He has presided over a thriving technology industry. In the last two years alone, the state has created his $13 billion technology company.
As Prime Minister John Horgan retired from politics, his It's only natural to look back on his five-year tenure. government.
Looking at Hogan's economic management, one thing that can be said about him is that he has presided over a thriving technology industry. In the last two years alone, the state has produced his $13 billion technology. enterprise.
But in practice the same is true of many leaders in many jurisdictions. The world is in the midst of profound change. The 21st century data-driven economy is fundamentally different from the 19th century and his 20th century resource-based economies. Our economy is no longer driven by tangible assets, but by intangible assets such as software, intellectual property and data.
All over the world we see innovative entrepreneurs setting up new companies to take advantage of the potential of this new digital economy, but in certain scenarios, technology companies are becoming government thrive despite the measures. Therefore, it's worth taking a closer look at BC's actual policy record and what the Hogan government has been doing to support the digital economy.
When running for re-election in 2020, Hogan pledged to develop a state intellectual property strategy. Innovators cheered, knowing that such a strategy would be a much-needed ingredient for success in the new economy. Both privately and publicly, Hogan has been a great advocate for this promise moving forward. Still, talks just started in earnest this summer, and we'll wait to see if his strategic ambitions are fully realized.
One more of his key innovations is his initiative. , he was InBC, a $500 million strategic investment fund. InBC does not plan to make any direct investments until spring 2023. A recently published investment strategy sheds light on the proposed approach, but it is still unclear what their investment philosophy will be. Whether it reflects a wise understanding of our new intangible economy.
On the other hand, the government has made progress in private sector privacy policies despite a task force tasked with reviewing the law which concluded last year that a major revision of the law was needed. Lagging behind the modernization of rules and regulations. Earlier in Hogan's term, we also heard rumors of local data strategies, but they seem to have failed. And while the government is at least aware of the technical talent shortage, the solution to the state's economic planning problems this year was to... write another report.
Prime Minister Hogan deserves much credit for setting out to build the policy foundations demanded by the 21st century economy. He and his team have worked diligently with innovators across the state to understand and respond to the reality that new technologies and new ways of doing business require new policy thinking. With the prime minister's leadership, the state is in a much better position to achieve economic success in his 21st century than it was five years ago.
But the work isn't done yet. As in any industry, recent success in our technology sector is no guarantee of future success. As Hogan prepares to take over the reins of leadership, his successor will build market frameworks and government support structures to ensure today's energy translates into long-lasting, lasting prosperity.
This is especially important given that the new prime minister will inherit a technology sector that is very different from six months ago. Uncertain economic conditions, a looming recession, and Silicon Valley giants still eager to poach domestic talent all pose significant headwinds for a domestically-grown innovation ecosystem.
Currently, this fall race for the state's top office is a two-way race between former Attorney General David Eby and climate activist Anjali Appadurai. Over the next few months, both Eby and her Appadurai will have to come up with ideas on how to drive B.C. Build on the economy and the work Hogan started.
Fortunately, you don't have to do it alone. Leaders in the innovation economy are ready to work with governments. Just as he helped the state weather his COVID-19 storm, the BC tech leader is committed to modernizing intellectual property strategy, data rights, and privacy.
If he gets this right, Hogan will be long and fondly remembered for taking the first steps toward implementing 2nd century BC constructs. It must succeed in the 21st century and beyond.
Tessa Seeger is Director of Government Affairs for the Canadian Innovators Council, a national business council representing 150 scale-up technology companies headquartered in BC Canada.
Letters to the Editor are sunletters@vancouversun.com Editorial page editor is Hardip Johal. The contact is hjohal@postmedia.com. Click
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