Canadian startup and tech innovation newsite Betakit reports that job losses in the tech sector could dramatically damage productivity across Canada, according to a new report commissioned by the Innovation Economy Council (IEC), an independent organization representing the interests of the innovation ecosystem.
The IEC report also highlighted that startups play an important role in traditional industries, and can pivot quickly to support their clients and help the economy bounce back, which is “critical” as global supply chains get through the disruption.
The report specifically mentioned startups like Daisy Intelligence that are either helping traditional businesses or are pivoting to help fight the pandemic.
“The tech companies that provide these tools are already deeply entwined in every facet of the Canadian economy,” the report said.
Results from this white paper were based on IEC modelling and were used to create recommendations for the federal and provincial governments to take further action to implement “stimulus measures for the tech sector.
The IEC said these measures would build the “physical and digital infrastructure that serve as the foundation for Canada’s economy over the coming decades and incentivize technology adoption in our strongest industries.”
“In addition to ensuring that we have the necessary channels to get our products to market, our companies must be leaders in the global digital marketplace,” the organization added.