Canada

Montréal

Early-Globalization Phase
MEMBERS:
Ville de Montréal Centech Real Ventures Bonjour Startup Montréal Montréal International

Startups are at the heart of Montreal’s entrepreneurial sector. They are a powerful lever for the economic development of our metropolis.

Valérie Plante
Mayor of Montréal

Sub-sector Strengths

Life Sciences

Greater Montreal has 620 organizations, +150 research centers, 11 post-secondary institutions, and 80 multinational subsidiaries, many of which collaborate via open Innovation programs and AI-driven public-private partnerships. Scientific and clinical research received $118 million in provincial funding, while NÉOMED Innovation Center received a $25 million investment. Notable activity includes the acquisition of Clementia Pharma for $1.3 billion(after its IPO in 2017), the IPO of Milestone Pharmaceuticals’ ($468 million), and the $82.5 million Series B round for Repare Therapeutics.

AI, Big Data & Analytics

Headquartered in Montreal are AI-powered supply chain hub SCALE AI, the world’s largest academic research center in deep learning MILA, and the Institute for Data Valorization IVADO. Greater Montreal has seven AI accelerators, nine research centers, and 17 corporate labs (seven new last year). AI contributes to the strength of Montreal’s Robotics, Advanced Manufacturing, Medtech, and Mobility sectors. A new $250 million AI-fund was created by CDPQ. Local startups Element AI, Stradigi.ai, Alaya Care, and Dialogue raised a combined $468 million.

Why you should invest in Montréal

TOTAL EARLY STAGE FUNDING
$525 m
GLOBAL AVG.
$431 m
ECOSYSTEM VALUE
$8.7 bn
GLOBAL AVG.
$10.5 bn
#5 North American Ecosystem
Affordable Talent
Top 20 North American Ecosystem
Talent
7
Exit Growth
INDEX
9
Investor Activity
INDEX
6
Funding Growth
INDEX

Reasons to move your startup to Montréal

MEDIAN SEED ROUND
$762 k
GLOBAL AVG.
$494 k
MEDIAN SERIES A ROUND
$5 m
GLOBAL AVG.
$2.7 m
SOFTWARE ENGINEER SALARY
$55 k
GLOBAL AVG.
$42.1 k

A Place to Be

Greater Montreal is the most affordable major city in North America and the best-ranked student city in the Americas.

Export Hub

Canada is the only country that has free trade agreements with all G7 countries and 38% of local startups export internationally.

Funding

There are seven new investment funds ($876 million total), $33 million for PME MTL, and $3.75 million for the ecosystem leader Bonjour Startup Montreal. Montreal’s unicorn, Lightspeed POS Inc., IPO'd in March 2019 ($1.4 billion valuation).

COVID-19 Policy

The federal-funded IAP ($250 million grants) and the BCAP interest-free loans (max $40,000) aimed to support $10,000 early stage startups. Provincially, the Quebec government launched PACTE and PACME to access loans of min $50,000, and to cover training expenses, respectively. Montreal also unlocked an emergency fund for retail businesses, social economy, creative and cultural industries and tourism sectors.

Startup Community

Startup Genome
Members

Startup Genome
Partners

Real Ventures & FounderFuel
Techstars AI
Tandemlaunch
Fondation Montréal Inc.
MT Lab
Ministère de l’économie et de l’innovation du Québec
Techno-Montréal
Ivado et Montréal international
District 3
HEC Montréal
Notman House
PME MTL
Quartier de l’innovation
Réseau Capital
Startup Fest
MTL Newtech

Featured Articles from
Local Ambassadors

Get connected

Are you interested in diving deeper into this ecosystem? Drop us a message. Our Ambassadors and Partners can plug you in.