Written by Hershey Rosen | June 28, 2022
Montreal is one of the fastest growing cities in North America. The city is currently going through a great transformation driven by technology, healthcare, and artificial intelligence. It's becoming a home to start-ups, cutting-edge health technology companies, well-established organisations among countless others.
Here is a city that was once popular for its culture, video games, and festivals. However, many failed to realise that there is more to this that meets the eye which means Montreal is growing to be the hub for startups. Many communities, startups, and even multinationals begin to pop up, breaking the "festivities" stereotypes and turning the city into a thing of envy. Not only known for its creative arts, or local population diversity but also as a flourishing land beckoning on startups across all sectors. Little wonder it has recorded between 1800- 3000 startups in no time.
Are you an entrepreneur or a forward-thinking founder who is building businesses? You need the right place to set you on the right path and achieve your goals. The good news is, you can never go wrong with Montreal and here is why?
Only recently, Quebec shelled out $6.5 million to a new Startup Montreal program with the aim of helping hyper growth companies to boost their international development. This is just one out of the many financial programs, grants, and subsidies that the government is leveraging to promote business growth. "Whether you are in finance, health, clean energy, or art, there is financial help awaiting you. The government shows forth with financial assistance while you get to focus on other key areas of your business, Hershey Rosen says". Hershey Rosen is a business consultant and a founder of many successful start-ups.
If not anything, the low cost of real estate as compared to other big cities like Toronto is enough reasons to set your business in Montreal. Montreal is known as one of the cheapest cities in Canada when it comes to real estate with rents and housing. Although prices in real estate are now climbing up, it's still nothing compared to other major cities. Businesses have rents and office space to worry about. And when they can keep this at bay while keeping costs lower, it's enough to entice them to Montreal.
Startup compasses named Montreal as one of the top 20 startup ecosystems in the world for good reasons. Despite the diversity, the city is closely knitted with a community of both well-established organisation, incubation and startups. This is bolstered by various events such as startupfest, a well-renowned event that commands the presence of business gurus, groundbreaking innovators, entrepreneurs and great speakers across the globe. Moreover, supportive non-profits and incubators such as Montreal NewTech and Notman House are bringing together startups to rub minds and promote business."Having a community of like-minded people where you can have a sense of belonging and remind you that you don't have to go solo as an entrepreneur is a huge plus", Hershey Rosen noted.
Montreal's strategic location is also one of the reasons that attracts many business owners. Top companies in NewYork, Boston and other cooperatives in the US are simply a few miles away. Businesses that are aspiring to extend their operations across Canadian borders can consider Montreal. Travelling or visiting big business hubs is really not a hassle.
Montreal boasts of a well-educated, highly skilled workforce together with top universities producing thousands to millions of talents every year. Think innovators, marketers, developers, creative thinkers, think Montreal. Moreover, as the country is also seeing an incredible growth in hottest sectors including AI, cyber security, IT, video games, animations, many talents ready to explore what the city has to offer find this attractive. Not to talk of a city that thrived on exploration and discovery, there is definitely more awaiting your business.
With more than 120 cultural communities, Montreal is one of the most cosmopolitan cities in the world. This makes it, of course, an island of diversity with diverse talents and markets. It is a multiplicity of ideas, creativity, lifestyle and identities and having a startup here means operating in a diverse environment. It is also known to share fascinating ties with Europe in different ways. Montreal takes pride in its rich history and showcases an ideal blend of North America and European culture. Startups willing to extend internationally will find it easy to connect. However, this might require you to start developing an international mindset including understanding and conducting business both in French and English.
With these points, Montreal seems to know how best to attract startups and create a great culture that will set them up for success. It's time to grab your bag, take the next Montreal flight and start planning your next startup business. Bonjour techie!
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