What You Need to Know About the Best Business Sectors in Canada
If you’re looking for the best start-up sectors and ideas in Canada to get involved with, this is a great place to start.
It’s no secret that Canada is a hotspot for start-ups. But what are the most popular sectors in which Canadian entrepreneurs are starting businesses? The best start-up sectors in Canada vary depending on who you ask. They range from food and beverage to fintech to education and everything in between.
To give you some clarity, we’ve listed some of the popular sectors in which people have started businesses in Canada in recent years:
AgriTech
The future of agriculture is in Canada. The country has become the center for innovation, research, and development on this subject matter with its rich landscape that provides natural resources.
The agricultural and agri-food sector is a vital part of Canada’s economy, impacting both North America as well as the world. Southern Alberta (Calgary), Edmonton, and British Columbia’s Fraser Valley are home to nutrients that help to feed Canada’s growing population but also have rich farming traditions dating back many centuries ago when indigenous people farmed corn on these very lands before European settlers arrived from Europe.
With its bright future in agriculture, Canada is the finest place to start an innovative business and expect growth.
Business Ideas
- Developing a technology that provides data and analytics that increase crop value for fruit and vegetable growers
- Providing water treatment solutions for the recovery of phosphorus, nitrogen & fertilizers from agricultural wastewater streams
Livestock
Business Ideas
- Developing solar-powered sensors that provide insight for feed-mills and vertical integrators.
- Building connected solutions platform that will monitor and collect data from sensors, controllers cloud servers using AI algorithms for analysis in real-time.
Artificial Intelligence
Canada has cemented itself as a global leader in Artificial Intelligence thanks to exceptional talent, stellar research institutions, and the decision by the government that it would be an important strategic priority.
Canada has a growing AI ecosystem that will soon be defined by unparalleled government support. The Scale Supercluster, located in Quebec and spanning the Montreal-Waterloo corridor is dedicated to bringing together retail sectors with manufacturing/transportation infrastructure ICT networks for an intelligent supply chain. The future of Canada’s Artificial Intelligence Ecosystem lies within this secret project called “Supercluster”. It’s so powerful it can change how we live like human beings!
Business Ideas
- The potential for artificial intelligence (AI) in waste management is immense. From sorting the types of wastes entering landfills to estimating their weight, AI holds great promise as it becomes better at identifying specific items with greater accuracy than humans ever could alone
- To help detect and monitor cognitive diseases, a novel AI technology can quickly quantify speech patterns. This machine learning system is considered to be very accurate in its assessment of the mentally ill patient's condition because it takes into account not only what they say but also how often someone says something as well their tone when speaking with others around them.
Blockchain
Canada has become one of the world’s top five countries for blockchain and cryptocurrency. Despite late adoption, experts believe that Canada provides all favorable conditions for success as a hub in this space due to its well-comprehensive regulation combined with strong investment incentives from companies like RBC who are actively involved within digital currency industry sectors.
Canada offers low energy costs, an approach that balances regulation with speediness in super-fast internet service which is all essential ingredients for success within this industry!
Business Ideas
- Developing a consumer-focused flow blockchain product that's made for fun and games, as well as a digital collectible support system
- Creating an interoperability software that will connect blockchains, applications, and users across different networks.
Clean Technology
The government of Canada has prioritized clean technology innovation. With massive economic potential, they aim to support the development and advancement of this sector through investments in research & development as well policies that encourage greener practices at home.
Ontario is one of Canada’s most progressive states when it comes to clean technology. The capital city, Toronto has a high number and variety of scientists who are constantly coming up with new ideas for sustainable solutions that will benefit our environment as well as any other problems they may have been working on too!
The Canadian government is committed to developing clean technology and has made it one of its top priorities. They provide all the necessary resources for this growth, including tax incentives that have helped fuel a booming industry in electric cars among others things!
Business Ideas
- Aluminum and steel manufacturing industries are notoriously carbon dioxide emitting, so building scrubbing systems to pull out the pollution for good is beneficial.
- Hybrids are the future of trucking. Not only do they help with fuel consumption and gas emissions, but their safety features make them a great investment for any company that needs to be environmentally conscious!
Cybersecurity
Ontario’s cybersecurity sector is one of the most robust in the world.
The digital technologies that shape our lives today were not always available or affordable. They’ve become essential for innovation and growth because they empower people every day with new ideas, products & services across many sectors including enterprise software development. The cybersecurity industry in Ontario is booming, and it’s thanks to the hundreds of startups that have popped up. The Herjavec Group was one such firm that found success here after they were founded by entrepreneurs with local knowledge about what makes this province great for innovation—and now their company has grown into something massive!
Business Ideas
- Building AI-powered products with privacy as a priority. Creating algorithms that not only interact with people in ways they want but also protect their privacy.
- Cyber-security and risk management solutions that protect sensitive data, IT systems, and applications.
Education
EdTech is the combined use of technology and educational theories to facilitate student learning. It’s an industry that includes early-stage startups, middle-market companies with publicly traded firms like Apple or Google who are looking for growth opportunities in this growing field–but it also attracts veterans from other industries because they see value there too!
Business Ideas
- Developing an educational app that offers solutions for engaging classrooms and managing content for improving the learning experience.
- Building a learning management system for schools and universities to organize lessons, tests, assignments in an easy-to-use interface. Helping them with tracking student progress as well as providing reporting tools that can be used by teachers or parents alike so they know how the individual hasn't been doing on certain topics before it's too late!
Energy
Canada’s energy sector has been heralded as a critical part of the economy, even though oil and gas production is one of Canada’s largest contributors to greenhouse gas emissions. The energy sector contributes to the Canadian economy not just through GDP contributions but also in terms of corporate taxes paid by companies that extract resources like natural gas or crude oil from beneath our feet.
Business Ideas
- Designing and developing thermostats for residential applications, and commercial installation. Designing the necessary components to make sure they meet energy consumption standards as well as provide optimal comfort levels in environments where people will be using them.
- With the help of a proprietary platform, oil producers can use the latest innovations in lightweight sensors to automatically optimize well assets and increase production. By doing this they will be able to reduce costs both operational as well maintenance-related expenses!
FinTech
The past few years have seen a huge wave of change in the finance industry. The global financial services sector is being reshaped by regulatory reform, consolidation, and technological advancements that are unprecedented for their scope throughout human history!
Ontario’s financial services companies are concentrated in downtown Toronto, close to IT and other professional service providers. This makes it an ideal place for investors who want stability with a strong innovation ecosystem to support their businesses needs.
It’s one of Canada’s top priorities to help innovative businesses expand their geographical footprint or build new companies in this booming sector by offering them access to not only rich resources but also fresh minds eager for collaboration.
Business Ideas
- When it comes to providing loans, there are many banks and lenders. However, providing financing for your business in return for a percentage or part ownership during revenue-generating months is a unique business idea.
- Cryptocurrencies are becoming more and more popular with the everyday person. There is a huge need for companies, who offer investment opportunities in this space that can't yet be found by traditional means of finance such as stocks or bonds markets because they're new!
Healthcare
Canada’s healthcare workers are under a lot of stress, and this pressure won’t fade anytime soon. In the COVID-19 pandemic, there was a fear that Canada’s hospitals could collapse due to an unpredicted number of patients seeking treatment for Covid-19 at clinics or hospitals across our country.
The healthcare industry is going through a transformation and it’s up to you, an entrepreneur with innovative skills in your portfolio of work or personal life if this sector will survive. The government of Canada wants people who can bring new ideas for speeding medical services as well as making them efficient so they welcome anyone interested!
The healthcare sector has been significantly behind the times when it comes to technology adoption, but COVID-19 accelerated this change. Over the next few years, we’ll see rapid investment in new innovations that are sure to bring about progress for all stakeholders.
Business Ideas
- Providing employees with the resources needed for healthier lifestyles, and giving management an easy solution so they can measure their impact!
- The future of acne therapy could be in people’s pockets! An application that provides users with an alternative to traditional healthcare solutions when treating their chronic skin conditions.
- Providing a modern, cloud-based platform that hospitals can use for educating their patients before surgery and engaging them throughout the process.
Health Informatics
Business Ideas
- Developing real-time decision-support solutions for healthcare, providing 360-degree visibility to hospital operations, and giving front-line leaders this information so they can make proactive decisions related to the running of their hospitals.
BioTech
Business Ideas
- Developing a project that aims to create a platform for engineering cell therapies that can remedy several intractable diseases.
- To make it easier for researchers and doctors worldwide, an automated production system needs to be developed to produce personalized patient-scale cell therapies.
Psychology or Mental Health
Business Ideas
- Developing a platform that prioritizes the needs and interests of women in business, while also investing in ventures with at least 51 percent female ownership. The idea is to create new models for social impact by empowering those who have been traditionally marginalized or overlooked: females everywhere!
- Developing a platform, where users could test how they react when they're in an uncomfortable situation.
Hospitality
The Canadian hospitality market was hit harder than most other commercial real estate asset classes during 2020. While the industry relies on business and leisure travel, conferences, or human interaction it is no surprise that they have been severely challenged by the COVID-19 pandemic.
Hoteliers should expect better times ahead as the industry has seen an uptick in vaccination efforts across America.
The future of travel will be different in 2022. The industry has been through disruption, but it’s not just slimmer – there are smarter and more innovative companies that have emerged from this difficult period to take on the world with their resilience as well cerebral approach towards business practices.
Business Ideas
- Providing a simple and effective way for people who are looking into booking their hotel stay, as well as those managing hotels in the market. The aim is to be able to find prices from multiple sources so that they can choose whoever has the best deal at any given time!
- A business providing a digital platform for airlines to be able to process electronic visas.
Legal
Legal Tech Start-ups are making legal solutions accessible during COVID-19. They’re sharing resources, information, and access to their products or services so consumers can find the best protection for themselves during this pandemic!
Business Ideas
- Developing a web-based, user-friendly platform that provides quick and affordable legal research services for lawyers. The system integrates all aspects of a firm's needs into one easy-to-use system so less time would be spent over sourcing key information from multiple sources, as well as saving money on printing costs by having everything at hand when it matters most!
Media & Entertainment
Canada has one of the world’s most innovative, cost-effective, and talented creative industries ecosystems–and investors know it. From best-selling video games to Hollywood blockbusters Canada is undeniably diverse with an extensive portfolio that covers all areas.
Business Ideas
- The best way to grow a business is through quality media that help the business reach more customers. Helping with everything from print ads, social posts, and website design so people know exactly who they're buying from!
Real Estate
The cutting edge of Canadian technology is on full display when you visit this country. From start-ups to giants, there are countless opportunities for anyone with an innovative mind or business savvy!
Proptech is quickly becoming a driving force in Canada and its innovations are sure to have an impact on commercial real estate growth. The future of properties seems bright because governments across all borders want more from these companies than they do traditional firms.
Business Ideas
- Providing booking platform for short-term private spaces aggregating places like offices, classrooms meeting rooms, etc through partnerships with owner-managers.
- A new way to find the dream home with just one click of the mouse or tap on the phone screen. An app that offers features such as browsing by price range (from inexpensive homes right up through luxury properties), size/shape preferences like ranch-style houses vs condominiums.
Sports
The Accelerating Growth of Media & Sports Startups program is Canada’s first-ever attempt at providing incentives for entrepreneurs who want to make it big in this industry.
Business Ideas
- To stay on top of your game, Being able to use all the tools at once is an advantage. Building a mobile sports experience that provides real-time news and scores as well as fantasy information.
- Developing a business that helps users to follow their favorite teams, listen in on real-time commentary about the games that are being played, and get alerts when a score changes or if there's an important update.
Transportation
Canada has the great fortune to be in an amazing geographical location. It is strategically positioned and specializes as a gateway between North America, Europe/Africa trade routes that will never go away no matter what happens with China’s influence on global politics or economics for decades into future centuries!
Business Ideas
- Data collection and management software provide transportation engineers with the ability to manage their projects. It also enables planners in this field of work, giving them full visibility on traffic patterns so they know how much time is left before a project deadline or meeting date approaches
- Imagine being able to take a multi-modal transit journey from, say New York City over here in San Francisco. You can plan your trip by combining various transport modes (including bus metro subway light rail streetcar train taxis bike-sharing scooters ferry).