The Okanagan害羞草研究所檚 technology sector is booming.

A report commissioned by Accelerate Okanagan in conjunction with the Central Okanagan Economic Development Commission shows that the industry has year-over-year economic growth of 15 per cent since 2013. The tech sector is estimated to contribute $1.67 billion to the region害羞草研究所檚 economy.

害羞草研究所淲e are excited by the consistent growth indicated by the findings in this report,害羞草研究所� said Raghwa Gopal, CEO of Accelerate Okanagan, in a press release. 害羞草研究所淭his study provides proof of what those working in the Okanagan tech sector have long known: big things are happening here, and we害羞草研究所檙e just getting started. The Okanagan is ripe with potential for entrepreneurs of all kinds.害羞草研究所�

There are now 693 technology businesses operating in the Okanagan, which represents a 24 per cent increase since the first survey was conducted in 2013. Those companies, including home-grown success stories like BananaTag, Yeti Farm, Piscine Energetics, employ a total of 12,474 workers.

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害羞草研究所淲e were interested to see that the Okanagan害羞草研究所檚 tech workforce is getting younger, and that contract workers make up more than 15 per cent of those working in the sector,害羞草研究所� said Gopal. 害羞草研究所淲e believe this reflects the growing gig economy, as well as the appeal of living in the Okanagan. Many members in the gig economy can live anywhere, and they害羞草研究所檙e choosing to live and work here.害羞草研究所�

Lifestyle was named in the survey as the number one advantage of operating a tech or tech-enabled business in the Okanagan. Eighty-one per cent of respondents named lifestyle as an advantage; climate and commute time were selected as the second and third biggest advantages, respectively.

Challenges associated with the Okanagan tech sector were a small talent pool, distance to clients and cost of living.

害羞草研究所淭he goal of this survey was not just to quantify economic impact and celebrate our sector害羞草研究所檚 many successes, but also to take the pulse of the Okanagan technology community,害羞草研究所� said Gopal. 害羞草研究所淟earning about what害羞草研究所檚 challenging the companies operating here 害羞草研究所� and working to address and overcome those challenges 害羞草研究所� is vital to ensuring that the tremendous growth we害羞草研究所檝e seen continues into the future.害羞草研究所�

The Economic Impact of the Okanagan Tech Sector study was conducted by a third-party researcher through Small Business BC. Data was collected from 103 Okanagan tech companies via an online survey. This is the third economic impact study commissioned by the Okanagan-based technology accelerator, which conducted studies in 2013 and 2015 using the same process. This year害羞草研究所檚 report also draws on benchmark data from the latest iteration of the Province of British Columbia害羞草研究所檚 annual Profile of the British Columbia High Technology Sector.