Onto Ontario Day 2 – It's a Barn-Raising Type of Place
May 02, 2013
For those who grew up in a farming community, the concept of a community barn-raising needs no explanation (for the rest there is Google). In our visit to the Waterloo-Kitchener area, it was clear that this approach is applied directly to the technology and startup scene there. It is the home of major companies like Research in Motion and Open Text, midsize tech companies like Desire2Learn and Kik Interactive, and a number of small ones too (locals say that two startups are launched every day). All of these businesses feel compelled to give back to the local community, and this goodwill is reciprocated through a variety of unique benefits.
A research scientist at the new Institute for Quantum Computing, a former professor twice the age of your typical first-time tech-company founder, and a successful entrepreneur now running a major tech company’s local office all independently cited the community-wide support and “you can do it” attitude as a major reason they are in the area. When you add in major universities long known for producing talented graduates and a strong entrepreneurial spirit, it’s clear something is happening in the Waterloo-Kitchener area of Ontario.
By Adley Bowden, PitchBook Director of Research
Click here to see a list of all the Ontario companies that have received VC backing.