• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Techcouver.com

 
  • News
  • Events
  • Interviews
  • Thought Leadership
  • Web Summit Vancouver
  • Jobs
  • About
    • Contact Us

Vancouver Holds on to Second Place in Canada’s Startup Ecosystem Ranking

June 9, 2023 by Knowlton Thomas Leave a Comment

Four the fourth year in a row, Canada ranked fourth on StartupBlink’s Global Startup Ecosystem Index for 2023, behind Israel, the UK, and the US.

Within Canada, Toronto ranked as the top startup hub. Vancouver, whose startup ecosystem ranked 18th in North America, placed second in the nation.

Vancouver best watch out though—the city dropped one spot year-over-year, while rival Montreal gained one spot. Now the Quebec metropolis is just one spot behind the West Coast tech hub.

The city of Vancouver earned marks for its “energy and environment” sector, which ranked just one spot behind Toronto’s on the index.

“Considering the active approach by its efficient public sector to develop startup ecosystems, there is no reason Canada should no take an even more substantial role in producing massive global hubs,” the report states, such as Vancouver and Toronto.

The report describes a “promising climate for entrepreneurship” based on “attractive incentives” such as the Startup Visa Program, the Global Skills Strategy, and one of the world’s most educated workforces.

Some of the local startups highlighted in the report include NFT innovator Dapper Labs and blockchain pioneer LayerZero Labs.

Earlier this year, web3 messaging platform LayerZero closed a Series B round to the tune of US$120 million. The sizeable raise built on LayerZero’s US$135 million round co-led by Sequoia Capital, FTX Ventures, and Andreessen Horowitz in 2022.

LayerZero Labs was founded by Pellegrino, Zarick, and Caleb Banister in 2021. The startup’s protocol improves upon today’s common Web 2.0 messaging platforms by enabling different types of messages across blockchains.

Vancouver’s tech scene now employs 92,000, a figure which has nearly tripled since 2010.

Filed Under: News Tagged With: LayerZero Labs, StartupBlink

 

About Knowlton Thomas

Knowlton Thomas is Editor-in-Chief of The Midway Advance and Senior Writer for Techcouver. Over more than a decade of journalism, he has penned thousands of articles and dozens of essays on technology, health, and culture across a variety of publications.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

 

Stay Connected

  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • Twitter

Community Partners

About Us

Techcouver provides real-time reporting and analysis of emerging technology news in Vancouver and throughout British … READ MORE... about About Us

Copyright © 2025 Incubate Ventures | Techtalent.ca · Decoder.ca · Calgary.tech · Fintech.ca · CleanEnergy.ca | Privacy