Waterloo Region and Guelph the tech sector to watch in North America

WATERLOO REGION — Communitech: Waterloo Region Technology Assocation will release the 2008 Waterloo Region and Guelph Tech Directory and State of the Industry Report on Thursday May 1, 2008 at its annual Tech Leadership Conference.

The publication, produced in partnership with the Waterloo Region Record and Canada’s Technology Triangle Inc, reveals rapid growth since the Tech Directory’s last issue, released in 2005. “Over the last decade, Waterloo Region has become one of North America’s leading concentrations of technology players, academic and industrial research and development, innovation, commercialization expertise, venture and early stage capital,” says Iain Klugman, president and CEO of Communitech.

Among the 2008 Tech Directory highlights:

- More than 500 technology companies are identified as being headquartered in the area, up from 327 three years ago

- Close to 30,000 professionals work in the Region’s growing tech sector, representing 10% of the Region’s workforce

- 2007 marked a record year of deal flow, with more than $300 million infused into start-ups in disclosed private equity investments

- 67% of leaders of tech firms are graduates of one of the Region’s post-secondary institutions; 30% are serial entrepreneurs; 30% were ‘born and raised in Waterloo Region/Guelph

- The local ICT sector is worth about $13B in revenue

- Key industries include wireless, software, web/internet, digital media, bioinformatics, biotechnology, environmental, and advanced manufacturing.

Klugman points to the Region’s culture as a key factor in its success: “We have a culture that celebrates risk-taking and entrepreneurship. More proof positive that this is the best place in Canada to build the best technology companies.”

The report will be distributed to the business community by the Waterloo Region Record in May. Advance copies will be available at the Tech Leadership Conference at Bingemans Conference Centre on May 1, 2008. The full-day event will bring 450 CEOs and tech professionals together around the idea of driving and surviving growth.