Ontario
State · Canada · Pop. 15.6M · #19 region by EV
Adjacent regions by EV
Top sub-locations
Inside Ontario: top 3 metros
Metros inside Ontario ranked by combined enterprise value, paired with their 5-year growth multiplier.
Startup funnel
Ontario's power-law funnel
From the first cheque written to a $10B+ outcome. Each arrow shows what fraction of companies at one stage graduate to the next, tracked by founding cohort.
* C→Unicorn and Unicorn→Decacorn rates are derived from current counts (no founding-cohort data); the four mid-funnel rates use Dealroom's cohort tracking.
Notable companies
Top private companies in Ontario
Up to 20 names per tier from Dealroom's tracked dataset. Decacorns are valued $10B+, unicorns $1B+, thoroughbreds have crossed $100M in revenue.
Academia
Ontario's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Ontario.
Vs. similarly-sized ecosystems
How Ontario stacks up
Peers chosen from the same country (Canada), sized closest to Ontario by combined EV. The scatter plots growth × current size — outliers in the upper-right are ecosystems compounding fastest.
Top overview
Canada — top regions
Top regions in Canada ranked by combined EV. Ontario's row is highlighted.
| # | Ecosystem | Combined EV | 5-yr EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | Ontario | $379B | 14.8× | 36 | $2.8B | 4,279 |
| 2 | British Columbia | $82.4B | 9.6× | 22 | $1.3B | 2,031 |
| 3 | Quebec | $70.6B | 3.8× | 14 | $1B | 1,356 |
| 4 | Alberta | $24.8B | 4.7× | 8 | $380.7M | 1,174 |
| 5 | Newfoundland and Labrador | $3.9B | 68.4× | 1 | $86.2M | 58 |
| 6 | Nova Scotia | $3B | 6.3× | 0 | $163.3M | 237 |
| 7 | New Brunswick | $1.5B | 3.3× | 0 | $5.4M | 91 |
| 8 | Saskatchewan | $1.4B | 13.4× | 0 | $4M | 75 |
| 9 | Manitoba | $1.3B | 4.3× | 0 | $107.7M | 76 |
| 10 | Prince Edward Island | $104.6M | — | 0 | $5.4M | 17 |
Sector concentration
Where Ontario punches above its weight
Sectors in which Ontario's share of the global unicorn pool is bigger than its overall share. A 5× over-index means Ontario is 5× more represented in that sector than in the global average. Source: top-hub aggregation across the 18 simplified sectors.
Premium analytics
What we don't show on this page (yet)
Sector breakdowns, founder origins, AI-talent leaderboards and live deal flow are gated to logged-in Dealroom users. Book a demo to access the full Ontario dataset — or see a sample on the Dealroom app.
Get the full Ontario ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.