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Tag: canada

  • Top Innovative Startups in Canada

    The startup scene in Canada has been growing in recent years, with a number of successful companies emerging in a variety of industries. Canada has a strong economy and a well-educated workforce, which has helped to create a favorable environment for startups. In addition, the government has implemented various initiatives to support the growth of startups, including funding programs and tax credits.

    The technology sector is particularly strong in Canada, with many startups focusing on areas such as artificial intelligence, cloud computing, and e-commerce. However, there are also a number of startups in other industries, such as healthcare, finance, and retail.

    Overall, the startup ecosystem in Canada is thriving and there are many opportunities for entrepreneurs to launch and grow successful companies.

    Every year around 95,000 new businesses are started in Canada, a few make a fortune. Let’s take a look at some of the Top successful Canadian Startups in 2023.

    1. Loopio
    2. Opencare
    3. Connected
    4. Ritual
    5. League
    6. Maple
    7. integrate.ai
    8. Borrowell
    9. Mejuri
    10. Ada

    1. Loopio

    Co-founder Zak Hemraj
    Founded 2014
    Headquarters Toronto, Ontario, Canada
    Industry Software Development
    Company size 201-500 employees
    Total Funding Amount $208.1 Mn

    Co-founder of Loopio | Zak Hemraj
    Co-founder of Loopio | Zak Hemraj

    Loopio is one of Canada’s Fastest Growing Companies with three-year revenue growth of 268%. It has been ranked in Canada’s Top Growing Companies consecutively for four years by Globe and Mail’s Report on Business. It has twice secured its spot on the Deloitte Technology Fast 50™ list and LinkedIn’s Top Startups.

    Loopio is a startup that helps companies answer RFPs, Security Questionnaires, and more. It helps the team to be very responsive, improves response quality, and helps them win more business.

    2. Opencare

    Co-founder Cameron Howieson
    Founded 2012
    Headquarters Toronto, ON, Canada
    Industry Health, Wellness & Fitness
    Company size 11-50 employees
    Total Funding Amount $24.6 Mn

    Co-founder of Opencare | Cameron Howieson
    Co-founder of Opencare | Cameron Howieson

    Open care’s vision is to connect users with top local dentists based on their own choices. It is a modern change that has a command over the traditional industry. Through connecting with specialized dentists in the area, Open care is highly focused on optimal health and is growing by leaps and bounds.

    Opencare has built a selected network of top-rated dentists across North America. They are committed to delivering outstanding oral wellness.

    3. Connected

    Co-founder Mike Stern
    Founded 2014
    Headquarters Toronto, Ontario, Canada
    Industry Software Development
    Company size 51-200 employees
    Total Funding Amount –

    Co-founder of Connected | Mike Stern
    Co-founder of Connected | Mike Stern

    Not particularly a design agency or consultant, Connected (now part of Thoughtworks) is a platform that helps brands build software products used in the research and development phase. The company has an access to a share option plan, where employees own shares in their company. It ranked one of LinkedIn’s top 25 startups, in Canada in 2019.

    Company culture is widely built. Each Connected employee experiences an equal amount of respect and as a result, Connected is considered the best workplace. And the greatness includes a house for each employee if needed, along with progressive competitions amongst the groups periodically.

    4. Ritual

    Co-founder Ray Reddy
    Founded 2014
    Headquarters Toronto, Ontario, Canada
    Industry Consumer Services
    Company size 201-500 employees
    Total Funding Amount $134.8 Mn

    Co-founder of Ritual | Ray Reddy
    Co-founder of Ritual | Ray Reddy

    Ritual is perhaps one of Canada’s best-known startup apps that helps users to get their pre-ordered foods from their favorite restaurants and coffee houses.  With Ritual, there is no need to fight the crowds or stand in long queues.

    Unlike India’s Zomato and Swiggy, this pre-ordering app is also known for its suitability and reliability. It also has the advantage of piggybacking on orders, where one of your mates can pick up more than one order on behalf of multiple people.

    5. League

    Founder Michael Serbinis
    Founded 2014
    Headquarters Toronto, Ontario, Canada
    Industry Hospitals and Health Care
    Company size 501-1,000 employees
    Total Funding Amount $171.1 Mn

    Founder of League | Michael Serbinis
    Founder of League | Michael Serbinis

    League is a one-to-one platform for employees to engage with their lifestyle, health, and benefit programs. According to Linked in’s annual rankings, the rapidly growing hub is counted in Canada’s top startups-three years running.

    Since its 7 years founding, League’s members have reached over 40 million and the company has raised $220 million to date. It grabbed The Next HealthTech Unicorn Award in 2021.

    6. Maple

    Co-founder Brett Belchetz
    Founded 2015
    Headquarters Toronto, Ontario, Canada
    Industry Hospitals and Health Care
    Company size 51-200 employees
    Total Funding Amount $71.7 Mn

    Co-founder of Maple | Brett Belchetz
    Co-founder of Maple | Brett Belchetz

    With Maple, you can connect with Canadian licensed doctors for medical help 24/7.  Online consultation isn’t new, but the Maple app takes things to a whole new level, providing immediate help from doctors and specialists.

    On the contrary, with the launch of Maple, it has become way too easier to deal with immediate medical support from the healthcare professionals of your choice. Notably, a click of a button away. The two most recent investors are Loblaw Companies Limited and RBC Ventures, and the company raised $73 million in a sequence of funding.

    7. integrate.ai

    Founder Steve Irvine
    Founded 2017
    Headquarters Toronto, Ontario, Canada
    Industry Software Development
    Company size 11-50 employees
    Total Funding Amount $49.6 Mn

    Founder of Integrate.ai | Steve Irvine
    Founder of Integrate.ai | Steve Irvine

    Integrate.ai is one of the most talked about cross-industry in today’s technological world, which implies machine learning and innovative intelligence to target customer necessities before it is felt. However, a lot of people have already started implementing this technology app to improve their quality and outputs.

    As customer data becomes increasingly on trend, integrate.ai became the world’s first AI-powered cross-industry intelligence network to master Design Certification. The Former Facebook and Instagram executive Steve Irvine is the founder and CEO of the company.

    8. Borrowell

    Founders Eva Wong, Andrew Graham
    Founded 2014
    Headquarters Toronto, Ontario, Canada
    Industry Financial Services
    Company size 51-200 employees
    Total Funding Amount $92 Mn

    Founders of Borrowell | Eva Wong, Andrew Graham
    Founders of Borrowell | Eva Wong, Andrew Graham

    Borrowell is a financial technology company that offers Canadians free access to their credit score, including recommendations for financial tips and tools to improve credit scores. Listed as the World’s top financial technology company for its transparency, Borrowell will be a trailblazer for many such factual ideas.

    Borrowell has been named one of the Best Workplaces in Canada every year since 2019. It has been recognized as Globe and Mail’s Top Growing Companies (2021), LinkedIn’s Top 15 Startups in Canada (2021), and CB Insights’ Top 250 Fintechs (2021). It is trusted by over 2 million Canadians.

    9. Mejuri

    Co-founder Noura Sakkijha
    Founded 2013
    Headquarters Toronto, Ontario, Canada
    Industry Retail Luxury Goods and Jewelry
    Company size 201-500 employees
    Total Funding Amount $28 Mn

    Co-founder of Mejuri | Noura Sakkijha
    Co-founder of Mejuri | Noura Sakkijha

    Mejuri is Canada’s most popular marketing-targeted company that deals directly with the consumer. Mejuri sells fine jewelry at comparatively-low prices and has expanded as a far-reaching jewelry house. The brand operates directly to consumers (online), to sell through brick-and-mortar storefronts. Re-launched in 2015, the company has female employees in maximum.

    “I founded Mejuri because I saw a jewelry industry that was built for men gifting women and not women celebrating themselves. To me, the truest expression of Mejuri is mutual uplift: all of us supporting each other, and you, our community, feeling empowered to invest in yourself and, in turn, the community around you.” – Noura Sakkijha, CEO

    10. Ada

    Co-founder Mike Murchison
    Founded 2016
    Headquarters Toronto, Ontario, Canada
    Industry Software Development
    Company size 201-500 employees
    Total Funding Amount $190.6 Mn

    Co-founder of Ada | Mike Murchison
    Co-founder of Ada | Mike Murchison

    Ada is an artificial intelligence where businesses are allowed to speak directly with prospective customers through a chat box. As mountains of businesses pile up, customers feel discomfort, and thereby any businesses in particular need to be properly explained and analyzed, to be able to make better business decisions.

    Ada’s growth has been augmented to date. To focus on issues of greater impact, Ada allows live agents too, providing a support role for any queries that customers have. It is recognized as one of the best leading customer service automation companies.

    Conclusion

    Canadian startups are growing abruptly, we see many new startups lining up in the space. Hence there is a sense of innovation to maintain a competitive edge, probably for the recognition of a leading sector and for the brand familiarity to reach across various platforms shortly.

    FAQs

    Is Canada good for a startup?

    Yes, Canada is a financially safe place to do business as it has a stable economy, and there is support from both the national and local levels for the startup.

    Which country is best for startups?

    The United States is considered the best country for startups.

    Which country has the most entrepreneurs?

    The United States has the most number of entrepreneurs.

    How many startups fail in Canada?

    Business failure statistics show that about 96% of small businesses survive for one full year, 85% survive for three years and 70% survive for five years.

  • Top 7 Unusual Tax Rules around the World

    Taxes have a very intriguing history around the globe! As we are well familiar with the fact that tax rules are essential for our country. Taxes are as certain as deaths. For the social welfare and development of any country, taxes are crucial and must be taken more promptly by its citizens. With such a serious entity of taxes, it’s quite surprising to know about those extremely unusual and weird taxes across the world. Did you know, some countries even charge taxes on prostitution? Weird, right?

    To sum up such weird and unusual tax rules across the globe, we have presented this article. Such unusual tax rules pass because of the sudden financial needs in order to fill up the gaps that occurred in budgets.

    Throughout the world’s history, numerous weird and unusual tax rules have been passed. Some fraction of these taxes were passed to generate additional revenue, whereas others were passed for social welfare purposes.

    Well, we can not turn down the tax rules due to the chances of arrests are pretty high. That’s why willingly or unwillingly, people do follow the tax rules and pay their fraction. Let’s begin with the most unusual tax rules around the globe.

    Germany: Tax deduction on Bribes
    Denmark: Cow Flatulence Tax
    Hungary: The Junk food Tax
    Britain: Films Tax Reduction
    Russia: Beard tax
    Canada: Cereal Toys Tax Reduction
    Ireland: Artist Tax Exemptions
    FAQ

    Germany: Tax deduction on Bribes

    According to German laws, bribery was legal in all sectors. This continued till 2002, after which various laws were passed and bribery became illegal. But, this isn’t the unusual part. Bribes were not only legal in Germany but it was also tax-deductible, published by Businessweek editorial of 1995.

    However, this wasn’t allowed when the briber or its recipient was involved in any kind of criminal offense or proceedings. On this note, bribery was restricted by the prosecution. This ended when Germany passed the public contracts of 20-30%. Germany made its proceedings of eliminating this tax deduction for bribery till 1999.

    Denmark: Cow Flatulence Tax

    A wide fraction of people believe the cause of greenhouse gasses is the black smoke coming from factories or the highway of Los Angeles but, Denmark holds a different perspective here! It believes the cause of greenhouse gases is cow gas.

    According to research and analysis, around 18% of Europe’s greenhouse gasses come from methane, released in cow gas because of the slow digestion of greens in the cow.

    To prevent the epidemic of greenhouse gas, caused by the cow fueled, several European countries passed tax charges on each cow. Thus, Denmark’s cows are worth $110.

    Hungary: The Junk Food Tax

    It’s quite shocking to know that some countries even charge taxes on packaged foods that are high in salt and sugar. Basically, on all junk foods. One such country is Hungary. This junk food tax is officially termed as ‘Public Health Product Tax‘, which adds up to around 20% more than the initial price.

    The government of Hungary basically prioritizes the healthy diet and assesses it to the citizens of having a better product choice. This results in around 59 to 73% of consumers eliminating junk foods from their lists.

    Britain: Films Tax Reduction

    Great Britain charges a distinct tax deduction to films that are based on British culture. Such films need to be registered to various authorities and would be rated according to their cultural content, practitioners, hubs, and contribution.

    Those films which are rated highly on the scale, get a tax reduction of 25 percent on the earnings generated by the films.

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    Russia: Beard tax

    It’s very unusual for Russia to introduce a beard tax. Well, it is true! In the times of Peter the Great who was known to be the most popular Czar of Russia. And he was the one who introduced the beard tax.

    Beard was the typical fare for a wide number of people in Chilly Russia. When Peter the Great visited Western Europe where he was intrigued by the barbarian culture and that’s when he decided to tax the bread. For keeping a beard, men had to give some token as in beard tax.

    Canada: Cereal Toys Tax Reduction

    One of the most fascinating things for a kid is to find the toy hidden in the cereal box. And Canada leaves no grounds to promote such packaging. That’s why it has provided tax breaks on cereal companies for putting a toy in the cereal box. This is unusual but at the same time, promotes kids’ welfare.

    Those cereal companies that hide a toy in their cereal box around our Northern Neighbor get a reduction on the extra tax.

    Ireland: Artist Tax Exemptions

    For artists, managing their economic status is quite tough and often leaves them starving. But in Ireland, artists from all categories including sculptures, writers, composers, and visual artists who sell their work are not compelled to pay the income tax.

    For getting such tax exemption, the artists have to file a lawsuit for their original work under the tax authorities of Ireland. They further check and provide the final statement on whether the work is original, valuable, and passes the cultural merits or not.

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    Conclusion

    The history of tax rules is quite intriguing as well as unusual. And still, such unusual taxes are available in many countries across the globe. In fact, in historical times taxes were charged on cooking oils or beards. Every country has its distinct tax rules based on the country’s requirements or culture. Through this article, we did our best in covering such unusual and weird tax rules across the globe.

    FAQ

    Which countries are tax-free?

    Bermuda, Monaco, the Bahamas, Andorra and the United Arab Emirates (UAE) are tax-free countries.

    What are examples of hidden taxes?

    taxes on cigarettes, alcohol, gambling, gasoline and hotel rooms are some of the examples of hidden taxes.

    What are some weird taxes around the world

    Cow Tax, Junk Food Tax and Tax on bribe are some of the weird taxes in history.

  • Top 10 Startup Friendly Countries for Budding Entrepreneurs

    Dreaming about beginning a company abroad and hunting for the world’s most startup friendly countries?   It has never been easier to launch a company abroad in today’s globalized economy. It is worth investing in exploring the right place to suit your business if you are thinking about beginning a startup abroad. Even if it’s not as straightforward as it seems to us everybody knows that starting a business is always a company.

    Think and Decide
    Think and Decide 

    A startup will thrive in many ways including dedication, inspiration, creativity, talented workers, aspiring leaders, and, of course, an outstanding concept. Investments, accelerators, and incubators funding and a solid and well-developed ecosystem should also be made readily available. Tax incentives for entrepreneurs and government funding should also be offered in order to achieve their dreams and to take chances on the road to growth. There are several aspects deciding what makes a country that is ideal for start-ups.

    Keeping all these factors in considerations, here are the top 10 startup-friendly countries:

    1. Germany

    Germany Flag
    Germany Flag 

    Germany is the fourth-largest economy in the world and the largest in Europe. It provides a competitive funding climate for start-ups, a clear organizational culture, and a well-trained workforce. English is widely spoken all over, making creating a global corporation smoother and attracting diverse skills. Germany gives start-ups favorable funding choices and straightforward corporate culture. German firms are funded by the most popular foreign investors including Earlybird VC, Ciaran O’Leary, etc. In addition, the nation has a highly trained population, global ties, a skilled workforce, and a sophisticated infrastructure.

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    2. Japan

    Japan Flag
    Japan Flag

    A reputation for conservativeness, old fashion and risk-averse in the Japanese marketplace. Yet this mentality is evolving and it has made the entrepreneurship community expand rapidly. In 2018 it began the ambitious J-Startup program aimed at generating 20 unicorns or listed companies by 2023. There are roughly 10,000 start-ups in the world according to the Japanese Ministry of Economics. This has been possible through creative thinking, technology skills, advanced networks, a well-trained ex-pat population, competent staff, etc. This has been possible.

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    3. The United States of America

    United States of America Flag
    United States of America Flag

    As the nation has a well-evolving community and a long tradition of entrepreneurship, the U.S. is not new to the innovation ecosystem. Silicon Valley is known around the country for its world-famous start-up center, as are Atlanta, New York, Austin, San Diego, San Francisco, and others. As a result, several people decide to immigrate to the US in order to start a business. Some of the best examples of successful start-ups are Google, Uber, and Facebook. The amount of financing given to young ventures has increased, leading to the growth of entrepreneurship.

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    4. United Kingdom

    United Kingdom Flag
    United Kingdom Flag

    The UK is well known for numerous technology start-ups. Britain is now famous for its presence in colleges of world-class and a diverse pool of foreign talent. The UK startup community has not ceased manufacturing creative businesses like Revolut, Move Wise, and Perkbox amid shaky talks on Brexit and an unpredictable future. Start-ups in the United Kingdom profit from Europe’s highest population of English, easy business entry, and highly trained, highly skilled workers. The British new technology economy is full of talent to choose from, with a population of 2.1 million.

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    5. Canada

    Canada Flag
    Canada Flag

    Canada gives founders and start-ups a comprehensive support structure that includes a wealth of activities and programs. Increase business practices, trained people, a well-developed facility and competitive foreign exchange rates are open to Canadian start-ups and more. With many seeing it as one of the most appreciated countries in the world not only to develop a corporation but to establish families and raise children, Canada has become one of the best locations. It may be a powerful company, access to a wide talent pool, or welcome, but it seems that Canada is gaining a lot of fame as one of the most promising countries on a business trip.

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    6. Switzerland

    Switzerland Flag
    Switzerland Flag

    Switzerland is regarded as a tranquil paradise with magnificent lakes, glaciers, and mountains. However, elegance does not keep the European start-up community from being broken. According to this assessment, the fact that a company starts in Switzerland has more positive than negative implications, so it is a very good chance for entry into a stable market with access to the European markets in order to be stable, creative, and productive, it helps you to test your product or service in a multicultural environment. Thanks to the presence of a trained population, a well-established regulatory environment, and quick access to capital for enterprises, the country has a successful startup ecosystem.

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    7. Sweden

    Sweden Flag

    Sweden is a unicorn factory in the industry as it is home to valuable industries across the world. There is a tiny domestic market in the world, which pushes start-ups and entrepreneurs to think internationally from the beginning and take them to high levels. Despite Stockholm, the capital city of Sweden, which is per capita the second most active technology center of the world after Silicon Valley, many consider that the Swedish economy is being powered by big companies. However, 99% of all companies in Sweden are small firms, currently hiring four out of five individuals.

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    8. Australia

    Australia Flag
    Australia Flag

    Australia is in the Royal proclamation. There are also several islands in the world, particularly Tasmania. The area was settled by aboriginal people at least 40,000 years before the first British settlers in the 1700s. Australia ranks fifth when it comes to women entrepreneurship, one of the world’s most start-up-friendly countries. It was reported that either migrants or their children founded 57% of start-ups in the country and 20% of workers are foreign talent. Australia has achieved a well-built community, infrastructure, and regulatory system in terms of education. Australia has scored.

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    9. South Korea

    South Korea Flag
    South Korea Flag

    Opposition to the southern part of the Korean Peninsula South Korea, formally the Republic of Korea, is a region with a long tradition of violence in Eastern Asia. Freed from Japan at the conclusion of World War II in 1945, South Korea was occupied in North Korea a couple of years later by Communist Forces. South Korea has experienced rapid economic growth and is now the world’s 11th largest economy. In recent years, there has been an immense increase in the country’s technology start-up ecosystem. With the various investments of these start-ups, this is likely. In 2017, 2.38 trillion start-ups were spent, and by 2018 hit 3.42 trillion.

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    10. Singapore

    Singapore Flag
    Singapore Flag

    Singapore is the busiest metropolis in Southeast Asia and home to one of the world’s most busy ports, established as a British trading colony in the 19th century. On the eponymous capital island, the vast majority of its 5,7 million people remain, and the city-state is complete by hundreds of neighboring islands. The government encourages startups with large incentives and creative policies favorably. In addition, Singapore has an advanced ecosystem of entrepreneurs with multiple incubators and accelerators. More than 150 risk capital investors in the country are also responsible for the growth of these start-ups.

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    Conclusion

    Various aspects contribute to an environment of diverse entrepreneurs. Firstly, government funding in the form of monetary benefits and other programs must be consistent. The next key consideration is unimpeded access to highly trained and eligible workers. The country’s position is also significant, as it can make foreign markets easier for companies to enter.