We’ve updated the Narwhal List and released a new report for 2019. Canada’s tech community continues to make progress but we haven’t created a new Unicorn since 2015. The Technology sector has doubled the number of companies that are on track to become Unicorns but the healthcare sector continues its slow decline.

1. The Narwhal List 2019
Another year of progress in Canada’s
tech community

2. Highlights
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• 17 new companies
• Double the number from last year with Unicorn potential
• Great progress inTechnology companies (software etc.)
• Healthcare tech companies continue to decline on the list

3. Leading Narwhals
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4. Financial Velocity
• The Narwhal List ranks firms by FinancialVelocity
• FinancialVelocity is the amount of funding a firm has raised divided
by the number of years it has been in existence.
• It is expressed in millions of dollars per year.
• This measure reports the rate at which companies raise and consume
capital to support their growth.
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FinancialVelocity = Capital Raised/Years in Existence

5. Narwhal Profile
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6. 6
Narwhal List over Time

7. No New Unicorns
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• No Unicorns since Kik Interactive became one in 2015
• We should be creating 2 a year
• We should have 10 on the list