Boasting a consistently strong and stable economy, Canada has emerged as a global hotspot for startups, offering, among other things, plenty of government support and a thriving innovation ecosystem.
With world-class quality incubators and accelerators, entrepreneurs have access to mentorship funding and various different resources that help sustain and scale their businesses.
Regardless of the industry – whether it’s tech, clean energy, healthcare or fintech – startups in Canada benefit massively from the country’s supportive environment as well as access to a wealth of opportunities.
One of the major contributors to the success of Canadian startups is the growing number of accelerators and incubators.
The Canadian Economy and Startup Environment
Canada boasts a strong and stable economy, making it an attractive destination for both entrepreneurs and startups. With a high GDP, a skilled workforce and government policies that actively support innovation, the country provides fertile ground for new businesses to thrive.
Indeed, major cities like Vancouver, Toronto and Montreal are now being recognised as global startup hubs, offering new businesses access to venture capital, international markets and top-tier talent.
In addition, Canada’s immigration policies make it easier for entrepreneurs to establish businesses while government initiatives like tax incentives, grants and more encourage investment in sustainability, technology and other high-growth industries.
The Most Successful Industries and Types of Businesses in Canada
Canada excels in several key industries, making it a prime location for startups in technology, clean energy and healthcare. The country’s strong fintech and AI sector benefit a lot from a world-class research institutions and supportive regulatory.
Healthcare and biotech startups, for instance, thrive due to substantial investment from government as well as an ever-growing demand for innovative medical solutio.
The other thing is that Canada is home to an abundance of natural resources, and this has prove to be a great support for businesses in clean energy, mining and agriculture.
E-commerce, gaming and SaaS also perform well, fuelled by a tech-savvy population and increasing global demand. With a big focus on innovation and sustainability, Canadian businesses have a real competitive edge in global markets.
Top Incubators and Accelerators in Canada
Long with the country’s successful economy comes a thriving ecosystem of incubators and accelerators designed to help startups scale and succeed. These programmes provide startups with mentorship, networking, funding opportunities and access to investors, among other things.
Plenty of these initiatives r backed by government agencies, universities and venture capital firms which creates a strong network of support. In addition, sector-specific accelerators cater to industries like clan tech, AI and biotech.
With a good combination of private and government-funded incubators ad accelerators, Canada offers a really balanced and well-rounded ecosystem that fosters early stage growth, making it one of the best places in the world for startups not only to launch but also expand.
That being said, here are some of the top incubtors and acclertors in Canada.
Badhouse Ventures
Based in Vancouver, Badhoue Ventures is a venture capital firm that focuses on investing in early-stage startups. The company was founded in 2020, and their niche is technology. So far, the company has made 11 significant investments.
The accelerator provides a combination of mentorship, hands-on advice and access to co-working space. Working with young startups, Badhouse generally provides up to $100,000 capital investment and they stay involved from the earliest stages until companies are ready for market.
Expa
Expa is often referred to as Canada’s largest incubator due to the sheer size of available investments, ranging from $250,000 to $400,000 depending on the company in question.
Founded in Vancouver, Expa is now also operational in San Francisco, New York, London and Los Angeles.
As the provider of investment capital investment services, Expa provides seed, early startup and incubation investments, helping startups and newly formed companies to kick start their business from the very beginning.
Founder Institute
Operating in Vancouver, Montreal and Toronto, Founder Institute is a global accelerator that was originally founded in 2009.
With a focus on companies operating in food, hardware, e-commerce, media, telecommunications, tech and mobile industries, there’s Founder Institute covers quite a lot of ground. It also works across both B2B and B2B companies.
Creative Destruction Lab
Now operating in ten different locations across North America, Creative Destruction Lab (CDL) is a global accelerator that supports tech-based companies and helps them grow.
The accelerator is led and supported by a team of experienced founders and mentors that share their expertise with programme participants. The company helps guide startups to succeed within 16 different industries, including AI, climate, blockchain, healthcare and energy.
Innovate BC
Founded way back in 1978, Innovate BC is an accelerator and incubator combination that allows startups access to everything from funding and professional networking to mentorship and shared expertise.
The company runs to different accelerator programmes catering to startups at different points in their journeys. The first, the Venture Acceleration Programme (VAP), is more about allowing funders to raise and validate their businesses ideas, while the second, ScaleUp, is a bit more comprehensive.
ScaleUp is for companies who have at least compltd market fit and are ready to start dive into amping up product development, marketing sales – they’re ready to scale.
Spring
Based in Vancouver, Spring is an impact-focused startup accelerator and incubator. The company is renowned as a global partner that empowers the development of entrepreneurs, the general startup ecosystem and investment too.
So far, Sprig has worked with and assisted more than 750 entrepreneurs and 500 startups, having raised in excess of $24 million to date.
