Victoria located on the southern tip of vancouver island in british columbia has a rich history of entrepreneurship dating back to the days of the hudson bay company the citys unique geography surrounded by the pacific ocean and the rugged terrain of the olympic mountains has helped shape its identity as a hub of innovation and creativity with a population of just over 85000 people victoria is home to a diverse and highly educated population with over half of its residents holding a university degree this combined with its high quality of life has helped attract a thriving startup scene to the city victorias tech scene is constantly evolving with companies specializing in everything from virtual and augmented reality to renewable energy to biotechnology some of the citys most successful startups include hootsuite openroad communications and elastic path software the city is also home to two major universities the university of victoria and camosun college which are known for producing highly skilled graduates and providing a wealth of research and development opportunities the cost of living in victoria is relatively high with a living wage estimated at 2091 per hour however the unemployment rate remains low sitting at just 44 in 2020 the citys gdp has grown steadily in recent years reaching 198 billion in 2018 despite its small size the victoria startup scene is constantly growing with new companies starting and existing businesses expanding on a regular basis this has helped to keep the economy thriving and to provide exciting opportunities for entrepreneurs and tech enthusiasts alike overall the victoria startup scene is thriving due to its unique combination of a highly educated and talented workforce a supportive business community and a thriving technology sector whether youre looking to start your own business or to work for a cuttingedge tech company victoria is the place to be