Data for 2016
There seems to be a shift away from focusing on startups to focus on those companies in Canada that are scaling. This appears to have been predicated on the premise that Canada has become good at starting companies but is challenged at scaling them to world-class size.
This Impact Brief has been designed to develop a framework to measure Canada’s startup and scaleup rate in the technology sector.
What we found is that we still lag many of the US states including Pennsylvania, Illinois and Georgia and particularly Massachusetts, New York, and California at both starting and scaling companies. We hold our own however when compared to Europe.
One reason that Canadian companies fail to become world-class is that we aren’t starting the right types of companies. The world’s leading research-intensive companies operate in four major markets: life sciences, automotive, hardware and electronics, and software. And almost all of the leading companies in these fields serve either consumers or a combination of consumers and businesses.
But Canada is not known for its ability to create and grow companies that serve consumers. If we want to create world-class companies we need to create them in world-class markets and these are predominantly consumer markets.
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