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Canada Ranked Fourth Best Country in World to Launch a Startup

October 20, 2022 by Knowlton Thomas

A Canadian financial technology firm delved deep into data to discover where Canada and its startup hubs rank on national and global scales and they confirmed the country’s current tech boom. 

Montreal-based fintech HelloSafe, a comparison platform for the best Canadian insurance deals in 30 seconds, parsed numbers from StartupBlink, which claims to be the world’s most comprehensive startup ecosystem map and research centre, working to uncover the momentum of startup ecosystems globally.

StartupBlink’s Global Startup Ecosystem Index 2022 found that Canada is the fourth best country in the world to launch a startup, behind the US, UK, and Israel. Ranks are based on criteria: quality and quantity of local startups combined with regional business environment.

“The Canadian startup ecosystem is more lively than ever, with 10 cities ranking into the top 200 cities for startups in the world,” HelloSafe noted. “This means that in 2022, 5% of the cities present in the world top 200 are located in Canada.”

Not bad for a country that represents less than 0.5% of the world population.

Toronto (24th), Vancouver (40th), and Montreal (45th) are the Canadian cities part of the world top 50 cities for startups.

Check out the top 25, their score, and global ranking.

# CITY PROVINCE SCORE GLOBAL #
1 Toronto Ontario 31,266 24
2 Vancouver British-Columbia 18,880 40
3 Montreal Quebec 15,084 45
4 Ottawa Ontario 7,943 89
5 Calgary Alberta 6,997 104
6 Edmonton Alberta 5,306 140
7 Quebec City Quebec 5,239 142
8 Kingston Ontario 4,495 183
9 Victoria British-Columbia 4,490 184
10 Winnipeg Manitoba 4,335 192
11 Halifax Nova Scotia 3,340 233
12 St John’s Newfoundland and Labrador 3,004 247
13 Hamilton Ontario 1,969 309
14 Fredericton New Brunswick 1,570 342
15 Saskatoon Saskatchewan 1,354 377
16 Kelowna British-Columbia 1,130 413
17 London Ontario 947 445
18 Regina Saskatchewan 903 452
19 Charlottetown Prince Edward Island 752 495
20 Sherbrooke Quebec 635 533
21 Guelph Ontario 629 536
22 Moncton New Brunswick 474 624
23 Windsor Ontario 429 659
24 Saint Catharines Ontario 368 706
25 Thunder Bay Ontario 336 731

Opportunities are abound in Canada’s tech hubs. Find opportunities via the TechTalent.ca Job Board and Job Fairs.

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