Waterloo Region is known as one of the fastest-growing tech hubs in North America and new data backs it up.
A new Commercial Real Estate Services report shows between 2018 and 2023 the region added 9,100 tech workers. That’s a 45.5 per cent increase.
So, what’s the draw?
At least one of them is the University of Waterloo’s Innovation Arena – a tech incubator and accelerator, which helps tech companies get started.
When CTV News stopped by on Wednesday, a robotic dog was seen roaming the halls. It may sound out of the ordinary – but it’s quite ordinary there.
Real Life Robotics is a company that’s bridging the gap between the tech world and non-technical users by having autonomous robots do tasks for humans.
“As a business owner, being in this town, the access to talent that we have through Velocity, it’s been a game changer for us,” said Cameron Waite, founder and CEO of Real Life Robotics.
It seems many others feel the same given that spike in talent during the recent five-year window highlighted in the report.
The proximity to Toronto, where companies are headquartered is certainly at play, as are the number of Waterloo tech accelerators.
“Then you’ve got the industry side all sort of joining forces all in the same spot, all being able to riff off each other and grow with each other,” said Waite.
Plus, it’s helpful being able to pull from the talent pool right from school.
“If you’re going to the University of Waterloo, you’ve got to be at the top of your game to get into that school,” Waite said.
Although, the threat of tariffs gave the tech sector a feeling of unease earlier this week.
There is now a renewed focus on ensuring talent doesn’t flee to the U.S.
“I think we need to be discerning about any companies that want to locate in our region, be a little bit more protective of talent,” said Tony LaMantia, CEO of Waterloo Economic Development Corporation. “We need provincial and federal programs to support that. We need to be on the same page. Nothing like a crisis to get us mobilized.”
In the wake of the federal government’s move to cut international student permits, it’s another potential recruitment hurdle. Although, with some of the greatest minds at work, they’re used to solving complex problems.
