The Québec City ecosystem has evolved and matured in recent years. Its startup economy is now considered a best in class ecosystem, with 369 startups per 100, 000 people. The CA$1.3 billion ($948,000) QuébecResearch and Innovation Strategy initiative aims to boost collaborative research, increase access to research and innovation expertise for businesses, and drive technology innovation via entrepreneurs. Accelerator LE CAMP supported 122 startups in 2022, and won the InBIA technology accelerator of the year award, as well as the Dinah Adkins award 2022. It generated an economic impact of $194.5 million in 2022. The financing obtained by the startups working with LE CAMP amounts to $109.3 million. The Impulsion PME Program from Investissement Québec helps startups access capital by matching funding up to $1 million in initial rounds. Many specialized incubators including Quantino, 2 Degrés, and Mycellium offers industry-specific expertise and equipment to accelerate product development.

Québec City benefits from its easily accessible location, with the U.S. border approximately 100 miles away and direct flights to many international destinations. The provincial capital, it has a European flavor with easy access to nature and outdoor activities. Canada’s Start-Up Visa offers permanent residence to qualified immigrant entrepreneurs.

LeddarTech, which creates environmental sensing platforms for autonomous vehicles, raised $147 million in 2022. QScale, a mega data center will invest almost $1 billion to build one of the world's most important and innovative computing centers with energy recovery. Omy Laboratoires, an AI-powered personalized skincare product company, raised $11 million in an April 2023 venture round.