October 30, 2018 - Vancouver, British Columbia

Date: October 30, 2018
Location: Vancouver, British Columbia

Total participants

Q1) What does a stronger western Canadian economy look like 10 years from now?

• Recognized why there’s a pull-out for Indigenous, but reconciliation cuts across all areas
  • We keep talking about technologies as vertical, but it’s horizontal
  • Barriers (policy): tax system is embedded in 1940’s, but we’re in a digital economy
  • Innovation policy tax model
  • Nexus: approaching regulations like Nexus.
  • Opportunity: Ability to get gov’ts out of the risk-mgmt business and get into the data mgmt. business:
    • LAN data available at NRCan – if we could merge that, and allow Indig cmmties to own it, you could manage risk
    • Would allow him to  buy the database to build a project. Indigenous cmmties could benefit from this revenue stream
    • Merchandise exports come from natural resources, and that won’t be changing soon. Need to capitalize on that. Need a shorter cycle on product dev’t.
  • Going to spend $563B in BC on health care next year. We could be a global diagnostics centre.
• Barrier: small business tax rate
  • His experience with data has focused on protection of data and hoarding it
• Next 10 years: huge systems changes are needed. For example, we’re leading in a feast or famine env’t b/c we’re on a fixed election cycle.
• Inability to bid on complex projects. Gov’t can make changes re: procurement. There are many examples of businesses succeeding.
• Film industry is hugely successful here, but majority of work I service work. IP isn’t owned here. Lack of diversity for Indigenous and visible minorities. Netflix is creating content but they’re always looking globally. We have the skills and talent to produce world class content, but IP isn’t owned here. We need to think of that as the global market increases. Investment into IP dev’t could go away in the next 10 years. We have an aging workforce as well. We need young people to lead.
  • You’re successful if it’s global. It’s an export but it’s digital.
• Sony Imageworks’ decision to move here was based on tax incentives. Employs 500-800 people. Sony outsources to smaller co’s. Companies here are working on new movies.
• Motion Pictures Ind’y Association held a career fair. Buses from Maple Ridge. Some of that stuff happens to get to grade 10-11 students to understand where jobs are, and bring them in from across the province.
• Too many jobs leave the province. $35B spend over and above on education. AT&T Medallion program: you want a job with AT&T for life. It’s an accreditation program. Have to find ways to integrate education with industry better.
• Don Wright presented to BCFC a couple of weeks ago. He takes the view that our education system is outdated. We need to take a modular approach. Need and education system that allows people to come and leave more often.
• Housing stock. We’re nibbling at the edges on the supply side of the equation. Need to use federal levers (eg transit, housing), and think about it as 1 big region instead of 21 sub-groups. Won’t be possible to attract talent otherwise. Companies aren’t placing capital here b/c they can’t provide housing. Everyone is pointing fingers but we’re not working in a way that makes sense.
• The link to transit is key. People are living outside of Vancouver proper.
• CRA almost does harassment on taxes to businesses that come here. It’s a problem b/c productivity is dependent on people coming to Canada.
• Global competitiveness and productivity will depend on high-level talent coming here. Our education system doesn’t create ppl who can hit the ground running. Pwd’s and women are always lumped into an “equity-seeking” category. There’s a hope that as this builds up, equity-seeking groups will benefit. But we need to be more intentional. Not sure that inclusiveness policies will address that.
• Entrepreneurship training can help these equity-seeking groups.
• National Consortium of Ec Dev at UVic (Commerce and Law programs) assists Indig cmmties. Miles Richardson (Director) and John Burroughs. Infrastructure seems to be developing faster than capacity. This lowers the gap on infrastructure, but the capacity gap is widening. Working in 70 cmmties, have done 23 cohorts over past 11 years. One project was in Prince Rupert. Haida Nation has a successful corporation in which profits go back to the nation, but they want to add Indig ppl to their own supply chain. Want to tap into areas where unemployment rates are high. Need to do this on a timely basis in order to ensure good outcomes down the road. Other opportunities: creative economy. WD has funded the Indig Entrepreneurship program to teach artists how to adopt effective business practices. So much untapped potential for Indig art.
• Joint Creative BC/Emily Carr project was funded by WD. Would like to see strengthening of storytelling element for the creative sector. How can we work with different nations. There is some investment but not on the creative side. Seems like a “nice to have”.
• Rural and remote communities can benefit from entrepreneurship training. Average age of graduates is late 30’s/early 40’s, and 75% are Indig (when prog’s are offered in cmmties). K-12 education in general, we’re not doing a good job on ideation. Definition of entrepreneurship in Indig cmmties – interest isn’t the same as in the Western context.
• Focus on entrepreneurship can get politicized. In some ways, it’s a success that there’s competition. But it doesn’t foster growth for everyone.
• Through their Champions Table, they’ve launched their Indig Intern Leaders program. Is for ppl aged 35-ish and under. Co’s will hire an Indig graduate from post-secondary or college or trades into a role in the cmmty. VIU is a clearinghouse with academic institutions on this.
• High school graduation rate was 52% in the 1980s, which has now moved up to 63%. Junior Achievement has good programs, but they need scale. Not a top-down model, involves ppl in the cmmty. Is inexpensive to deliver.
• Opportunity: spending time to do due diligence on education, whether it’s entrepreneurship or in other areas. That way it’s localized and turns out better results. Important to think about things this way.
• We are uniquely poor at productivity. Until 2007 it took one generation to double your income. Now it’s 4-5 generations, just 10 years later. This is b/c of a lack of productivity. How do we incentivize productivity moving forward? The French work 23% less than we do but have more productivity. Gov’t needs to focus on incentives and conditions necessary to improve productivity.  Let people go into a regulatory sandbox and see what works. Wages in BC have been stagnant since 1991. Applies to Indig and non-Indig cmmties.
• Much work has been done on this in Europe (eg. Sweden), is based partly on a social safety net.
• When she was involved in Digital Supercluster, it didn’t include health. In order to move fwd, we have to stop seeing health as a cost centre and instead as an economic driver (eg. Precision health).
• We do phenomenal work on R&D in universities. But we’re slow to commercialize. Vancouver and BC has one of the biggest centres of heart, lung and tissue data (e.g. via MRI’s). Developed method to advance (?), but it takes too long to do stakeholder consultations here. Trial was moved to US instead. Will likely be purchased back here in Canada for a much higher rate.

Theme #1: Opportunities re: IP and precision health

• The film industry is hugely successful in BC, but the majority of the work is service work. The intellectual property (IP) isn’t owned here.
• We have the skills and talent to produce world class content, but IP isn’t owned here. We need to think of that as the global market increases. IP investment opportunities could disappear in the next 10 years.
• There are significant opportunities in developing the precision health sector in BC, but in order to move forward, we have to stop seeing health as a cost centre and instead as an economic driver.

 Theme #2: Skills, training and talent attraction

• The Deputy Minister to the Premier has recently noted that our education system is outdated. We need to take a modular approach which allows people to come and leave the education system more often.
• Vancouver Island University has launched an Indigenous intern leadership program, under which companies hire Indigenous graduates into roles in the community. This is a good example of how Vancouver Island University acts as a clearinghouse with multiple academic institutions.
• We need to use federal levers (e.g. transit, housing), and think about BC as one big region instead of 21 sub-groups. If we don’t, it won’t be possible to attract talent. Companies aren’t currently placing capital here because they can’t afford to provide housing.

Theme #3: Productivity challenges

• We are uniquely poor at productivity. Until 2007, it took one generation to double your income. Just 10 years later it now takes 4-5 generations instead. This is due to a lack of productivity.
• How do we incentivize productivity moving forward? The French work 23% less than we do but have more productivity. Government needs to focus on the incentives and conditions necessary to improve productivity.

Q2) What are the best ways to spur new growth in western Canada

• Looking at how to build a corporate plan for Vancouver. It’s still difficult for BC entrepreneurs to raise capital. Particularly difficult for women. Hoping to see different access to capital in 10 years. Vancouver Economic Commission has a capital mentorship program, which gives access to big clients (then can use this on their CV). Want to include training and mentoring. We’re getting good on the angel side, but we’re not a “venture” culture.
• Now access to talent seems to be top of mind for everyone.
• We have connectivity in smaller regions, but we need to help people to use it. Can regions act as remote hubs for Greater Vancouver, to allow ppl to work in the smaller regions? This would allow firms to hire from the outside.
• Rossland is a good example of this. Large number of coders and developers there, who just come into Vancouver when needed. If we have connectivity and a huge talent pool, this becomes a compelling case for the tech sector to open offices in other places in BC.
• When you’re trying to get co’s to scale up, you need to find a way that ppl can work with other groups. Need to look at talent attraction in a different way (eg. It might be located somewhere else)
• There’s a lack of investment in talent in BC. There isn’t a lack of talent.
• We don’t have global expertise here to take co’s to scale. Is an endemic issue in most tech sectors. Other major cities have sizeable clusters to draw upon (e.g New York, Carnegie Mellon).
• Own the Podium initiative (scale-up initiative) will be a big focus in the next budget.

Theme #1: Capitalizing on connectivity

• Can regions act as remote hubs for Greater Vancouver, to allow people to work in the smaller regions? This would allow firms to hire from the outside.
• Rossland is a good example of this. There is a large number of coders and developers there, who just come into Vancouver when needed. If we have connectivity and a huge talent pool, this becomes a compelling case for the tech sector to open offices in other places in BC.

Theme #2: Challenges re: scaling up

• We need to look at talent attraction differently. When you’re trying to get companies to scale up, you need to find a way for people to work differently (e.g. people might be located elsewhere).
• There isn’t a lack of talent in BC. There’s a lack of investment in talent in BC.
• We don’t have the global expertise here to take companies to scale. This is an endemic issue in most tech sectors.

Q3) What will help the Indigenous economy continue to grow?

• FN’s may be affected by connectivity but they haven’t been included in the conversation
• Need conversation on affordability. Telus requires $9M or more per year on connectivity. INAC doesn’t pay for this. Has impacts on affordability and economic growth.
• How to solve these challenges – need to build the talent and demand. Need more FN’s to stand up for this. Our people need to learn how to be competitive in this sector.
• Data question is difficult. Where to invest, and how to identify a vision going forward?
• Feels that FN’s are finally in a place that they can participate in traditional resource extraction. There’s a skills gaps for FN’s b/c it’s not in anyone’s vision how disruptive innovation will be. Important foundational piece: how FN’s can organize themselves. Gap is getting bigger for FN’s to participate, especially for rural BC. How to nimble in a changing landscape? WD is nimble.
• It’s a pretty closed environment. Found that bringing Indig ppl into the events was useful. How do you learn the system and who the influencers are? It’s a huge power map, and unless you know what you’re doing, you’re fumbling around the edges. You have to figure out how to take advantage of opportunities, and figure out how to be compelling.
• We are losing young Indig women b/c they don’t want to have to educate people on Indig issues. Inclusion into what? Not sure we want to be included. Vancouver Foundation Level Program – how do we get newcomers to Canada, Indig, and youth interested in how to move forward? If we’re looking for movement on Indig issues, we need more representation on boards (1 isn’t enough, that’s token).
• Challenge: Boards themselves need training on governance, so they understand that they’re moving towards a common vision on Indig issues. Doesn’t just rest with the Indig rep.
• People need to be sensitive in terms of how ppl communicate (men talking over women).

Theme #1: Connectivity

• We need to have a conversation about the affordability of connectivity in Indigenous communities. Connectivity costs about $9M or more per year in Indigenous communities, but INAC doesn’t cover this cost. This is unfortunate because connectivity has impacts on economic growth in these communities.
• The way to solve this challenge is to build talent and demand. The Indigenous community needs to learn how to be competitive in this area.

Theme #2: Representation on corporate boards

• If we’re looking for movement on Indigenous issues, we need more representation on boards. One Indigenous member is not enough, and is “token”.
• We are losing young Indigenous women because they don’t want to have to educate people on Indigenous issues (large responsibility that typically falls on 1 woman).
• The corporate world is a pretty closed environment, and learning about the system and influencers is a long process. You have to figure out how to take advantage of opportunities, and figure out how to be compelling.

Q4) How can we improve economic participation in the west of underrepresented groups, including women, youth, and new immigrants

• A lot of the work that we’re doing today is affording opportunities for young people. Not sure we’re including young people as much as we should. We should be investing in young peoples’ education and attachment as early as possible.
  • Educators say that you have to get young people by the time they’re in grade 10. Grade 12 is too late.
• Until we see more women on corporate boards…we need to see other models like quotas for women on boards. It’s integral to creating the economy. Need to understand that this is something to aspire to. Need to bring more women into the ranks.
• Vancouver Sun posted article on Life Sciences. Pretty good gender balance in Vancouver. Unlike other LS jurisdictions. But lack of gender balance on Board of Directors.
• When women achieve highest C-suite positions, they don’t enjoy the shareholder support that men have. So you need a lot of strength to stay in the position. Women are constantly fighting to stay in their roles and positions of power. It’s easy for groups to undermine them (focus on retention and not just placement).

Theme #1: Investing in young people

• Not sure we’re including young people as much as we should. We should be investing in young peoples’ education and attachment as early as possible.
• Educators say that you have to get young people by the time they’re in grade 10. Grade 12 is too late.

Theme #2: Women on corporate boards

• Until we see more women on corporate boards, we need to use models such as quotas. This is integral to creating the economy, and we need to understand that this is something to aspire to.
• When women achieve the highest C-suite positions, they don’t enjoy the shareholder support that men have. This means that women need a lot of strength to stay in their position, and they are constantly fighting to stay in their roles and positions of power. Therefore there is a need to focus on retention and not just placement.

Q5) How can governments, industry, and western Canadians work together to grow the regional economy?

• Canada is good at bringing groups together and developing solutions. WCGS will have brought ppl together, but will go away and develop a strategy. BC Gov’t will also develop its own strategy. We should find fora to develop things together, bring fed/prov and municipal gov’ts together with industry leaders on a regular basis, for an ongoing dialogue.
• (similar to yesterday’s closing comment from Jonathan re: federal gov’t as convenor).
• There may be some nuances around it, but it’s a holistic approach.
• What are the first steps you take when you want diversity? How do we bring strategic frameworks together? There isn’t much fair play between federal/prov/municipal gov’ts. Need to point to mandate letters and political objectives to make a case to get funding. There’s a tension between inclusion, diversity, and productivity but nobody likes to talk about it.
• Challenge: the province still does well economically. GDP growth is starting to show decline. It’s incumbent on public servants and businesses to tell a story that resonates. The productivity story needs to be more real for politicians. Talk to politicians in terms of “standard of living growth”.
• Federal gov’t has announced sweeping regulatory reviews. In 10 years, Indig ppl and private sector will come together in moving fwd.

Theme #1: Federal government as convenor

• Canada is good at bringing groups together and developing solutions.
• We should find fora to develop initiatives together (federal/provincial/municipal governments, together with industry leaders) on a regular basis, for an ongoing dialogue.

Theme #2: The productivity storyline

• Although the province is doing well economically, GDP growth is starting to show decline. It’s incumbent upon public servants and businesses to tell a story that resonates with the public.
• This productivity storyline needs to be more real for politicians. We need to talk to politicians in terms of “standard of living growth” instead.