With an army of over one million workers powering everything from Toronto’s booming AI scene to Vancouver’s lucrative fintech hubs, Canada's tech industry is not just growing—it’s fundamentally reshaping the nation's economic landscape from coast to coast.
Key Takeaways
- In 2023, Canada's tech workforce reached 1.1 million full-time employees, representing 5.5% of total national employment
- Toronto's tech sector employed 344,000 workers in 2022, making it the largest tech hub in Canada
- Women accounted for 26% of Canada's tech workforce in 2023, up from 24% in 2021
- Canadian VC investment in tech reached CAD 8.5 billion in 2022, down 22% from 2021 peak
- AI startups captured 35% of total tech VC funding at CAD 2.9B in 2023
- Toronto received CAD 3.2B in tech VC in 2022, 40% of national total
- Canada had 32,000 tech startups in 2023, up 5% from 2022
- Toronto hosts 12,000 tech startups, 38% of national total in 2023
- 1,200 new tech startups founded in 2022, highest in SaaS and AI
- Canada filed 25,000 tech patents in 2022, 15% YoY growth
- AI patent applications from Canada: 4,200 in 2023, 3rd globally per capita
- R&D spending by tech sector: CAD 22B in 2022, 12% of GDP contribution
- Canada's tech sector contributed CAD 110B to GDP in 2022, 5% of total
- Tech exports: CAD 85B in 2023, 12% of total merchandise exports
- Toronto tech GDP contribution: CAD 45B in 2022
Canada's tech industry employs over a million people and is a major economic engine.
Economic Impact
- Canada's tech sector contributed CAD 110B to GDP in 2022, 5% of total
- Tech exports: CAD 85B in 2023, 12% of total merchandise exports
- Toronto tech GDP contribution: CAD 45B in 2022
- Average tech salary: CAD 98,000 vs national CAD 65,000 in 2023
- Tech taxes paid: CAD 15B federal/provincial in 2022
- Vancouver tech output: CAD 22B GDP, 8% city total 2022
- Job multiplier effect: each tech job creates 2.5 others, 2.7M indirect 2023
- Montreal tech GDP: CAD 18B, 6% provincial 2022
- Consumer spending from tech wages: CAD 70B annually 2023
- Ottawa tech exports: CAD 12B in 2022
- ROI on tech education: CAD 3.2M lifetime earnings premium 2023
- Calgary tech GDP growth: 10% to CAD 8B in 2022
- Tech venture valuation: CAD 200B total market cap 2023
- Waterloo tech GDP: CAD 12B, 25% regional 2022
- Productivity gain from tech: 1.5% annual GDP boost 2018-2023
- Halifax tech revenue: CAD 5B, 15% regional GDP 2022
- Corporate income from tech: CAD 25B pre-tax 2023
- Edmonton tech exports: CAD 4B, agrotech 30% 2022
- Wealth creation: tech founders hold CAD 50B net worth 2023
- Winnipeg tech GDP: CAD 3.5B, cybersecurity drives 2022
- Tourism boost from tech events: CAD 1.2B annually 2023
- Victoria tech revenue growth: 12% to CAD 4B 2022
- Supply chain value from tech: CAD 40B indirect spend 2023
- Quebec City tech GDP: CAD 6B, 7% provincial share 2022
- Philanthropy from tech sector: CAD 2B donations 2022
- Kitchener tech exports: CAD 7B, 2023 data
Economic Impact Interpretation
Canada's tech sector isn't just building apps; it's building the entire country's economic engine, one high-paying job and massive tax contribution at a time.
Employment
- In 2023, Canada's tech workforce reached 1.1 million full-time employees, representing 5.5% of total national employment
- Toronto's tech sector employed 344,000 workers in 2022, making it the largest tech hub in Canada
- Women accounted for 26% of Canada's tech workforce in 2023, up from 24% in 2021
- Vancouver had 183,000 tech jobs in 2022, with average salary of CAD 102,000
- Canada's tech unemployment rate was 2.8% in Q4 2023, below national average of 5.8%
- Montreal tech employment grew 12% YoY to 152,000 in 2022
- 45% of Canadian tech workers are under 35 years old as of 2023
- Ottawa-Gatineau tech sector had 75,000 jobs in 2022 with 8% growth
- Indigenous representation in tech workforce is 2.1% in 2023
- Calgary tech jobs numbered 52,000 in 2022, focused on energy tech
- 68% of Canadian tech firms report talent shortages in AI/ML skills in 2023
- Waterloo tech employment hit 45,000 in 2022, driven by universities
- Visible minorities make up 38% of tech workforce in major cities, 2023 data
- Halifax tech jobs grew to 28,000 in 2022, 15% YoY increase
- 22% of tech roles are remote-eligible in Canada, highest in software dev, 2023
- Winnipeg tech sector employs 22,000 with focus on cybersecurity, 2022
- 15% growth in tech jobs for newcomers to Canada from 2020-2023
- Edmonton tech workforce at 35,000 in 2022, strong in agrotech
- 55% of tech workers have university degrees, 25% have post-grad, 2023
- Quebec City tech jobs: 25,000 in 2022, video games dominant
- Regina-Saskatoon combined tech employment: 18,000, growing 10% YoY, 2023
- 40% of tech firms hiring for cybersecurity roles in 2023
- Victoria BC tech jobs: 20,000 in 2022, remote work hub
- 30% increase in tech apprenticeships from 2021-2023
- London ON tech workforce: 15,000, AI focus, 2023 data
- 65% of tech jobs require coding skills, Python top language, 2023
- St. John's NL tech jobs: 10,000, ocean tech leader, 2022
- 18% of tech workforce is international talent via visas, 2023
- Kitchener tech employment growth 14% to 40,000 in 2022
- 50% of tech managers report retention issues due to US poaching, 2023
Employment Interpretation
Canada’s tech scene is booming with over a million workers, yet it’s still wrestling with growing pains—from making space for more women and Indigenous talent to fending off brain drain while cities from Toronto to St. John’s carve out their own innovative niches.
Innovation
- Canada filed 25,000 tech patents in 2022, 15% YoY growth
- AI patent applications from Canada: 4,200 in 2023, 3rd globally per capita
- R&D spending by tech sector: CAD 22B in 2022, 12% of GDP contribution
- Quantum tech patents: 850 filed by Canadian firms 2018-2023
- Toronto AI research papers: 12% of global total in 2022
- Universities granted 8,500 tech-related PhDs 2019-2023
- Cleantech innovations: 1,200 patents filed 2022, battery tech leads
- Montreal video game patents: 450 in 2022, AR/VR rising
- Blockchain patents: 1,100 from Canada 2020-2023
- Cybersecurity R&D spend: CAD 2.5B in 2023
- Ottawa telecom patents: 2,000 since 2015, 5G leader
- Number of tech incubators: 200 nationwide, supported 5,000 innovations 2022
- Vancouver biotech patents: 650 in 2022
- STEM graduates: 180,000 annually, 40% enter tech R&D, 2023
- Waterloo software patents: 1,500 in 2022
- Government R&D grants to tech: CAD 5B via NRC-IRAP 2022
- AI startups with patents: 35% of total, 900 firms, 2023
- Halifax ocean tech prototypes: 200 commercialized 2022
- H-index for Canadian tech researchers: 145 average, top 5 globally, 2023
- Edmonton drone tech patents: 300 since 2018
- Tech prototypes to market: 15% success rate, 1,200 launched 2022
- Winnipeg healthtech innovations: 400 patents pending 2023
- Victoria robotics patents: 250 in 2022
- Open source contributions from Canada: 2.5M commits to GitHub 2022
- Quebec simulation tech R&D: CAD 1B spend 2023
- Fintech APIs developed: 5,000 by Canadian firms 2022
- Kitchener AR/VR prototypes: 150 commercialized 2023
Innovation Interpretation
While our winters may be long, Canada's tech sector is clearly warming up the global stage with brainpower, filing patents from AI to quantum at a hockey-pace that proves our innovation is more than just polite promise.
Investment
- Canadian VC investment in tech reached CAD 8.5 billion in 2022, down 22% from 2021 peak
- AI startups captured 35% of total tech VC funding at CAD 2.9B in 2023
- Toronto received CAD 3.2B in tech VC in 2022, 40% of national total
- Number of tech funding deals: 1,012 in 2022, average deal size CAD 6.4M
- Vancouver tech VC: CAD 1.1B across 250 deals in 2022
- Late-stage tech investments totaled CAD 4.2B in 2023, led by fintech
- Government tech grants via SR&ED claimed CAD 4B by tech firms in 2022
- Montreal secured CAD 900M VC for tech in 2022, 25% in AI
- Seed-stage funding: CAD 1.2B for 450 tech startups in 2023
- Corporate VC in Canadian tech: CAD 750M in 2022, up 15%
- Ottawa tech VC: CAD 450M in 2022, cybersecurity focus
- Female-founded tech startups received 2.5% of VC funding in 2022
- Calgary energy tech VC: CAD 300M in 2023, cleantech dominant
- Series A average: CAD 5.1M per deal, 180 deals in 2022
- Waterloo region VC: CAD 600M for 120 startups in 2022
- Foreign VC into Canada tech: 45% of total, US leads at 30%, 2023
- Halifax Atlantic Canada VC: CAD 200M in 2023, ocean tech rising
- Quantum computing funding: CAD 150M in 2022, led by Xanadu
- SaaS sector VC: CAD 1.8B across 200 companies in 2022
- Edmonton agrotech VC: CAD 120M in 2022
- Biotech VC crossover to healthtech: CAD 900M in 2023
- Winnipeg cybersecurity VC: CAD 80M in 2022
- Victoria VC deals: 50 deals worth CAD 150M in 2023
- M&A exits for tech: CAD 12B in 2022, 25 deals over CAD 100M
- Kitchener quantum VC: CAD 200M led by evolutionQ, 2023
- Cleantech VC: CAD 650M in 2022, 18% of total tech funding
- Quebec VC tax credits supported CAD 500M tech investments in 2023
- Saskatoon VC: CAD 90M for 30 startups in 2022
Investment Interpretation
Despite a sobering overall dip in venture capital, the Canadian tech scene has become a tale of two economies: one where artificial intelligence and Toronto soak up billions like a financial sponge, and another where women founders receive a pittance and everyone outside the major hubs fights for the scraps.
Startups
- Canada had 32,000 tech startups in 2023, up 5% from 2022
- Toronto hosts 12,000 tech startups, 38% of national total in 2023
- 1,200 new tech startups founded in 2022, highest in SaaS and AI
- Survival rate of tech startups after 5 years: 52% in Canada, 2023 data
- Vancouver: 7,500 tech startups, fintech leader with 1,200 firms, 2023
- Unicorn startups: 9 in Canada as of 2023, total valuation CAD 40B
- Montreal: 5,800 startups, 45% in AI/video games, 2022 count
- 25% of startups are female-led, but only 15% scale to 50+ employees, 2023
- Ottawa: 2,800 tech startups, govtech focus, 2023
- Accelerator programs graduated 850 startups in 2022, CAD 200M raised post-program
- Calgary: 1,500 startups, 40% cleantech/energy tech, 2023
- Incubator support: 1,200 startups funded CAD 150M in grants 2022
- Waterloo: 3,200 startups, highest per capita in Canada, 2023
- Atlantic Canada: 2,000 startups, ocean tech 20%, 2022
- Bootstrapped startups: 60% of total, generate CAD 50B revenue annually, 2023
- Halifax: 1,200 startups, 25% growth since 2020, 2023
- Indigenous-led tech startups: 450 nationwide in 2023, up 30%
- Edmonton: 1,000 startups, agrotech leader, 2022
- Scale-ups (50-499 employees): 4,500 firms, 20% YoY growth, 2023
- Winnipeg: 800 startups, cybersecurity hub, 2023
- Victoria: 900 startups, strong in remote tools, 2022
- AI startups: 2,500 active in 2023, 40% of new formations
- Quebec City: 1,100 startups, video games 30%, 2023
- Failed startups: 20% in year 1, mainly funding issues, 2022 data
- Kitchener: 1,800 startups, quantum/IoT focus, 2023
- Fintech startups: 1,800 across Canada, Toronto 800, 2023
Startups Interpretation
Canada’s tech startup scene is like a thriving, stubborn garden where nearly half the seeds sprout but only a few become mighty trees, with Toronto as the busiest plot, AI and SaaS as the trendy crops, and an impressive underground network of bootstrapped roots quietly feeding the entire ecosystem.
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