Elevate global learning standards
by starting up in Toronto
Revolutionizing education with technology
The education sector changed overnight during the pandemic. The industry was forced to adapt – fast. This has led to exponential growth in the global EdTech industry. In 2010, the industry was considered niche; it raised venture capital funding of approximately US $500 million, whereas in 2021, the funding surged to US $16.1 billion. Forecasts indicate the trajectory will remain continuous, with an annual growth rate of 16.5% from 2022 to 2030. By 2025, the market is expected to be worth $404 billion.
As of July 29, 2022, there are 36 EdTech unicorns worldwide. Among the regions, North America dominates the sector, receiving 35% of the global revenue due to substantial investments in EdTech.
The future of EdTech is driven by the demand for workforce education (professional or corporate education and upskilling) and the impact of mobile devices. Innovations like gamification will continue to be popular; 84% of respondents confirm that their learning process feels more enhanced with this approach.
A driver of growth and innovation in the EdTech environment
The Canadian EdTech industry has seen remarkable growth and transformation over recent years, with total revenues reaching CA $2.31 billion in 2023. The pre-K-12 and K-12 segments continue to dominate the market, accounting for 57.9% of the total market value.
The online education market in Canada is also particularly thriving with online university education alone expected to generate approx CA $7.4 billion in 2024 with the number of users expected to reach 9.9 million by 2029.
This is evidenced by the Pan-Canadian Digital Learning Surveys, conducted in 2023 that indicated a strong trend towards greater technology integration in teaching and learning. In this survey, both faculty and students expressed a desire for more flexible learning options beyond solely online or in-person courses, with key findings revealing that technology use in education is likely to grow over the next two years, due to factors such as distance from campus, transportation issues, modality preferences and faculty burnout.
Many Canadian EdTech players are already solving for these gaps in the market; notable players like Coursera, ApplyBoard, D2L, and Top Hat, have established themselves as well-known Canadian exports to international markets, whilst a new wave of innovative startups are also making their mark, such as Wize, DigitalEd and Tech Spark Canada.
Several futuristic trends continue to shape the future of EdTech in Canada, driven by evolving societal needs and technological advancements:
Committed to fostering innovation and advancement in education
Ontario’s dedication to increasing the quality and availability of virtual learning efforts also highlights its commitment to advancing its Intellectual Property Action Plan. This creates a conducive environment for EdTech startups to innovate and create transformative educational technologies while receiving support from the government.
There is also a major strategic advantage in Ontario because of the ability to develop high-quality solutions in both English and French.
Certain regions in Ontario stand out as prime locations for EdTech startups due to their unique advantages for B2C and B2B ventures. Regions with large school districts, such as Toronto, Ottawa and Peel offer excellent prospects for B2C EdTech startups, as they provide access to a substantial student population and educational institutions. Simultaneously, regions with thriving business landscapes, like the Greater Toronto Area (GTA) and Waterloo Region, offer many businesses and corporate clients for EdTech companies aiming to provide tailored corporate training solutions and innovative educational technologies.
London, Ontario is also a great emerging market, nationally recognized as a test market city; it offers an ideal environment for companies to develop and launch new tech products and services. London ranked #10 on CBRE’s “Next 25” tech hubs in North America for the 2nd year in a row, having doubled its tech employment in the past five years.
Startups looking to build EdTech products and services in Ontario can benefit from the province’s endless supply of high-quality tech talent. Ontario is North America’s second-largest tech cluster; 48% of Canada’s IT professionals reside here. The Toronto-Waterloo corridor has an impressive tech ecosystem with 16 universities and colleges, 15,000 tech companies, and 5,200 startups. The abundance of tech workers in this region is nearly equivalent to that of New York City. At its current growth rates, the corridor is set to surpass New York City in tech workforce numbers within the next few years.
Canada’s trade agreements cover markets valued at over US $50 trillion with 1.7 billion consumers. Canada has free trade agreements with the largest manufacturing markets in the world: the United States (USMCA), the European Union (CETA) and Asia-Pacific (CPTPP).
Your business can have access to 187 million consumers within a day’s drive of the Greater Toronto Area. Ontario has 4 international and 300 regional airports, 250,000 km of roads and highways, a dozen border crossings and the 6th most internationally connected airport in the world.
See all of our programs and find out how TBDC can maximize the potential in your EdTech business.
Largest EdTech
sector in Canada
in investment and virtual learning in EdTech
established and recent startups
of secondary schools use technology in classes
of schools fundraise for technology
schools, colleges and universities
Funding, Resources and Organizations
Using the Business Benefit Finder, you can find many more government grants and incentives relevant to your tech startup.
is a non-profit society focused on being a leading advocate for K-12 online and blended learning success. It offers networking, collaboration, and research opportunities to its members. Visit Site
is a charitable entity dedicated to promoting and elevating public education through research, policy development, and public participation. Visit Site
