California's Silicon Valley has long been known as the world's innovation hub. It is home to the headquarters of some of the world's top tech companies, not to mention a plethora of startups. But other cities are beginning to catch up and challenge Silicon Valley as a sole destination.
Australia's the Herald Sun has published a list of eight destination sit says could potentially rival Silicon Valley. Among it: Toronto.
"Nicknamed Silicon Valley North, Toronto has reigned as the undisputed capital of Canadian Innovation for the past decade. With just over 600 new start-ups, the country’s largest cluster of research producing universities and some gloriously deep venture capitalist pockets, you can guess why," the article says.
"In September 2012, the federal government set aside US$400 million for private sector VC funds and promised the business development Bank of Canada another US$100 million for investment opportunities."
Though New York, Boston and Waterloo don't make the list, The Herald claims they're fierce competitors to Toronto's role in "startup ecosystems of the north." It says more work needs to be done if we want to play on the global stage, though it places us in higher regard than other growing hubs including Berlin, Bangalore and Moscow.
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Original source: The Herald Sun