NACO members have deployed more than CAD $1.8 billion into over 2,000 Canadian ventures. Learn more at nacocanada.com
1.4. About the Canadian startup ecosystem and funding landscape 1.3.1 Recent Performance has been worse than peers Canada’s startup ecosystems have in recent years seen much slower growth than their peers in the US and elsewhere: ● Between 2019 and 2024 the world’s top-50 and 300 startup ecosystems saw a collective annual growth (CAGR) of 9.2% and 9.5% in Ecosystem Value (EV) ● The UK and France achieved significantly higher growth rates (13% and 17% CAGR respectively) ● Canada achieved a meagre 2.2% CAGR Because startups are a vital force for driving economic growth, net new job creation, and corporate competitiveness, this slower growth means unrealised potential for economic growth and innovation, as well as missed opportunities to increase productivity and employment. Reflecting this, Canadian ecosystems have fallen in the Global Startup Ecosystem Rankings over the last 6 to 8 years: ● Toronto-Waterloo has fallen from 13th position in 2019 to 20th in 2025 ● Vancouver has fallen from 15th in 2017 to 36th in 2025 ● Montreal has fallen from 20th to 39th in 2025 ● Outside the top 40, performance has been slightly more mixed, but most Canadian ecosystems have fallen over the past three years.
Startup Genome | San Francisco • Berlin • London • Delhi • Tokyo • Abu Dhabi • Bangalore • São Paulo
p. 7
Powered by FlippingBook