Canada Ranked Fourth Best Country in World to Launch a Startup

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