Kevin Lynch is the vice-chair of BMO Financial Group and an officer of the Order of Canada. He’s also the co-founder of 4Front Atlantic, a three-part annual that brought Atlantic Canadian business professionals together to brainstorm ways to kick-start the economy. According to Lynch, it’s critical that a way be found to keep young people in the region, and also attract young immigrants. And he believes that supporting technology start-ups is the key. “The more we’re able create an eco-system that supports start-up firms, the more we’ll increase the incentive to stay in Atlantic Canada,” Lynch explains. “It could really change the dynamic, maybe even pull people back from other parts of the country. It will also attract immigrants, which we desperately need in Atlantic Canada.”

He says that the region is already experiencing the beginnings of a technology boom. Notable examples include New Brunswick’s social media monitoring service, Radian6 Technologies, which was purchased by San Francisco’s Salesforce Marketing Cloud in 2011, as well as a number of successful ventures in Halifax, inspiring the launch of the HPX Digital conference. “We’re creating the critical mass where science and business are coming together to create new firms,” explains Lynch. “And they’re not just trying to sell into traditional markets, they’re marketing globally.”

Lynch thinks Atlantic Canada has just about everything it needs to build a vibrant industry from this new base. With the region’s abundance of respected schools, its well-educated population, and the growing excitement about this new technology potential, it appears to be well positioned for future growth. Mentors, asserts Lynch, are the only missing element.

“We have successful business people, but we really need them to take on young folks and give them the wisdom of their mistakes as much as their successes,” says Lynch.

By Sarah Sawler