More and more startup tech businesses are choosing to set up shop in Toronto, says Toronto Star’s  Business reporter Danna Flavelle (Twitter: @DanaFlavelle) in her article entitled Toronto tech: City is fourth best place in the world for a startup. According to a California based research organization, Startup Genome, Toronto is the fourth best ranked city for startups and tech related businesses, while New York City and London taking the lead.

Canadian serial entrepreneur Christian Lassonde is an excellent example of the growing scene in Toronto.  He has has recently come back home from the USA, to “bring some of that entrepreneurial spirit back to Toronto.” Christian is currently chief venture adviser at The Next 36 a UofT based initiative that chooses a total of 36 undergraduate students each summer to work on 9 tech and mobile apps companies.

I cannot but agree with Lassonde, when he says “It’s hard to start a business anywhere. There’s no question there’s a higher concentration of venture capitalists in Silicon Valley, but we have quite a few VCs here and it’s certainly not a barrier to starting a company in Toronto.”

We need to foster the entrepreneurial spirit of our city. It’s crucial to our economy, to continue to encourage startups and young entrepreneurs  to pursue new business ideas through mentorship and innovation. It is up to us, as a city to persuade others to invest in our future and that of young entrepreneurs who are ready to flourish.

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