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4 Tech Hotspots in Canada Your Company Should Know

May 14, 2024

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Canada is quickly emerging as a competitive force on the global tech stage. If your company has recently expanded its tech talent search to our northern neighbors, there are a few Canadian tech hotspots you need to know about.

Before you start your search, partner with a global EOR platform to streamline the hiring process internationally, manage global contracts, and ensure legal compliance with Canadian labor laws. Next, focus your efforts on the four hotspots listed below.

Toronto

Canada’s largest city, Toronto, is the country’s all-around tech juggernaut. Dubbed “the Silicon Valley of the North,” its meteoric rise in the last decade puts it in conversation with the biggest tech hubs in the world.

According to Visual Capitalist, Toronto trails only the San Francisco Bay Area and New York Metro Area in terms of the tech labor pool in North America. Crucially, tech salaries in Toronto are appreciably lower in Toronto than either of its two American rivals: The Bay Area posts an average tech wage of $185k, while Toronto (like other Canadian cities) posts an average annual salary of CAD 77k (USD 57k).

What does this mean for American companies looking for talent? It means that you can access a tech talent pool roughly the size of Los Angeles (a little larger, in fact) for wages less than half that of San Francisco. Moreover, Toronto’s innovation scene, competitive STEM university programs, numerous tech incubators, and open approach to immigration make it a magnet for top talent.

Vancouver

Vancouver’s focus on innovation and sustainability mirrors those of US hotspots like Seattle and San Francisco.

According to the Visual Capitalist article linked above, Vancouver is one of North America's three fastest-growing tech hubs (alongside the next two on this list, incidentally). Vancouver has also overtaken big American cities like Philadelphia and Houston in terms of tech workers.

It also happens to be a short flight (or Amtrak train) from central American hubs on the west coast, making hiring in person from Vancouver relatively straightforward. Before hiring your Canadian tech talent, partner with an EOR to hire quickly and compliantly.

Montreal

Montreal is Canada’s largest French-speaking city, although a majority of its citizens speak English. In the tech world, it’s known for its robust game and app development sectors, hosting major companies like Ubisoft, EA, and Guarana Technologies. Therefore, if your company needs app developers or game designers, Montreal is the place to look.

As mentioned, Montreal is one of the three fastest-growing tech spots of the last five years.

Calgary

Calgary is the largest city in the province of Alberta, Canada’s central oil and gas region. As such, a significant sector of the tech scene intersects with the energy industry – ideal if you’re looking for niche tech talent in energy solutions.

However, you can’t wholly pin Calgary down to its energy ties; its recent flood of digital education funding and skills development investments, along with its fast-growing immigration from tech hubs worldwide, make it a well-rounded spot for US companies seeking talent.

See:  Golden Ventures’ $100M Boost for Canada’s Tech

Take advantage of impressive talent pools, lower average salaries, and world-leading diversity in these four exciting tech cities.


NCFA Jan 2018 resize - 4 Tech Hotspots in Canada Your Company Should KnowThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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