Canada performs well in the 2021 edition of the international organization Startup Genome, which lists the cities in the world where start-ups are doing the best. Toronto, Vancouver and Montreal continue to establish themselves among the areas where the economic ecosystem is favorable to the creation of new technologies.
Montreal thus arrives at 31e rank of “ecosystems start-up »Most attractive in the world, not far behind Vancouver, at 29e row, and still lagging behind the Toronto-Waterloo axis, which is at 14e rank of this annual ranking of Startup Genome. Overall, Canadian cities are doing quite well.
Half of the top 30 cities in the organization’s ranking are located in North America. Naturally, San Francisco and Silicon Valley, New York and Boston are at the top of this list, which they dominate from year to year.
Montreal on the rise, but …
Montreal has improved its ranking since last year and has been on an upward slope for the past few years. The Startup Genome organization, which is headed by the Montrealer of origin Jean-François Gauthier, recognizes above all in the Quebec metropolis the quality and affordability of its workforce, and the ease of finding funding for go into business for the first time.
The relatively modest value of Montreal’s tech ecosystem and the lack of connections with other economic sectors (and other regions of the world where there is a high concentration of young companies) are its main shortcomings, however.
Above all, Montreal has more competition than ever: an effect of the pandemic, which has shattered business models and which is even shaking Silicon Valley, indicates Jean-François Gauthier. “The pandemic has certainly loosened the hold of Silicon Valley on the world of start-up. Without the physical constraints, talent was more dispersed around the world, which reduced the costs of creating a start-up », Summarizes the founder of Startup Genome as a preamble to his prize list.
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