The Impact Centre, based in Toronto, publishes annual Narwhals’ list of 40 great Canadian tech companies that has potential to become successful on the world stage. They look at the fundraising patterns of over 1,000 private VC-funded Canadian technology product businesses in order to product their final list.
The companies on the list are weighted by their financial velocity. Financial velocity measures the speed at which a company acquires and consumes capital to fuel its growth. It is defined simply as the amount of capital a company has raised divided by the number of years it has been in existence.
Velocity is measured over time and is expressed in millions of US dollars per year. It provides a simple and elegant tool to enable entrepreneurs and investors to gauge the financial attractiveness of young and capital-intensive firms.
As you can see from the list below – entry to the Narwhal List is becoming more exclusive: the minimum financial velocity for entry is now 6.7 vs 4.7 it was in 2017.
You have various companies on the list but most come from either Artificial intelligence or Internet or Mobile industries. Most companies are concentrated mainly in Toronto.
The study points out that unfortunately none of the companies made it to their unicorn list , a company that is worth more than $1 billion, since Kik, messaging app, in 2015. At the same period of time, more than 19 US companies were founded and became Unicorns.
Wired magazine ran a story this weekend declaring Montreal as a clear winner in artificial intelligence.
Wired magazine claims that due to cheap office rent and “community feel” Montreal is able to capture a lead in AI space.
According to PwC, Montreal has raised more capital than any other Canadian cities with total value of investment over $800m. When comparing to the US or San Francisco or New York that is very small but when comparing to other cities in Canada, that’s quite a large chunk of money.
Enticed by Montreal’s low cost of doing business and its research in AI, companies such as Microsoft, Facebook and Google opened offices in Montreal. Even Canadian government pledged further $200m to subsidize the growing AI industry in Montreal.
Yoshua Bengio, world-renowned expert in deep learning, claims Montreal is becoming “a mini Silicon Valley”.
Damien Silès, director of the Quartier de l’innovation, an experimental city laboratory, claims Montreal success is due to Montreal’s
“speaking French with joie de vivre but we’re acting North American – it’s totally different.”
There is also dirt cheap rent in Monteal that’s been low since major companies moved away from Quebec in the 80s and 90s and took head offices and thousands of jobs with them to mainly neighboring province of Ontario.
Jack Jedwab, President of the Association for Canadian Studies (ACS) and the Canadian Institute for Identities and Migration said:
“”I think some of the things that are driving these departures, which are taxation issues, higher income, are things the government needs to work on.
The government needs to be working on lowering people’s taxes. Probably that’ll create a bit more motivation for people who don’t want to leave and want to explore opportunities here with the knowledge that the amount of income they risk losing due to taxation is in a better position.”
Wired also highlighted some leading AI firms in Montreal as being:
But Montreal can win big if it stays open minded and can generate some success stories. Philippe Telio, founder of Montreal Startupfest, says that the only thing holding Montreal back, is a breakout success story.
“Like any community we’re starting to see some great successes, but like any great ecosystem we need a couple of billion-dollar companies to showcase.”
Facebook had important questions to answer to the public however these senators didn’t do their homework. Most of the congressman are in their 70s and 80s and not used to computer and tech talk. The questions they asked makes you wonder if they even know how to turn on a computer or even know what Facebook does.
So without further ado here are the 5 most weird questions asked, poor Mark (see videos below):
Number 1: South Carolina Senator Lindsay Graham (R) asked “Is Twitter the same as what you do?”
Confused much? What does she think Facebook runs a monopoly? “It overlaps with a portion of what we do,” Zuckerberg said.
Number 2: Georgia Representative Buddy Carter (R) asked “Did you know that the Motion Picture Association of America is having problems with piracy and…this is challenging their existence?”
OK let’s blame all privacy issues on Facebook. Zuckerburg response: “Congressman, I believe that has been an issue for a long time.”
Number 3: Hawaii Senator Brian Schatz (D) “If I’m emailing within WhatsApp…does that inform your advertisers?”
Ahhh hold there a second Mr Schatz – you do realize Whatsapp is a chat, and not an email? Mark without correcting him said: “WhatsApp would not lead to related ads.”
Number 4: Florida Senator Bill Nelson (D) “What if I don’t want to receive [ads for chocolate]?”
Ahh OK OK – maybe not such a bad question. But its cookie targeted ads used by thousands of websites, not just Facebook. Blame Chrome and IE browsers and their cookies! Mark answered that users can switch off information if they don’t want that info used to select ads for them.
Number 5: Utah Senator Orrin Hatch (R) “How do you sustain a business model in which users don’t pay for your service?”
Zuckerburg said “Senator we run ads.”
I think my grandma would probably ask more educated questions than these bunch – enjoy the videos below.
The University of Toronto (UofT) has many pioneering achievements to its name, including Canada’s first academic publishing house, the first forest science faculty in the country, and becoming the first Canadian university to reach more than C$1 billion in endowment.
Students and researchers are organised into 12 faculties on the Vancouver campus and a further seven on the Kelowna campus. UBC offers a special joint undergraduate programme with Sciences Po – a higher education institution in Paris.
McMaster’s medical school is well-renowned and the university also provides teaching across the faculties of engineering, business, humanities, social sciences and science. The university places a strong emphasis on research working to target some of the most urgent needs in society particularly in the field of health sciences. This includes research from the Stem Cell and Cancer Research Institute which turned bits of human skin into blood cells, which could help to alleviate the shortage of blood donors.
If you look at Top 1000 you can see many other Canadian universities that made the list such as University of Calgary, Carleton and others.
The report stated that:
Compared with the US, Canada can also provide cheaper study options, simpler application processes and more opportunities for permanent residency.
According to the Canadian Bureau for International Education’s International Student Survey, more than 90 per cent of students questioned were satisfied or very satisfied with their studies in Canada, and 95 per cent would recommend Canada as a study destination.
You can see the full list of universities here , most of them are offering computer science and accept international students.
In Canada it is starting to be good to be an AI developer and / or data AI analyst, AI scientist. According to a new report by Indeed, AI jobs in Canada have risen over 1,069% from 2013.
To compile their report Indeed looked at all available AI jobs posted on their website across different industries in Canada, UK and US.
The result that they got found that AI jobs rose by almost 1,069% since 5 years and are growing at much higher rates than in countries like UK and USA.
Jodi Kasten, managing director at Indeed Canada, said
“Advances in artificial intelligence have stoked fears of large-scale job loss, our data shows that AI can help create jobs, too. These jobs are also found in a variety of industries including finance and tech and for a budding and complex technology like AI, there will be continued need for highly-skilled workers to develop and maintain a wide range of AI applications in Canada.”
Deloitte, one of the “Big Four” accounting firms and the largest professional services network in the world by revenue and number of professionals, has released its yearly published Top 50 Canadian Tech Companies to Watch For.
This year, all top 3 companies fast growing tech companies come as no surprise hail from Ontario, Yours To Discover. As a matter of fact, the list was dominated by 29 companies / almost 60% from Ontario. British Columbia took second spot with 13 companies / almost 30%, and Quebec only had 5 companies (only 10%). Rest were spread out across Canada – mainly in the Prairies.
Diply, London Ontario, a leading social entertainment publisher that creates captivating content for millennials, took the #1 top spot with mindblowing 92881.1% growth.
The #2 spot was taken by Burlington Ontario Prodigy Games, doing a noble job of teaching over 20 million students, teachers, and parents with their free math game for Grades 1 – 8.
So you do not have to be like this guy
And to round up the Top 3 spot was a company with similar name to #2 – Prodigy Ventures from Toronto Ontario, an innovation company, and an early stage investment opportunity in emerging technologies.
Once you used the math game software from #2 , you can straight apply to #3 😉
Anders McKenzie, managing partner at Deloitte Canada, said:
“Fast 50 winners achieve incredible growth. These companies foster the economic prosperity and success of our country. The technology, media and telecommunications sector has achieved significant advances in the last twenty years. This current innovative cohort of companies continues to lead the pack in transforming the way we live and work. They should be incredibly proud of the impact they are making across all industries and how they are shaping the world as we know it today and what it will look like tomorrow.”
Wonder – who made the top 3 from your neck of the woods? Let’s see.
Top 3 Fastest Growing Tech from British Columbia
#4 Bench Accounting from Vancouver
#7 Send to News from Victoria
#9 Refresh Financial from Kelowna
Top 3 Fastest Growing Tech from Quebec
#15 FixmeStick from Montreal
#20 PixMob from Montreal
#29 PlusGrade from Montreal
The full list of Top 50 Canadian Tech is below, so what are you waiting for? Time to apply – they are all hiring. How else do you think they can grow?
The World Economic Forum just released their 25 most high tech cities in the world. Three Canadian cities below made the cut: Montreal was #18, Vancouver #14 and Toronto, of course, is #9.
World Forum has used 10 different criteria to generate their list: number of patents filed per capita, startups, tech venture capitalists, ranking in other innovation datasets, and level of smartphone use.
Top 25 High Tech Cities in The World
25. Washington, DC
The US capital has been rapidly expanding its tech scene over the last decade, growing its overall number of tech-related jobs by 50%.
In addition, more than 1,000 startups call DC home. The proximity to the federal government mixed with the deep pockets of nearby venture-capital firms makes starting a world-changing company an appealing prospect in the city.
24. Barcelona, Spain
The Spanish city cracked the top 25 for the first time since last year’s ranking, in particular for its growing population of industrial designers and prominent smartphone use.
Smartphone infrastructure is so sophisticated, in fact, that electrical boxes strewn around Barcelona contain computers that capture noise levels, traffic patterns, and how many selfies people take.
23. Copenhagen, Denmark
What Copenhagen lacks in startup culture and venture capital, it makes up for with innovative urban planning and a strong contingent of industrial designers — factors that 2thinknow praises as signs the city prioritizes smart manufacturing.
By 2025, the city plans to sever its dependence on fossil fuel, due in large part to harnessed wind energy. Its robust bike culture and fleet of architecture firms allow Copenhagen to be a city that’s not just green, but beautiful.
22. Hong Kong, China
Rather than excel in one particular category, Hong Kong hits just about every box in terms of its advancement.
The city devotes enormous amount of moneytoward research and development and city-wide innovation, boasting some of the fastest Internet speeds in China. Its high-tech exports total $243 billion, or 51% of the total exported goods.
21. Berlin, Germany
Not to be outdone, Germany’s capital city boasts a strong start-up culture and has some of the highest rates of venture capital investment in Europe.
Berlin is also the locus for much of Europe’s automobile industry. It is the only city in the world where all of the major automative brands are represented.
20. Shenzhen, China
Patents are flying out of Shenzhen, a city in southern China that boasts a population of 11 million.
As part of the country’s push toward manufacturing, Shenzhen has grown significantly over the last several years as a hub for factories and robotics. Multiple telecom and electronics giants have found a home base in the city.
19. Bangalore, India
No other city in 2thinknow’s ranking climbed as far compared to 2016’s ranking as Bangalore, which moved from 49th place to 19th.
The change is due to an influx of IT companies and the city’s enormous population of programmers. Half of India is under 25, and many are entering the growing tech space, creating a virtuous circle of growth.
18. Montreal, Canada
If you want to be an industrial designer or programmer, you should consider moving to Montreal. If you want to work in wearable technology (or virtual reality), even better.
Montreal is home to Vrvana, a VR headset manufacturer, and the companies Hexoskin and OMSignal, which both make clothes that measure wearers’ biometric signals. The city also has a fairly strong startup culture.
17. Shanghai, China
The closest Shanghai has to Silicon Valley is the Zhangjiang Hi-Tech Park. It houses more than 100,000 workers split between thousands of tech companies.
Like most of China’s high-tech cities, Shanghai excels in patents and venture capital. That may be because manufacturing has become a top priority in China, and companies are eager to protect (and invest in) their intellectual property.
16. Beijing, China
Though it may lack the startup culture of other high-tech cities, Beijing is renowned for its city-wide use of smartphones and the number of patents filed per capita. It venture capital scene has also grown rapidly over the past several years.
The city climbed 15 spots since the 2016 rankings.
15. Amsterdam, the Netherlands
Amsterdam’s combination of financial technology, energy efficiency, and startup culture make it a powerhouse in Europe, despite being much smaller than its neighbors. (It has only a third of Berlin’s population, for example.)
In April, lawmakers announced they wanted to ban gas and diesel cars by 2025 in favor of electric vehicles — perhaps the city’s most visible sign of its look toward the future.
14. Vancouver, Canada
In 2014, the CBC called Vancouver “Silicon Valley North” in recognition of its strong start-up culture.
There are more than 600 digital media companies that generate more than $2 billion in revenue. Tech-focused universities and low corporate tax rates, meanwhile, make the city attractive for both up-and-coming engineers as well as established executives.
13. Stockholm, Sweden
With missions to go cash-free and oil-freewithin the next five years, Stockholm is fully embracing the digital and environmental revolutions.
The city also has the most billion-dollar startups in Europe and the world’s second-fastest-growing market for venture capital investments. It’s no wonder that programmers are flocking to the Swedish capital.
12. Tokyo, Japan
The largest city in the world doesn’t achieve that feat without impressive levels of infrastructure — transportation in particular. Tokyo’s subway system, for example, is used by 2.3 billion people every year.
Tokyo excels in venture capital investments, and is home to a dizzying number of tech giants, many of which are already preparing for the 2020 Olympic Games.
11. Dallas-Fort Worth, Texas
Just within the last couple years, Dallas has established itself as a startup hub.
In 2thinknow’s analysis, the Texas city climbed from 28th in 2016 to just outside the top 10 because of its rapid growth in the number of venture capitalists and integration of technology into the city landscape.
10. Chicago, Illinois
You might not think of the Midwest as a startup magnet, but Chicago is quickly proving that assumption false. A recent report found Illinois was among the top five in high-tech jobs in the US, with the Windy City making up a big chunk of those spots.
Brookings Institute also finds Chicago is a hotbed for urban planning innovation, driven largely by City Digital, a project designed to solve problems related to energy transfer and transportation.
9. Toronto, Canada
Rife with startups and innovative infrastructure, stemming from places like the Cisco Innovation Center, Toronto is home to 30% of Canada’s IT firms, the majority of which have fewer than 50 employees. That means there’s a crop of young companies poised to make an impact in the next decade.
Overall, the city’s firms account for approximately $52 billion in yearly revenue.
Aside from being a giant, rain-absorbing sponge, Singapore boasts an extremely high number of programmers and venture capitalists. The city-state is constantly introducing new infrastructure and high-tech high-rises, including one with an entire forest in the atrium.
It has partnered with MIT to build smarter transportation that relies less on private carsand more on public trains and light rail.
7. Boston, Massachusetts
A huge number of exciting technologies have been coming out of Boston over the last several years from STEM elites like MIT, Harvard, Tufts, and Northeastern — many of them in the biotech and robotic fields.
The city has a handful of venture capital firms (Battery Ventures, Atlas Venture, Bessemer Venture Partners, Matrix Venture Partners) that pour money into innovation labs and university startups. And big-name companies like Facebook and Amazon have set up R&D offices in Boston to pull from this growing pool of talent.
6. Taipei, Taiwan
According to 2thinknow’s analysis, Taipei is the far-and-away leader when it comes to industrial design. This has been the case for years — the city much prefers to delve into hardware rather than software. Some of the largest PC companies call the city home, including Asus, MSI, Gigabyte, and Acer.
According to 2thinknow, the city also scores highly in its number of venture capitalists.
5. Seoul, South Korea
Seoul has been called the city of the future, and rightfully so. Innovation is practically baked into its design, as its metro system may even have New York’s subway beat.
According to 2thinknow, Seoul files more patents than just about any city in the world. It has developed technology that is already ubiquitous — such as the LTE beamed to our smartphones — as well as tech still in its infancy, like virtual stores where you scan pictures of items to be delivered later.
4. Los Angeles, California
Film isn’t the only industry in LA.
In 2014, a report by the LA County Economic Development Corporation suggested that LA had more high-tech sector jobs than any other region in the US. The report also found the total wealth output hovers around $58 billion. When 2thinknow performed its analysis, it found the same: Startups and venture capital play a major role in LA’s tech sector boom.
3. London, England
London has become a public transportation dream over the last year with the introduction of its Crossrail project. By 2018, 10 new train lines will connect 30 existing stations with brand-new tunnels. At $20 billion, it’s the largest construction project in Europe.
2thinknow finds London has more startups and programmers than almost any other city in the world. By some estimates, there may be more IT jobs in London than all of California.
Some estimates say there will be 11,000 new tech jobs added within the next decade.
2. New York, New York
New York is a special kind of tech heavyweight. It is both extremely dated in its infrastructure, but at the same time, unbelievably progressive.
According to the state comptroller’s office, nearly 7,000 high-tech companies in New York City provided more than 100,000 jobs during the third quarter of 2013. In addition to starting companies, the city also launches integrated, citywide technology: LinkNYC, a free Wifi service, has over 500 kiosks around Manhattan available for public use, and many experts believe the city is just getting started.
1. San Francisco, California
If every city claims to be the “Silicon Valley” of its particular home country, you can guarantee Silicon Valley is the gold standard for tech.
Since 2thinknow defines the region by its largest neighboring city, San Francisco takes the top spot. It is the undeniable epicenter of all things tech, from its gigantic startup culture to its venture capital scene to its population of designers and programmers.
Silicon Valley wins in just about every category because the supply chain of innovation has made its home there, even as smaller contenders claw at the title.
Canadian tech startups, news, opinions and jobs in Canada