According to a PwC report released last week, fewer Canadian tech startups are looking for buyers in order to exit the market, choosing instead to find ways to reach their next growth stage and generate revenue in Canada.
In the report titled 2013 Report on Emerging Canadian Technology Companies, PwC reports that 44% of startups polled are looking for a merger or acquisition to exit the market, a steep drop from 76% in the prior year. The survey polled 200 chief executives in February and April, and those findings reflect their strategies for 2012 and 2011.
The survey shows 21% of respondents anticipate a partial sale of the company, while 30% have no plans to exit at all.
Expanding on that trend, CEOs say they are staying put because more than one-third reported their companies had reached profitability, while another 28% expect to do so within one year.
According to the report startups noted revenue generation (41%) and funding (19%) as the biggest concerns over the next 12 months.