Montreal has become a popular destination for startups, thanks to its thriving culture of innovation, creativity, and entrepreneurship. The city offers a vibrant lifestyle with scenic views and a bustling nightlife, alongside a highly skilled and talented workforce that can help drive a startup to success.
Over the past year, many startups have emerged in Montreal and all over Canada. Industries such as tech, AI, sustainability, and digital solutions have been particularly prominent and successful.
Why Is Montreal A Popular Place For Startups?
Montreal is a very attractive location for startups, largely due to the abundance of venture capital investment opportunities. Canada is home to four of the ten largest venture capital investors in the world.
The city also boasts a booming tech sector that supports startups in fields such as AI, digital solutions, and fintech.
Compared to other North American cities, Montreal offers a more favourable business environment in terms of operational costs—an essential factor for startups.
Another key factor is the strong government support available. In Montreal, there are numerous government-backed funding schemes, incubators, and tax incentives that provide crucial support for new businesses.
Montreal is also an appealing place to live, offering a high quality of life and increasing employment opportunities. This has made the city a magnet for global talent—something that can be incredibly beneficial for growing startups.
10 New Startups In Montreal, Canada
Here are 10 new Montreal-based startups that are positioning themselves for future success:
1. Eli Health
Founded in 2019, Eli Health is making waves in the healthcare industry, particularly in women’s health.
They are creating the first large-scale longitudinal dataset on daily hormone levels—one test at a time.
The startup recently unveiled a device called the Hormometer, which analyses two hormone levels using saliva samples.
Eli Health has performed well in terms of funding, ranking second overall in women’s health in Canada. They have raised over £5 million.
2. FeX Energy
FeX Energy was established in 2023 through a partnership between McGill University’s Alternative Fuels Lab and cleantech venture studio BXVentures. It is Canada’s first cleantech venture studio.
FeX Energy focuses on long-duration energy storage solutions that enable decarbonised energy. At the core of the company is its Arc Reactor, designed to disrupt fossil fuel dependency.
They are currently seeking to raise £2.3 million in a seed round to build their first pilot project and prepare for commercial deployment. The company aims to be a leader in Canada’s growing cleantech industry.
3. NeuraNest
NeuraNest, founded in 2023, is a healthcare startup focused on mental health.
What sets them apart is their use of AI to offer real-time mental health support via wearable devices and mobile apps.
Their goal is to reduce time spent on paperwork and processing, allowing a greater focus on providing AI-assisted, personalised treatment with clear, measurable outcomes.
With increasing demand for accessible and high-quality neurodivergent treatment, NeuraNest is well-positioned to make a major impact in the healthcare sector.
4. S3io
Founded in 2023, S3io is a biotechnology startup with a unique approach: they use AI and AR technologies to revolutionise surgical training.
Their aim is to create immersive learning environments for surgeons, helping to enhance knowledge, improve outcomes, and push the boundaries of surgical practice.
5. CAPSolar
CAPSolar is a cleantech startup based in Montreal, focusing on electric mobility.
They are working to revolutionise clean transportation through their innovative energy solutions. Their specialty is advanced solar technology designed for use in cars, trucks, smaller vehicles, and marine crafts.
These solar panels enhance vehicle efficiency, reduce reliance on charging stations, and harness clean energy directly from the sun.
Their latest upcoming product is a semi-transparent solar panel module for hybrid and electric cars, designed to be integrated into the roof and windows of the vehicle.
6. Depix
Depix is a creative tech startup focused on AI-powered image compositing.
They claim to significantly improve product and marketing design efficiency through integrated AI tools.
Depix helps clients overcome creative blocks, accelerate design workflows, reduce revision cycles, and maintain confidentiality in design processes.
7. Hippoc
Hippoc, a recently founded Montreal startup, specialises in AI for advertising optimisation.
It combines neuroscience and AI to predict how ads affect human perception, using a model that simulates how the brain processes stimuli.
Hippoc eliminates the high cost of traditional focus group testing and delivers instant insights into ad performance. The company has already worked with major brands such as Mazda and Nissan.
8. Trendigo
Trendigo is an event tech startup offering an all-in-one event management app.
Their app manages ticket sales, on-site payments, access control, and customer rewards—streamlining the entire event experience.
It stands out with its unique QR code payment system, a growing trend in mobile payment solutions. Trendigo is well-positioned to lead this niche market.
9. Basedash
Basedash is an IT startup that was founded in 2020, they focus primarily on converting databases into user-friendly apps.
What makes them unique is the fact that actions such as managing data operations, reading, writing, querying, editing, and deleting can all be created into a comprehensive app without the need for any coding.
The startup has managed to acquire funding of at least £3.3 million with their efforts still being in the seed funding status.
10. ENDVR.io
Founded in 2019, ENDVR.io is an IT startup with a digital platform designed to train staff to understand products and improve sales skills.
The platform helps companies educate, motivate, and reward their sales teams in a single, integrated system.
