The Growth of Vancouver as an Innovation Hub: Challenges and Opportunities

UBC Law Review

39 Pages Posted: 9 Apr 2021

See all articles by Camden Hutchison

Camden Hutchison

Peter A. Allard School of Law, University of British Columbia

Li-Wen Lin

Peter A. Allard School of Law, University of British Columbia

Date Written: 2021

Abstract

This article assesses the development of Vancouver as an entrepreneurial region. Using data collected from commercial startup databases, we find that Vancouver produces more startups and receives more venture capital financing per capita than any other major Canadian city. However, we also find that Vancouver lags many U.S. cities on these same metrics. In light of our empirical findings, we explore whether differences in entrepreneurial activity between Canada and the United States are due to differences in the countries’ legal environments. We conclude that legal differences do not explain observed economic disparities, and that differences in entrepreneurial activity are due to broader institutional factors, including underdeveloped business networks, a lack of Canadian venture capital, and "brain drain" to the United States. Although some of these challenges are amenable to policy reform, others are beyond the scope of government intervention.

Keywords: entrepreneurship, taxation, corporate law, securities law, labor law, bankruptcy law, immigration law, trade policy

JEL Classification: O43

Suggested Citation

Hutchison, Camden and Lin, Li-Wen, The Growth of Vancouver as an Innovation Hub: Challenges and Opportunities (2021). UBC Law Review, Available at SSRN: https://ssrn.com/abstract=3816779

Camden Hutchison (Contact Author)

Peter A. Allard School of Law, University of British Columbia ( email )

1822 East Mall
Vancouver, British Columbia V6T 1Z1
Canada

Li-Wen Lin

Peter A. Allard School of Law, University of British Columbia ( email )

1822 East Mall
Vancouver, British Columbia V6T 1Z1
Canada

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