Entrepreneurship has always existed at large in Canada and over the years it has gotten bigger and better. Ranked as the fourth-strongest start-up ecosystem globally, Canada shares the top spot along with United States, United Kingdom and Israel. CNBC reports suggest Canada is becoming a start-up Mecca and is all prepared to rival Silicon Valley for the good.
It’s just not today, from the earliest days Canada had some brilliant Entrepreneurs. It all started with the Aboriginal people trading among themselves which soon went a step further as the Europeans arrived. With the arrival of the Europeans, Canada found itself in the middle of a global fur trade which led to vast fortunes among the businessmen of the country.
One of the primary reasons for the business scene to grow in Canada is the dynamic and energetic mindset of the people. It’s a known fact that Canada has numerous ethnic neighbourhoods and the foreign individuals make up for a good portion of the number of inhabitants. Business flourished more than ever in Toronto thanks to the neighbourhoods like Little India, Chinatown and Little Jamaica.
But it is just not the foreign individuals that led to the growth of entrepreneurship in Canada. It is the Entrepreneurs from the country that made a huge difference to the entire business front. The country has produced numerous successful Entrepreneurs and much credit has to be given to their drive and intelligence. Some of the notable businessmen of Canada made the entire world take notice of their achievements.
Brendan Frey is one such name who launched Deep Genomics, a genetic medicine company in Toronto. Although the scenario was quite different a decade ago, in 2015 he realized the local environment has become more suitable and hospitable to upcoming startups. Through his company, he has been using artificial intelligence to discover rare genetic disorders. It is just not his achievements in the medicine field that led to the growth of Deep Genomics.
Canada has a very strong program that encourages tech-based companies to flourish in the country. The Scientific Research & Experimental Development Program of Canada helps Deep Genomics to pay every dollar spent in the research and development of their technology.
Toronto is the financial capital of Canada and also the home to world-leading research and development programs. The startup ecosystem in Toronto is growing at an exponential rate owing to the experienced venture capital firms. To the west of Toronto, a town called Waterloo has the second-highest density of start-ups in the world. Waterloo also has headquarters of Canada’s largest tech companies and in the Toronto-Waterloo belt, there is an estimated number of 2500 start-ups.
It is the Entrepreneurs of the country that led to this staggering number of startups. Every day newer and more innovative ideas are born in the startup mecca. As many as 5 companies from Canada made headlines in the 2019 CNBC Upstart 100 list. This includes the very famous Deep Genomics followed by Nobul, CMD, Reno, and Attabotics.
Mike Lazaridis is one such name that transformed the startup ecosystem of the country. Founder of Research in Motion Limited (R.I.M.), Lazaridis is the name behind the development of Blackberry. Considered one of the most successful technologists in Canada, he inspired numerous entrepreneurs to enter the startup world. Ever since dropping out of the University of Waterloo to pursue his dream of R.I.M., Lazaridis has only gotten better. He was also honoured as one of the top 100 most influential individuals in 2005 by Time Magazine along with being named the National Builder of the Year.
Another notable mention is John Molson. Regarded as one of Canada’s most successful entrepreneurs, Molson was born in England in 1763. He was the founder of Molson Brewery and he started his company at the age of 18 by borrowing funds from his grandmother.
Molson Brewery is Canada’s second-oldest registered business and John Molson is a popular face who inspired and influenced many new businessmen in the following days. His efforts and dedication made Molson Brewery the fifth-largest brewery in the world. He didn’t stop there. Following his success, he constructed the first distillery in Lower Canada and later used his funds to support local causes. From contributing to the construction of the first railway in Canada to funding the first theatre in Montreal, he is a name the entrepreneurs of the current age also look up to. Before dying in 1836, he also funded the first public healthcare facility in Canada.
The country has been instrumental in helping modern-day entrepreneurs become big. It is indeed a rich talent pool that is backed by a strong university system and immigration policies. Entrepreneurial activities not only boost and help the entrepreneurs but also benefit every Canadian at large. This leads to more innovation, productivity, job opportunities and overall economic growth.