When asked where people think when it comes to tech startups, one of the places that come to mind and named most often is Silicon Valley. A rich hub and leading startup ecosystem, Silicon Valley accounts for one third of venture capital investment in the United States. The United States has been a hub in the growing market for tech talent, however, skilled workers and new graduates are joining Canadian companies and Toronto is now North America’s fastest growing market. With 212,500 tech workers, Toronto is now the fourth largest tech talent market in North America.
In the last few years, Toronto has started to push and create opportunities for startups by offering incubators, accelerators and access to the tech community. As Canada’s strongest startup ecosystem as stated by TechToronto, Toronto has a growing startup ecosystem that contains 2,500 to 4,100 active startups and also has doubled more than national tech growth. Toronto’s technology ecosystem is a breeding ground for the latest startups and innovation. From large existing companies to smaller startups, many companies are flocking to Toronto.
The key appeal to Toronto’s startup scene is the livability of the metropolis. Although rent is seen as high to the locals, in terms of other startup cities around the world, it’s considerably more affordable. Additionally, the cost of running a business in Toronto in terms of wages and real estate, is among the lowest in North America. This makes for a great starting point for tech startups wanting to take advantage of the new talent emerging.
An upcoming event in Toronto features technology startups and Canadian innovation. Elevate Toronto is a three day event featuring Canadian startups as well as talent, founders, investors and corporate innovators interested in the ever growing technology market.
The startup culture in Toronto is growing and the downtown core has really come to the next level in terms of becoming a livable city where people can live, work and ride their bikes or transit to work in the same city.
We’ve gathered up a list of cool new startups here in Toronto for you to check out: