2.2. Canadian Ecosystems For the purposes of this study, Startup Genome selected eight Canadian startup ecosystems. In Startup Genome’s methodology, an ecosystem is defined as a shared pool of resources generally located within a 60-mile (100-kilometer) radius around a center point in a given region. The chosen ecosystems were as follows, grouped into two tiers according to their position in Startup Genome’s 2024 Global Startup Ecosystem Ranking (GSER):
Tier 1 Canadian Ecosystems
Tier 2 Canadian Ecosystems
Toronto-Waterloo Vancouver Montreal
Calgary Edmonton Atlantic Canada Quebec City Ottawa
Note: from interviews, it was apparent that Toronto benefited from regional funding initiatives, such as the Ontario Venture Capital Fund which was established in 2008, slightly before the national programmes. Thus for some analyses, Toronto was analysed separately. 2.3. Comparator Ecosystems Peer ecosystems were also grouped into two tiers. ‘Tier 1’ benchmarks were selected based on their 2024 GSER rank, as examples of mature North American ecosystems. We opted for North American ecosystems because ecosystem development strategies vary across countries, and European or Asian ecosystems may have differences in culture, law, or regulation that might weaken their applicability as comparators. The pool of potential comparators was not limited solely to the US, although all the North American ecosystems that happened to be close in rank to the Canadian ecosystems happened to be located in the US. Note that Silicon Valley was also used as a comparator, but is generally presented
Startup Genome | San Francisco • Berlin • London • Delhi • Tokyo • Abu Dhabi • Bangalore • São Paulo
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