Welcome to this week’s Thursday Feature! If you're surprised not to see William's face on the newsletter today — hello 👋 I'm a new writer at Victoria Tech Journal and you'll be seeing a lot more of me in your inbox. I love all things climate, agriculture, and oceantech. If you have any stories, reach out at [email protected].In this issue, read about how Victoria ranks among Canadian cities for VC investment, and how local companies are giving the region national attention.

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Victoria ranked as a top-10 Canadian city for VC deals in 2022

Venture capital investment into Victoria proved strong in the first half of the 2022 fiscal year, according to the The Canadian Venture Capital and Private Equity Association's venture capital market overview. This was spearheaded by Certn, which raised $65 million to scale its background-check solutions, but well-supported by Audette ($12.8 million for building decarbonization) and Origen Air ($1.5 million for plant-based air purification). The report found that investment values have normalized across the country, returning to pre-pandemic levels found in Q2 of 2019. Among top Canadian cities for VC deals, Victoria ranked ninth, with six deals valued at $101 million. However, the city punches well above its weight considering the value of dealflow relative to the city's population. Victoria's VC investment was up to four-times greater in value than larger cities that hosted more deals, such as Edmonton (11 deals at $30 million) and Ottawa (eight deals at $23 million).

Victoria is becoming a notable city for both founders and investors, as Michelle Scarborough, managing partner at the Business Development Bank of Canada (BDC), told Victoria Tech Journal: "Victoria is a burgeoning market. The tech scene is starting to get really, really hot there, which is really interesting to see."

As the macroeconomic environment continues to tighten — with anticipated lower investments in later- and growth-stage ventures — we'll have to see how private capital continues to invest in Victoria tech during the second half of the 2022 fiscal year.

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📰 More Victoria innovation news

📈 Victoria tech is growing, fast: Certn was ranked as B.C.'s top-growing firm, according to Deloitte's Technology Fast 50. Erica Pretorius, a Vancouver-based partner in risk advisory who leads Deloitte’s local telecommunications, media, and technology division, noted that digital identity verification was an emerging trend to watch.

🏢 BC Tech's State of the Nation: Saanichton's Redlen — the imaging technology company acquired by Canon last year — was interviewed by the BC Tech Association alongside 11 other B.C.-based companies to share insights for the Association's State of the Nation report.

🧠 AI and supply-chains: Audette is set to participate in MaRS Supply AI summit next week, bringing its perspectives on building technology to decarbonize the real estate industry at scale. The event brings together Canadian ventures and investors to explore how AI and machine learning can make supply chains more resilient, efficient, and profitable.

🕴️ Tech jobs of the week

Find your next career:

• QA Analyst at Megabyte Programming Services

• Back-End Developer at Momentum Dash

• Business Development Representative at Vinn Automotive Technologies

• Technical Analyst at BC Public Service

Hiring in Victoria? Reply to this email and let us know!

📅 Upcoming events

November 17: BattlePong

November 24: Unthinkable Thursday - Monthly Event

December 8: 2022 Victoria Tech Community Awards

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