Toronto, Vancouver and Montreal among the world's top 50 cities for startups

As a Montreal-based startup, in HelloSafe we wanted to know what are the best cities in Canada to develop a startup. With that purpose, we dived deep into the giant Startup Blink database, with which we elaborated rankings between the different Canadian cities and provinces, and see their position on global rankings. This ranking based on 3 main sets of criteria : quality, quantity and business environment.

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[[translations.score]] : city.score

[[translations.rank]] : city.rank (city.rankDifference)

[[translations.europeanRank]] : city.europeanRank (city.europeanRankDifference)

Keep in mind

  • Canada ranks as the 4th best country for startups in the world in 2022
  • Toronto is the best Canadian city for startup in 2022, ahead of Vancouver (2nd), Montreal (3rd), Ottawa (4th) and Kitchener-Waterloo (5th)
  • More than 5% of the cities that are part of the top 200 best cities for startups in the world are Canadian (e.g. 11 in total)
  • In 2022, 41 Canadian cities ranks among the top 1000 best cities for startups in the world
  • Among those 41 cities, 51% are located in Ontario, which remains by far the most dynamic province for startups in 2022.

Canada, the 4th best country in the world for startups in 2022

This dynamism of the Canadian startup ecosystems is again verified through the Startup Blink 2022 best countries for startups ranking, where Canada appears to be 4th, just behind the United States, the United Kingdom and Israel. This means Canada is ahead of countries such as France, Germany or China, as shown in the following chart :

Canada has 11 cities ranking in the world top 200 cities for startups

The Canadian startup ecosystem is more lively than ever, with 10 cities ranking into the top 200 cities for startups in the world. 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! As we observe in the below table, Toronto (24th), Vancouver (40th) and Montreal (45th) are the only Canadian cities making part of the world top 50 cities for startups.

Canada rankCityScoreWorld rank
1Toronto31,26624
2Vancouver18,88040
3Montreal15,08445
4Ottawa7,94389
5Kitchener-Waterloo7,91691
5Calgary6,997104
6Edmonton5,306140
7Quebec City5,239142
8Kingston4,495183
9Victoria4,490184
10Winnipeg4,335192
2022 top 11 cities for startups in Canada (source : Startup Blink)

In this top 10, the 8 main cities of Canada appears to be present. But more surprisingly, Kingston (8th) and Victoria (9th) find themselves very high in this ranking, despite their smaller size, which is very remarkable.

51% of Canadian locations ranked in the world top 1000 of best cities for startups are in Ontario

When looking at the world top 1000 best cities for startups in 2022, we observe that 41 Canadian cities rank this year, which represents 4% of the total. Here is the complete ranking of the top Canadian cities for startups in 2022 :

RankCityProvinceScoreWorld rank
1TorontoOntario31,26624
2VancouverBritish-Columbia18,88040
3MontrealQuebec15,08445
4OttawaOntario7,94389
5Kitchener-WaterlooOntario7,91691
6CalgaryAlberta6,997104
7EdmontonAlberta5,306140
8Quebec CityQuebec5,239142
9KingstonOntario4,495183
10VictoriaBritish-Columbia4,490184
11WinnipegManitoba4,335192
12HalifaxNova Scotia3,340233
13St John'sNewfoundland and Labrador3,004247
14HamiltonOntario1,969309
15FrederictonNew Brunswick1,570342
16SaskatoonSaskatchewan1,354377
17KelownaBritish-Columbia1,130413
18LondonOntario947445
19ReginaSaskatchewan903452
20CharlottetownPrince Edward Island752495
21SherbrookeQuebec635533
22GuelphOntario629536
23MonctonNew Brunswick474624
24WindsorOntario429659
25Saint CatharinesOntario368706
26Thunder BayOntario336731
27PeterboroughOntario296775
28CornwallOntario265807
29BarrieOntario254820
30SudburyOntario253821
31CollingwoodOntario230852
32Saint JohnNew Brunswick227857
33BrantfordOntario223865
34NanaimoBritish-Columbia199897
35LethbridgeAlberta198900
36Sault Ste. MarieOntario192919
37StratfordOntario185937
38HawkesburyOntario184938
39Owen SoundOntario171971
40Port HopeOntario168976
41Red DeerAlberta165987
Ranking of the top Canadian cities for startups in 2022 (source : Startup Blink)

Among those 41 Canadian cities ranked in the world top cities for startups in 2022, 51% are located in Ontario, which shows the overwhelming position of this province in the Canadian startup ecosystem, as we can observe in the below graph :

Methodology

Startup Blink's annual ranking of the best countries and cities for startups is based on 3 sets of criteria, updated each year, which allows this organization to establish a top 100 of the best countries and a top 1000 of the best cities for startups in the world.

Sets of criteriaCriteria
Quantity Number of startups
Number of coworking spaces
Number of incubators
Number of meetups linked with startups
Quality Main startups analysis (including traffic, domain authority and client)
Presence of R&Dcenters
Presence of multinational companies
Private sector investment
Number of employees per startup
Number and size of events in relation with startups
Presence of Unicorn, Pantheon o Exit companies
Presence of Global Startup influencers
Organization of Global Startup events
Number of startups backed by incubators
Business environment Diversity index
Internet speed
Internet freedom
R&D investment
Technological services availability
Number of patents per capita
English level
Universities level
Criteria used in Startup Blink's annual ranking of the Best Countries and Cities for Startups in the world

About HelloSafe Canada

Hellosafe.ca is a comparison platform which is shaking up the insurance market – giving you access to the best Canadian insurance deals in less than 30 seconds. Hellosafe.ca is supported and financed by Blue, an Insurtech Venture Capital firm. Blue already owns two leaders in the French insurance comparison market, Réassurez-moi and Coover. These platforms help more than 10 million people with their insurance every year. We have developed a unique comparison technology that gives access to cover details and quotes without customers having to give their phone number or email address. This engine is the result of four years of hard work.

For all press enquiries, please contact :

Nolwenn Abolivier

Nolwenn Abolivier
Press relations officer for HelloSafe in Canada

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