Toronto has emerged as a star among the world’s technology scene – a rise that’s poised to continue upward.
There are an endless number of reasons why Toronto will make a great home to the 2018 edition of DoceboInspire, but as a technology-centric company in our own right, Docebo shares The Six with an incredible collective of inspiring and exciting organizations that have established the city as a global technology hub growing at a relentless pace.
The city has emerged as a star among the world’s technology sector, and is poised to continue it’s rise and break out of as one of the world’s leading tech hubs over the next four years, according to KPMG’s latest Global Technology Innovation report. Toronto was the only Canadian city to be named among the top 15 cities, which included cities such as Shanghai, Tokyo, London and Berlin.
More than 4,000 active technology companies now call Toronto home, which created 22,500 new jobs from 2015 to 2016 – eclipsing tech hotbeds such as New York (5,370) and San Francisco (11.540) combined.
While the conversation may have different a few years ago, Toronto has grown nicely into a go-to global destination for innovation thanks to smart investments in artificial intelligence and financial technology, coupled with a diverse and highly-capable workforce, positioning the city as an emerging influence in Industry 4.0 – all factors that have driven Docebo’s drive to call the city home.
Additionally, global tech titans such as Uber, Google Brain, Deep Mind and Alphabet’s Sidewalk Labs have expanded their research capacity and directing their investment dollars to Toronto, tapping into the city’s multi-cultural and highly skilled workforce.
Technology companies that call Toronto home alongside Docebo include:
- WealthSimple (fintech)
- Maropost (marketing automation)
- Top Hat (education)
- Ritual (food delivery)
- EcoBee (home automation)
- RubiKloud (retail technology)
- StackAdapt (programmatic native advertising)
- UberFlip (cloud-based content platform)
How Did Toronto Get to Where it is Today?
Local talent runs deep in Toronto. The city’s diverse workforce of highly-skilled technology talent has become a major draw for companies of all sizes. Skilled workers are developing their skills at many of the city’s top-notch universities, such as the University of Toronto, Ryerson University and York University, where the number of technology-focused degrees grew by 35% from 2011 to 2015, including a 47% jump in computer engineering degrees.
In fact, the University of Toronto houses 10 startup accelerators alone. TheMaRS network works with more than 1,000 companies, employs more than 6,200 people, and has raised over $3.5 billion in capital.
The city’s (relative) affordability and competitive corporate tax structure are also luring companies. According to a CBRE study, Toronto was the second-cheapest place in which to operate, with an average $26 million in total costs, compared to $57 million for the Bay Area. Canada’s welcoming attitudes toward immigrant workers has also been a huge help for tech companies to attract top talent.
While wages are far lower than those in Silicon Valley, the average hourly wage of $32.19 for tech workers was 25% higher than other sectors ($25.66) in Toronto. The expectation among analysts, however, is that as Toronto’s tech talent scene continues to become more competitive, salaries will rise.
A Perfect Match
We might be biased, but we’re incredibly confident that Toronto will make a great host to DoceboInspire 2018. Outside of the city’s vibrant tech scene, there’s a lot to see – from the historic CN tower to the incredibly diverse restaurants and shopping on hip Queen West, or get a selfie in front of the colourful “TORONTO” sign at City Hall, there’s always a way to fill up any free time you might have while you’re in town.
We choose Toronto to host DoceboInspire because the city is part of our DNA. The city is, after all, home to our corporate headquarters. As a technology-driven organization, we’re dead set on developing innovations we need to disrupt the corporate learning space and give our customers and users the tools they need to maximize the performance of their L&D strategies.