It’s been a while. Looks like I have not written a post since last February. This does not mean that the world has stopped spinning, in fact things are moving as fast as ever in Silicon Vally North.
Companies like Corsa have closed funding rounds and are growing to meet the challenges of building new products. Cienna has started construction on a multi-building campus along Terry Fox Drive and tech jobs are on the rise. I still monitor the job ads because of my volunteer work and the number of people looking for hardware and software designers has doubled over the last year.
Why the growth? That is the billion dollar question. I would suggest to you that the boomer generation is not taking to retirement. I myself never plan to completely retire and I’m on the tail end of the boomer generation. If retirement is not an option, then what are the alternatives? There is always contracting, but that’s not as exciting as being involved with a start-up. Start-ups are more of a work load than many of the boomers are willing to sign up for but sometimes there are other forces at work.
We may see a new type of startup that leverages the knowledge of the boomer in concert with the energy of their children. There are a number of this type of startup already well underway in the area.
The tech industry has made its fair share of millionaires and although their has been some reinvestment, there may be a second wave not that far away. I have recently been approached by the children of tech giants looking to make their mark. The people in question are well educated and have spent their time in the trenches. They are generally looking for an idea and a team to see it through.
I have no shortage of ideas, but building the right team takes time and energy.
There was a time, not too long ago, when I was worried about the future of the tech industry in Ottawa, but that time has passed and I am looking forward to the next wave of successful companies.