Unicorns are real and growing in Newfoundland and Labrador's tech sector

Advertisement 1 This advertisement has not loaded yet, but your article continues below. Breadcrumb Trail Links HomeAtlantic CanadaBusinessNewfoundland & Labrador Unicorns are real and growing in Newfoundland and Labrador's tech sector On the heels of Verafin in 2020, Newfoundland and Labrador is on the verge of producing more billion-dollar startups Author of the article: By Gary Kean  •  The Telegram Published Aug 28, 2026 10 minute read Avalon Holographics Inc. in St. Johns, NL has big plans to bring the many applications of its holographic display systems to the world. Contributed Article content The tech sector in Newfoundland and Labrador is booming and Wally Haas believes it can get much bigger if the strong support behind it continues.  Article content Haas is the founder and president of Avalon Holographics Inc. in St. John’s. The company develops holographic display systems scalable for use in virtually any field, from entertainment to defence and medicine. It’s just one of the province’s many success stories that have risen from an entrepreneurial vision to a business valued in the millions. Article content Article content Article content Haas had no idea what the level of support for the tech sector was in Newfoundland and Labrador when he moved there from Ottawa to raise his family in the mid-2000s.  Article content He needed a job, so he put his niche expertise in semiconductors to work and started Avalon Microelectronics Inc. In 2010, Haas sold that company to Altera Corporation, which itself was eventually acquired by Intel Corporation, in a deal worth more than $15 million, according to private capital markets researchers pitchbook.com.  Article content Haas credited expertise and funding support from entities such as Memorial University’s Genesis Centre and government agencies like the Atlantic Canada Opportunities Agency (ACOA) as being critical to ensuring successes of companies like his first venture in Newfoundland and Labrador.  Article content “They gave me enough support and I was incredibly motivated to be able to make that difference and make that company run,” Haas told Postmedia.  Article content Wally Haas is founder and president of Avalon Holographics Inc., one of many tech companies on the rise in Newfoundland and Labrador. Contributed Article content While there have been some businesses that have enjoyed success on smaller levels, the province’s tech sector was pushed into the spotlight by the heights…