This type of news tends to annoy other tech hubs (especially when it is Toronto itself saying it) but facts are facts: Toronto is Canada’s leading technology centre with 30 per cent of the nation’s Information, Communications and Technology (ICT) industry, according to the City of Toronto’s Economic Development and Culture group. A report modestly titled Toronto: Canada’s High-Tech Hub
finds the local sector includes 11,522 companies, generates $52.2 billion in annual revenues, produces an employment rate of almost 96 per cent and employs more than 161,000 workers, 30 per cent of all ICT employees in Canada.
Almost 98 per cent of Toronto’s ICT firms have fewer than 100 employees.
Toronto is also a centre for those seeking funds: 31 per cent of the top 100 Canadian R&D investors across all sectors are Toronto-based ICT companies.