Montréal’s Tech Ecosystem By the Numbers

Startup Montréal, Ministère de l’Économie, de l'Innovation et de l'Énergie, Réseau Capital, Montréal International, and Ville de Montréal have teamed up with Startup Genome to spotlight Montréal's entrepreneurial ecosystem in the Global Startup Ecosystem Report:

• Ranking as the #39 Global Startup Ecosystem, moving up one spot from GSER 2023

• The ecosystem created $39 billion in Ecosystem Value from Jul 01, 2021 to Dec 31, 2023, representing 28% compound annual growth compared to Jul 01, 2019 to Dec 31, 2021 time period. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations.

• Top 35 Global Ecosystem and Top 15 North American Ecosystem in Performance — measures the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding

• Top 40 Global Ecosystem and Top 20 North American Ecosystem in Talent & Experience — measures long-term trends over the most significant performance factors

• Top 10 North American Ecosystem in Affordable Talent — measures the ability to hire tech talent

• Top 15 North American Ecosystem in Bang for Buck — measures the amount of runway tech startups acquire, on average, from a VC round

• Top 20 North American Ecosystem in Funding — measures innovation through early-stage funding and investor’s activity

• Top 30 North American Ecosystem in Knowledge — measures innovation through research and patent activity

• The Life Sciences, Fintech, and Cleantech sectors are highlighted for their density of talent, support resources, and startup activity

“I don’t think there’s any city in the world that is more entrepreneurial than Montréal. I have no doubt that immigrants have contributed to shaping the city’s entrepreneurial spirit. Montréal is the perfect city for those who have business in their blood,“ says Harley Finkelstein, President at Shopify.

"We celebrate Montreal's rise in the top 40 ranking and impressive $39 billion in Ecosystem Value, thanks to the skillful work and leadership of Startup Montréal, Ministère de l’Économie, de l'Innovation et de l'Énergie and Réseau Capital, Montréal International, and Ville de Montréal," expressed JF Gauthier, Founder & CEO of Startup Genome. "We are proud to be working with such a stellar team of ecosystem leaders."

For more insights and an overview of Montreal’s startup landscape, visit the Montreal ecosystem page.

To learn more about startup ecosystems around the world, view the full, free Global Startup Ecosystem Report.