Technology

Future is bright for Canadian tech startups: Venture capitalist

A Canadian venture capitalist said she sees a bright future for Canadian technology companies, with a more sophisticated funding ecosystem backing them and strong global demand for innovation.

Sophie Forest, managing partner at Brightspark Ventures, spoke with BNN Bloomberg on Thursday about the changes she’s seen over three decades in the industry.

“We do have capital to deploy, and the industry is more mature. There is an ecosystem to support the startups that has been growing,” Forest said in a television interview. 

“It's a bright future for Canadian startups.”

Forest said the outlook for tech is positive in the long run, with growing demand for technologies related to climate, health care and the environment. 

She also noted that the venture capital industry has grown, with more funding involvement from pension funds and banks acting as lenders.

As for her company’s investment approach, Forest said there is a focus on the people behind the ideas: founders and entrepreneurs who have ambition to carry their companies through a lengthy growth period.

“It takes a long time to create a great company,” she said. “A company goes through a cycle. There's going to be risks, there's going to be challenges, but you need the support of the ecosystem and the investor (for) the company to become a large international player.”