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Toronto Tech Boom

From BlogTo (yes, I know)


Summary: Toronto-based 1Password just completed a new round of financing that values it at 6.8BCAD
Currently home to 570 staff; its projecting to double that to over 1,100 over the next year.
 

TD Bank hiring 2,000 new technology employees amid growing demand for skilled workers


Jan 26, 2022

TD Bank Group says it plans to hire more than 2,000 people to fill new technology roles this year as it pushes further into areas like artificial intelligence and cloud-based operations.

The bank says the new positions will focus on technologies and processes to drive investments and power "the future of banking."

The hiring plans mark a jump from last year when it says it hired about 300 into technology roles, while overall the bank says the wave of hiring will boost its tech-focused employee base by some 15 to 20 per cent.

TD's hiring plans come amid an industry-wide focus on attracting and retaining technology skills.

 
Press release from Walmart about adding Toronto as one of its large global tech hubs.


BlogTO's headline might mislead that this is thousands of jobs.............it won't be, at least in the near-term.

Initial hiring (In Toronto) is 45 jobs; though reference is made to several hundred more hires in the relatively near term.
 
Press release from Walmart about adding Toronto as one of its large global tech hubs.


BlogTO's headline might mislead that this is thousands of jobs.............it won't be, at least in the near-term.

Initial hiring (In Toronto) is 45 jobs; though reference is made to several hundred more hires in the relatively near term.

I'm curious as to where the hub will be located...
 
HubSpot opens first Canadian office in Toronto

March 14, 2022

Hubspot has set its sights on expanding its presence in Canada, opening its first office in the country in Toronto.

The Cambridge, Massachusetts-based customer relationship management (CRM) platform company first announced its intent to expand to Ontario last fall, outlining plans to hire over 50 people in the province and establish a footprint in Toronto.

 
Given the statement from John Tory, I suspect he already knows it will be within the 416. I'm going with East Harbour.

Right this was my suspicious as well i.e. that it would be somewhere in the 416 given Tory's involvement.

But MCC would be logical too given their current Canadian HQ are there.


The other detail is at least initially we're really not talking about that many jobs (it was 40-50) and if I check current postings there don't seem to be that many (in the tech field that is). Which makes me think it would just be an extension of the existing HQ vs something brand new.
 
Right this was my suspicious as well i.e. that it would be somewhere in the 416 given Tory's involvement.

But MCC would be logical too given their current Canadian HQ are there.


The other detail is at least initially we're really not talking about that many jobs (it was 40-50) and if I check current postings there don't seem to be that many (in the tech field that is). Which makes me think it would just be an extension of the existing HQ vs something brand new.
Walmart's office is in Meadowvale, not MCC.
 
I would expect that they would have a satellite office in the core for tech workers as it is more attractive for the demo they want to recruit for those roles.
 
From NYT (behind paywall):


AoD

Its a good piece of medium length, which in its opening serves an intro to Americans/wider audience on Toronto's tech scene, with info most of us know, then gets a bit deeper in providing something of a whose who
on many of the key players, and startups of recent years.

***

A note on the NYT paywall. If you want to read any NYT story, simply google the headline. NYT articles are free to read when linked to through google directly as opposed to the NYT homepage.
 

Toronto ranked the 3rd-largest tech hub in North America


March 22, 2022

Tech analysts say Toronto has some key advantages that make it a magnet for tech talent. Canada’s immigration laws, for one, aid in the arrival of skilled and diverse tech talent to the city, offering global perspective.

“Over 50 per cent of the talent in Toronto is foreign-born and that is a huge advantage,” said Krista Jones, founding executive of Momentum and vice-president of Venture Success at MaRS Discovery District.

“The second part of it is the depth of work that our universities and research hubs do in terms of being able to produce the types of talent that is actually essential to the growth of the ecosystem.”

Yu agrees, knowing the benefits of those supports first hand.

“Without the supports that we received from the Toronto ecosystem as well as the government funds and the grants, literally all of this would still be rice cookers today,” Yu said, gesturing to the machines inside the Genecis facility.

It’s not just investment programs that make Toronto attractive, but the ‘tech-for-good’ values that the tech ecosystem in Toronto holds dear — values, Yu says, that made sense for her eco-minded employees.

“They can be joining Genecis and doing something that’s really transformative for the entire planet,” said Yu.

It’s that component — those core values that Toronto’s tech eco-system is focused on — that gives the city its cutting edge when it comes to attracting talent, Jones says.

“They’re not just building business,” said Jones. “They’re solving global problems and that’s actually what I think is our edge in the global tech wars that exist.”

Experts say that with the strong ecosystem of start-ups and large multi-national corporations moving into the region, there’s a chance this ‘quietly booming tech town’, as the New York Times’ article described Toronto, the fourth-largest North American city, could soon surpass Silicon Valley in some ways to become a global player.

“How we’re actually going to keep the talent going,” said Jones, “it’s actually by having the employment that the talent needs, because the more you can generate the companies and the destination places, the more you’ll be able to attract global talent into Canada.”

 

Facebook owner Meta to build Canadian engineering hub in Toronto, creating 2,500 new jobs


March 29, 2022

Meta Platforms Inc. — parent company of Facebook, Instagram and WhatsApp — announced plans to open a new Canadian engineering hub located in Toronto Tuesday afternoon.

The company says the new hub will provide 2,500 new openings over the next five years for both remote and in-office positions.

According to a statement issued Tuesday, the Toronto hub will introduce Canada's first WhatsApp, Messenger and Remote Presence engineering teams, while growing the existing Canadian Reality Labs and AI Research teams.

 

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