Talks of economic headwinds haven’t slowed down the local tech community. On paper, Victoria closed out last year ranking in the top 10 Canadian cities for venture capital, according to the Canadian Venture Capital and Private Equity Association. That’s 11 deals worth $109 million dollars — so what could be behind Victoria’s success?

Perhaps it’s the enthusiasm, networking, and relationships found at recent in-person events. This year, we’ve already seen local entrepreneurs pitch in the historic Craigdarroch castle, founders gather to talk about getting traction for their startups, or medical practitioners learn about innovation in healthtech. There’s an energy in the city thanks to leaders who are excited to build locally. And no matter the industry, there’s something for everyone on the ground in Victoria.

When you think of the occupations of people who build tech companies, software engineers, computer scientists, or folks with a background in business and finance may come to mind. Tech is often synonymous with the image of San Francisco and the Bay Area — the headquarters of companies such as Google and Meta, alongside many software startups born out of homes and basements.

But Victoria has a special quality that Silicon Valley doesn’t, said Junaid Ahmad, CEO and co-founder of JackRabbit Ops, an AI documentation software venture. “A big component of what Victoria has to offer is that we're not like [that],” he told Victoria Tech Journal. “[Victoria is] not just made up of fancy software companies — we have very socially driven or environmentally driven companies that use technology to amplify their ability.”