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Economic Impact of Companies Supported by the Venture Capital Action Plan – December 31, 2019

This page includes an analysis of the economic impact on a representative group of Canadian companies that received investment by venture capital funds supported by the Venture Capital Action Plan (VCAP) up to December 31, 2019. For 2019, data was reported for 178 out of 347 Canadian companies.

Please note that this data is unaudited and reflective of voluntary reporting from underlying funds; it may not be suitable for year to year comparisons.

Table 1: Key statistics of companies supported by VCAP
  Companies reportingFootnote 1 Total Average
Employees 178 23,743 133
Revenue 2019 178 $3,966,363,661 $22,282,942
Revenue growth (2018 to 2019) 178 36% 35%
Table 2: Distribution of companies supported by VCAP by annual revenue
Revenue Range Number of companies
within the rangeFootnote 1
Average revenue growth
(from 2018 to 2019)
$0 17 0%
$0–250K 29 100%
$250K–1M 29 207%
$1M–10M 56 107%
$10–100M 38 76%
$100M+ 9 61%
Total 178 35%
Table 3: Number of employees of VCAP-backed companiesFootnote 2, by industry sector
Sector Number of employees
Number % of total
ICT 18,111 76.3%
Life sciences 3,751 15.8%
Energy and clean technology 1,725 7.3%
Other 156 0.7%
Total 23,743 100.0%
Table 4: Number of employees of VCAP-backed companiesFootnote 2, by province
Region Number of
companies
Number of employees
Number % of total
BC 21 1,917 8.1%
AB 10 1,143 4.8%
SK 2 203 0.9%
MB 2 345 1.5%
ON 101 11,789 49.7%
QC 39 8,209 34.6%
NB 1 84 0.4%
NS 2 53 0.2%
Total 178 23,743 100.0%

Footnotes

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