There once was a time when thinking of Toronto would conjure up images of just one thing: ice hockey. For a city once famous for its team alone, a lot has changed. From 2015 onwards, Toronto has experienced an explosion in its tech industry and is now even dubbed as the new Silicone Valley. Established players such as Google, Microsoft, and Uber have invested heavily to establish a presence in the city, but it is not just about the presence of tech giants: billions of dollars are invested into startups in the city, making it the place to be for budding tech companies.
Tech companies involved with health, cybersecurity, IT infrastructure, and gaming are all making their presence known, and following the fallout of the pandemic which hit the world in 2020, plans are afoot to ensure that 2021 is a year of growth. The tech scene in Toronto is not just set to weather the storm and survive: all indications are that the sector will boom and thrive.
The demand for artificial intelligence
Artificial intelligence (AI) is playing an ever-growing part in our lives and is impacting every industry: the use of chatbots is increasing, and people now demand a more personal interaction. Of course, there is more to AI than chatbots, and future development has the potential for endless possibilities. Even casinos, such as Comeon Casino, are set to benefit from evolving AI technology.
What makes Toronto a hotbed for AI? The city saw its potential and took its development seriously. Not only are startups attracted to the area, but Toronto even has a lab dedicated to evolving AI: the Vector Institute. The investment into AI in Toronto sees Canada having more AI research than any other country in the world: this is sure to lead to great things in 2021.
Continuing support for startups
If you are the founder of a new tech company and are looking to grow in 2021, Toronto is the place to be. You cannot escape the presence of big names such as Hootsuite, Shopify, and Cloudflare in the city, but what may not be so obvious, on the surface at least, is just how much encouragement Toronto gives towards its tech industry.
Words of encouragement would do little to see the industry flourish as it has: what makes the difference is that people are prepared to invest. In fact, across Toronto, thanks to VC funding, there are over 4000 tech startups. In addition to the funding, there are also 65 business incubators across the city. The country’s immigration policy also ensures that it is easy to attract talent from beyond its own borders.
2021 and beyond
Tech firms in Toronto already have the foundations in place to make 2021 an amazing year: the mix of research, talent, and funding means that success is a given. What is set to change is the gaming development sector in Toronto. Canada already had its gaming scene in the likes of Montreal and Vancouver, but now Toronto is creating its own scene.
Ex-employees from giants such as EA Sports can taste the opportunities presented in Toronto and are setting up new gaming companies that will grow to rival the established names. The groundwork has already been done, and 2021 and the years that follow, are bound to see a boom in the Toronto gaming industry.