Montreal, has one of the largest economies in Canada and is also one of the best Canadian cities for startups. Along with Toronto and Vancouver, Montreal was ranked as one of the top 20 best startup ecosystems in the world.
According to Startup Compass, among these three cities, Montreal is the only one that has moved up in their rankings from their previous report in 2012.
A strong community that is strengthened and supported through startup events like Startup Fest that support non-profit organizations, as well as incubators like Montreal NewTech and Notman House.
One of the biggest advantages Montreal has over other cities on this list is its affordable real estate market, which allows local startups to keep their costs the lowest in North America.
While the cost of living in other major cities continues to rise, Montreal home prices remain low. Currently, the average price of a home in Montreal is around 250k USD, making it much more affordable to buy or rent than other major cities in North America.
Montreal also boasts a strong talent pool, thanks to the city’s numerous universities and technical institutes. For example, the most talented young entrepreneurs settle in Montreal thanks to Concordia’s John Molson School of Business, while local technical schools produce energetic and capable engineers.