The Startup Ecosystem of Toronto-Markham Area

Toronto-Markham Area has 1743 startups in our sample database. This represents about 35% of Canada’s startups. Toronto-Markham Area is the highest-ranked startup ecosystem in Canada.

CITY RANKING

In 2023, the startup scene of Toronto-Markham Area shows much promise after advancing in the Global Ecosystem Index by 1 spot.

National Ranking

1st
0
In Canada

Regional Ranking

10th
0
In North America

Global Ranking

23rd
+
1
Worldwide

Startups

Toronto Top Startup Industries

Energy & Environment icon
Energy & Environment
#14 worldwide

31 startups

Software & Data icon
Software & Data
#15 worldwide

507 startups

Hardware & IoT icon
Hardware & IoT
#16 worldwide

69 startups

Ecosystem HealthCheck

Toronto Ecosystem Health Check

The health check tables allow you to look at the performance Toronto has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...

  • Overperformance
  • Performance equal to global ranking
  • Underperformance

No data found.

ParameterParameter Global rankParameter rank change since 2022ResultContribution to total scoreRank gain / loss due to parameter

ECOSYSTEM

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Ecosystem

The Startup Ecosystem in Toronto

Our startup ecosystem map for Toronto-Markham Area includes a sample of 1743 tech companies. We have identified as unicorns 9 startups that have passed the USD 1 billion valuations. Get the Pro account for unrestricted insights on this ecosystem.

Global Rank

Toronto-Markham Area is ranked within the top 30 startup ecosystems globally.

Top Industries

Toronto-Markham Area’s startups excel particularly in Energy & Environment where it ranks 14 and in Software & Data, and Hardware & IoT. Find out more

Top Cities for Startups in Canada - Ranked by StartupBlink
StartupBlink ranks the startup ecosystems of 100 countries and 1,000 cities. Download our latest Global Startup Ecosystem Report.
Rows:
2023 National Rank & Change ▲
2023 National Rank & Change City
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Global Rank & ChangeTotal Score
Access subscores for 1000 cities and 100 countries
Quantity Score
Quality ScoreBusiness Score
1st
0
23rd
+
1
32.630
00.00
00.00
00.00
2nd
0
41st
-
1
17.592
00.00
00.00
00.00
3rd
0
44th
+
1
15.755
00.00
00.00
00.00
4th
0
68th
+
21
9.033
00.00
00.00
00.00
5th
0
76th
+
15
8.508
00.00
00.00
00.00
6th
0
111th
-
7
6.390
00.00
00.00
00.00
7th
+
1
129th
+
13
5.531
00.00
00.00
00.00
8th
-
1
144th
-
4
4.505
00.00
00.00
00.00
9th
0
180th
+
3
3.449
00.00
00.00
00.00
10th
+
2
224th
+
9
2.282
00.00
00.00
00.00
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Startups

Notable Startups in Toronto
SHOPLAZZA startup icon
SHOPLAZZA
Prodigy Education startup icon
Prodigy Education
Just Eat Takeaway startup icon
Just Eat Takeaway

Startups

Successful Energy & Environment startups in Toronto
Hydrostor startup icon
Hydrostor
Terrestrial Energy startup icon
Terrestrial Energy
ChargeLab startup icon
ChargeLab

ECOSYSTEM

Why should you join Toronto's Startup Ecosystem?

Overview

Within Toronto-Markham Area there is an increased attraction for entrepreneurs to set up their startups in industries such as Energy & Environment, Software & Data, Hardware & IoT. These three industries represent about 35% of the startups represented on the Startup Ecosystem Map of Toronto-Markham Area.

1st

National Rank

10th

Regional Rank

Overview

Toronto-Markham Area is Canada's 1st best startup ecosystem and is ranked 10th in North America. With a population of 2M - 10M people, Toronto-Markham Area is ranked 23rd in the world. The city has some notable startup success stories including SHOPLAZZA.

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