{"id":19670,"date":"2016-02-22T16:03:03","date_gmt":"2016-02-22T21:03:03","guid":{"rendered":"https:\/\/www.wework.com\/creator\/?p=19670"},"modified":"2020-04-03T18:06:35","modified_gmt":"2020-04-03T22:06:35","slug":"startup-city-burgeoning-tech-companies-are-growing-in-montreal","status":"publish","type":"post","link":"https:\/\/www.wework.com\/ideas\/professional-development\/startup-city-burgeoning-tech-companies-are-growing-in-montreal","title":{"rendered":"Montreal\u2019s secret of success: It\u2019s young, diverse, and growing"},"content":{"rendered":"\n

Montreal is about to hit the big leagues. From the cluster of hip startups in the Mile End area to the crop of collaborative workspaces springing up around the city, from the university-run incubators to the ever-growing selection of networking events, it\u2019s definitely getting noticed.<\/p>\n\n\n\n

“If Montreal was a startup, it would be in its Series A,” says David Nault, principal at iNovia Partners<\/a>, a venture capital firm in the city. “We’re experiencing acceleration, but are still figuring things out.”<\/p>\n\n\n\n

For a startup, a Series A represents validation and growth. For a city, it means progress and expanding appeal. Montreal isn\u2019t Canada\u2019s biggest magnet for startup companies\u2014that honor still goes to the much larger city of Toronto\u2014but it\u2019s growing. The reason? A diverse community, an ample supply of students, and an infrastructure that encourages new companies.<\/p>\n\n\n\n

Philippe Telio, founder of Montreal\u2019s International Startup Festival<\/a>, says the growth has been phenomenal. Since the festival started in 2011, the number of participants has continued to expand.<\/p>\n\n\n\n

\u201cWhen we started, startups numbered in the hundreds. Now, in the thousands,\u201d says Telio. \u201cThe city has gained a lot of confidence in the last five years.\u201d<\/p>\n\n\n\n

This confidence has translated into a greater presence worldwide. Last year, Montreal cleared the threshold to become number 20 in the top 20 global startup ecosystems, a ranking compiled by Compass, a provider of software for startups and tech companies. According to Inc., Montreal is one of 16 startup hubs to watch<\/a> in 2016.<\/p>\n\n\n\n

\"Montreal\u2019s<\/a><\/figure>\n\n\n\n

It may be easy to point to the corporate tax credits and relative affordability of Montreal as reasons why startups have flourished in the city, but while these are certainly undeniable advantages, those who work within the ecosystem describe something much more vibrant and organic.<\/p>\n\n\n\n

\u201cWhat\u2019s unique about Montreal? The word that comes to mind is \u2018multi\u2019 \u2014 multicultural, multidisciplinary, multi-ethnic . . . I could go on,\u201d says Xavier-Henri Herv\u00e9, executive director of Concordia University\u2019s District 3 Innovation Center<\/a>, an incubator for startups in the city.<\/p>\n\n\n\n

Indeed, Montreal has always been a fusion of different influences \u2014 of French and English, European and Canadian, contemporary and traditional, all while epitomizing the cultural diversity that is the hallmark of Canadian cities.<\/p>\n\n\n\n

Put all this \u201cmulti-ness\u201d in a metropolitan area that is the second largest in Canada and the second in the world for number of students per capita, and what you get is golden conditions for breeding startups. McGill University is here, as is the University of Montreal.<\/p>\n\n\n\n

\u201cIn any startup system you need youth, and in Montreal, we have always had a young population with great knowledge and great skills,\u201d says Herv\u00e9.<\/p>\n\n\n\n

Their ideas and enthusiasm have fueled the system.<\/p>\n\n\n\n

“We’ve caught the startup bug,” says Matthew Bruna, the native Montreal founder of one-year-old studEtree<\/a>, a mobile used textbooks marketplace for students. “The kinds of startups you get are impacted by the city you are operating in, and in Montreal, the ideas come from all over the world.”<\/p>\n\n\n\n

But it’s clear that even as the ecosystem and the startups within it has developed, the common passion within the community here remains Montreal, the city itself. There is an ultimate, overarching goal \u2014 that of putting the city on the map and everyone is in on it.<\/p>\n\n\n\n

\"Montreal\u2019s<\/a><\/figure>\n\n\n\n

“Montreal is a passionate city. We really have this going for it,” says Philip Cutler, founder of GradeSlam<\/a>, a tutoring platform. “And when we are passionate, we don’t hold back.”<\/p>\n\n\n\n

\u201cPeople who would compete elsewhere work together here,\u201d says Telio, who uses the words cohesive, generous, and engaged to describe the city\u2019s startup ecosystem. \u201cRight now, we’re the perfect size \u2014 not too big, not too small \u2014 everyone knows each other and supports one another.\u201d<\/p>\n\n\n\n

No wonder the city has seen a sharp increase in the number of collaborative workspaces. WeWork is opening a new office in Place Ville Marie<\/a> in March. It\u2019s the company\u2019s first space in Canada.<\/p>\n\n\n\n

Insiders don\u2019t see the city replicating Silicon Valley. Rather, Montreal will have its own DNA, one that favors shared spaces, tight-knit networks, and open resources.<\/p>\n\n\n\n

\u201cWe are aiming for critical mass, in what I call beehives \u2014 of people, of resources, and of startups. It will create even more energy and momentum than what we have now,\u201d says Nault.<\/p>\n\n\n\n

\u201cThe importance of shared spaces and events is unequivocal. When you put smart, like-minded people together in a room, it will elevate the whole community,\u201d says Telio.<\/p>\n\n\n\n

Though whatever the final product of Montreal, the Startup City, will be, there\u2019s a sense that right now it is already the place to be \u2014 a city that is still discovering its own potential, and at the same time, full of ambition.<\/p>\n\n\n\n

Photo Credit: Lauren Kallen<\/p>\n","protected":false},"excerpt":{"rendered":"

Montreal is about to hit the big leagues. From the cluster of hip startups in the Mile End area to the crop of collaborative workspaces springing up around the city, from the university-run incubators to the ever-growing selection of networking events, it\u2019s definitely getting noticed. “If Montreal was a startup, it would be in its […]<\/p>\n","protected":false},"author":1607,"featured_media":19683,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[43902],"tags":[],"class_list":["post-19670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-professional-development"],"acf":[],"yoast_head":"\nMontreal\u2019s secret of success: It\u2019s young, diverse, and growing<\/title>\n<meta name=\"description\" content=\"Montreal is about to hit the big leagues. 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