Blue Book: Tech & Innovation 2021 Outlook
The COVID-19 pandemic has led to a massive acceleration in the shift to digitization; as a result, the technology and innovation sector has benefited significantly over the past year.
So many participants in the economy have adopted e-commerce platforms at a greater speed; while disruptive, the pandemic has been a catalyst for new digital adoption. Software based tech companies, in particular, have benefited from this. As well, many biotech and life science firms have received more financing as part of the effort to fight the virus.
We were impressed by the speed with which companies in the technology sector adapted to the new normal. The pandemic has acted as an accelerant for companies, such as in education – particularly remote learning – and cybersecurity (given the surge in e-commerce and working from home).
They were also able, in a time of global uncertainty, to pivot and change on delivery and staffing models. They are making particularly good use of new possibilities for the courting of employees – with the work-from-home model, there’s a broader geographic pool of candidates available to them.
Within the industry overall, we saw a slight but understandable blip in March and April, in some subsectors, but business models proved to be quite resilient and by summer, many valuations returned to previous levels or even surpassed them. Overall access to capital, both debt and equity, continues to remain very strong, and industry players are bullish about 2021 as a result.
Across the country, we’ve been watching our technology ecosystems closely – particularly those in Toronto, Waterloo, Montreal and Vancouver, and Canadian businesses, both established and emerging, continue to access global markets.
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Andre Salvi
Head, Commercial Dealer Finance, Canada
Andre Salvi is Head, Commercial Dealer Finance, Canada. Having joined BMO in 1999, Andre has held senior roles in BMO’s investment banking; private equit…(..)
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Devon Dayton
Head, Technology Banking, Growth & Innovation
Devon Dayton has over 15 years of experience in Corporate & Commercial banking and is currently Head, Technology Banking, Growth & Innocation at BMO. …(..)
View Full Profile >The COVID-19 pandemic has led to a massive acceleration in the shift to digitization; as a result, the technology and innovation sector has benefited significantly over the past year.
So many participants in the economy have adopted e-commerce platforms at a greater speed; while disruptive, the pandemic has been a catalyst for new digital adoption. Software based tech companies, in particular, have benefited from this. As well, many biotech and life science firms have received more financing as part of the effort to fight the virus.
We were impressed by the speed with which companies in the technology sector adapted to the new normal. The pandemic has acted as an accelerant for companies, such as in education – particularly remote learning – and cybersecurity (given the surge in e-commerce and working from home).
They were also able, in a time of global uncertainty, to pivot and change on delivery and staffing models. They are making particularly good use of new possibilities for the courting of employees – with the work-from-home model, there’s a broader geographic pool of candidates available to them.
Within the industry overall, we saw a slight but understandable blip in March and April, in some subsectors, but business models proved to be quite resilient and by summer, many valuations returned to previous levels or even surpassed them. Overall access to capital, both debt and equity, continues to remain very strong, and industry players are bullish about 2021 as a result.
Across the country, we’ve been watching our technology ecosystems closely – particularly those in Toronto, Waterloo, Montreal and Vancouver, and Canadian businesses, both established and emerging, continue to access global markets.
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