6 scribbles: What to watch in Vancouver tech in 2025
Pivots, startups, Summits.
Some quick notes on the year ahead!
- Something new: 2024 saw numerous local founders pivot to new ventures, whether by choice or circumstance. Geordie Rose left his CEO position at Sanctuary AI to found Snowdrop. Nejeed Kassam sold Keela and is now publicly working on four other ventures. Kristine Steuart, former co-founder of Allocadia, transitioned from an EIR role at iNovia to work on a new stealth startup. Ian MacKinnon, who co-founded Later, has an infosec startup in development. Michael Gilbert stepped away from unicorn Semios in 2021 and recently launched mytorso.ai. Meanwhile, we're all just waiting to see what former Panache Ventures general partner Chris Neumann announces next.
- Ch-ch-ch-ch-changes: Speaking of change, having been nearly defeated in October's provincial election, Premier Eby shook up his cabinet with a slew of surprising appointments. In 2025, watch for entrepreneur and rookie MLA Diana Gibson to make her mark as innovation minister, while her predecessor, Brenda Bailey, takes control of the province's purse strings – though how firmly remains to be seen.
- Room for debate: The US has a new administration, and Canada will almost certainly have one by Spring. The looming election campaign will likely become a referendum on Justin Trudeau's leadership and an indictment of Canada's cost of living crisis. The question is whether there will be any space, even a modicum, for discourse on tech policy.
- Default dead or dying: Last year was tough for startups – more than 3,200 venture-backed companies went under, according to the NY Times and Pitchbook. Deal volume seemed to be heating up in the back half of 2024, but 2025 will still see many startups continue to struggle. So we may see a repeat of this...
- Leadershift: BetaKit tracked nearly 50 CEO changes in 2024, including Rose's departure. Expect more executive turnover in 2025 – Vancouver won't be immune to this trend.
- Vitamin (we'll) see: Finally, as I've written before, Web Summit's move to Vancouver presents an opportunity to showcase the city globally, but it's not a magical solution for our tech ecosystem. Think of it as a "vitamin" – a helpful boost rather than a cure-all. While Vancouver technically punches above its weight in tech growth and investment, the conference could attract valuable international attention and investment. However, the same questions I posed before linger: Will the event solve real problems or amplify existing ones, like housing shortages and siloed tech communities? Success will depend on the story we tell the world and how well we integrate the local community into this global event.
How are you feeling about the year ahead? Respond with your thoughts and I'll integrate them into a future column.