In recent years, technology and entrepreneurship have been promoted as the future of our economy. They are expected to create the prosperity and jobs we need to keep Toronto a vibrant world-class city.
TechToronto believes this to be true, but we also believe that the average Torontonian doesn’t appreciate the extent to which technology has already transformed our economy. The Internet, mobile technologies, wearables, big data and machine learning have created thousands of new companies and jobs in Toronto.
We undertook this study to demonstrate the impact of technology on the Toronto economy and suggest ways to help the technology ecosystem to prosper and grow. This study defines the Toronto tech ecosystem and measures the ecosystem’s resilience, robustness and impact on the economy.
The report consists of two sections. The first two sections provide a quantitative overview of both the Toronto economy at large and the growing tech ecosystem within it. The third section outlines our policy recommendations.