Read this post because
It will provide start-up founders/investors an overview of the Canadian start-up landscape.
Before getting into why Canada shall be on every entrepreneur’s radar, meaning of “start up” shall be agreed upon for the sake of this post. The use of the term “start-up” has indeed seen an incredible increase in the past few years but there still is no clear consensus on what it specifically means. Same can be argued for “innovation”. Nonetheless, there are common characteristics that almost all agree on, and believe that a start up needs to have: high risk, and very high growth potential. With this in mind, Canada is on the express lane to becoming a start-up powerhouse.
Canada is the “Silicon Valley of the North”
There are many reasons Canada is dubbed the “Silicon Valley of the North”. Among them the most important are:
Economic Security and Business Health
Canada sits among the top 10 of the world’s freest economies, preceding both the UK and the US. The Index of Economic Freedom, on which Canada is ranked number 9 in 2020, takes cultural aspects such as property rights, freedom from corruption, government spending, fiscal freedom, business freedom, labor freedom, monetary freedom, trade freedom, investment freedom, and investment freedom into account when determining a country’s ranking. This kind of economic environment makes a big impact on business culture and is one reason why Canada ranks high as a start-up favorite destination.