While many tech startups are created in basements, the success of the company definitely depends on where this basement happens to be located.
And in case you’ve been thinking about launching a tech startup of your own, Canada happens to be among the top countries for technological advancement and is home to some of the most high-tech cities in the world.
Some cities, however, happen to be more suitable for tech startups than others.
Expert Market, a leading B2B comparison site, has released a new report that reveals Canada’s top tech haven cities.
Ontarian tri-cities Kitchener, Cambridge and Waterloo beat out the competition for first place, while Canada’s largest city Toronto came in second, followed by Montreal, Ottawa and Vancouver respectively.
To come to these rankings, Expert Market investigated the ease of starting a tech startup in 25 of Canada’s biggest cities by cross-referencing data.
This included the availability of tech talent, how entrepreneurial the city is, the amount of venture capital available, how fast the internet download speed is and the cost of living for potential employees to determine the best place to launch a tech business in Canada.
Key findings from the report include:
Ontarian tri-cities, Kitchener, Cambridge and Waterloo lead the way as the number one location to start a tech business. Ranking in the top 10 for every factor, with a particularly strong $15.5 million CAD investment funding available per 100k people.
Surprisingly, Canada’s capital city, Ottawa, does not rank in the top three. Due to the city’s cost of living being the eighth highest in the study, these high living costs can deter young tech graduates.
Tech talent mecca Toronto just missed out as the tech capital but is another top choice for budding tech entrepreneurs wanting to start a business, boosting 44 higher education tech courses.
Montreal rounds out the top three and is the best place for venture capital funding, offering $21.27 million CAD per 100k people, the biggest money pot of any Canadian city.
Finally, Saint John came in last in the tech hub ranking, scoring the lowest for venture capital investment, just $1.7 million CAD per 100k people.
Top 25 cities in Canada to launch a tech startup:
- Quebec City
- Saint John