Canada Ranks In The 10 Most Startup-Friendly Countries Of 2020
Hansen & Company have released a list of the 10 most startup-friendly countries globally. Canada made the list, coming in sixth. Hootsuite, Shopify and Kik were mentioned as notable Canadian startups.
Some of Canada’s most innovative industries are fintech, big data and analytics, life sciences and health, manufacturing and robotics, gaming, artificial intelligence, blockchain and cybersecurity.
Canadian startups can take advantage of benefits like the SR&ED tax incentive, a strong exchange rate, geographical proximity to the US market and a well-educated workforce. The top innovative regions are:
- Toronto-Waterloo
- Montreal
- Vancouver
- Ottawa
- Quebec City
- Edmonton
Full results of the top 10 are below:
1. Japan
Scored highly in:
- Well-developed infrastructure
- Educated population
- Skilled labour force
- Innovation
- Technological expertise
2. Germany
Scored highly in:
- Well-developed infrastructure
- Educated population
- Global connections
- Skilled labour force
3. United States
Scored highly in:
- Entrepreneurialism
- Global connections
- Technological expertise
- Well-developed infrastructure
4. Switzerland
Scored highly in:
- Easy access to capital
- Well-developed legal framework
- Educated population
5. United Kingdom
Scored highly in:
- Global connections
- Educated population
- Well-developed infrastructure
- Well-developed legal framework
6. Canada
Scored highly in:
- Transparent business practices
- Educated population
- Well-developed infrastructure
7. Sweden
Scored highly in:
- Educated population
- Well-developed infrastructure
- Transparent business practices
8. South Korea
Scored highly in:
- Technological expertise
- Skilled labour force
- Innovation
9. Australia
Scored highly in:
- Well-developed infrastructure
- Educated population
- Well-developed legal framework
10. Singapore
Scored highly in:
- Entrepreneurialism
- Global connections
- Innovation
Swanson Reed can help your startup claim the SR&ED tax incentive for experimental work it has undertaken. These credits can then be reinvested into the company to further your innovative projects. To see how much you could receive, try our free online SR&ED tax incentive calculator.
