Let’s start with one of the finest arguments for choosing Montréal as the location of your startup: affordable housing. Montreal is one of the least expensive cities in North America to live in, according to Expatiating’s Cost of Living World Map.
It is rated 87th out of 93 North American cities and 174th overall. Compare Montréal to other well-known North American cities like San Francisco, which comes in at #4, New York City, which comes in at #5, and Toronto, which comes in at #57.
Montreal provides a major city environment and access to even greater cities with a reduced cost of living, while being relatively near to New York and Toronto. In terms of population, Toronto had 2.93 million people, compared to 1.78 million in Montreal.
Why is Montréal?
According to Bonjour Startup Mtl, a unique entrepreneurial ecosystem with a wealth of tools for startups and entrepreneurs, a population that is diverse and hails from all over the world are what set Montreal apart. There are many brilliant and imaginative people in Montreal. Really.
The path to launching a tech startup
This is the “classic” road to starting a technological company, and it’s the one you should choose if your idea requires a lot of resources, hardware, and R&D. The more time and resources you need to put a prototype or beta product out, the more planning is required. Make sure your company plan is sound; seek for investors; focus on development and production, etc.
Gather a team
We encourage you to get involved in the community and show up at Montréal startup events if you want to create a team that is located there. Even particular events regarding How to Launch a Startup in Montreal have been held in the past. Look at the Montreal in Technology events calendar, attend some events, and discuss your initiative there. Every last Wednesday of the month, Startup Drinks takes place and is a great location to start.
Consider looking at Les Pitonneux, which has frequent Code & Coffee sessions. It could be worthwhile to search on LinkedIn first to assemble your team. With the help of the advanced person search, you may narrow your search to certain individuals. Or, even better, sign up for some Montreal tech groups.
More resources to get started
If you want to concentrate on materials created in Montreal, have a look at Built in Montreal. Numerous tools and applications created by other Montreal entrepreneurs are available to aid you in your business endeavors. Below, you’ll find a list of some resources and businesses in Montreal that might be of assistance.
Building a prototype working with freelancers
You might choose to Hybrid jobs with freelancers prior to employing your first full-time staff. An excellent way to get started quickly is to build your MVP (Minimum Viable Product) or prototype with freelancers.
Upwork, a renowned freelancing platform with a broad range of specialties, and Toptal, which enables you to locate developers and experienced freelancers, are great places to find numerous local freelancers.
To locate independent developers and designers from Montréal, you might also wish to go through Linkedin or Github (search for Github Montreal Profiles on Google), Angel.co Montreal Startups, and Dribbble. Make contact with them, explain your concept in depth, and pique their interest.
Requests to sign NDAs and convoluted procedures should be avoided. Keep in mind that your concept is useless until it is carried out, and that building a fantastic execution team is much simpler if you are honest and open about it. As many people as you can should hear about it.
Low cost marketing for your startup
Some excellent marketing technology businesses that might be very helpful to your own company are located in Montreal. Or perhaps we should remark that several excellent marketing technology businesses are based in Quebec.
Sherbrooke-based Leadfox provides a fantastic technology for marketing automation. A programme called Dashthis, from Québec City, lets you manage and monitor your marketing activities on a lovely dashboard.
Incorporation, law and legal advice
Many Montreal-based businesses can offer legal services, from incorporation to mergers and acquisitions. For entrepreneurs, Brouillette & Partners and BCF are the most well-liked companies (specialized in patents and intellectual property). Robert Brouillette formed BCF, also known as Brouillette Charpentier Fortin.
He eventually left BCF to found Brouillette & Partners. Online information and assistance about incorporation are also available. If you are considering a US incorporation, Legallogik offers a startup kit, Revenu Québec contains information about launching a firm in Quebec, and you might also wish to look at incorporation in Delaware for Canadian companies.
Choose one of the large accounting firms if your business generates respectable sales (more than $2M), is selling, or you are thinking about obtaining capital in the US. Good examples are Deloitte, PwC, RCGT, BDO, or Richter. RCGT has always provided excellent service.
Office or Co-working spaces for remote job
Renting an office is not yet something that should be considered. There are several Co-working places in Montreal. Technology hub Notman House promotes Montreal’s startup environment by providing office space, hosting events, and hosting conferences. It’s a fantastic location to go to initially. You may use CoWorker to locate coworking spaces in and around Montreal.
Incubators, Accelerators, and VCs
A high-intensity program to jumpstart your business is Founder Fuel if you are interested in incubators and accelerators. A center for innovation is District3. For initiatives in tourism and entertainment, MTLab is excellent.
Fintech center Diagram and AI accelerator Techstars Montreal. If you decide to pursue venture capital in the future, you might wish to consider RealVentures, BDC, Desjardins Venture Capital, or iNovia Capital.
Montreal Tech Community
In Montreal, there are several tech groups. Visit Meetup for Montréal to locate your chosen tech group. Subscribe to Montreal New Tech and Montreal in Technology for the most recent news about Montreal startups.
Betakes and PlanetWeb both have some news on Montreal startups. On AngelList, you may also discover a list of startups in Montreal.
Although there are several models that can be used, Agile is the direction of quick, iterative development. Here, releases occur often and early, and immediate reaction times are desired. It also entails spending money on a fantastic product experience as opposed to intensive planning, selling, and marketing.