The analysts at Expert Report, a US-based company, has ranked Montreal the ninth biggest tech hub in the world.
The research was first reported by Fast Company in its efforts to make the claim that Silicon Valley is no longer the best place to start a company. High cost of living coupled with rent that keeps on climbing has resulted in entrepreneurs starting businesses in other cities across North America.
In conducting the report, Expert Market analyzed North American cities using eight criterion, including startup output, seed funding, the time it takes to start a business, and salary. The list of criteria was then split into “work factors” and “life factors” in coming up with the top 20 biggest tech hubs in the world.
Montreal ranked ninth in the world for its “low rents and vibrant atmosphere.” In terms of the specific categories, Montreal ranked first in having the least amount of time to start a business, third in having the best average rent price and fifth in lowest cost of living.
Toronto also made the top 10, ranking third overall thanks to its fifth place win for seed funding, eighth place win in startup output, and tenth place win in average salary. The only other Canadian city to make the list of 20 largest tech hubs in the world was Vancouver coming in thirteenth.
Clearly, Canada is living up to its reputation as “Silicon Valley North.”