September 15, 2015
The Toronto-Waterloo corridor comprises nearly half of Ontario's population (about 6 million people) and is an integral part of North America's second largest ICT cluster (next to California). The corridor is home to 30% of Canada's university students and 21% of the country's population, according to Klugman. Moreover, it has helped Ontario improve from 14th to eighth in attraction of venture capital, while capturing more foreign capital investment than any other North American jurisdiction for the past two years. "There is an army of entrepreneurs in Ontario that are determined to leverage every resource they can get their hands on to be successful," says Iain Klugman, CEO of Communitech in Waterloo. Klugman also believes the Toronto-Waterloo corridor already has many of the essential ingredients for building 'a Silicon Valley-like innovation super ecosystem' in Canada.
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