{"id":7231,"date":"2018-08-01T17:53:07","date_gmt":"2018-08-01T21:53:07","guid":{"rendered":"https:\/\/blog.brainstation.io\/?p=7231"},"modified":"2021-01-29T09:25:08","modified_gmt":"2021-01-29T14:25:08","slug":"how-toronto-became-a-global-tech-leader-in-7-years","status":"publish","type":"post","link":"https:\/\/brainstation.io\/blog\/how-toronto-became-a-global-tech-leader-in-7-years","title":{"rendered":"How Toronto Became a Global Tech Leader (in 7 Years)"},"content":{"rendered":"\n

BrainStation has now been part of the Toronto tech community for seven years, and in that time, the city has grown into a legitimate tech hub with global aspirations \u2013 one only has to look at the shortlist for Amazon HQ2 for some compelling evidence. <\/span><\/p>\n\n\n\n

But how did it get here? To appreciate just how far Toronto has come, we\u2019ve taken a (not so brief) look back at some of the most important developments over the last seven years. <\/span><\/p>\n\n\n\n

2012 – Building Something<\/span><\/h2>\n\n\n\n

Mike McDerment, the CEO and co-founder of FreshBooks, a Toronto-based online accounting company, <\/span>said<\/span><\/a> that for Canadian tech companies, 2012 had been “the best year ever, absolutely phenomenal.” <\/span><\/p>\n\n\n\n

\"Mirvish
Credit: Mirvish Gehry toronto<\/figcaption><\/figure><\/div>\n\n\n\n
McDerment could be considered an authoritative voice on the subject; in 2006, he co-founded Mesh Conference, which provided a much-needed gathering place for Toronto\u2019s still nascent tech community. His view of 2012 might have been partly rose-colored \u2013 FreshBooks switched to cloud accounting, leading to one of their best months ever \u2013 but there was a sense that Toronto was growing into its \u201cCenter of the Universe\u201d nickname. It was also starting to look the part.<\/div>\n\n\n\n

According to the Council on Tall Buildings and Urban Habitat, Toronto led the Western world in high-rise construction, with 15 skyscraper projects, and more to come \u2013 some featuring an ambition that had previously eluded Toronto. In October, David Mirvish and architect Frank Gehry announced three 80-storey condo towers that would be like \u201csculptures for people.\u201d <\/span><\/p>\n\n\n\n

A large portion of the city\u2019s development projects were clustering around King and Spadina, which was also seeing new co-working spaces and start-up incubators, including <\/span>Driven<\/span><\/a> and <\/span>Garrison Health Technology Ventures<\/span><\/a>. <\/span><\/p>\n\n\n\n

Elsewhere, The Rotman School of Management launched <\/span>Creative Destruction<\/span><\/a>, a seed-stage program <\/span>that provides mentorship; capital; advice on technology roadmaps; and business development support.<\/span><\/p>\n\n\n\n

Similarly, <\/span>Hacking Health<\/span> hosted its first hackathons in 2012. The organization, which sought to increase collaboration between healthcare professionals and technology creators, had an accelerator program that offered up to $50,000 in funding.<\/span><\/p>\n\n\n\n

The Investment Accelerator Fund (IAF), meanwhile, awarded funding to <\/span>12 Ontario companies <\/span><\/a>that year, with eight based in Toronto. The IAF, which is funded by the Government of Ontario, provides up to $500k in seed funding to qualified emerging companies. <\/span><\/p>\n\n\n\n

On the funding front, <\/span>WattPad \u2013<\/span> an online community of readers and writers \u2013 announced it had <\/span>raised $17.3 million in USD in Series B funding<\/span><\/a>. <\/span>The funding round was led by Khosla Ventures of San Francisco, with partners Union Square Ventures of New York and Golden Venture Partners in Toronto. <\/span><\/p>\n\n\n\n

The fact that two top-tier US funds were investing in a Canadian-based consumer company was unusual, but there was good reason for the funds\u2019 optimism: At the time, Wattpad hosted over five million user-generated stories, and its users spent 1.7 billion minutes on the platform each month. <\/span><\/p>\n\n\n\n

“We see tremendous opportunity in this space and believe that Wattpad is fundamentally changing the way readers and writers are connecting, sharing stories and building audiences,” said Khosla Ventures partner Andrew Chung.<\/span><\/p>\n\n\n\n

\"Allen
Credit: StartUp HERE Toronto<\/figcaption><\/figure><\/div>\n\n\n\n

He wasn\u2019t alone in his praise. <\/span>PwC <\/span>awarded Wattpad<\/span><\/a> the 2012 Innovator of the Year Award, and The Canadian Innovation Exchange named it one of the year\u2019s <\/span>most innovative companies<\/span><\/a>.<\/span><\/p>\n\n\n\n

On the acquisition front, <\/span>Toronto-based <\/span>Kobo<\/span> (owned by Japanese e-commerce giant <\/span>Rakuten<\/span>), announced the acquisition of <\/span>Aquafadas<\/span>, which \u201chelps publishers produce digital content without knowing how to code.\u201d<\/span> The U.S.-based Ceridian Corp., meanwhile, acquired Dayforce Corp, a workforce management software firm for an undisclosed amount. <\/span><\/p>\n\n\n\n

And perhaps most notably, California-based <\/span>Oracle acquired the Toronto-based Eloqua<\/span><\/a>, a marketing automation platform, for a whopping $871 million. Eloqua had gone public just a year earlier. <\/span><\/p>\n\n\n\n

All of this was <\/span>starting to be noticeable to the outside world \u2013 <\/span>Compass\u2019 Global Startup Ecosystem Ranking had Toronto at<\/span> number 8<\/span><\/a> in 2012. <\/span>At the same time, the inspiration for BrainStation took root. <\/span><\/p>\n\n\n\n

\u201cIt was apparent that there was no such thing as a technology industry anymore. <\/span>Every <\/span><\/i>company was becoming a tech company, and it was clear that those with digital skills were going to be positioned to take advantage of the opportunities ahead,\u201d Jason Field, BrainStation Founder and CEO told Techvibes. <\/span><\/p>\n\n\n\n

\u201cThe problem was, there were no institutions that provided hands-on digital skills training that could keep up, so we wanted to build something that would let professionals realize their potential. This is where the idea for BrainStation came about.\u201d<\/span><\/p>\n\n\n\n

2013 –  Agile Learning<\/span><\/h2>\n\n\n\n

BrainStation\u2019s first steps into the world of digital skills training began with a workshop in a co-working space above <\/span>The Hoxton.<\/span> Demand was such, though, that BrainStation would host four more workshops within a month. This persuaded Field to recruit <\/span>a team of web and mobile development instructors, and start developing the company\u2019s own curriculum. <\/span><\/p>\n\n\n\n

\u201cThe Minimum Viable Product approach was being used in software, but we wanted to apply it to learning. We called it \u201cAgile Learning,\u201d and with that, we ran workshops for non-technical professionals, making changes on the fly,\u201d Field told Techvibes. <\/span><\/p>\n\n\n\n

This enterprising spirit seemed to run through Toronto at the time; the city <\/span>remained <\/span>atop the rankings of North America\u2019s high-rise construction, with an astounding 130 projects. Among them were plans for a redevelopment of the Toronto Star building. <\/span>Pinnacle International<\/span><\/a> had bought the site in 2012 and hired the renowned Toronto-based <\/span>Hariri Pontarini Architects<\/span><\/a> to prepare a concept for five new towers, the tallest of which would be 98 storeys.<\/span><\/p>\n\n\n\n

\"Pinnacle
Credit: Urban Toronto<\/figcaption><\/figure><\/div>\n\n\n\n

This development was not happening in a vacuum. Toronto was now the fourth largest city in North America, and growing at an annual rate of 38,000 people. To handle this, City Council <\/span>endorsed a new economic growth plan<\/span><\/a>, which set targets to improve job quality, and harmonize city policies for business and investment.  <\/span><\/p>\n\n\n\n

\u201cWe have taken significant steps forward in 2011 and 2012, and we expect our new growth plan to increase the momentum,\u201d said Councillor Michael Thompson, Chair of the City\u2019s Economic Development Committee.<\/span><\/p>\n\n\n\n

In April, Twitter announced it would be opening an office in Toronto, with Kirstine Stewart, the former head of CBC\u2019s English services, leading its Canadian operations. At the time, <\/span>her hiring had some suspecting<\/span><\/a> a move into content creation. Officially, however, the focus was on building advertising and corporate partnerships. <\/span><\/p>\n\n\n\n

Towards the end of the summer, 500px <\/span>announced<\/span><\/a> $8.8 million in Series A funding, led by Andreessen Horowitz and Harrison Metal. The photo sharing service intended to use the funding to triple their 25-person team, and start a premium online marketplace for stock photos. <\/span><\/p>\n\n\n\n

The same month, Interaxon successfully raised $6,000,000 in a Series A funding. Interaxon developed the Muse, a headband that translates brainwaves into digital signals, allowing users to control things with their minds. This sci-fi-esque product had already won over crowdfunding site indiegogo, where it raised $287,677. Now it was being backed by Horizon Ventures, OMERS Ventures, <\/span>A-Grade Investments<\/span><\/a>, ff Venture Capital, Felicis Ventures, and Bridge Builders Collaborative.<\/span><\/p>\n\n\n\n

\u201cWe were drawn to InteraXon for their engaging applications, domain expertise, and thought leadership in their market space,\u201d <\/span>said George Babu,<\/span><\/a> Director at OMERS Ventures.<\/span><\/p>\n\n\n\n

This was not the only Toronto-based company getting attention. In November, Shopify acquired <\/span>Jet Cooper<\/span><\/a>, a user experience and design firm, for an undisclosed sum.<\/span><\/p>\n\n\n\n

Two years earlier, Jet Cooper founders <\/span>Satish Kanwar and Verne Ho<\/span> launched the Design in Residence program with Montreal\u2019s <\/span>FounderFuel<\/span>, Waterloo\u2019s <\/span>VeloCity, <\/span>and Toronto\u2019s <\/span>MaRS Commons<\/span><\/a>. The program provided early stage companies with user experience design mentorship. Now, they would be sharing their expertise with one of Canada\u2019s fastest-growing companies.<\/span><\/p>\n\n\n\n

\"Tobias
Credit: Shopify<\/figcaption><\/figure><\/div>\n\n\n\n

\u201cWe could never find quite enough designers,\u201d Tobias L\u00fctke, Shopify\u2019s Co-Founder and Chief Executive <\/span>told the Financial Post<\/span><\/a>, explaining how Jet Cooper would allow every e-commerce shop to look \u201clike it was custom built by an expensive design firm.\u201d<\/span><\/p>\n\n\n\n

Around the same time, the <\/span>Canadian Digital Media Network<\/span><\/a> (CDMN) held their annual digital media forum in Toronto \u2013 the first time the conference had been in the city in its five-year history. <\/span><\/p>\n\n\n\n

\u201cStaging CDMN in downtown Toronto will…put us at the heart of Canada\u2019s largest city. where there is a concentration of \u2018digital natives\u2019 who want to…influence the future of digital media,\u201d <\/span>said Kevin Tuer<\/span><\/a>, CDMN Managing Director.<\/span><\/p>\n\n\n\n

In December, Dr. Joshua Landy, Richard Penner, and <\/span>Gregory Levey<\/span> launched Figure 1, an online social networking service for healthcare professionals that has been dubbed \u201cInstagram for Medicine.\u201d<\/span><\/p>\n\n\n\n

The company launched with $2 million (CDN) in seed money, with Rho Canada Ventures and Version One Ventures leading the investment. Despite criticism of \u201cgross\u201d and \u201cgruesome\u201d content, Figure 1 is now used by more than two million healthcare professionals.<\/span><\/p>\n\n\n\n

2014 – A New Home<\/span><\/h2>\n\n\n\n

In 2014, BrainStation continued to develop part-time courses for working professionals, and demand surged, forcing the company to find new flex campuses across Toronto. This, however, was only temporary.<\/span><\/p>\n\n\n\n

In November, Konrad Group acquired BrainStation, with the aim of accelerating growth and expansion.<\/span><\/p>\n\n\n\n

\u201cIt instantly pushed us to the next level, allowing us to hire managerial, educational, and technical staff across North America,\u201d Field said. The company also moved into Konrad Group\u2019s national headquarters at 445 King Street West. <\/span><\/p>\n\n\n\n

Right around the corner, Decentral opened a 5,500-square-foot innovation hub for \u201cdisruptive and decentralized technologies,\u201d namely fintech, blockchain, and cryptocurrencies. Decentral was home to Canada\u2019s first two-way Bitcoin ATM, and it organized the Bitcoin Expo 2014, which was, at the time, the biggest cryptocurrency event in Canada.<\/span><\/p>\n\n\n\n

\"Vitalik
Credit: Ethereum World News<\/figcaption><\/figure><\/div>\n\n\n\n

Fittingly, the Thiel Fellowship and the World Technology Award for 2014 was awarded to a Toronto native: Vitalik Buterin, the co-creator of Ethereum and Bitcoin Magazine. The 20-year-old, who received $100,000, beat applicants that included representatives from 44 countries and every US state.
<\/span><\/p>\n\n\n\n

2014 gave us the first-ever Toronto Tech Summit, which brought together some of the city\u2019s most forward-thinking tech innovators. Toronto also hosted <\/span>WEST<\/span>, North America’s first Wearable Tech & Entertainment conference, which would soon be complemented by <\/span>We Are Wearables<\/span> (WWTO), a monthly meetup held at the MaRS Discovery District. Wearable tech also played a role on the runway, as it was featured prominently at the city\u2019s first<\/span> Startup Fashion Week<\/span>.<\/span><\/a><\/p>\n\n\n\n

On the startup front, <\/span>The Founder Institute<\/span><\/a>, the world\u2019s largest startup accelerator with over 1,100 graduate companies, also announced the launch of its first chapter in Toronto.<\/span><\/p>\n\n\n\n

\"Adeo
Credit: Founder Institute<\/figcaption><\/figure><\/div>\n\n\n\n

\u201cIt is long overdue that we launch a chapter in Toronto, which is truly one of the best places in North America to launch a technology company,\u201d said Adeo Ressi, Founder Institute CEO and Founder.<\/span><\/p>\n\n\n\n

#paid, <\/span>a platform that matches marketers with content creators, provided a case in point. Founded in 2014. The company joined <\/span>the accelerator program at <\/span>Ryerson DMZ<\/span><\/a>, and ended up signing clients like Audi, Toyota, Microsoft, and Airbnb.<\/span><\/p>\n\n\n\n

Elsewhere, Toronto-based <\/span>Scribble Technologies Inc.<\/span>, announced the acquisition of content engineering platform <\/span>CoveritLive<\/span><\/a>. CoveritLive’s engineering team had already based out of Toronto, and could now be integrated with existing staff.<\/span><\/p>\n\n\n\n

Meanwhile, DataWind Inc., the maker of UbiSlate tablet computers, raised $30 million through an initial public offering (IPO) on the Toronto Stock Exchange. DataWind was also named one of 2014\u2019s 50 Smartest Companies in MIT Technology Review\u2019s annual list of innovative tech companies.<\/span><\/p>\n\n\n\n

Not to be outdone, Wattpad raised $46 million of Series C funding, led by OMERS Ventures, but also including August Capital, Raine Ventures, and Northleaf Venture Catalyst Fund.<\/span><\/p>\n\n\n\n

CEO and founder Allen Lau <\/span>told Techcrunch<\/span><\/a> that the focus was on hiring in Toronto, which he felt was uniquely positioned to help the company\u2019s international expansion. TechCrunch pointed out that \u201cToronto offers an extremely diverse and multilingual talent pool to draw from to make that happen.\u201d <\/span><\/p>\n\n\n\n

If focusing on Toronto might have once seemed like a sign of limited intent on the part of a growing company, this kind of thinking was on the way out. After all, the city continued to grow at an astounding rate, which some took to calling a kind of \u201cManhattanization.\u201d It was hard to fault that moniker, particularly after a two-day span where <\/span>city council approved 18 new buildings<\/span><\/a> downtown, including three office towers. This worked out to 755 additional storeys, or 6,887 units, which were to be added to the 70,000 units already under construction across the city.<\/span><\/p>\n\n\n\n

\u201cDowntown Toronto is growing four times faster than the rest of the city and has a quarter of all of the office development in Canada,\u201d said then Chief Planner Jennifer Keesmaat.<\/span><\/p>\n\n\n\n

The funny thing was, there was more to come.<\/span><\/p>\n\n\n\n

2015: A Breakthrough Year<\/span><\/h2>\n\n\n\n

2015 was the year of what many call the biggest moment for Toronto\u2019s tech scene in recent memory: Shopify raised a whopping $131-million in its initial public offering on the New York and Toronto stock exchanges. The Ottawa- and Toronto-based company was the first tech IPO to debut in Toronto since DataWind\u2019s deal the year before.<\/span><\/p>\n\n\n\n

\"Daniel
Credit: Startup Here Toronto<\/figcaption><\/figure><\/div>\n\n\n\n

“With an IPO and a liquidity event, you have a new generation of angel investors, product managers, software developers, engineers, that have been brought up by that company that can then start promoting and fostering new ideas and concepts and businesses and the ecosystem in the city,\u201d said Daniel Mulet, the associate director for the Creative Destruction Lab at the University of Toronto.<\/span><\/p>\n\n\n\n

“With an IPO and a liquidity event, you have a new generation of angel investors, product managers, software developers, engineers, that have been brought up by that company that can then start promoting and fostering new ideas and concepts and businesses and the ecosystem in the city,\u201d said Mulet, the associate director for the Creative Destruction Lab at the University of Toronto.<\/span><\/p>\n\n\n\n

There were other highlights too, with social media giant Twitter moving into a Toronto office on King West. The office was a north-of-the-border headquarters the American company now calls a \u201cdestination for the biggest names and best talent in the country.\u201d<\/span><\/p>\n\n\n\n

2015 saw a big acquisition \u2014 mobile payments company Square acquired Toronto-based <\/span>Kili Technology<\/span>. Kili would remain in Toronto, and serve as the second Canadian office for <\/span>Square<\/a> (the first was in Waterloo).<\/span><\/p>\n\n\n\n

The year, however, was marked by a number of upstarts. In all, seven Toronto-based companies made the year\u2019s Canadian Innovation Exchange List of innovative tech companies: ThinkData Works, Synbiota, Statflo, Rubikloud, Q4 Web Systems, Plooto, and Aislelabs.<\/span><\/p>\n\n\n\n

To keep this growth going, the city launched the Startup EcoSystem Strategy to establish Ontario\u2019s capital as a global leader in business growth and set the \u201cambitious vision of making Toronto the startup capital of the world.\u201d
<\/span><\/p>\n\n\n\n

\u201cToronto is a dynamic, global city that has cultivated an internationally recognized startup ecosystem,\u201d reads the strategy report. \u201cRanking 8th worldwide, Toronto\u2019s startup ecosystem is home to some of the most cutting-edge early-stage companies in the world.\u201d<\/span><\/p>\n\n\n\n

The city would soon also be home to The One, a proposed tower at the intersection of Yonge and Bloor Street, that once constructed, will be Canada\u2019s tallest building (apart from the CN Tower). <\/span>The project features 72 levels of apartments on top of an eight-level luxury shopping mall.<\/span><\/p>\n\n\n\n

\u201cThis is for global retailers,\u201d developer Sam Mizrahi told the Globe and Mail, \u201cwho haven\u2019t been able to bring their vision to Toronto because the space they need doesn\u2019t exist.\u201d<\/span><\/p>\n\n\n\n

BrainStation faced a similar problem in 2015. <\/span>Just six months after first offering part-time courses in the Konrad Group offices, BrainStation was now bursting at the seams. The solution was to open its own downtown campus, a 20,000 square-foot space at 460 King Street West.<\/span><\/p>\n\n\n\n

\"BrainStation<\/figure><\/div>\n\n\n\n

<\/span><\/p>\n\n\n\n

Originally a hotel in 1873, the heritage building had an interesting past, including stints as The Spadina Hotel and Global Backpackers Village hostel. To give it a new lease on life, BrainStation turned to Reflect Architecture and designers MAAST, who created bright, cutting-edge classrooms and event spaces, while still retaining the building\u2019s character. <\/span><\/p>\n\n\n\n

\"BrainStation<\/figure><\/div>\n\n\n\n

The building features <\/span>a flex community space that houses Quantum Coffee (a sibling company to BrainStation in the Konrad Group), and over 50 industry events<\/a> per month.<\/p>\n\n\n\n

\u201cAll told, between Quantum Coffee patrons and BrainStation learners, tens of thousands of individuals enter our campuses on a monthly basis,\u201d Field recently told Techvibes.<\/p>\n\n\n\n

\"Quantum<\/figure><\/div>\n\n\n\n

\u201cWe wanted to provide the very best possible learning experience, and this meant creating a space that people would love, which I think we achieved \u2013 it\u2019s hard to get our students out of the classroom.\u201d<\/span><\/p>\n\n\n\n

\"BrainStation<\/figure><\/div>\n\n\n\n

2016: A Blossom State<\/span><\/h2>\n\n\n\n

By 2016, Toronto\u2019s tech scene was in a \u201cblossom state,\u201d according to the Globe and Mail\u2019s Shane Dingman.<\/span><\/p>\n\n\n\n

\u201cThe Canadian unicorns \u2013 Shopify, Kik, Hootsuite and D2L \u2013 have satellite offices in Toronto, as do U.S. giants IBM, Apple, Google, Facebook and Twitter,\u201d he wrote. \u201cBut some of Toronto’s largest homegrown startup employers are not household names in the city. In a business community defined by Bay Street, even fast-growing tech companies such as FreshBooks, Wattpad and Influitive can find it hard to stand out.\u201d<\/span><\/p>\n\n\n\n

Despite the growing pains, the seeds being planted really began to sprout with the arrival of big players, and some notable investments and acquisitions.<\/span><\/p>\n\n\n\n

In March 2016, Fortune published a big exclusive: Messaging startup Snapchat had agreed to acquire Bitstrips, the Toronto-based maker of \u201cbitmojis\u201d \u2014 which wound up leading to a more than $100 million purchase. <\/span><\/p>\n\n\n\n

On the funding front, Vena Solutions, a cloud-based corporate performance management software provider, led the way, raising $30 million. Funding was led by <\/span>Centana Growth Partners<\/span><\/a>, a growth equity firm that specializes in high-growth financial services firms.<\/span><\/p>\n\n\n\n

Chefs Plate, a subscription service that delivers recipes and fresh ingredients, <\/span>announced $6 million in new funding<\/span><\/a>. This round was led by <\/span>Acton Capital Partners<\/span>, although existing investors Emil Capital and <\/span>BrandProject<\/span> also participated.<\/span><\/p>\n\n\n\n

FlashStock, which provides custom footage and photos for brands, <\/span>raised $1.5 million<\/span><\/a> in funding from angel investors. Up to that point, the startup \u2013 which counted 40 percent of Fortune 500 companies as clients \u2013 had already raised $3 million, with investment from Bill Campbell, former CEO of Citigroup and Operating Partner of Vedanta Capital, and Chris Burggraeve, former CMO of AB InBev. <\/span><\/p>\n\n\n\n

Meanwhile, Bayer AG and Versant Ventures dedicated nearly $300 million to launching stem cell company BlueRock Therapeutics \u2014 which included an R&D centre in Toronto. The announce, and investment, represented one of the largest-ever series A financings for a biotech company.<\/span><\/p>\n\n\n\n

\"Slack
Credit: Toronto Life<\/figcaption><\/figure><\/div>\n\n\n\n

The year was also marked by some headline-making arrivals. First, cloud-based collaboration company <\/span>Slack announced plans <\/span><\/a>to open a Toronto satellite office on John Street.<\/span><\/p>\n\n\n\n

\u201cWe looked at a number of potential locations, but Toronto stood out for several reasons: it is home to a vibrant and diverse community of educated people, it has competitive business costs, and it\u2019s a great place to live and work. We are excited to be part of this innovative community,\u201d said Ali Rayl, director of customer experience at Slack.<\/span><\/p>\n\n\n\n

\"Ali
Credit: Irish Tech News<\/figcaption><\/figure><\/div>\n\n\n\n

General Motors of Canada Ltd., meanwhile, purchased a site on the eastern edge of downtown to establish a Canadian head office for its Cadillac division. The \u201cToronto GM Mobility Campus\u201d  will also serve as head office for its Maven car-sharing service, and act as a sales and service centre for electric vehicles and e-bikes. <\/span><\/p>\n\n\n\n

Thomson Reuters, meanwhile, announced plans for a new technology centre in downtown Toronto, which would create 400 jobs to start, and up to 1,500 in the future.<\/span><\/p>\n\n\n\n

\"Thomson
Credit: IT in Canada<\/figcaption><\/figure><\/div>\n\n\n\n

All of this growth meant an increased demand for digital skills training. To meet this demand, BrainStation continued to develop new courses and curriculum, with over 500 hours of new digital skills content. <\/span><\/p>\n\n\n\n

By that point, BrainStation had empowered over 25,000 people with new digital skills, including corporations like Telus, AOL, and PayPal. <\/span><\/p>\n\n\n\n

2017: Transformative moments<\/span><\/h2>\n\n\n\n

When Waterfront Toronto announced that Alphabet\u2019s Sidewalk Labs had landed the bid to help develop a new waterfront community in 2017, it marked a transformative moment in the Toronto tech industry \u2014 not just because a Google-affiliated player came on the scene, but because the partnership will physically change the face of the city.<\/span><\/p>\n\n\n\n

\"Sidewalk
Credit: Sidewalk Labs<\/figcaption><\/figure><\/div>\n\n\n\n

And that was just the most visible piece of an ongoing trend last year. Ridesharing app Lyft also announced Toronto would become its first international market, while Nissan\u2019s upscale auto brand Infiniti chose to put down startup roots in Canada with a new accelerator. There was also a notable acquisition, with Shutterstock buying Toronto-based Flashstock for $65 million.<\/p>\n\n\n\n

\"Sean
Credit: Brookfield Institute<\/figcaption><\/figure><\/div>\n\n\n\n

\u201cWe’ve seen many of the large players \u2014 Amazon, Google, Apple, Microsoft, the global players \u2014 invest significantly in Toronto-based operations, opening up R&D centres,\u201d said <\/span>Sean Mullin, <\/span>executive director of the Brookfield Institute for innovation and entrepreneurship at Ryerson University.<\/span> \u201cIt’s not a one-off. It’s a pattern where large companies are increasingly seeing the need to invest in technology as a means of staying competitive [and] coming to Toronto.\u201d<\/span><\/p>\n\n\n\n

The transformation didn\u2019t just come from outside; made-in-Canada initiatives also made waves in 2017, particularly in the realm of deep learning, with Forbes magazine stating that an AI revolution was underway and \u201chappening in Canada.\u201d<\/span><\/p>\n\n\n\n

The Vector Institute at the University of Toronto was announced that year, with a goal of producing more deep learning grads than any other institution in the world \u2014 and backed by more than $180 million in funding from both the federal government and corporate investors.<\/span><\/p>\n\n\n\n

\u201cA new wave of deep learning technologies are being commoditized,\u201d said Mulet.<\/span><\/p>\n\n\n\n

The tech push came from the provincial and municipal governments as well, who jointly announced the launch of a grant program (the <\/span>Starter Company Plus<\/span><\/a> \u2014 Digital Main Street Program) to help small Toronto businesses adopt digital technologies. The program will provide main street businesses, located in any of Toronto\u2019s 82 Business Improvement Areas, with grants ranging from $2,500 to $5,000.<\/span><\/p>\n\n\n\n

\u201cWorking to ensure Toronto\u2019s small business community is embracing the latest in technology in order to grow their businesses is one way we are supporting the health of Toronto\u2019s neighbourhoods,\u201d said Chris Rickett, manager of entrepreneurship services at the City of Toronto. <\/span><\/p>\n\n\n\n

With this kind of digital transformation in full swing, BrainStation created a suite of corporate training options, welcoming employees and private sessions from companies like RBC, Indigo, LCBO, Google, and Canadian Tire, to name but a few.<\/span><\/p>\n\n\n\n

\"\"
Credit: Top Hat<\/figcaption><\/figure><\/div>\n\n\n\n

2017 was also noteworthy for companies expanding, or moving to Toronto: Top Hat, which creates cloud-based teaching platforms, moved its head office downtown, while OneEleven, which helps commercialize startups, opened a space on Front Street. Waterloo-based company Sortable, an ad optimization platform, announced it was opening a satellite office in Toronto as well, while the aforementioned BlueRock Therapeutics expanded with a new R&D hub at MaRS Discovery District.<\/span><\/p>\n\n\n\n

“The tech ecosystem in Toronto has grown incredibly over the past five to 10 years. For example, just here at Top Hat, we’ve raised almost $50 million from leading venture capital firms, and had to go on a massive hiring spree to keep up with the demand and the need for innovation in higher education,” said Mike Silagadze, Founder and CEO of Top Hat.<\/p>\n\n\n\n

All of this culminated in Toronto being named North America\u2019s fastest growing tech market by real estate research firm CBRE\u2019s annual tech talent report. The city landed the top spot largely thanks to its rapidly growing employment base, which jumped by 22,500 tech jobs between 2015 and 2016, according to the firm. <\/span><\/p>\n\n\n\n

Fittingly, in October, Toronto Global (a not-for-profit organization) submitted the Toronto region\u2019s<\/span> proposal for Amazon HQ2<\/span><\/a>, which highlights the city\u2019s talent pipeline, diverse labour force, quality of life, competitive business climate, and world-class companies (including Vector Institute, Thomson Reuters, Uber, General Motors, and more).<\/span><\/p>\n\n\n\n

\"Amazon
Credit: Glassdoor<\/figcaption><\/figure><\/div>\n\n\n\n

2018: Opening up the Possibilities <\/span><\/h2>\n\n\n\n

2018 has been an important year for BrainStation, and it\u2019s only half over. In May, we launched <\/span>Data Science Full-Time program,<\/span><\/a> the first full-time data science diploma program of its kind in Canada. We\u2019re also launching own learning platform in 2018. Dubbed \u201cSynapse,\u201d the platform was built in-house, and it allows students to attend live lectures, interact with classmates and instructors, complete lessons, and access additional training resources \u2013 from anywhere in the world.  <\/span><\/p>\n\n\n\n

\u201cThe power and versatility of our platform really opens up the possibilities. It\u2019s another way for us to put the client at the center of the best possible learning experience,\u201d Field said. <\/span>BrainStation wasn\u2019t the only one thinking big, though, as the last six years have culminated in a banner year for Toronto\u2019s tech scene. <\/span><\/p>\n\n\n\n

According to a <\/span>new report by CBRE Group<\/span><\/a>, Toronto added a 82,100 technology-related jobs between 2012 and 2017, which is more than any other North American city. In all, more than 240,000 workers now comprise Toronto\u2019s tech talent pool, which is a more than 50 per cent increase since 2012. This makes Toronto the fourth-ranked tech talent market in North America in CBRE\u2019s analysis, behind only the Bay Area, Seattle and Washington, D.C.<\/span><\/p>\n\n\n\n

The city also made the top 10 on a ranking of global cities “that have the future-proofing capacity for longer-term success\u201d and was deemed one of the world\u2019s leading technology innovation hubs according to KPMG\u2019s latest Global Innovation Report. <\/span><\/p>\n\n\n\n

\u201cThere’s certainly been a feeling, and evidence, that the last couple of years we’ve reached somewhat of an inflection point in the Toronto tech scene, that a lot of good work over a couple of decades developing this capacity has really started to pay off,\u201d said Mullin.   <\/span><\/p>\n\n\n\n

That energy is drawing industry movers and shakers to the city in droves, from platforms like Lyft\u2019s carpooling service to notable events. <\/span><\/p>\n\n\n\n

\"Collision
Credit: Collision Conference<\/figcaption><\/figure><\/div>\n\n\n\n

Collision Conference \u2014 one of North America\u2019s largest startup conferences, which has never before left the United States \u2014 announced it would be making this city the host the next year, meaning Fortune 500 companies, change-making startup companies and top-tier speakers will all be touching down in Toronto.<\/span><\/p>\n\n\n\n

#<\/span>movethedial<\/span><\/a>, an organization aiming to advance more women into leadership roles in tech, is also hosting their first-ever Global Summit in Toronto this November, while The Wing \u2014 a New York-based co-working and social space for women \u2014 announced the city would be its first expansion into Canada.<\/span><\/p>\n\n\n\n

While the industry as a whole booms, certain Toronto-based companies also made waves this year. With cannabis legalization on the horizon, Toronto-based vape manufacturer Green Tank Technologies<\/a> raised a $4.3 million seed round from Toronto-based Green Acre Capital and Snoop Dogg\u2019s venture capital firm Casa Verde. Meanwhile Rubikloud, a Toronto-based AI company, raised nearly $50 million Series B funding, and home automation company Ecobee raised roughly the same in Series C funding.<\/div>\n\n\n\n
\n
\n

TouchBistro<\/a>, an iPad POS built to streamline restaurant operations, announced that it had raised $72 million<\/span> in Series D financing. The round was led by OMERS Ventures and JPMorgan Chase, with participation from Napier Park Financial Partners, Recruit Holdings Co, Ltd, BDC IT Venture Fund, and Relay Ventures. This round brought TouchBistro’s total funding to date $117 million (CAD)<\/span>.<\/p>\n<\/div>\n<\/div>\n\n\n\n

\n
\n

Other local companies were bought by big names \u2014 the augmented reality beauty company ModiFace by L\u2019Oreal, VPN company TunnelBear by McAfee, and 500px<\/a>, by Visual China Group, a public image licensing company based in Beijing.<\/p>\n<\/div>\n<\/div>\n\n\n\n

With so much happening, \u201cit’s a bit of a perfect storm,\u201d said Krista Jones, managing director of enterprise at MaRS Discovery District, who has spent the last decade experiencing Toronto\u2019s tech growth.<\/p>\n\n\n\n

The industry\u2019s expansion, coupled with the city\u2019s diversity, has made the tech scene here a hot spot \u2014 not just to Torontonians, but to everyone else. “You’re starting to see a pull from the global world in, where we used to have to push out,\u201d Jones said.<\/div>\n\n\n\n
\"Krista
Credit: CBC<\/figcaption><\/figure><\/div>\n\n\n\n

It\u2019s no surprise, then, that Toronto is the only non-U.S. city to make the short list for Amazon\u2019s multi-billion dollar second headquarters.<\/span><\/p>\n\n\n\n

\u201c<\/span>Whether the Amazon headquarters comes here or not,\u201d said Mullin. <\/span><\/p>\n\n\n\n

\u201cIt really says something that a world-leading company like Amazon is considering this<\/em> the world location.”<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

BrainStation has now been part of the Toronto tech community for seven years, and in that time, the […]<\/p>\n","protected":false},"author":7,"featured_media":7312,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[84],"tags":[94,238,538,127,537],"yoast_head":"\nHow Toronto Became a Global Tech Leader (in 7 Years) | BrainStation\u00ae Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/brainstation.io\/blog\/how-toronto-became-a-global-tech-leader-in-7-years\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Toronto Became a Global Tech Leader (in 7 Years) | BrainStation\u00ae Blog\" \/>\n<meta property=\"og:description\" content=\"BrainStation has now been part of the Toronto tech community for 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