Entrevestor’s research charts the evolution of the Atlantic Canadian startup community.
Here is the East Coast startup cluster, by the numbers.
Data on the Atlantic Canadian Startup Community
Number of startups
The number of companies we're tracking rose 23 percent in 2019, the strongest growth we've witnessed.
New Companies
There was a surge in new startups in 2019, 43 percent more than the previous record.
Failures
The number of failures declined in 2019 but will no doubt rise in 2020.
Employment
We estimate 6,500 people worked for startups in 2019, roughly double the number in 2016.
Funding
Because of the massive funding by Verafin, funding by Atlantic Canadian startups hit an all-time high.
Angel funding
The 26 percent drop in angel funding in 2019 shows the worrying trend in early-stage financing.
Revenues
Companies have reported revenue-growth of at least 70 percent in each of the last three years.
Entrevestor produces data and news on Atlantic Canadian startups – which we define as locally owned companies that are commercializing innovation and creating products for the global market. Click the covers below and read the PDFs of our previous data reports.
This report would not have been possible without the support of numerous organizations, and we would like to thank the following for their help:
Platinum Partners:
Gold Partners:
