MaRS Discovery District’s FinTech cluster and the BC Tech Association (BCTIA) are entering a strategic partnership to increase collaboration between Toronto and Vancouver’s FinTech markets.
The announcement comes the same day as MaRS’ first #FinTechCA series event, taking place in Vancouver, then Montreal and Ottawa, in an effort to connect FinTech innovators across the country, according to MaRS FinTech cluster head Adam Nanjee.
The partnership between MaRS and the BC Tech Association will accelerate the process for later stage BC-based FinTech ventures to join the MaRS FinTech cluster, which provides access to advisory services, venture capital opportunities, and a national network of financial institutions and over 200 FinTech ventures.
“With the rapid growth of Canada’s financial technology industry, it’s critical that we create opportunities for FinTech innovators across the country to connect, collaborate, and share ideas,” said Nanjee. “We’re thrilled to partner with BC Tech to deepen ties between Toronto and Vancouver’s thriving financial technology communities.”
A recent report from The Digital Finance Institute and McCarthy Tetrault LLP examined British Columbia’s growing FinTech sector, including the fact that Vancouver is an ideal FinTech hub due to its proximity Silicon Valley and Asian markets, and its small, collaborative ecosystem.
“BC’s FinTech scene has grown exponentially in recent years and creating cross-collaboration opportunities among Canada’s FinTech entrepreneurs will further fuel its growth,” said Bill Tam, President and CEO, BC Tech Association. “This partnership will provide BC-based entrepreneurs with new avenues to tap into Canada’s largest network of FinTech innovators and expand nationally.”