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How Toronto’s Startup Scene is Flourishing

Over the last few years, the Greater Toronto Area (GTA) has become a centre for startups, entrepreneurs, and developing technologies like sophisticated AI research. There are several factors behind the advance of the Toronto startup scene, and all of those have contributed to making the GTA a welcoming home to innovation, new companies, and groundbreaking technology.

In a fascinating article in Toronto Life that compiled answers from entrepreneurs in the GTA, it was revealed that the majority of startup founders felt confident that Toronto would one day surpass Silicon Valley as a primary global hub for innovation. In that same article, a handful of startup representatives said that they valued the diversity of Toronto, the available talent in the area, the collaboration and bonhomie among founders and startups, and the region’s strong community feeling.

Peter Tassiopoulos, president of Sphere 3D, which delivers containerization, virtualization, and data management solutions and has a headquarters office in Mississauga, echoed the sentiments expressed by many other Toronto-based founders. Peter Tassiopoulos mentioned that there was a marked willingness among entrepreneurs to help each other, and that differentiated the startup scene within the GTA from Silicon Valley and elsewhere.

That sense of working together is cultivated and maintained not only by the founders and startups themselves, but also by a number of high-profile incubators, accelerators, and other, similar organizations. As Bijan Khosravi noted in his recent Forbes article about the Toronto startup scene, the Ontario Network of Entrepreneurs (ONE), which was created by the government, helps support businesses at every stage of growth and connects incubators and accelerators with burgeoning startups. As Khosravi says in his article, “[Toronto and Canada] have laid the groundwork for their 20-year plan to drive innovation. They are strategically implementing this plan through strong support for entrepreneurs and the startup community.”

Tassiopoulos explained that the City of Toronto, and Ontario, overall have made efforts to nurture tech talent and entrepreneurs. Part of that comes through developments like the ONE and part of that comes from the lower cost of research and development—thanks to refunds provided by the Canadian government on those costs—compared to places like Silicon Valley, New York, Boston, or Austin.

Additionally, as noted in this recent New York Times interview with Ian Austen, an Ottawa-based correspondent for the New York Times, Canada has immigration rules that make it much more simple for companies to bring in talented workers and executives from elsewhere, which has spurred growth in many tech sectors throughout the country.

The post How Toronto’s Startup Scene is Flourishing appeared first on Wipsen.org.



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How Toronto’s Startup Scene is Flourishing

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