Toronto Startup Ecosystem 2025
Europe's leading startup ecosystem with strong fintech, AI, and enterprise software focus. Access to North American markets, diverse talent, and world-class universities.
Ecosystem Overview
💰 Funding
$5B+ in total funding
15 unicorn companies
Growing VC ecosystem with Real Ventures, iNovia, and OMERS Ventures
👥 Talent
200K+ tech workers
5 universities
University of Toronto, Ryerson, York, OCAD
🏢 Infrastructure
30 accelerators
100 co-working spaces
Strong government support and immigration-friendly policies
Cost of Living
Average Rent
C$2,000
1-bedroom apartment
C$2,800
2-bedroom apartment
Cost Index
125
Relative to US average (100)
25% above US average
Notes
Rent data from Numbeo. Cost of living index relative to US national average (100). Toronto is expensive but more affordable than SF/NYC.
Top Accelerators
Techstars Toronto
Global accelerator network with Toronto program
Creative Destruction Lab
Seed-stage program for science-based companies
DMZ
Ryerson University's startup incubator
NextAI
AI-focused accelerator and community
Co-working Spaces
WeWork
Global co-working space with multiple locations in Toronto
Spaces
Co-working space with Toronto locations
OneEleven
Co-working space for scaling tech companies
Government Resources
University Programs
Top VCs & Funding Sources
Notable Companies
Frequently Asked Questions
Why should I start a startup in Toronto?
Toronto is Canada\'s leading startup ecosystem with strong AI talent, access to North American markets, and government support. It\'s particularly strong in AI/ML, fintech, and enterprise software, with lower costs than US tech hubs and immigration-friendly policies.
What are the main industries in Toronto?
Toronto is strongest in AI/ML (home to Vector Institute and strong research), fintech, enterprise software, healthtech, EdTech, and e-commerce. The city has a diverse startup ecosystem with particular strength in AI.
How expensive is it to live in Toronto?
Toronto is more affordable than San Francisco or New York but expensive for Canada. Average rent for a 1-bedroom is around C$2,000/month. The cost of living index is 125 (25% above US average), making it relatively affordable for a major tech hub.
What visa options are available for entrepreneurs?
Canada offers a Startup Visa Program for entrepreneurs starting innovative businesses. You need to be supported by a designated organization and have a viable business idea. The program can lead to permanent residency.
What are the top accelerators in Toronto?
Top accelerators include Techstars Toronto, Creative Destruction Lab, DMZ, and NextAI. These programs provide funding, mentorship, and access to networks to help startups grow.
How does Toronto compare to other North American startup hubs?
Toronto is Canada\'s #1 startup ecosystem, ranking #18 globally. It has strong AI talent, lower costs than US hubs, and excellent government support. While funding is smaller than US hubs, it\'s growing rapidly and offers great quality of life.
Best Cities for Your Industry
Toronto is strong in multiple industries. Compare how it ranks against other cities for your specific industry.
💳 Fintech
Compare Toronto with other top fintech hubs like New York and San Francisco.
Compare cities →🤖 AI & Robotics
See how Toronto compares to Boston and San Francisco for AI and robotics.
Compare cities →🛒 E-commerce
Compare with Los Angeles, New York, and San Francisco for e-commerce.
Compare cities →💼 Enterprise Software
Compare with San Francisco, Seattle, and Austin for enterprise software.
Compare cities →