Toronto is one of the top cities in the world for entrepreneurs looking to launch a tech venture.
According to a new report by relocation experts Movinga, Toronto ranks the 8th best city for entrepreneurs moving abroad to start a business.
Movinga launched a series of studies looking into the best locations for opportunity, and in its recent study, it focused on those looking for new business opportunities abroad.
They looked at 75 cities from around the globe, selecting those that “are renowned for their entrepreneurial spirit, business opportunities and economic growth.”
In terms of the list, they looked at the entrepreneur ecosystem in each city, which also included start-up costs, opportunities for female founders and the typical timeframe for setting up a new business.
“The main industries for growth in the tech/digital venture category is one of the most interesting datasets in this study. With Artificial Intelligence taking top spot and Blockchain making a noticeable appearance, digital entrepreneurs are clearly leveraging future-facing technologies more than ever,” said Marta Blanco Amez, Vice President of Marketing at Movinga.
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“What those planning to launch their own business need to decide, is do they go with a city containing an established network of people in the same field, or do they go where there’s less competition? We hope that this index can help technology startups to make these difficult decisions.”
San Francisco came up on top as the best city to launch a tech startup, with a flourishing tech ecosystem, large access to talent and venture capital. London and New York take 2nd and 3rd place, respectively.
Toronto was the only Canadian city on the list, and ranked 8th overall.