In 2018, annual venture capital (VC) funding in Nova Scotia decreased from its 2017 high of $80.99 per capita to $69.80 per capita. Despite this decrease, 2018 was still a strong year, and the three-year average (2016-2018) has continued to increase to $72.89 from the baseline of $30.22 in 2013-2015. During this same period, Canada’s per capita VC funding continued to increase, which widens the gap between the two three-year averages. The Canadian three-year average increased to $94.94 for 2016-18, which results in a difference of $22.05. Sustained growth at this pace does not put the province on track to meet this goal. It should be noted that VC funding can be volatile from year to year, so it is not clear if this trend will continue, and that the CVCA data contains only publicly announced VC deals.
What This Means
This means that Nova Scotia’s start-up companies continue to attract VC funding to finance growth of their operations, but at a funding level further from the Canadian average.