GITNUXREPORT 2026

Toronto Technology Industry Statistics

Toronto's tech industry is booming, with strong growth in jobs, startups, and investment fueling the city's economy.

Alexander Schmidt

Research Analyst specializing in technology and digital transformation trends.

First published: Feb 13, 2026

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Statistic 1

Toronto hosts over 4,500 technology companies as of 2024.

Statistic 2

Shopify, a Toronto-based unicorn, has 10,000+ employees globally with HQ in city.

Statistic 3

There are 18 unicorn startups in Toronto's tech ecosystem in 202 4.

Statistic 4

Fintech firms number 450 in Toronto, leading Canada.

Statistic 5

1,200 AI startups operate in Greater Toronto Area.

Statistic 6

MaRS Discovery District supports 1,300+ tech companies.

Statistic 7

Healthtech startups in Toronto total 350, with $2B valuation.

Statistic 8

Cleantech companies in Toronto: 280, focusing on energy tech.

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Gaming and esports firms: 150 in Toronto ecosystem.

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60% of Toronto tech companies founded post-2010.

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Wealthsimple, Toronto fintech unicorn, valued at $5B.

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200 hardware tech startups in Toronto as of 2023.

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Proptech companies: 120, driven by real estate tech.

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25% of Canadian tech unicorns headquartered in Toronto.

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Quantum computing startups: 15 in Toronto cluster.

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Edtech firms: 90, serving global markets from Toronto.

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1,000 SaaS companies based in Toronto.

Statistic 18

Robotics startups: 50, leveraging UofT research.

Statistic 19

Toronto has 300+ Series A funded startups.

Statistic 20

Agritech companies: 40 in Toronto area.

Statistic 21

70% survival rate for Toronto tech startups after 5 years.

Statistic 22

Autonomous vehicle startups: 20 in Toronto.

Statistic 23

450 B2B tech firms dominate Toronto landscape.

Statistic 24

Fashiontech startups: 25, blending AI and retail.

Statistic 25

Toronto tech company density: 1 per 2,500 residents.

Statistic 26

150 cybersecurity startups in Toronto.

Statistic 27

Biotech firms with tech focus: 200.

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E-commerce startups beyond Shopify: 300.

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Toronto tech contributes CAD 58B to GDP annually.

Statistic 30

Tech sector GDP growth: 8.2% YoY in 2023.

Statistic 31

Exports from Toronto tech firms: $25B in 2023.

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Tech taxes contribute $4.5B to Toronto economy yearly.

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Multiplier effect: each tech job creates 2.5 others.

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Tech drives 15% of Toronto's GDP growth since 2015.

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Startup ecosystem value: $50B in Toronto.

Statistic 36

Tech R&D spend: $12B annually in GTA.

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9% of provincial GDP from Toronto tech.

Statistic 38

Cost savings from tech adoption: $3B city-wide.

Statistic 39

Tech tourism (conferences): $500M economic boost.

Statistic 40

Productivity gain: 20% higher in tech firms vs average.

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Tech real estate demand: 5M sq ft office space.

Statistic 42

VC return on investment: 3x average for Toronto funds.

Statistic 43

Job creation multiplier: $110K GDP per tech job.

Statistic 44

Tech patents contribute $2B in licensing revenue.

Statistic 45

12% annual growth in tech GDP contribution.

Statistic 46

Immigration-driven growth: 30% of GDP boost.

Statistic 47

Tech reduces city operational costs by 15%.

Statistic 48

Ecosystem ranking: #9 globally per Startup Genome.

Statistic 49

$10B in construction from tech campuses.

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Toronto tech sector size: 11% of Canadian tech GDP.

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25,000 new businesses spawned by tech ecosystem.

Statistic 52

Toronto's technology sector employed 263,000 professionals in 2023, marking a 5% increase from 2022.

Statistic 53

The average salary for software developers in Toronto's tech industry is CAD 120,000 annually as of 2024.

Statistic 54

Women represent 28% of the tech workforce in Toronto, up from 25% in 2020.

Statistic 55

Toronto tech jobs grew by 12,000 positions in Q1 2024 alone.

Statistic 56

45% of Toronto's tech workers hold at least a bachelor's degree in computer science or related fields.

Statistic 57

The tech sector accounts for 10% of Toronto's total employment, with 263,000 jobs in 2023.

Statistic 58

Entry-level tech salaries in Toronto average CAD 85,000 per year in 2024.

Statistic 59

15% of Toronto tech employees are immigrants, contributing to diverse talent pools.

Statistic 60

Toronto has 5,200 AI specialists employed in tech firms as of 2023.

Statistic 61

Tech unemployment rate in Toronto is 2.1%, below the national average of 3.5% in 2024.

Statistic 62

32% of Toronto tech workers are aged 25-34, the largest demographic cohort.

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Cybersecurity professionals in Toronto earn an average of CAD 115,000 annually.

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Toronto tech sector added 40,000 jobs between 2020 and 2023.

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22% of tech roles in Toronto require machine learning expertise in 2024.

Statistic 66

Data scientists in Toronto command salaries averaging CAD 130,000.

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Toronto's tech workforce includes 18,000 fintech specialists.

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7% annual growth in tech employment projected through 2028.

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Black professionals make up 8% of Toronto's tech workforce.

Statistic 70

UX/UI designers in Toronto earn CAD 95,000 on average.

Statistic 71

50,000 remote tech workers based in Toronto metro area in 2024.

Statistic 72

DevOps engineers average CAD 125,000 salary in Toronto tech.

Statistic 73

12% of tech jobs in Toronto are in healthtech subsector.

Statistic 74

Indigenous representation in tech workforce at 2.5% in 2023.

Statistic 75

Cloud architects earn CAD 140,000 average in Toronto.

Statistic 76

Toronto tech sector has 35,000 jobs in software development.

Statistic 77

25% increase in female tech hires since 2021.

Statistic 78

Product managers in tech average CAD 110,000 salary.

Statistic 79

4,000 blockchain experts employed in Toronto tech.

Statistic 80

Tech apprenticeships grew 20% in Toronto in 2023.

Statistic 81

Toronto has over 10,000 sales roles in tech companies.

Statistic 82

Toronto filed 2,500 tech patents in 2023.

Statistic 83

University of Toronto ranks #1 in Canada for AI research output.

Statistic 84

Vector Institute published 1,200 AI papers in 2023.

Statistic 85

R&D expenditure by Toronto tech: 15% of revenue.

Statistic 86

500 startups spun out from Toronto universities since 2015.

Statistic 87

Quantum research hubs: 3 in Toronto with 200 patents.

Statistic 88

AI patent filings: 800 by Toronto firms in 2023.

Statistic 89

MaRS incubator supported 300 R&D projects.

Statistic 90

Healthtech innovations: 150 clinical trials tech-enabled.

Statistic 91

Cleantech prototypes: 100 from Toronto labs.

Statistic 92

Global AI Index ranks Toronto #5 worldwide hub.

Statistic 93

10,000 researchers in Toronto tech ecosystem.

Statistic 94

Blockchain patents: 300 filed locally.

Statistic 95

Robotics R&D funding: $200M annually.

Statistic 96

40% of Canadian AI startups from Toronto research.

Statistic 97

Hackathons produced 500 prototypes yearly.

Statistic 98

Open source contributions: 1M commits from Toronto devs.

Statistic 99

Fintech APIs developed: 2,000 innovative standards.

Statistic 100

AR/VR research papers: 400 from Toronto unis.

Statistic 101

Sustainability tech breakthroughs: 50 patents.

Statistic 102

Edtech R&D grants: $50M awarded.

Statistic 103

Machine learning models deployed: 1,500 commercial.

Statistic 104

Cybersecurity innovations: 200 new protocols.

Statistic 105

Biotech AI integrations: 100 projects.

Statistic 106

Toronto tech startups raised $5.5B in VC in 2023.

Statistic 107

Q1 2024 VC deals in Toronto tech: 85 totaling $1.2B.

Statistic 108

AI startups in Toronto secured $2.8B in 2023 funding.

Statistic 109

Fintech investments in Toronto: $1.1B across 120 deals in 2023.

Statistic 110

Total VC funding for Toronto startups 2019-2023: $15B.

Statistic 111

Corporate venture capital into Toronto tech: $800M in 2023.

Statistic 112

Seed funding rounds in Toronto: 250 averaging $2.5M each in 2024.

Statistic 113

Series B deals: 45 totaling $1.8B in Toronto 2023.

Statistic 114

Government grants to Toronto tech: $450M via SR&ED in 2023.

Statistic 115

Angel investments: 500 deals worth $300M in Toronto startups.

Statistic 116

Healthtech funding: $650M across 50 Toronto startups in 2023.

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Cleantech VC in Toronto: $400M in 2023.

Statistic 118

Gaming investments: $250M for 30 Toronto studios.

Statistic 119

Proptech funding: $180M in 2023 Toronto deals.

Statistic 120

Quantum tech investments: $120M from federal funds.

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20% YoY increase in VC deal count to 350 in 2023.

Statistic 122

US investors contributed 40% of Toronto tech funding.

Statistic 123

Late-stage funding: $3B for Toronto scale-ups in 2023.

Statistic 124

Women-led startups received 15% of total VC funding.

Statistic 125

Robotics funding: $90M across 12 Toronto firms.

Statistic 126

Agritech investments: $60M in Toronto ecosystem.

Statistic 127

Median deal size for Series A: $8M in Toronto.

Statistic 128

Blockchain/crypto funding: $150M despite market dip.

Statistic 129

Edtech VC: $70M for Toronto startups.

1/129

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Toronto's tech scene isn't just booming; it's fundamentally reshaping the city's economic landscape, adding 12,000 new jobs in just the first quarter of 2024 alone.

Key Takeaways

Toronto's technology sector employed 263,000 professionals in 2023, marking a 5% increase from 2022.
The average salary for software developers in Toronto's tech industry is CAD 120,000 annually as of 2024.
Women represent 28% of the tech workforce in Toronto, up from 25% in 2020.
Toronto hosts over 4,500 technology companies as of 2024.
Shopify, a Toronto-based unicorn, has 10,000+ employees globally with HQ in city.
There are 18 unicorn startups in Toronto's tech ecosystem in 202 4.
Toronto tech startups raised $5.5B in VC in 2023.
Q1 2024 VC deals in Toronto tech: 85 totaling $1.2B.
AI startups in Toronto secured $2.8B in 2023 funding.
Toronto tech contributes CAD 58B to GDP annually.
Tech sector GDP growth: 8.2% YoY in 2023.
Exports from Toronto tech firms: $25B in 2023.
Toronto filed 2,500 tech patents in 2023.
University of Toronto ranks #1 in Canada for AI research output.
Vector Institute published 1,200 AI papers in 2023.

Toronto's tech industry is booming, with strong growth in jobs, startups, and investment fueling the city's economy.

Companies and Startups

Toronto hosts over 4,500 technology companies as of 2024.
Shopify, a Toronto-based unicorn, has 10,000+ employees globally with HQ in city.
There are 18 unicorn startups in Toronto's tech ecosystem in 202 4.
Fintech firms number 450 in Toronto, leading Canada.
1,200 AI startups operate in Greater Toronto Area.
MaRS Discovery District supports 1,300+ tech companies.
Healthtech startups in Toronto total 350, with $2B valuation.
Cleantech companies in Toronto: 280, focusing on energy tech.
Gaming and esports firms: 150 in Toronto ecosystem.
60% of Toronto tech companies founded post-2010.
Wealthsimple, Toronto fintech unicorn, valued at $5B.
200 hardware tech startups in Toronto as of 2023.
Proptech companies: 120, driven by real estate tech.
25% of Canadian tech unicorns headquartered in Toronto.
Quantum computing startups: 15 in Toronto cluster.
Edtech firms: 90, serving global markets from Toronto.
1,000 SaaS companies based in Toronto.
Robotics startups: 50, leveraging UofT research.
Toronto has 300+ Series A funded startups.
Agritech companies: 40 in Toronto area.
70% survival rate for Toronto tech startups after 5 years.
Autonomous vehicle startups: 20 in Toronto.
450 B2B tech firms dominate Toronto landscape.
Fashiontech startups: 25, blending AI and retail.
Toronto tech company density: 1 per 2,500 residents.
150 cybersecurity startups in Toronto.
Biotech firms with tech focus: 200.
E-commerce startups beyond Shopify: 300.

Companies and Startups Interpretation

Toronto isn't just playing Silicon Valley North; it's building a sprawling, resilient, and improbably diverse kingdom where fintechs rule the treasury, AI startups form the thinking class, and even the local unicorns have to share the pasture with 4,499 other ambitious creatures.

Economic Impact and Growth

Toronto tech contributes CAD 58B to GDP annually.
Tech sector GDP growth: 8.2% YoY in 2023.
Exports from Toronto tech firms: $25B in 2023.
Tech taxes contribute $4.5B to Toronto economy yearly.
Multiplier effect: each tech job creates 2.5 others.
Tech drives 15% of Toronto's GDP growth since 2015.
Startup ecosystem value: $50B in Toronto.
Tech R&D spend: $12B annually in GTA.
9% of provincial GDP from Toronto tech.
Cost savings from tech adoption: $3B city-wide.
Tech tourism (conferences): $500M economic boost.
Productivity gain: 20% higher in tech firms vs average.
Tech real estate demand: 5M sq ft office space.
VC return on investment: 3x average for Toronto funds.
Job creation multiplier: $110K GDP per tech job.
Tech patents contribute $2B in licensing revenue.
12% annual growth in tech GDP contribution.
Immigration-driven growth: 30% of GDP boost.
Tech reduces city operational costs by 15%.
Ecosystem ranking: #9 globally per Startup Genome.
$10B in construction from tech campuses.
Toronto tech sector size: 11% of Canadian tech GDP.
25,000 new businesses spawned by tech ecosystem.

Economic Impact and Growth Interpretation

Toronto's tech sector is not just a cash cow but the city's most prolific economic alchemist, turning venture capital and ingenuity into towering GDP figures, a flood of exports, and enough spin-off jobs and businesses to make even the most ambitious urban planner blush.

Employment and Workforce

Toronto's technology sector employed 263,000 professionals in 2023, marking a 5% increase from 2022.
The average salary for software developers in Toronto's tech industry is CAD 120,000 annually as of 2024.
Women represent 28% of the tech workforce in Toronto, up from 25% in 2020.
Toronto tech jobs grew by 12,000 positions in Q1 2024 alone.
45% of Toronto's tech workers hold at least a bachelor's degree in computer science or related fields.
The tech sector accounts for 10% of Toronto's total employment, with 263,000 jobs in 2023.
Entry-level tech salaries in Toronto average CAD 85,000 per year in 2024.
15% of Toronto tech employees are immigrants, contributing to diverse talent pools.
Toronto has 5,200 AI specialists employed in tech firms as of 2023.
Tech unemployment rate in Toronto is 2.1%, below the national average of 3.5% in 2024.
32% of Toronto tech workers are aged 25-34, the largest demographic cohort.
Cybersecurity professionals in Toronto earn an average of CAD 115,000 annually.
Toronto tech sector added 40,000 jobs between 2020 and 2023.
22% of tech roles in Toronto require machine learning expertise in 2024.
Data scientists in Toronto command salaries averaging CAD 130,000.
Toronto's tech workforce includes 18,000 fintech specialists.
7% annual growth in tech employment projected through 2028.
Black professionals make up 8% of Toronto's tech workforce.
UX/UI designers in Toronto earn CAD 95,000 on average.
50,000 remote tech workers based in Toronto metro area in 2024.
DevOps engineers average CAD 125,000 salary in Toronto tech.
12% of tech jobs in Toronto are in healthtech subsector.
Indigenous representation in tech workforce at 2.5% in 2023.
Cloud architects earn CAD 140,000 average in Toronto.
Toronto tech sector has 35,000 jobs in software development.
25% increase in female tech hires since 2021.
Product managers in tech average CAD 110,000 salary.
4,000 blockchain experts employed in Toronto tech.
Tech apprenticeships grew 20% in Toronto in 2023.
Toronto has over 10,000 sales roles in tech companies.

Employment and Workforce Interpretation

Toronto's tech scene is booming, hiring fast, and paying well, yet it's still puzzling out how to be a truly open party for everyone while its growing, well-educated, and youthful crowd keeps busy building the future, one expensive software bug at a time.

Innovation and R&D

Toronto filed 2,500 tech patents in 2023.
University of Toronto ranks #1 in Canada for AI research output.
Vector Institute published 1,200 AI papers in 2023.
R&D expenditure by Toronto tech: 15% of revenue.
500 startups spun out from Toronto universities since 2015.
Quantum research hubs: 3 in Toronto with 200 patents.
AI patent filings: 800 by Toronto firms in 2023.
MaRS incubator supported 300 R&D projects.
Healthtech innovations: 150 clinical trials tech-enabled.
Cleantech prototypes: 100 from Toronto labs.
Global AI Index ranks Toronto #5 worldwide hub.
10,000 researchers in Toronto tech ecosystem.
Blockchain patents: 300 filed locally.
Robotics R&D funding: $200M annually.
40% of Canadian AI startups from Toronto research.
Hackathons produced 500 prototypes yearly.
Open source contributions: 1M commits from Toronto devs.
Fintech APIs developed: 2,000 innovative standards.
AR/VR research papers: 400 from Toronto unis.
Sustainability tech breakthroughs: 50 patents.
Edtech R&D grants: $50M awarded.
Machine learning models deployed: 1,500 commercial.
Cybersecurity innovations: 200 new protocols.
Biotech AI integrations: 100 projects.

Innovation and R&D Interpretation

Toronto is not just thinking about the future; it's methodically patenting, publishing, and prototyping it into existence, one brilliant, slightly obsessive researcher at a time.

Investment and Funding

Toronto tech startups raised $5.5B in VC in 2023.
Q1 2024 VC deals in Toronto tech: 85 totaling $1.2B.
AI startups in Toronto secured $2.8B in 2023 funding.
Fintech investments in Toronto: $1.1B across 120 deals in 2023.
Total VC funding for Toronto startups 2019-2023: $15B.
Corporate venture capital into Toronto tech: $800M in 2023.
Seed funding rounds in Toronto: 250 averaging $2.5M each in 2024.
Series B deals: 45 totaling $1.8B in Toronto 2023.
Government grants to Toronto tech: $450M via SR&ED in 2023.
Angel investments: 500 deals worth $300M in Toronto startups.
Healthtech funding: $650M across 50 Toronto startups in 2023.
Cleantech VC in Toronto: $400M in 2023.
Gaming investments: $250M for 30 Toronto studios.
Proptech funding: $180M in 2023 Toronto deals.
Quantum tech investments: $120M from federal funds.
20% YoY increase in VC deal count to 350 in 2023.
US investors contributed 40% of Toronto tech funding.
Late-stage funding: $3B for Toronto scale-ups in 2023.
Women-led startups received 15% of total VC funding.
Robotics funding: $90M across 12 Toronto firms.
Agritech investments: $60M in Toronto ecosystem.
Median deal size for Series A: $8M in Toronto.
Blockchain/crypto funding: $150M despite market dip.
Edtech VC: $70M for Toronto startups.

Investment and Funding Interpretation

Toronto's tech scene is proving it's no longer just polite ambition, as these numbers reveal a serious and sprawling engine—fueled by everything from AI's giant leaps to countless gritty seed bets—that is finally getting the capital and global attention its potential has long deserved.

Sources & References

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