Big news this week for Southern Ontario's startup scene: the
New York Times referred to the Waterloo corridor as
"Canada's Silicon Valley" in a DealBook article about how Canada is
becoming increasingly attractive for American businesses due to its
pool of relatively affordable talent and its weaker currency in
relation to the U.S. dollar. It's a common comparison (the
Globe and Mail published an excellent article
comparing the two areas last year) but it's an exciting one to
hear when it comes from DealBook's popular Morning
One big difference between the Silicon Valley scene and our
Canadian tech startup hubs is that the Southern Ontario startup
scene is urban – it's clustered in downtown areas. The
Toronto Star recently published an article co-authored by
Meric Gertler, a prominent scholar of economic geography and the
current President of the University of Toronto, and Ilse
Treurnicht, the CEO of the MaRS Discovery District, that
speaks to the changing "geography of innovation."
Compared to the suburban feel of the Silicon Valley startup
scene (think low-rise buildings with huge parking lots in Palo
Alto, Mountain View and San Jose), the trend in Canada is for
startups to cluster in eclectic downtown areas. Ontario startups,
say Gertler and Treurnicht, are heavily urbanized. Smart municipal
policymakers are capitalizing on this (like Toronto, who used their
vibrant downtown to successfully pitch Slack on moving to the
city, as recently covered in Startupsource).
Scholars like Gertler say that the urbanization of startups
helps fuel innovation. Successful founders know that success is
driven by interactions between people from different disciplines,
backgrounds and skill sets. An entrepreneur is much more likely to
find a new team member, meet a prospective investor or find a
retail partner if he or she is out and about in a bustling, dynamic
And, without a doubt, downtown is where the next generation of
knowledge workers want to live and work, with incubators and hubs
like MaRS and Ryerson's DMZ leading the way. So
DealBook's got a point – the Toronto-Waterloo corridor
feels like Silicon Valley in some ways – but as the
California tech companies moving into downtown San Francisco and
Oakland can attest, the urban experience makes a difference.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
Under the Income Tax Act, the Employment Insurance Act, and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions or GST.
Under the Income Tax Act, the Employment Insurance Act, the Canada Pension Plan Act and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions.
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).