Waterloo Tech Sector jumps by 21% in 2 Years

According to the 2010 edition of the Waterloo Region Tech Directory and State of the Industry report, company growth in the Waterloo Region has jumped 21% over the past two years.

The full release of the 2010 Tech Directory will coincide with the Communitech 2010 Tech Leadership Conference slated for Wednesday, July 14 in Waterloo.

The study, based on a survey and an inventory of technology firms in Waterloo Region and area in January and February this year, says that the number of tech companies in the region has now hit 700 compared to 550 in 2008. Total invested venture capital in Waterloo Region tech companies exceeds $300 million, and tech firms account for $18 billion in annual revenues. It’s the first time that digital media has been mentioned in the report.

Other key findings in the study include:

  • Majority of regional tech firms are small to medium enterprises with 51 percent having between 1 and 5 employees;
  • Waterloo Region boasts 25 publicly-traded tech companies,10 of which have headquarters elsewhere;
  • Four of the five top 50 Canadian merger and acquisition deals were with Waterloo Region-based companies.
  • 30,000 people are employed in tech companies in the Waterloo Region.

Advance copies of the Waterloo Region 2010 Tech Directory are available at the Communitech offices in the Accelerator Centre, and will be available in full at the upcoming Tech Leadership Conference.