The Toronto-ݮƵstartupecosystem has risen four spots in the recently released 2021(GSER) by Startup Genome.The report ranks 140 ecosystemsaround theworldand highlights Toronto-ݮƵ as one of theyear’sbiggest movers, moving upin the rankingsfrom 18thin 2020 to 14thin 2021.TheUniversity of ݮƵ, along withthe Region,MaRSDiscovery District andCommunitech, worked closely with Startup Genome to highlight Toronto-ݮƵ’s strengths.

According to the report,theis one of thefastest-growingand densest innovation clusters in the world and is home to 20 percent of Canada’s university students.The corridorhascreated $20.8 billion in economic value with $2.3 billion totalearly stagefunding over the lasttwoand a half years.

“This report is further evidence that a significant part of Canada’s economic future—and the way it is perceived around the world— is being powered and inspired by the Toronto-ݮƵ corridor,” said Vivek Goel, president and vice-chancellor of the University of ݮƵ. “A large part of what makes the ecosystem here so unique is the strength of ݮƵ Region’s post-secondary sector. Our world-class institutions continue to fuel innovation through important research and by attracting and educating top students, who go on to join the rich talent pool that powers ourstartups.” 

Programs and opportunities that foster innovation, entrepreneurship and tech-for-good are a primary focus at ݮƵ as theUniversityprioritizesdevelopingtalent for a complex and everchanging future.Successfulstartupsin the Toronto-ݮƵ corridor havebeen founded by ݮƵ alumni,including unicorn companies likeApply Board,FaireԻClearco, which all retain close ties to the University,such asemploying ݮƵ co-op students.

The report emphasizes the highly diverse and talented workforce in the area, stating that ݮƵ produces some of the top graduates for growth companies in AI, cybersecurity,healthand medical technologies and fintech.Many companiesalongthe corridorgot their startatVelocity, the University’s entrepreneurial incubator,whichrecentlyannounced its companies havesecuredmore than $2 billion in total funding, a 40 per cent increase raised by alumni and residents since 2019.

The report alsopoints outstrengths inthe areas ofAI, Big Data and Analytics as well as Life Sciences, all fields where ݮƵ researchers have made significant innovations, many of which are highlighted in our annualGlobal Impact Report.Advancing research in these areas for global,societaland economic impact remains a significant strategic goal forthe University.

The upcomingԲԴDZپDzԲ,which will launch in 2023at the University’s Health Sciences Campus, was also mentioned in the GSER report.Thepurpose of thearenaistoconnect researchers and emerging talent with community,businessand health partners to advance innovation and technology solutions and help drive Canada’s next wave of economic growth.