The Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) are proclaiming that “Tech is Back!” with a new campaign, accompanied by a video that compresses a seven-year narrative into 85 seconds, depicting the growth of Canada’s technology and innovation sectors, including the Technology, Clean Technology and Life Sciences categories.
Over that time, there have been 178 technology IPOs and new listings, $34 billion in equity capital raised by listed technology companies, and a $128 billion increase in the market value of technology companies listed on the TSX/TSXV.
Since 2014, the tech sector has seen more significant growth than any other industry sector, other than ETFs, with 75 new technology and innovation companies going public, and 14 technology and innovation companies having graduated from the TSXV to the TSX, the highest graduation rate across all sectors.
“Canada’s thriving technology and innovation sector—which includes technology, clean technology and life sciences companies—is enjoying a resurgence on Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV),” said Nick Thadaney, President & CEO, Global Equity Capital Markets, TMX Group. “Some of the world’s most exciting technology companies are being founded, built and funded in Canada, and TSX and TSXV will continue to support a strong and vibrant Canadian technology and innovation sector.”
With a nod to the entire technology ecosystem, including accelerators, private investors, VCs, and public company investors, the TSX is calling attention to the momentum apparent in the tech sector, or what watchers of the space hope may translate into a full-blown sector rotation, adding a wish that these trends build and continue through 2016 and into the next year.
Keeping that in mind, the TSX will be promoting a series of initiatives, including the TSX Ignite peer-to-peer learning series, TSX/TSXV executive networking dinners, access to capital and IPO preparedness workshops, TSX Learning Academy programs for public and private companies, TSX/TSXV Investor Days (showcasing public and private companies to 100+ investors), the TSX/TSXV Start-up Showcase (showcasing startups to 100+ investors), and TSX/TSXV startup mentoring and referral programs, all in hope of fostering Canada’s tech ecosystem.
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Pointing to the fact that the tech sector is on government’s radar for the first time in many years, the TSX commended Prime Minister Justin Trudeau for positioning Canada as “an engine of innovation” at the World Economic Forum in Davos, Switzerland in January, noting his wish that Canada play an important leadership role in what’s being referred to as the “fourth industrial revolution”, or the fusing of technologies at an unprecedented speed, scale and scope.
As of today, there are over 420 companies in the technology and innovation sector on the TSX and TSXV, a significant growth that the exchange hopes to build on.
Both the TSX and TSXV support the growth of technology and innovation companies at all stages of development, from micro-cap to mega-cap, as well as tech investors.
“The spirit of entrepreneurship in Canada and the success of our small and medium-sized enterprises are of vital importance to our country’s economy,” said Thadaney. “The goal of the innovative and collaborative TSX Ignite program is to work alongside top industry advisors and executives to mentor burgeoning companies across Canada and help them establish a foundation for growth.”
The TSX/TSXV is promoting their “Tech is Back!” campaign with a newly created Twitter account, @tsx_tsxv, and a #TechIsBack hashtag.
Some of the IPO high points on the TSX and TSXV in 2015 include:
- Shopify Inc. (TSX: SH), which provides cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The company’s platform provides merchants with a single view of their business and customers across all of their sales channels.
- Stingray Digital Group Inc. (TSX: RAY.A), a business-to-business multi-platform music and in-store media solutions provider. Its products include digital music & video services like Stingray Music, Stingray Concerts, Stingray Music Videos and Stingray Lite TV.
- Mogo Finance (TSX: GO), a full credit spectrum lender of consumer loans and prepaid credit cards to consumers across Canada. The company delivers its products through their online lending platform and nine branches located in cities across Canada.
- Frankly Inc. (TSXV: TLK) is engaged in developing and servicing instant messaging and social network applications for consumers and instant messaging software development kit for business partners.