Montréal’s economy is booming. And thanks to its pool of entrepreneurs, it is now home to an incredible ecosystem of start-ups. Over the last five years, start-up activity in the city has doubled. In fact, digital technology start-ups provide more than 8,000 direct jobs and contribute $700 million to our economy.
This data comes from the Montreal Startup Ecosystem Report published on November 10. The Chamber of Commerce of Metropolitan Montreal helped produce this report in order to show the potential of this ecosystem as well as its importance for Greater Montréal. Conducted by Credo, in collaboration with the OSMO Foundation and Startupfest, the study recommends ways to ensure the growth of this sector and steps to support the creation of more innovative companies.
Here are three recommendations to improve Montréal’s start-up ecosystem:
1. Increase exposure of Montréal students to the world of start-ups
Montréal’s higher education institutions are home to top talent. Having access to this talent is essential to the success of start-ups. We must therefore strengthen the collaboration between the start-up ecosystem and universities in order to help students and graduates seize opportunities available within these companies. This relationship will profit both parties.
2. Facilitate the attraction, integration, and retention of international talent
It is essential to facilitate the attraction and retention of international talent to Montréal’s labour market. Our companies’ competitiveness depends on their ability to fill their labour needs. By facilitating the integration of immigrants with compatible skills into our labour market, we will help businesses of all sizes grow.
3. Consolidate the place of large companies on the Montréal start-up scene
Large companies have a fundamental role to play in the growth of the start-up ecosystem because they are first choice clients and partners for these small innovative enterprises. Start-ups have a lot to offer by providing large companies with innovative products with high added value.
Join us at InnoBahn Ubisoft
The Chamber is actively involved in the growth of start-ups and provides them with adapted services. That’s why, in collaboration with Ubisoft, we launched InnoBahn Ubisoft, a new series of events in which start-ups try to stand out by coming up with a solution to a large company’s specific problem.
Don’t miss the 3rd edition of InnoBahn Ubisoft, which will be held on December 13.
See the event
Download the Montreal Startup Ecosystem Report