Toronto is becoming one of the most important innovation hubs in the world. A vibrant city with a skillful and diverse labour force, Toronto is attracting talent from just about everywhere, and becoming home to more startups every day. The recent arrival of the Collision Conference (part of the Web Summit family of global entrepreneur conferences) is a testament to the rise of Toronto tech. Toronto’s startups are important. Many of them are tackling ambitious sectors like AI, blockchain, virtual reality, and augmented reality, and 46% of Toronto’s entrepreneurs intend to “change the world”.
Much of Toronto’s tech success comes as a result of a highly immigrant-centred population (52% of Toronto’s population is foreign born). Toronto’s population has been exploding and is now the 4th largest city in North America behind only New York, Los Angeles and Mexico City and larger than Chicago, Dallas and Houston.
To help these startups succeed, the startup infrastructure is expanding. Quality startup incubators and accelerators are popping up to help companies get off the ground, with more options now than ever before.
Are you planning to build a startup in Toronto? If so, take a look at the following list of startup incubators and accelerators, listed in alphabetical order:
1. Creative Destruction Lab
- Description: "The Creative Destruction Lab is a seed-stage program for massively scalable, science and technology-based companies. The program employs an objectives-based mentoring process with the goal of maximizing equity-value creation.”
- Sectors / Markets of Focus: Prime, Artificial Intelligence, Blockchain, Cities, Health, Quantum Machine Learning and Space.
- Creative Destruction Lab Requirements: Startups who are beyond the concept stage and that have developed or currently working on a prototype.
- Creative Destruction Lab Deal Terms: Participants will get mentorship from angel investors and entrepreneurs; plus, the program offers opportunities to raise capital from VC firms and angel investors. Also, they help with business development support, concept feedback and validation.
- Notable CDL Alumni: Audible Reality, Biome Renewables, Galaxy.AI, LabsCubed, Luminari, Nix Sensor, Squad, Tread (Techstars Alum), Proof (Techstars Alum)
2. EON Accelerator
- Description: "Progress Starts with People. Explore the Entrepreneur Opportunity Network's Accelerator Program - Ontario’s newest accelerator program for entrepreneurs under 29."
- Sectors / Markets of Focus: Community, Product, Retail, and Service-Based.
- EON Accelerator Requirements: Canadian entrepreneurs who reside in Ontario between the ages of 15-29. The startup must have, at least, $5,000 a month in recurring revenue or $60,000 in sales with a scalable business model.
- EON Accelerator Deal Terms: Participating startups will attend two multi-day, in-person sessions for a series of intensive workshops in Toronto; plus, 1-on-1 meetings with EIRs (Entrepreneurs in Residence), investors and other supporting organizations.
- Notable EON Accelerator Alumni: CUCU Covers, Hedgehog Umbrella, MarsQuest, Pressa Bottle, Victoire Boutique.
3. Founder Institute Toronto (pre-seed accelerator)
- Description: The Founder Institute works with entrepreneurs and teams in the pre-seed stage, typically before they are advanced enough to gain acceptance into a seed-accelerator program. The program helps you build an enduring business by providing Toronto startup experts that are invested in your success, and a structured business-building process that has helped alumni raise over $1.75BN.
- Sectors / Markets of Focus: All tech or tech-enabled businesses.
- Founder Institute Requirements: Both solo founders and teams at the pre-seed stage are welcome, including those at the idea or very early-stages of a company (including pre-incorporation). If your company has significant funding, traction, or revenue, then you are probably too advanced for the Founder Institute and should consider applying to the seed-accelerators on this list.
- Founder Institute Deal Terms: To create a strong support network, participants join an "Equity Collective" where they contribute 4% of their company to a shared pool. Any financial returns to this pool are then shared equally with each cohort's alumni, the program mentors, Local Leaders, and Founder Institute.
- Notable Founder Institute Alumni: SpaceiShare, Intelocate, Stork Supply, Fairom, DeepPixel, FindBob, Parlay, Makeup for Melanin Girls, DestinAI.
4. gBETA Toronto
- Description: “gBETA is a program of nationally ranked startup accelerator gener8tor. gBETA is a free, seven-week accelerator for early-stage companies with local roots. Each program is capped at five teams, and requires no fees and no equity."
- Sectors / Markets of Focus: All tech or tech-enabled businesses.
- gBETA Requirements: gBETA works with mission-driven, early stage startups.
- gBETA Deal Terms: gBETA provides personalized coaching and mentorship, 1-on-1 meetings with industry experts, Lunch & Learn series, networking opportunities; plus, access to perks from vendors and a pitch night.
- First cohort in progress: https://www.gbetastartups.com/toronto
5. Hatchery (UoT)
- Description: “We create startups. Founded in 2012, The Entrepreneurship Hatchery provides a comprehensive suite of programs and services designed to help students with entrepreneurial ambitions form teams, develop new competencies and launch their companies.”
- Sectors / Markets of Focus: All tech or tech-enabled businesses.
- Hatchery Requirements: Being a student from the University of Toronto with entrepreneurial spirit who wants to develop their innovative ideas and build startups.
- Hatchery Deal Terms: They offer different programs to turn ideas into a startups, help with business ideation to solve specific problems, connect entrepreneurs with cofounders and potential team members.
- Notable Hatchery Alumni: BenchSci, Genecis, Hol Food, Kepler Communications (Techstars Alum) medchart, PheedLoop, SensOR Medical Labs, TeleHex, Trexo Robotics (Techstars Alum)
6. IDEABOOST
- Description: “Accelerating world-class digital media companies and products in Canada. IDEABOOST is a Toronto-based business accelerator and startup community for companies that are building the next generation of technology-based media and entertainment products, services, and brands."
- Sectors / Markets of Focus: Digital Media and Entertainment.
- IDEABOOST Requirements: Canadian startups who are currently building products/platforms for the media and entertainment industry.
- IDEABOOST Deal Terms: A seed investment of up to $35,000. Startups get benefits from partners and the Global Accelerator Network; plus, they receive training, mentorship and access to networking events.
- Notable IDEABOOST Alumni: Madlipz (Techstars Alum), Creatubbles, Flipside XR, Liquid Cinema, Little Robot Friends, MasterpieceVR, Navi, Paddle HR, Synervoz (Techstars Alum) The Discourse.
7. JLABS
- Description: “We are JLABS. The premier life science incubator empowering and enabling innovators to deliver life-enhancing health and wellness solutions to people around the globe.”
- Sectors / Markets of Focus: Life Sciences and Health Tech.
- JLABS Requirements: Entrepreneurs with breakthrough ideas who want to make a significant impact in the healthcare industry.
- JLABS Deal Terms: Startups have access to a lab space with state-of-the-art equipment and a digital prototype lab to bring their ideas to life. They also have access to scientific, industry and capital funding experts.
- Notable JLABS Alumni: Abcombi Biosciences, Appili Therapeutics, Biotagenics, Chestnut Pharmaceuticals, Cogniciti, Cyclica, DNAstack, Eve Medical, MIMOSA Diagnostics, Ranomics, Suncayr, SYNG Pharmaceuticals.
8. LaunchYU
- Description: “Think you have the next high potential venture and want to take it to the next level? This 4 month accelerator program is designed to support entrepreneurs as they Build, Launch, and Scale their ventures through bootcamps, workshops, one-on-one mentorship and other services.”
- Sectors / Markets of Focus: All tech or tech-enabled businesses.
- LaunchYU Requirements: Entrepreneurs who want to build and scale their innovative ideas.
- LaunchYU Deal Terms: Access to pitching and product market fit workshops, 1-on-1 mentorship and bootcamps. Also, networking opportunities with fellow entrepreneurs and investors.
- Notable LaunchYU Alumni: Doorr (Techstars alum), Arfront, nugget.ai, Ocutherapy, Schedulock, Swob, Thinkwire, werkapp.
9. Leaf Forward
- Description: “Leaf Forward is the global launchpad for cannabis innovation."
- Sectors / Markets of Focus: Cannabis.
- Leaf Forward Requirements: They welcome innovative cannabis startups.
- Leaf Forward Deal Terms: An investment of up to $75,000. Startups will participate in a 16-week acceleration program to scale their business and receive mentorship from industry leaders and experts.
- Notable Leaf Forward Alumni: BRNT Designs, Eddy Delivery, Livli Supplements, Mary Agrotechnologies, Motif Labs, Munchy Brothers, Sacred Leaf.
10. NEXT Canada
- Description: “Accelerating Innovation. Enabling startups and corporations to create the future faster.”
- Sectors / Markets of Focus: All tech or tech-enabled businesses.
- NEXT Canada Requirements: Being an innovative Canadian entrepreneur looking to make a significant impact on local and global prosperity.
- NEXT Canada Deal Terms: They offer several programs which include mentorships, education, networking opportunities and access to funding.
- Notable NEXT Canada Alumni: Destin AI (Founder Institute Alum), Makeup for Melanin Girls (FI Alum), VillageTech (FI Alum), Bridgit, Ecopackers, Feroot Privacy, Focals by North, Kira Talent, SeamlessMD.
11. OneEleven
- Description: “OneEleven is home to a community of high-performing technology scaleups. Membership in OneEleven unlocks unparalleled access to a highly-curated peer network, investment capital, best-in-class partners, on-demand services, and strategic support designed specifically to help businesses successfully navigate periods of substantial growth.”
- Sectors / Markets of Focus: All tech or tech-enabled businesses.
- OneEleven Requirements: Innovative startups looking to scale.
- OneEleven Deal Terms: Startups will have access to investors, a close-knit peer community to support each other, resources and perks from partners.
- Notable OneEleven Members or Alumni: Borrowell, Herb, KOHO, LocationGenius, Opencare, PostBeyond, Twentify, Wealthsimple, Cinchy (Techstars Alum)
12. Ryerson DMZ Accelerator
- Description: “The DMZ is a world leading accelerator for tech startups in Canada. We help startups build great businesses by connecting them with customers, capital, experts and a community of entrepreneurs and influencers. For us, this means creating an environment where you can focus on scaling your business. We help with the rest.”
- Sectors / Markets of Focus: All tech or tech-enabled businesses.
- Ryerson DMZ Accelerator Requirements: Working with high-potential Canadian startups who want to grow and scale their business.
- Ryerson DMZ Accelerator Deal Terms: Startups participate in a fast-paced, 3.5 month program with access to coaching and mentorship from industry leaders, growth and investment opportunities; plus, a workspace and a supportive community to help startups scale.
- Notable Ryerson DMZ Accelerator Alumni: FleetOps, Kepler Communications, LiveGauge, Rumie Initiative, Squiggle Park, Zensurance, Cinchy (Techstars Alum)
13. Startup Boost Toronto
- Description: “Welcome to Startup Boost Toronto. Our ethos is to lead pre-seed stage startups towards Accelerators, Investment, and/or Revenue (AIR).”
- Sectors / Markets of Focus: All tech or tech-enabled businesses.
- Startup Boost Toronto Requirements: They are looking for early stage entrepreneurs.
- Startup Boost Toronto Deal Terms: It’s a 6 week program that involves mentorship and coaching on different topics (pitching, customer development, market size, etc.) to help startups grow.
- Notable Startup Boost Alumni: Sampler
14. Techstars
- Description: “The Techstars Toronto Accelerator is Techstars’ first Canadian accelerator program. It has a horizontal focus & will operate similar to our other city programs. The Toronto-Waterloo/Kitchener startup market is full of innovation, mentors & capital – the exact ingredients for a successful accelerator. Techstars Toronto is delivered in partnership with Real Ventures, Canada’s most active early stage venture fund, for their assistance in making this happen.” The program is led by Sunil Sharma, a titan of the Toronto startup ecosystem who has coached many of Toronto's most successful companies.
- Sectors / Markets of Focus: All tech or tech-enabled businesses.
- Techstars Requirements: They are looking for strong and balanced teams who possess a wide array of skill sets.
- Techstars Deal Terms: Startups are offered a $100,000 convertible note; plus, Techstars contributes $20,000 USD to support living expenses during the accelerator program for which Techstars receives a 6% equity until the startup raises a priced equity financing of $250,000 USD or more.
- Notable Techstars Alumni: Curv AI, Flipd, Kepler Communications, Mosaic Manufacturing, Onion.io, Pitstop, Robin, Sprout, Switchboard, Tread.io, Wisk.ai, Cinchy, Distributed ID, Kitchenmate, Vacation Fund (Founder Institute Alum)
15. The Hub
- Description: “The Hub is U of T Scarborough’s startup incubator. We help students and recent alumni from all disciplines launch successful business ideas. Located at Highland Hall, we provide our resident entrepreneurs with coaching, workshops, work space, and (where possible) seed capital to get started.”
- Sectors / Markets of Focus: All tech or tech-enabled businesses.
- The Hub Requirements: Being a U of T Scarborough student or alumni with an innovative idea .
- The Hub Deal Terms: The Hub provides a coworking space, mentorship, workshops and coaching to build ideas and launch products; plus, access to resources and seed capital.
- Notable The Hub Alumni: CheaprEats, Flipd (Techstars Alum), Genecis, Korsall, StageKeep.
16. The Next 36
- Description: “Next 36 is a program that accelerates the growth of Canada’s most talented young entrepreneurs by providing mentorship, capital, and unparalleled founder development. Each year, we choose 36 young Canadian innovators and challenge them to build a new business venture or iterate and scale an existing idea with enormous potential.”
- Sectors / Markets of Focus: All tech or tech-enabled businesses.
- The Next 36 Requirements: Open to university students in their last two years of study or those who have graduated within the past two years. They want innovators who are looking to build startups that will cause a significant global impact.
- The Next 36 Deal Terms: An investment of up to $80,000 throughout the program for an equity of 4.7%.The program includes workshops, mentorship, connections with fellow entrepreneurs, access to industry experts and partner resources.
- Notable The Next 36 Alumni: Bridgit, Ecopackers, SeamlessMD.
17. UTEST
- Description: “The UTEST Program provides support to University of Toronto entrepreneurs to create research based companies. In partnership with MaRS Innovation and with the financial support of the Connaught Fund, it provides companies with investment capital, mentoring, business strategy and incubation space at the University of Toronto St. George Campus.”
- Sectors / Markets of Focus: All tech or tech-enabled businesses.
- UTEST Requirements: Current U of T students and faculty members; also, alumni (graduated within the past two years) and applicants from U of T-affiliated hospitals will be accepted.
- UTEST Deal Terms: An investment of up to $100,000 with the possibility of a follow up investment of up to $500,000. Entrepreneurs will participate in a 12 month program where they will have access to a dedicated workspace, an intensive entrepreneurial education program, a network of support, mentors and investors.
- Notable UTEST Alumni: Crowdmark, Deep Genomics, eQOL, FlatFab, Hypercare, Mutuo, ODAIA.ai, Safehouse, TrendMD, Whirlscape, XESTO.
