The MaRS Discovery District is teaming up with Microsoft to help the local startup community in Toronto. The district is a non-profit that aims to support startups in Toronto. MaRS has over 1,200 startups in their ecosystem and has helped create 12,800+ jobs.
Microsoft will be collaborating with MaRS to host a series of events, including corporate teams that will share their expertise to help startups grow.
Canada’s startup ecosystem is booming, and it’s starting to gain worldwide attention. Microsoft is the ideal partner for MaRS because it will curate and host events every quarter that will showcase Canadian startups.
Microsoft will also be providing up to $120,000 Microsoft Azure credits to help startups alleviate many of the costs that stop them from growing. MaRS is the largest urban innovation hub in North America and will help Microsoft launch their Microsoft Reactor inside of the MaRS campus. The Reactor will bring leaders, founders and developers together in the community for business, technology and community events.
Toronto’s robust startup culture has resulted in many startups relocating to the area. Incubators and accelerators help support budding tech companies, and there are mentorships available to help keep startups in their growth cycle. Talent is also widespread, with Toronto being the largest center for research and education in Canada.
A deep talent pool, that is well-educated, is available, allowing these startups to hire high-end talent to help their businesses grow. There’s also ample diversity in the area, with people from all over the world relocating to Toronto every year.
The startup scene is booming, and it shows no signs of slowing down.
Vancouver’s startup ecosystem is also taking a dive, as more startups are choosing Toronto-Waterloo to build their businesses. Startup Genome’s Global Startup Ecosystem Report for 2019 showed that Vancouver fell out of the top 20 spots globally after being ranked ninth in 2019. Toronto moved up in the last year from 16th to 13th to become Canada’s top startup ecosystem.
Toronto’s massive startup growth and unique value proposition have helped the city rise in the rankings. World-class tech companies are being formed and grown in Toronto, and the report sees no signs of the city’s startup dominance slowing down.
Montreal dropped several spots in the rankings from StartupBlink, falling from 34th to 49th. The rankings also had Toronto falling four spots from 11th to 15th in their most recent rankings. Ottawa and Edmonton both rose drastically in the rankings, rising into the top 100 cities for startups across the world.