Montréal has become one of the most-watched ecosystems of North America over the last years. We welcome all entrepreneurs who want to create maximum social and economic impact for the city and its citizens.
The COVID-19 pandemic did not limit the ambitions of Montréal's startup ecosystem. In 2020, more than $1.2 billion was invested in startups through venture capital, thanks to megadeals such as AppDirect ($185M) and Sonder ($170M). The first two quarters of 2021 are continuing to be record-breaking for the metropolis with a 37% increase from last year's numbers, supported by funding rounds by Hopper ($170M) and AlayaCare (CAD 225M). This growth in venture capital is proof that the city's startups have international intentions. As stated by Chris Arsenault, partner at Inovia Capital: "What were early-stage tech companies 10 years ago, have grown into growth-stage companies." Montréal also saw two impressive exits, with Telehealth startup Dialogue going public at a valuation of $779M and Fintech company Nuvei going public at a valuation of $3.4B, raising $700M in the biggest initial public offering of a technology company in the history of the TSX. Montréal is also attractive to international investment and talent. In the first semester of 2021, foreign direct investment accounted for $1.86 billion and fDi Magazine (Financial Times) placed the city at first place in the FDI strategy category of the Tier 2 Cities of the Future 2020/2021 global ranking, and second, after San Francisco, in the Economic Potential category. Talent and affordability have a lot to play in these rankings as it is a pole of attraction for Quebec and foreign students with its four major universities and its deep research capacities. With all this in mind, Montréal is truly a top-tier ecosystem that plays among the best.
Ecosystem by the numbers
AI, Big Data & Analytics
Reasons to move your startup to Montréal
A Place to Be
Export and Innovation Hub
Ville de Montréal
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