Want to start a tech company? According to UK-based business consultant Expert Market, you should move to Waterloo.
The firm recently surveyed 25 cities across Canada for a report called The Canadian Tech Startup Cities Index: Where to Launch Your Tech Business. They compared availability of tech talent, entrepreneurial spirit, venture capital, internet speeds and cost of living in the ranking.
"[Waterloo ranks] in the top 10 for every factor, with particularly strong scores in terms of the cost of living, the availability of venture capital funding and tech talent," says the Expert Market report.
According to CBRE, it’s also the second-fastest growing tech talent market in North America. This is thanks largely to the presence of the University of Waterloo, which is home to Canada’s top engineering program and the world’s largest collection of math and computer science talent. It’s also home to the world’s largest free startup incubator, Velocity.Waterloo has substantial cost advantages, not just over Canadian cities, but American tech hotbeds like Boston and San Francisco, too.
“For those of us who live in Waterloo, this news isn’t really a surprise,” says Sean Smith, Waterloo EDC’s Market Development Manager for California and a veteran of the local tech ecosystem. “This is a place where you can access talent, find a space and collaborate with other tech companies going through the same growing pains, all without breaking the bank.”
Want to know more about Waterloo’s tech community? You can find in-depth information and stories about successful tech startups here.