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Toronto is a place to scale.

$4.4 billion in venture capital investments in 2020

6.4 million people fastest-growing region in North America

800,000 businesses a diverse mix of companies and ventures

180 languages spoken one of the world’s most multicultural cities

8 world-renowned universities a hotbed of academic institutions, organizations, incubators and research facilities and more

$11.3 billion in arts and culture contributions to the city’s GDP

Whether you’re just getting started or looking to grow your existing business, Toronto provides the ultimate environment for entrepreneurs and tech leaders: enviable quality of life, a deep talent pool and competitive business climate. Plus, there’s a wide range of resources available to put you on the path to success.

Setting up business here means being in the heart of arobust economy that is increasingly attractive to global brandssuch as Netflix, Uber and Microsoft as well as successful homegrown ventures like Wealthsimple, Swyft and Wattpad.

Small business owners can access a diverse cluster of business incubators and accelerators that offer a range of services and strategic partnerships to support sectors from technology and biotechnology to food manufacturing, fashion design and music. These organizations have helped some of North America’s leading startups grow by connecting them with capital, talent and professional development.

The city of Toronto boasts an impressive network of innovation

In just the last decade, the number of accelerators and incubators has exploded, with 17 arriving since 2015 alone. The 2021 report A City of Entrepreneurs: Building a City of Innovation, which surveyed 36 of these hubs, reveals a thriving community. Collectively, the surveyed hubs support more than 5,000 ventures in software and creative industries as well as in burgeoning fields like cleantech, green construction and advanced manufacturing. Here’s a snapshot of entrepreneurship support in the city, broken out by sector. Read the full report here.

Startups supported by Toronto hubs
LEGEND

  •  
    201+
  •  
    101-200
  •  
    76-100
  •  
    51-75
  •  
    26-50
  •  
    11-25
  •  
    6-10
  •  
    2-5
  •  
    1
  •  
    0

The darker the colour, the more entrepreneurs supported in that area.

Toronto is a city that values the entrepreneurial ethos. It’s the ideal place for startups to develop, prosper and grow.

“In Toronto, Bombardier manufactures business and commercial aircraft and relies on the diversified, local regional supply chain. We work with more than 70 suppliers located in the Greater Toronto Area and we benefit from a variety of expertise going from complex machining to systems integration.”
Graham Kelly, Vice-President, Global Operations & Toronto Site, Bombardier Aerospace
“The scale and quality of meet-ups and conferences and speaking events have gone up dramatically. You don’t need to leave Toronto to build a successful company.”
Evgeny Tchebotarev, Co-Founder, 500px
“I think it’s an attractive place to come for talented people, it's a huge market for creative people and I think there are some companies emerging that give people hope that it can be done here.”
Mike McDerment, CEO/Co-Founder, Freshbooks
"Startups in Toronto benefit from support at every stage. From the very early stage we have incubators, accelerators and seed stage investors. In the growth stage, we have funders willing to invest a lot of money to really help a company take-off. This gives tech companies in Toronto a huge advantage.”
Allen Lau, CEO & Co-Founder, Wattpad
"If you come to our studio and take a look at the people sitting around the table discussing ideas, they’re from almost every part of the world. I think it has really helped Umbra create an international style.”
Paul Rowan, Co-Founder, Umbra
“Something that makes Toronto truly unique is that willingness to share and communicate with people very openly inside the industry looking at the global pie as something we can all co-create and achieve together.”
Satish Kanwar, VP of Product, Acceleration, Shopify
"A culture of collaboration is really at the heart of what’s next in innovation. What’s exciting in Toronto is that we have local and international businesses partnering with the startup ecosystem and increasingly with the academic community to position themselves for success in the future. And it’s happening across the spectrum from digital media and information technology, to life sciences and healthcare, energy solutions and social innovation.”
Dr. Ilse Treurnicht, Former CEO, MaRS Discovery District
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