Global industry observations - catching up with our Investment Attraction team
Tuesday, April 25, 2023
Our Investment Attraction team attends conferences and events in key markets to secure meetings with companies looking to locate or expand their business in a new jurisdiction that could benefit from Nova Scotia's unique advantages.
Depending on the industry, these meetings focus on our province's strengths such as our skilled available workforce, infrastructure and logistics, academia, government and industry collaboration, programs that support business growth, and, of course, our ocean lifestyle and culture.
We chatted with a few of our Investment Attraction colleagues to get their industry observations from the front lines.
Recently attending Oceanology International Americas in California and the Blue Innovation Symposium in Rhode Island, Jonathan explains that at the forefront of every conversation is a focus on the blue economy and how companies are pushing forward from a sustainability perspective.
“These events bring together a wide variety of industries that focus their business on the ocean. There are a lot of conversations happening around climate change and sustainability, so it was nice to attend those meetings and highlight the green commitments that Nova Scotia has made.”
Jonathan also noted the cutting-edge technology coming out of the industry. “Ocean technology has made great strides over the last few years. From robotics and autonomous vehicles to sensors and acoustics, it’s impressive to see these technologies improve maritime activity and ocean data analytics. We had companies from Nova Scotia exhibiting at Oceanology and the technology they showcased in comparison to other offerings demonstrates the world class talent and expertise in Nova Scotia.”
Recently, Stephen was at fintech’s biggest Q1 event, Fintech Meetup in Las Vegas. “Growing at 25% per year, fintech is one of the fastest expanding sub-sectors in the global tech economy. This industry is on the verge of transforming every aspect of the traditional financial services, banking, and insurance industries as we know it today. Fintech Meetup was a terrific opportunity to meet face-to-face with growing fintech companies. With the increase in popularity of remote work and talent hubs, companies are more willing to explore hiring in new places and Nova Scotia is well positioned to become a player in this emerging global industry with its established financial and tech ecosystems.”
Following Fintech Meetup, Stephen switched gears and headed to California for Game Developers Conference (GDC). GDC is an annual event that brings together the game development community to develop partnerships and spark ideas for the future of the industry.
“There is a noticeable increase in awareness abroad of what is happening in Nova Scotia’s interactive media sector. This, combined with the fact that the global industry is experiencing a talent shortage while facing a rapid growth rate, makes Nova Scotia an attractive environment to locate a studio. Companies locate here because of our supportive industry, talented workforce, and competitive digital media tax credit.”
“The global market for entertainment software has now surpassed both music and movie industries combined. In 2021, the global “games market” had a whopping $244 billion in revenue. With the meetings at GDC, combined with our ongoing pipeline of prospective investment opportunities, it is evident there is lots of room at the table for Nova Scotia to attract more companies and increase its importance in the global industry.”
Thanks to leading research in the province, our medtech industry has had major developments within advanced imaging and data analytics. Invest Nova Scotia, working with our government, academia, and industry partners, is focused on growing this sector through attracting key companies that will contribute to and benefit from our innovative ecosystem.
Through conversations and B2B meetings at the recent Emerging MedTech Summit in California, Chandra shared the benefits of operating a medtech business out of Nova Scotia with global businesses.
"This event is unique in that it brings two industries together – technology and the medical community. Nova Scotia has had a banner few years with exciting developments, and it was important to highlight those in market."
Chandra notes it’s not just these advancements that draw international companies to look closer at Nova Scotia.
“We have a tight-knit medical community here. From accessing facilities and a reliable patient base to getting approval for clinical trials, Nova Scotia is positioned to test and accelerate new technologies. Not to mention student intensity in Nova Scotia is among the highest in North America, resulting in a graduating workforce ready to support knowledge-based industries.”
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