Toronto has established itself as one of the worlds premier tech hubs, with the University of Toronto making key contributions to an innovation ecosystem that is flush with talent and welcoming to startups and tech giants alike, according to a leadingDutchfinancial newspaper.
Thefeature article inHet Financieele Dagblad, or FD,explores the strengths of Torontos tech scene and echoes observations made earlier this year by the New York Times.Many people who have lived in Toronto for years feel a confidence in the city that wasnt there five or six years ago, Jon French, director of U of T Entrepreneurship, tells the paper (according to a translation).
That growing confidence, FD reports, is exemplified bytech entrepreneurs increasingly choosing to stay in Toronto attracted by the citys livability, diversity and talent pool rather than move to Silicon Valley. "When I studied in Toronto, about 10 years ago, there was a perception that you had to go to California or New York to make a career," Nick Frosst, co-founder of AI language processing startup Cohere, told FD. I hardly hear that myth anymore. Fellow students who have stayed in Canada have built just as good careers as those who left for the U.S.
FD highlights the seminal contributions of University Professor Emeritus Geoffrey Hintonin helping build Torontos status as a tech hub, through both hispioneering deep learning research and co-founding of theVector Institute for Artificial Intelligence. It also cites the upcoming Schwartz Reisman Innovation Campus as an example of how institutions like U of T are fueling Torontos tech boom.
The newspaperalso notes how the influx of tech giants like Google, Amazon, Microsoftand Meta to Torontois leading to a brain gain as global tech talent pours into the region, aided by Canadas liberal immigration policies.
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