Over the past 15 years, the Montréal startup ecosystem has gone through several major milestones, which have propelled the city into the highest ranks of startup ecosystems in the world.
We have decided to look back only 15 years, but we could have begun the history of our ecosystem with Montréal’s earliest innovations: the goalie mask in 1959, the Wonderbra in 1955, or even Archie, the first search engine in 1990. Today’s startup ecosystem is built on the efforts of inventors and pioneers, such as Centech which, in 1996, started its operations as the first incubator in Montréal.
Fifteen years is barely the age of maturity. Let’s revisit this history.
The technology sector bubble burst in the early 2000s which chilled investment and entrepreneurial activity in Montréal. Despite a slow return, it was around 2006 that Montréal saw a real recovery in the technology sector. Experienced entrepreneurs launched new private venture capital funds. Finally, institutional investors began to define their roles better to maximize their performance and their impact, in the midst of the global financial crisis.
Here are some highlights from this period:
The beginning of the decade marked the evolution of the Montréal technology ecosystem. The first actions initiated in the early 2000s to provide better support to startup growth took off. More actors in support and funding arrived in the Montréal startup ecosystem. Coaching and mentoring became components that contributed significantly to support the entrepreneurial community.
Here are some highlights from this period:
During this period, Montréal beat records in the international rankings, reaching the Startup Genome Top 20. This recognition came from record-setting venture capital financing. In addition, the acceleration offering for startups continued to multiply, extending into a wider variety of sectors. The supporting players deployed offers to reach more varied targets, particularly women and ethnocultural minorities.
Here are some highlights from this period:
Montréal support and funding actors consolidated their offering to startups by improving services to the least represented founders. The different levels of government gave more recognition to the economic potential of startups. Finally, despite the economic uncertainty related to the pandemic, Montréal set records in venture capital funding.
Here are some highlights from this period:
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