<div id="dashboard-description"><img src="https://images.unsplash.com/photo-1526417501781-5e7e587b7686?ixlib=rb-4.0.3&amp;ixid=M3wxMjA3fDB8MHxzZWFyY2h8OHx8dG9yb250b3xlbnwwfHwwfHx8MA%3D%3D&amp;w=1000&amp;q=80" alt="CN tower, Canada">
 Toronto, the stands as an important financial hub in Canada and proudly claims its spot among the world’s favored destinations for startups. Several key factors contribute to this distinction: a global demographic mix, a ,network of accelerators and incubators, and an accessible and friendly startup community. 
 In the past, Toronto’s startups often migrated south of the border or opted for early acquisitions, resulting in few substantial exits or IPOs within the city. However, winds of change are sweeping through Toronto’s startup ecosystem. The city’s startups are rising fueled by a robust network of entrepreneurs and startup resources, including universities, accelerators, and coworking spaces. 
 One standout success story in Toronto’s startup realm is <a href="https://www.freshbooks.com/?utm_campaign=startupblink&amp;utm_medium=startupblink&amp;utm_source=startupblink">FreshBooks</a>, co-founded by Michael Dermont and Joe Sawada in 2004 to address small business accounting challenges. FreshBooks has rapidly ascended to become a leading cloud accounting solution, attracting investments from prominent backers like Oak Investment Partners, Atlas Venture, and Georgian Partners. 
 <a href="https://www.waveapps.com/?utm_campaign=startupblink&amp;utm_medium=startupblink&amp;utm_source=startupblink">Wave</a>, another notable player, offers award-winning free software encompassing invoicing, accounting, receipt scanning, and personal finance. This is complemented by a suite of financial services, including payment processing, payroll, and lending. As of January 2018, over 3 million businesses worldwide have embraced Wave to enhance their operations. 
 <a href="https://1password.com/?utm_campaign=startupblink&amp;utm_medium=startupblink&amp;utm_source=startupblink">1Password</a> takes center stage by providing comprehensive control over passwords and sensitive business data. As an integral component of the Identity and Access Management (IAM) stack, 1Password safeguards all employee accounts, including those that might slip under the radar. It furnishes employees with secure access to apps and services, enabling safe collaboration by sharing logins, documents, credit card information, and more while maintaining stringent privacy. 
 Toronto’s startup scene is growing because of a mix of reasons. Some say it’s because living here is cheaper than in places like New York and San Francisco. Salaries are not super high, and there’s not too much competition for tech workers. Others think it’s good because there aren’t as many tech companies here, so it’s easier to get noticed. And some like the friendly and helpful people in the startup community here. 
 One recurring theme in Toronto’s appeal as a startup hub is its diverse and globally-oriented population. This demographic diversity enables startups to envision their products within a global context. 
 Additionally, Toronto has witnessed a growth of incubators, accelerators, and coworking spaces that are driving startup growth. WToronto’s startup ecosystem is now mature enough for startups to engage with mentors, exchange ideas, and develop products with global reach. To sustain this momentum, it must continue evolving to keep pace with other top ranked ecosystems preventing any brain drain and capital flight. 
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![CN tower, Canada](https://images.unsplash.com/photo-1526417501781-5e7e587b7686?ixlib=rb-4.0.3&ixid=M3wxMjA3fDB8MHxzZWFyY2h8OHx8dG9yb250b3xlbnwwfHwwfHx8MA%3D%3D&w=1000&q=80)


 Toronto, the stands as an important financial hub in Canada and proudly claims its spot among the world's favored destinations for startups. Several key factors contribute to this distinction: a global demographic mix,, a ,network of accelerators and incubators, and an accessible and friendly startup community. 

 In the past, Toronto's startups often migrated south of the border or opted for early acquisitions, resulting in few substantial exits or IPOs within the city. However, winds of change are sweeping through Toronto's startup ecosystem. The city's startups are rising fueled by a robust network of entrepreneurs and startup resources, including universities, accelerators, and coworking spaces. 

 One standout success story in Toronto's startup realm is [FreshBooks](https://www.freshbooks.com/?utm_campaign=startupblink&utm_medium=startupblink&utm_source=startupblink), co-founded by Michael Dermont and Joe Sawada in 2004 to address small business accounting challenges. FreshBooks has rapidly ascended to become a leading cloud accounting solution, attracting investments from prominent backers like Oak Investment Partners, Atlas Venture, and Georgian Partners. 

 [Wave](https://www.waveapps.com/?utm_campaign=startupblink&utm_medium=startupblink&utm_source=startupblink), another notable player, offers award-winning free software encompassing invoicing, accounting, receipt scanning, and personal finance. This is complemented by a suite of financial services, including payment processing, payroll, and lending. As of January 2018, over 3 million businesses worldwide have embraced Wave to enhance their operations. 

 [1Password](https://1password.com/?utm_campaign=startupblink&utm_medium=startupblink&utm_source=startupblink) takes center stage by providing comprehensive control over passwords and sensitive business data. As an integral component of the Identity and Access Management (IAM) stack, 1Password safeguards all employee accounts, including those that might slip under the radar. It furnishes employees with secure access to apps and services, enabling safe collaboration by sharing logins, documents, credit card information, and more while maintaining stringent privacy. 

 Toronto's startup scene is growing because of a mix of reasons. Some say it's because living here is cheaper than in places like New York and San Francisco. Salaries are not super high, and there's not too much competition for tech workers. Others think it's good because there aren't as many tech companies here, so it's easier to get noticed. And some like the friendly and helpful people in the startup community here. 

 One recurring theme in Toronto's appeal as a startup hub is its diverse and globally-oriented population. This demographic diversity enables startups to envision their products within a global context. 

 Additionally, Toronto has witnessed a growth of incubators, accelerators, and coworking spaces that are driving startup growth. WToronto's startup ecosystem is now mature enough for startups to engage with mentors, exchange ideas, and develop products with global reach. To sustain this momentum, it must continue evolving to keep pace with other top ranked ecosystems preventing any brain drain and capital flight.

Intuit Prosperity Accelerator

Yspace

Seneca Helix

48 Yonge Street

Scotia Plaza

357 Bay St

YSpace

Hipo 

TECHNATION

Wattpad

StackAdapt

Tailscale

Prodigy Education

Regus - Ontario, Toronto - Davisville Centre

Regus - Toronto Parkway Place

Hudson's Bay Queen Street

Toronto Area has 2,541 startups in our sample database. This represents about 34% of Canada’s startups. Toronto Area is the highest-ranked startup ecosystem in Canada.

In 2025, the startup scene of Toronto Area shows much promise after advancing in the Global Ecosystem Index by 1 spot.

Explore Toronto Area’s startup ecosystem which ranks 1st in Canada and 21st globally. Discover startups, unicorns, and exits in Toronto Area. Dive into Software & Data, which is the best startup industry in Toronto Area.

Startup Ecosystem of Toronto Area | StartupBlink

Our startup ecosystem map for Toronto Area includes a sample of 2,541 tech companies. We have identified as unicorns 10 startups that have passed the USD 1 billion valuations. Contributing to the vitality of this startup ecosystem are the 1 pantheon member entity. Get the <a class="underline" href="https://lp.startupblink.com/pro-map/">Pro account</a> for unrestricted insights on this ecosystem.

With a large variety of initiatives, Toronto Area's startup ecosystem stands out from other cities in North America. Toronto Area offers a number of funding opportunities for entrepreneurs and startups.
  Below is a list of Toronto Area's most prominent support initiatives:

Within Toronto Area there is an increased attraction for entrepreneurs
  to set up their startups in industries such as Software & Data, Marketing & Sales, Fintech. These three industries represent about 45% of the startups
represented on the Startup Ecosystem Map of Toronto Area. 

Toronto Area is Canada's 1st best startup
  ecosystem and is ranked 8th in North America. With a population of 2M - 10M people,
   Toronto Area is ranked 21st in the world. The city has some notable startup success stories
   including Wattpad and its startup ecosystem infrastructure is strengthened by
       organizations such as Constellation Software and Regus - Ontario, Toronto - Davisville Centre.

An inspiring ecosystem that is steadily due to its growing use of digital technologies, rapid urbanization and planned investments

WADAAG TECHNOLOGIES

Sostec

FGS Bill Tracker

Zaad

Wadaag Investment

A growing regional and global startup leader 

bitget.com

AscendEX

DeBank

Trip.com

Viki

A vibrant and strong startup hub attracting international recognition and investment

Cámara de Comercio de Bogotá

Founder Institute (FI) Bogota

RockStart Latam 

Calle 127a # 53a-45

Carrera 19 # 100 - 45

WeWork

Toastmasters Bogota

Picap

Autolab

Cubbo

Rappi

Addi

Bold

Carrera 11B # 99 - 25

Calle 81 #11-08

A leading regional startup hub owing its succes to the creative and innovative spirit of its people 