Winter 2021 Update

Thought about expanding to Canada?

While Canada is a modest trading partner for Victoria, the ease of doing business, close cultural ties, and similar business practices, make it an attractive destination for Victorian companies looking to expand internationally.

Victorian companies are active in Canada across diverse sectors, such as food and beverage, agriculture, technology, manufacturing, life sciences, resources, and creative industries. Canada presents many opportunities for exporters, in particular for companies offering niche, innovative and clearly differentiated products and services.

In 2020, total two-way trade in merchandise goods between Victoria and Canada was valued at $724 million. Victoria’s top goods exports were meat (excl. beef), coated iron and steel, and beef over this period. In terms of services exports, Canada was Victoria’s 12th largest source of international visitors in the year ending December 2019.

Access to some of the top tech talent in North America

The accelerated pace of digital transformation over the past year has resulted in a resilient and growing technology sector.Did you know that there are four Canadian cities among the top 20 tech talent markets in North America?

In CBRE’s 2021 Scoring Tech Talent report for North America (released July 2021):

  • Canadian cities making the top 20  list (of the top tech talent markets in North America) include:
    • Toronto (ranked number 4)
    • Ottawa (ranked number 10)
    • Vancouver (ranked number 11)
    • Montreal (ranked number 16).
  • The Waterloo Region in Ontario is ranked #21 overall, and is also identified as number 1 for small tech talent market in North America, number 2 for the tech talent growth rate, and the least expensive when looking at total annual labour and real estate cost.
Integration and access through Free Trade Agreements

Canada and Australia are both members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), providing enhanced market access for exporters and investors across both countries.  Another attractive element is the fact that Canada’s economy is highly integrated with the United States. Through the United States-Canada-Mexico Agreement (USCMA), the country offers market access to both the United States and Mexico.

Creating new connections and opportunities for indigenous businesses

Kinaway and the Canadian Council for Aboriginal Business with the support of Global Victoria and the Consulate General of Canada, Sydney, are organising a Canada – Victoria Indigenous Exporters Dialogue towards the end of August.

The event will connect indigenous businesses from both markets to understand exporting opportunities in each market, foster connections and potential partnerships.

North America

Established Victorian exporters targeting North America

North America remains a key market of interest for a broad range of businesses, including established Victorian exporters. This was highlighted recently with over a third of Global Gateway recipients targeting projects in North America.

Looking for business opportunities in the Americas?

If you're a Victorian business looking to export, Global Victoria can help you grow in international markets.

For more information on exporting to the Americas, and to connect with our in-market teams, contact our regional specialist Pamela Wearing by sending her an email.

Summer 2021

The United States (US)  is Victoria’s second largest two-way merchandise trade partner, and a key target market for many Victorian exporters.  In this insight we focus on the depth of connections that exist between the Victorian and US entrepreneur and start up communities.

As highlighted in the new podcast hosted by U.S. Consul General to Melbourne Mike Kleine, 37 Degrees Latitude.  if geography is destiny, there must be something special about 37 degrees latitude.

At 37˚S, you’ll find Melbourne, Australia; at 37˚N, you’ll find Silicon Valley (and Area 51). In this podcast,  you can learn how some of Victoria’s most successful founders scaled their startups to the United States.

Entrepreneurship, innovation and the depths of connections between the  Australian and Silicon Valley/Bay Area relationship is highlighted in The Bay Area-Silicon Valley and Australia An Expanding Trans-Pacific Partnership report released in December 2020 (released  by The Bay Area Economic Council in partnership with AmCham Australia).

Supporting Women Entrepreneurs

The Victorian Government announced in December 2020 funding aimed at boosting the number of women startup founders in Victoria. Funding will be delivered through LaunchVic for two entrepreneurship programs (programs by SBE Australia and Atto Accelerator). (Learn more about Atto’s Founder Kate Kendall in Episode 2 of the 37 Degrees Latitude podcast).

The Global Victoria Women (GVw) Female Business Leader in 2020 virtual seminar in December featured two Australian entrepreneurs originally from the US: Hawaiian born Jeanette Cheah, Founder and CEO, Hacker Exchange and Californian born Julie Hirsch, Co-Founder and COO, Eloments Natural Vitamin Tea.

Latin America: Diversify your Growth

Latin America continues to offer diversification and growth opportunities for Victorian businesses.

Mining and Mining Technology

Latin America is a traditional mining and resources market, and a growing number of Victorian mining engineering, technology and services (METS) companies are securing business opportunities in the region. Mineral output in key Latin American countries has remained strong.  Chile and Peru have deemed their mining industries strategic for economic recovery and with copper prices increasing, it is expected that the sector will reactivate faster than projected.

During the last quarter of 2020, a carefully selected group of Victorian METS companies were invited to join the LATAM METS Virtual Acceleration Business Program, run by the Victorian Government Trade & Investment Office in Santiago. Part of the cohort was invited to pitch their solutions to some of Chile’s major mining companies, including Antofagasta Mineral’s Minera Los Pelambres and Lumina Copper’s Caserones. Significant opportunities were identified for environmental monitoring technologies, level and flow measurement technologies and efficient mineral processing capabilities.

Opportunities in Latin America were highlighted at the International Mining and Resources Conference and Expo Online conference in November, including the following sessions moderated by Natalia Gorrono, Victoria’s Acting Head of Post Latin America and Pablo Schatz Victoria’s Trade & Investment Director, Latin America:

Education and EdTech

After facing extraordinary educational challenges in 2020,  an emerging sector of opportunity in Latin America is education technology (Edtech).

The LATAM Edtech Scoping Program 2020 held in December was organised by the Victorian Government Trade & Investment Office in Santiago in partnership with EdLatam Alliance; Endeavor (the largest network of entrepreneurs in the Americas); and HolonIQ, (which launched the top 100 LATAM Edtech companies earlier in 2020, and, more recently, the top 50 Australian list). Eight Victorian EdTech companies had the opportunity to showcase their technologies in front of key decision makers in the K12, higher education and corporate training sector in Latin America.

Watch the recorded session.

There are significant opportunities for Victorian VET providers to develop partnerships in Latin America to respond to upskilling needs and plans through online programs. Most recently TAFE Chisholm announced a new partnership with ALATA in Ecuador in November 2020 to deploy short courses for students and professionals.

Innovation and the Digital Economy

Broadly, there are opportunities for companies offering innovative technology solutions, with an emphasis on solutions delivering efficiency and productivity benefits. Our team in Santiago is working together with partners to connect Victorian companies that can solve specific industry challenges – whether these are relate to agriculture, energy, water management, mining, financial services, education or other industries.

reach out to Pamela Wearing, Regional Specialist – Americas on upcoming Global Victoria activities and how we can support your business diversify and grow in Latin America.

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