TSX Group CEO Praises B.C.’S “Stunning Turnaround” - Richard Nesbitt Tells BCTIA That Province Is Assuming A Leadership Role In Shaping Canada’s Future, Especially In The Field Of Technology

In his opening remarks to the British Columbia Technology Industries Association’s Awards Dinner (BCTIA), TSX Group CEO Richard Nesbitt pointed out that B.C. is making major strides as a competitive North American centre for technology.

He cited a recent Environics survey directed at finding out what states or provinces were viewed by venture capitalists as the most competitive places in which to do business. The most recent survey put B.C. ahead of every other Canadian province and ranked it only behind California, Washington State and New York – the homes of some of the major tech companies in the world. This is a far cry, Mr. Nesbitt noted, from a dead last ranking a few years ago.

“For a province that only a few short years ago flirted with have-not status, the turnaround has been stunning,” added Mr. Nesbitt.

Supporting his position of B.C.’s importance to the capital markets, Mr. Nesbitt offered these statistics. “Out of 287 tech listings on TSX Venture Exchange, 99 are from B.C. – 34 per cent. In fact, 44 per cent of Venture’s listings are B.C. companies. Last year, Venture companies raised more than $4 billion in financing, and nearly half was raised by B.C.-based companies.”

And on Toronto Stock Exchange, the story is a little less dramatic but no less convincing – 19 per cent of TSX tech listings are based in B.C.

Mr. Nesbitt’s remarks are available on tsx.com.