Economic Impact of Companies Supported by the Venture Capital Catalyst Initiative – December 31, 2020

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 Catalyst Initiative (VCCI) up to December 31, 2020. For 2020, data was reported for 78 out of 153 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 VCCI
  Companies reportingFootnote 1 Total Average
Employees 78 8,161 105
Revenue 2020 78 $1,171,250,687 $15,016,034
Revenue growth (2019 to 2020) 78 Not available 69%
Revenue outside of Canada 78 Not available 44%
Research and development expenditure 78 $470,209,570 $6,028,328
Table 2: Distribution of companies supported by VCCI by annual revenue
Revenue range Number of companies within the rangeFootnote 1 Average revenue growth
(from 2019 to 2020)
$0 10 0%
$0–250K 8 10%
$250K–1M 11 0%
$1M–10M 29 52%
$10–100M 17 48%
$100M+ 3 96%
Total 78 69%


Table 3: Number of employees of VCCI-backed companiesFootnote 2, by industry sector
Sector Number of companiesFootnote 1 Number of employees
Number % of total
ICT 57 7,011 85.9%
Life sciences 11 553 6.8%
Energy and clean technology 10 597 7.3%
Other 0 0 0.0%
Total 78 8,161 100%
Table 4: Number of employees of VCCI-backed companiesFootnote 2, by province
Region Number of
companies
Number of employees
Number % of total
BC 8 747 9.2%
AB 2 243 3.0%
MB 1 371 4.5%
ON 45 2,325 28.5%
QC 20 3,831 46.9%
NB 1 12 0.1%
NS 1 632 7.7%
Total 78 8,161 100%

Footnotes