology companies that are â€œbest positioned to capitalize on the technology sector trends that will lead them to faster growth than their peers,â€according to technology blog Techvibes.
The three listsâ€”which cover the sectors of information and communications technology, cleantech, and life scienceâ€” provide accurate predictions of private companies that will likely experience significant growth, venture capital investment or acquisition by a major player in the coming year, according to Rocket.
â€œThe technology sector continues to grow in B.C. and presents a growing challenge to select and identify the most likely to succeed,â€ said Geoffrey Hansen, Managing Partner at Rocket Builders. â€œThree elements characterize these â€˜most likely to succeed’ high growth firms: a growing market opportunity, a unique competitive position and customer validation of a must-have value proposition.â€
â€œThe majority of companies on the Ready to Rocket lists do the majority of their business in the United States,â€ added Reg Nordman, Managing Partner at Rocket Builders. â€œEconomic growth in the USA was modest (about 2%) in 2013, but is expected to be well over 3% in 2014. This economic boost, along with the weakening Canadian dollar, is expected to give B.C. technology companies a revenue boost next year. In past years when the Canadian dollar weakened, Ready to Rocket companies were able to be more competitive and increase profitability.â€
Winners of the information and communication technology (ICT) list include Clio, ePact Network, Kashoo, Recon, Payfirma, and Wishpondâ€”all tech startups regular Techvibes readers will recognize.
â€œThe number of ICT companies in B.C. continues to grow, with a number of high profile accelerators contributing to this trend,â€ said Steven Forth, Senior Partner at Rocket Builders. â€œThe ICT sector as a whole has been driven by cloud computing, mobile and social trends and technologies, and we see those factors driving many of the B.C. companies. Of particular interest is the trend of the â€˜Internet of Things’ and â€˜Big Data’ which seems to be influencing some of the emerging companies.â€
Winners of the Cleantech list include Axine Water Technologies and Solegear Bioplastics, also companies Techvibes has covered in the past.
Winners of the Life Science list include Ayogo and Phemi Health, more startups boasting Techvibes coverage.