Invest Brampton

Brampton’s 2023 Economic Development report highlights record growth, with $2.3 billion in construction and 5.36 million square feet of approved development. With thriving areas like the Brampton Innovation District and the BHive incubator, Brampton is also advancing medical innovation through its MedTech Task Force and the upcoming Toronto Metropolitan University medical school. 

Invest Durham

Durham Region saw remarkable growth in 2023, attracting $250 million in investment and creating 3,000 jobs in Oshawa alone. Industrial permits set a record at $128 million, while construction permits across the region reached $639 million. Durham Region’s population grew by 9.3% over five years and is projected to reach 1.3 million by 2051. Notable projects include the all-Canadian electric vehicle Project Arrow and Durham College’s new EV training centre. 

Invest Halton

Halton Region’s 2023 economic review showcases $2.8 billion in construction permits, 3,300 new jobs, and 2.4 million square feet of industrial development. Oakville and Burlington led the charge, with Oakville seeing record industrial growth of over 2 million sq. ft. and $175 million in construction, alongside a booming film and TV production sector. Prime Minister Justin Trudeau recently visited Halton Region to promote housing development on public lands to support this fast-growing area. 

Invest Mississauga

Mississauga, a key economic hub for Ontario and Canada, welcomed 1,770 new jobs in 2023. The city launched SpinUp, its first venture incubator and wet lab for early-stage life sciences companies, alongside the existing IDEA Mississauga & IDEA Square One entrepreneurship hub. Recently named the top Canadian city for tech talent, Mississauga saw the largest influx of tech workers in Canada, with 1,900 new hires. The City’s Community Improvement Plan is transforming a former industrial area into a 20-acre innovation campus expected to generate 9,000 jobs in cleantech, life sciences, and tech. Mississauga also participated in international investment missions and hosted 12 EU consuls general. 

York Region Economic Strategy/York Link

York Region, home to over 1.2 million residents across nine cities and towns, is Ontario’s third-largest municipality and business hub. With a prime GTA location, major transit investments, ready employment sites, and competitive tax rates, York is a prime destination for business and innovation. It boasts Ontario’s third-largest manufacturing sector and key industry clusters in automotive, technology, agri-food, warehousing, and life sciences. 

Learn more about the Toronto Region’s advantage here.

The announcement was made at this year’s Collision Conference.

We sat down with Phonexa CEO, Lilit Davtyan to learn more about why the U.S. and U.K.-based company chose Canada to open its third office as it continues to expand its global footprint.

Before we discuss why Phonexa is expanding into Canada, please tell us about the company’s origins and who the software is built for?

Phonexa was created by performance marketers for performance marketers. It was originally a proprietary tool and solution for one of the largest affiliate networks in the financial services industry, and it has exponentially grown since its inception in 2016. The company’s roots are humble. Founder and President David Gasparyan is a military veteran and immigrant who once had a hundred dollars left in his name.

Now, Phonexa has evolved into a global company and an enterprise-grade tracking software for performance, affiliate, and partner marketing. We power direct advertisers, networks, and performance marketers by optimizing inbound web and call campaigns and outbound call, email, and SMS campaigns – all while having the ability to enhance the consumer journey every step of the way. With a suite of turnkey marketing products and solutions, Phonexa’s customizable tools are uniquely designed to maximize performance for high-volume direct-to-consumer companies. Some examples of those industries include home services, insurance, legal, lending, and financial services, among others.

The Phonexa Suite consists of 8 core products. It unifies various marketing activities in a single integrated platform. By bringing these business functions together, Phonexa connects technology, and typically disconnected subscriptions, under an all-in-one suite.

What prompted the decision for Phonexa to expand into Canada?

Phonexa’s new office in Toronto marks yet another significant milestone for our company as we continue to experience rapid growth powered by our outstanding team and customer-centric innovations. Toronto is a central hub for Canada’s business, tech, and financial sectors, and this strategic expansion highlights Phonexa’s dedication to innovation and growth in a city celebrated for its dynamic ecosystem. The region’s vibrant business landscape and top-tier infrastructure will enable Phonexa to enhance collaboration and advance our affiliate and performance marketing products and solutions to better serve our global clientele. We’re excited to expand Phonexa with the diverse tech talent found in Toronto.

Phonexa’s global headquarters have been in Los Angeles since the company was founded in 2016. We opened our second headquarters in the United Kingdom in 2017. Phonexa celebrated the expansion of its existing Los Angeles headquarters last year by crowning the 16-story building with a sign and taking over the top three floors. Establishing a footprint in Canada was the next great step in our company’s journey. We’ve been incredibly pleased by the support received across government levels, including Mayor Olivia Chow, her staff, and the entire Toronto Global team.

How will the expansion into Canada benefit Phonexa?

The expansion will enable Phonexa to tap into new markets and build stronger relationships with Canadian clients across performance, affiliate, and partner marketing. Additionally, having a presence in Canada will allow us to better serve our North American clients by providing localized support and services. Our move into Canada represents a significant milestone in our growth journey. It underscores our dedication to innovation, our ambition to serve new markets, and our commitment to delivering exceptional value to our clients, employees, and partners. We look forward to the opportunities this expansion will bring and are confident it will drive significant growth and success for our company.

How will the new offices impact Phonexa’s existing workforce?

The new offices will complement our existing operations and provide growth opportunities for our current employees. We plan to facilitate knowledge transfer and collaboration between teams across regions, fostering a culture of innovation and shared expertise. Additionally, we expect to create numerous job opportunities locally, contributing to the growth of the Canadian tech workforce.

Phonexa’s Toronto office will serve as a second home to the company’s technology and marketing teams. Phonexa employs 200 people worldwide, including a significant staff in Ukraine. From Phonexa’s 14-person global C-level, 12 of its executives are women or from ethnic minorities, and we’re looking forward to growing on those figures.

Through Phonexa Cares, the company’s community outreach initiative program, we plan to work closely with the Canadian government to arrange relocation for any of Phonexa’s global team members looking to move to Canada. This has already happened for some of Phonexa’s staff, including CTO Alexey Sidora, who recently relocated his family from Ukraine to Toronto amidst the ongoing war in Ukraine.

What investment is Phonexa making in the new Toronto offices?

We aim to create an inspiring and productive work environment that attracts top talent and supports our teams in delivering exceptional results across the performance, affiliate, and partner marketing space. We are also committed to investing in community initiatives and partnerships that drive technological advancement in the region for performance marketers.

What impact does this expansion have on Phonexa’s clients and partners?

For our clients and partners, this expansion means enhanced service delivery and greater accessibility to our solutions and expertise. The presence in Canada will allow for more personalized interactions and faster response times. Additionally, our increased capabilities and resources will lead to more innovative and effective solutions, driving success for our clients and partners.

How does the move into Canada align with Phonexa’s long-term vision and goals?

Expanding into Canada is a strategic step toward achieving Phonexa’s long-term vision of becoming a global leader in software solutions for performance marketers. It aligns with our goals of fostering innovation, expanding our market reach, and enhancing our service offerings. By establishing a strong presence in Canada, we are positioning Phonexa to better compete in the global market and drive sustainable growth for the company.

What challenges do you anticipate in this expansion, and how do you plan to address them?

While we anticipate some challenges integrating into a new market, we are confident in our ability to address them. We have a dedicated leadership team for market entry strategies. Additionally, we plan to leverage local expertise and build strong relationships with Canadian businesses and tech communities to ensure a smooth and successful expansion.

What is the one thing Phonexa is excited about for the second half of this year?

Phonexa also owns and operates MailCon, the largest in-person gathering and conference for email marketers. We’re excited to share that Phonexa will be heading to the Big Apple in a big way when MailCon returns for a one-day conference at Convene in Times Square, New York, on Sunday, July 28, one day before Affiliate Summit East.

MailCon arrives during a pivotal period due to the deliverability issues plaguing mailers, performance marketers, affiliate marketers, and lead generators. Businesses have found it challenging to adapt to technological and automation advances and stay ahead of the curve, especially due to Gmail and Yahoo’s new bulk email sender requirements. All of that will be strategically discussed, as the event features an all-star lineup of speakers, panel discussions, networking opportunities, Phonexa product announcements, and much more. MailCon assembles a diverse group of email marketing influencers. Nearly 6,000 mailers, affiliates, advertisers, and networks have attended MailCon since its inception, and 70% of event attendees are directors and C-level marketing decision-makers.

To learn more about Phonexa’s all-in-one marketing automation solution, schedule a consultation, email info@phonexa.com, call (818) 800-0000, or click here for a self-guided interactive tour.

Phonexa offers the following solutions in its suite of performance marketing products:

• LMS Sync (lead tracking and distribution)
• Call Logic (call tracking and distribution)
• E-Delivery (email and SMS marketing)
• Cloud PBX (cloud phone system)
• Lynx (click tracking)
• Opt-Intel (suppression list management)
• HitMetrix (user behavior recording and analytics)
• Books360 (automated accounting)

In recent years, government organizations have invested over $80-billion in transit capital projects to enhance public transportation infrastructure, alleviate congestion and foster sustainable urban mobility.

The backbone of Toronto’s transportation system is its public transit network, operated by the Toronto Transit Commission (TTC). The TTC boasts an extensive network of buses, streetcars, and subways, connecting various neighbourhoods and suburbs within the Toronto Region. In fact, The TTC was awarded the 2017 American Public Transportation Association’s (APTA) award for Transit System of the Year, signifying Toronto’s public transit as a role model for other major cities around the globe.

However, as the regional population expands – growing by over 350,000 people between 2016 and 2021 – the demand for reliable and accessible transit has intensified. In response to these challenges, the government has rolled out several initiatives to improve public transportation in Toronto. One notable endeavour is the ongoing expansion of the city’s subway system.

The Ontario Line

The Ontario Line heralds a transformative era for Toronto’s transit system. With its strategic alignment, the line promises faster and more reliable service to reduce travel times and congestion across the city.

Adding a whopping 15 new stations to the city from Exhibition Place to the Ontario Science Centre, the Ontario Line is poised to stimulate economic growth, job creation, and improve access to essential services. In essence, it represents a pivotal step towards a more accessible, connected, and prosperous Toronto.

Buses and Sustainability

Furthermore, Toronto has prioritized the enhancement of bus services to address the needs of commuters in areas not served by rail transit and promote environmentally sustainable transportation. The city recently hired 160 new staff to maintain service on TTC buses and combat lower ridership since the pandemic. “People would come back if the service is better and if they feel safer. That’s why the 160 staff got hired,” said Mayor Olivia Chow to the Globe and Mail.

Operating the largest fleet of electric buses in North America, the Toronto Transit Commission is leading the way to sustainability with a target to achieve a 100% zero-emission fleet by 2027. 

Similarly, investments in pedestrian infrastructure, including sidewalk improvements and pedestrian-friendly streetscapes, aim to encourage walking as a viable mode of urban transportation. One example is the Queensway Complete Street project – expected to start construction in 2027 – which plans to widen sidewalks, implement improved bus stop waiting areas and add protected bicycle lanes on both sides of the street between Mimico Creek and the Humber River.

Not to mention Toronto’s PATH network, which connects 30 kilometres of indoor walkways along restaurants, shops and attractions, allowing for a pedestrian-friendly option during the colder months.

GO Transit

Through Metrolinx, the government has prioritized the enhancement of regional transit networks like GO Transit, which serves as a vital link connecting Toronto with surrounding regions. GO Transit plays a crucial role in alleviating congestion on highways and providing commuters with convenient and reliable options for travelling to and from the city. Recent initiatives, such as the GO Expansion program, aim to increase service frequency, extend rail corridors, and introduce electrified trains, all geared towards offering faster and more efficient service for passengers.

Investments in the improvement of GO Transit’s bus network further enhance connectivity between urban centers and suburban communities, ensuring that commuters have accessible and flexible transit options contributing to the region’s economic growth and job creation. Through these efforts, GO Transit continues to evolve as an integral component of the Toronto Region’s broader transportation ecosystem.

Introducing a High-Frequency Rail

High-Frequency Rail (HFR) in Canada holds immense promise for revolutionizing the Toronto Region’s transportation landscape. This proposed 1,000-kilometre project will connect Toronto, Peterborough, Ottawa, Montréal, Trois-Rivières and Québec City. HFR’s connectivity with existing transit networks, including the TTC and GO Transit, would enhance intermodal travel options. Additionally, HFR’s potential to alleviate congestion on highways and reduce greenhouse gas emissions aligns with Toronto’s commitment to sustainability and environmental stewardship.

The economic benefits stemming from enhanced mobility and increased tourism opportunities underscore HFR’s potential as a catalyst for regional development and prosperity. Overall, the implementation of High-Frequency Rail in Canada promises to usher in a long overdue modernization of accessible transportation and environmental sustainability for residents, businesses and visitors alike.

What’s next for Toronto’s Transportation?

While these efforts represent significant strides toward a more efficient and sustainable transportation system, challenges remain. Funding constraints, logistical hurdles and recovering from reduced ridership due to COVID-19 are among the factors that influence the pace and scope of transit projects.

Looking ahead, the City of Toronto and Province of Ontario must continue to prioritize investment in public transportation infrastructure while embracing the innovation and technological advancements of the modern age. Collaborative partnerships between government agencies, private sector stakeholders, and community organizations will be essential in driving forward the agenda of sustainable urban mobility.

In conclusion, transportation in Toronto is undergoing an era of transformation, fueled by ambitious initiatives and a commitment to meeting the evolving needs of a growing city. Through strategic investments, forward-thinking city planning, and community engagement, Toronto can strengthen its position as a global leader in economic development through improved transportation. As workers and visitors navigate the streets of the economic capital of Canada, a future of a more accessible, efficient, and sustainable transit system is underway.

VerAI Discoveries is disrupting Mineral Exploration by deploying a revolutionary Artificial Intelligence Platform that detects concealed mineral deposits. There are no more easy discoveries. The remaining ore deposits are concealed under covered terrain making them challenging to discover. Enormous quantities of metals are essential as the foundation of the green-energy transition, which involves decarbonization and electrification of the global economy.

TG: Can you tell us about how VerAI was founded and your role at the company?

TG: How are you using AI to solve a major problem like accessing concealed mines and limited minerals globally? What led you to join VerAI?

LG:  In mineral exploration, trying to find the next big mine or deposit, can feel like you are looking for a needle in a haystack. We’re changing this with AI. The main concept behind our approach is that it starts with the “right” data – geophysics – which is objective and measurable. Geophysics gives a signal that indicates what is below the surface. Using AI, we can detect patterns in the geophysical data to see what we can’t see with our eyes alone.

As VerAI started to bring their technology to new partners they needed someone with business acumen to help them take things to the next level. I had been working for the last 25 years in the SaaS software world starting at Geosoft, who was acquired by Seequent, and finally Bentley Systems.

Through that journey, my role focused on building the business across different verticals, industries, and regions. My background was in Geophysics, as a graduate of York University, and I had worked in mineral exploration early on in my career. This role at VerAI was a great fit given my history in the mining industry, business experience, and understanding of geophysics. I saw what VerAI is doing as a game-changer, bringing something new and innovative to the market.

TG: What is the environmental impact of leading with a technology solution instead of traditional mining?

LG: There is a sustainability element – by pinpointing with better certainty where to start your exploration program there is less site investigation, less ground disturbance, and fewer drill holes needed.

TG: VerAI is a great example of how AI is adaptable and can be used to help solve critical industry problems. Can you expand on the role VerAI plays in the mining industry? 

LG: Our business model is acting as a partner to mining companies and the value that we provide as their partner is faster, better, cheaper, and higher probability rates for discovery. The discovery rate of an exploration project becoming a mine is generally accepted today to be 1 in 1000. Only 4 mines went into production in Canada last year. We are using AI to improve the odds – the probability of success – in finding the next big discoveries to support the demand for minerals, particularly the critical minerals needed for green energy.  

TG: Can you share why VerAI is looking to Toronto for Canadian talent?

LG: Canada is an international mining hub, with Toronto as the headquarters for many mining companies. Toronto also hosts the annual Prospectors and Developers Association of Canada (PDAC) conference, which is one of the largest mining conferences in the world. Based on research centres like the Unilever AI Centre now in the Toronto Region, there is also a lot of AI talent.

For our decision, it came together around the talent search. I am based out of Toronto, and we are building out a world-class business team with one or two commercial division hires this year. I want to build a team at VerAI that is making a difference and loves what they do.

TG: What are your top career highlights and how have you developed your leadership skills over the years?

LG: I love building high-performance functioning teams. I look to build team synergy and collaboration to have everyone pulling in the same direction with the mantra ‘when one wins, we all win.’ A career highlight for me is that I co-founded the Women’s Leadership Circle at my previous company to provide networking and support for young women. I’ve also had the opportunity to travel and work in some amazing places with ties to mining in the Yukon, northern British Columbia, Ontario, and internationally.

TG: In past roles, you’ve mentored women (ie. Women’s Leadership Circle) in a male-dominated industry. What has changed since you started your career and what work still needs to be done?

LG: When I graduated in Geophysics, I was 1 of 2 women graduates, and today I’m thrilled there are so many more women in science. Seeing more women in STEM and in leadership roles are two areas I’m passionate about. I was fortunate to have great mentors throughout my career, both men and women. Today there are more female leaders who can be role models and mentors to help other young women see themselves as future leaders.

Lorraine’s Recommended Reads: Quiet Leadership by David Rock and Find Your Why by Simon Sinek

For more information about VerAI discoveries visit: https://ver-ai.com/.

The Growth in Job Creation

The aerospace manufacturing industry in the Toronto Region has seen significant growth over the past decade. Over half of the top 25 aerospace firms are in Ontario, clustered primarily in the Toronto Region.

According to the Aerospace Industries Association of Canada (AIAC), one of the most notable aspects of the aerospace industry in the Toronto Region is its role in job creation, providing employment opportunities for a vast and skilled workforce of over 24,000 professionals in the region.

The Toronto Region forms Canada’s second-largest aerospace cluster with over 9,000 mechanical engineers and 2,000 aerospace manufacturing engineers. This robust job market makes it a vital part of the country’s economy and a rich talent pool for companies to rely on.

Research and Development

The Toronto Region’s aerospace manufacturing industry is a hotbed of research and development. The National Research Council of Canada reports that aerospace companies in the Toronto Region spend approximately $800 million annually on research and development. This commitment is realized through the Downsview Aerospace Innovation & Research (DAIR) hub.

Through DAIR, Ontario’s major aerospace manufacturing players have come together with top academic institutions to create a geographic area at Downsview Park in North Toronto where industry and academia can co-locate for the purposes of bolstering research, innovation, and skill development in the province’s aerospace industry.

The first major instalment of the hub was unveiled in 2018: a $72 million, 130,000 square foot training and research facility for Centennial College with a capacity for 900 students. Other major facilities are in development, including:

• DAIR Innovation Centre – a collaborative space to support aerospace companies of all sizes with research, manufacturing, product and process innovation.
• University of Toronto Institute for Aerospace Studies (UTIAS) – part of U of T’s Faculty of Applied Science and Engineering, UTIAS is engaged in a wide range of research areas, including technologies working to reduce the environmental impact of aviation. UTIAS is expected to move into the new campus at the Downsview Hub in 2025.

Global Competitiveness

The aerospace manufacturing industry in the Toronto Region isn’t just a Canadian powerhouse; it’s globally competitive. Seventy-five percent of all Boeing and Airbus commercial aircraft landing systems are produced in Ontario. With over 160 aerospace companies operating in the Toronto Region alone, the region is at the forefront of the global aerospace market.

According to the Greater Toronto Airports Authority, the region’s two major airports, Pearson International and Billy Bishop, handle more than 40% of all Canadian air cargo, serving as vital transportation hubs for aerospace products and components.

Aerospace Manufacturing Companies Leading the Way

1. Bombardier Aerospace

Bombardier, the world’s third-largest commercial aircraft manufacturer, has played a significant role in the development of the aerospace industry in the Toronto Region. The company’s presence in the region is marked by its manufacturing facility, which recently expanded to Pearson Airport and was previously located at Downsview Park in North Toronto.

Downsview Park is growing significantly thanks to the DAIR initiative – which Bombardier is a member of. The manufacturing giant chose to continue its investment in the Toronto Region’s rich aerospace cluster by moving about 15 kilometers West to the Pearson Economic Zone.

This expansion allows Bombardier to retain access to the Toronto Region’s highly educated talent and top-notch facilities while keeping a consistent commute for its 2,500 existing staff, many of whom live in the Greater Toronto Area.

This move also keeps Bombardier in proximity to the Toronto Region’s strong aerospace supply chain. Bombardier has 93 suppliers throughout the entire region, including 41 in Mississauga, 11 in Brampton, 17 in Halton Region, four in Durham Region, 15 in Toronto and five in York Region.

• Raytheon Technologies

Raytheon Technologies (RTX) has been a key player in the aerospace industry in the Toronto Region. Raytheon’s presence in the Toronto Region is comprised of several facilities, including a headquarters in Vaughan, expansive Pratt & Whitney Canada (P&WC) engineering and manufacturing facility in Mississauga, and a Collins Aerospace location in Oakville.

P&WC and Collins Aerospace are leading the global aerospace industry by manufacturing aircraft engines and developing technologies that reduce the environmental impact of aviation. Raytheon Technologies’ prominent presence in the Toronto Region has allowed the company to enhance its operations with access to the region’s thriving ecosystem, contributing to the Toronto Region’s reputation as a hub for aerospace innovation.

Conclusion

With the presence of global industry giants like Bombardier, P&WC and Collins Aerospace, the Toronto Region has established itself as a nucleus for cutting-edge aerospace technology and innovation.

The continuous expansion and investments made by these companies in the Toronto Region not only reflects their commitment to the region but also contributes to the growth of the regional aerospace ecosystem.

As the aerospace industry continues to evolve, the Toronto Region remains well-positioned with a highly educated aerospace workforce, making it an exciting place to watch for future developments in aerospace manufacturing. With huge companies continuously choosing to remain within Canada’s second largest aerospace manufacturing hub, the Toronto Region is soaring high in the aerospace industry. Contact us if you need any kind of information about Aerospace Manufacturing companies in Toronto.

Today’s announcement of Unilever’s Horizon3 AI lab is an incredible vote of confidence in Toronto’s AI Ecosystem. Unilever’s Horizon3 Labs is the first and only of its kind globally and represents an investment that grew out of the company’s strategy to become a data-driven company.

Unilever has implemented more than 400 applications of AI across various disciplines including marketing, innovation, supply chain, and research & development. This includes employing generative AI in its customer service and marketing, and advanced analytics and machine learning in supply chain and logistics.

The company also developed a bespoke AI solution that auto-updates product titles and descriptions on retail websites to respond to search trends to put relevant products in front of consumers.

Andy Hill, Unilever’s Chief Data Officer, went so far as to say, “We are working to solve real-life problems through innovation, and setting up this lab in Toronto allows us to access vibrant tech talent and some of the best partners in the business to bring solutions to life.”

Why did Unilever, a Fortune 500 company with products in over 190 countries and 3.4 billion daily users, choose Toronto for it’s first and only global AI Lab?

 “In selecting Toronto, we will be able to tap into one of the fastest growing AI superclusters in the world with access to best-in-class research facilities and world-class talent while also building off the collaborative power of academia, businesses and government,” said President of Unilever Canada, Gary Wade.

The numbers back up Wade’s assessment. Toronto Region’s AI ecosystem is a thriving center of innovation, where top-tier research meets cutting-edge startups and tech giants, making it a prime destination for AI projects. Many multinational enterprises, such as HSBC, Sanofi, Samsung, and NVIDIA, have chosen the Toronto Region as their AI R&D centres, a testament to the region’s dynamic AI ecosystem.  

Over 285,000 tech workers reside in the Toronto Region. We have the third largest tech talent pool in North America after San Francisco Bay Area and New York Metro, and the second fastest growing tech talent workforce. In Ontario, over 1,000 students graduated from AI Masters’ programs, while more than 1,500 enrolled. Our world-renowned University of Toronto is one of the largest producers of high-quality AI and tech talent for the Toronto Region. Alumni from the university work for some of the world’s most well-known firms such as OpenAI, Google, Apple, and Microsoft.

There are over 660 AI firms across Canada, with 273 AI firms in the Toronto Region alone, underscoring the region as a hub for AI activity. In the fiscal year 2022-23, Canada’s venture capital investments in AI accounted for 28 percent of the global total, surpassing the investments of countries like Germany, the UK, and Italy.

Radical Ventures, Canada’s AI-focused Venture Capital (VC) fund based in the Toronto Region, is dedicated to investing in companies that harness AI and disruptive technologies for innovative solutions. With the AI activities occurring in our ecosystem, Ontario experienced a record high in AI VC investments, reaching $1.16 billion in 2022.

Toronto is also home to the Creative Destruction Lab (CDL), global startup program for seed-stage, science-based companies. The Artificial Intelligence Stream, at CDL,  brings together experienced entrepreneurs, leading scientists, and active investors to help scale ventures focused on artificial intelligence. Alumni of the CDL program include Xanadu, Deep Genomics and Ada. In fact, the CDL model is so successful that it has scaled to 13 locations globally.

Another complement to our AI ecosystem is the Vector Institute, a research organization devoted to building Canada’s leadership in AI. Affiliated with the University of Toronto, Vector has over 700 members in their research community and works with dozens of corporate partners to drive research excellence and commercialization of AI. AI R&D funding in Ontario hit $1.08 billion in the last year, surpassing any other province’s investment in the sector.

The Vector Institute, led by Geoffrey Hinton, the ‘Godfather of AI’, plays a pivotal role in advancing AI research and commercialization. In fact, many University of Toronto alumni have had the privilege of being mentored by Hinton himself. Toronto Global helps companies partner with industry organizations such as the Vector Institute.

That’s a lot to consider. And, as part of our work with Unilever, Toronto Global prepared a comprehensive analysis of the Toronto Region’s AI ecosystem outlining how the region’s talent, ecosystem, innovation capacity, and global connectivity provide an immense advantage over other global locations. Toronto was chosen over 15 other jurisdictions globally for this investment.

Learn more about AI in the Toronto Region

Diversity is Toronto Region’s Global Advantage

Another component that sets the Toronto Region apart is the diversity of our people and economy. Half of our population is born outside of Canada, making Toronto one of the most diverse cities in the world. Businesses can access a workforce with unique perspectives, cultural awareness, and a worldly view that can help address barriers like data bias – which is critical to building technologies like AI.

By harnessing AI ethically and responsibly, businesses like Unilever are opening doors to new levels of productivity and innovation. In fact, ethical and explainable AI is of increasing interest to academia and industry in the Toronto Region.

Companies can also access talent globally through our open immigration programs. Toronto Region welcomes over 100,000 new immigrants a year, the largest proportion of any Canadian city. The Toronto Region’s workforce has a global perspective, with over 250 ethnicities and 190 languages represented, and more than half the population identifying as a visible minority. Business done in Toronto is better incorporated across the globe.

And the diversity of the Toronto Region’s economy? Accounting for 20 percent of Canada’s Gross Domestic Product (GDP), our region stands at the forefront in Technology, Financial Services, Life Sciences, Manufacturing, and Food Processing. Unmatched in Canada, the Toronto Region’s economy is among the few in North America that can boast such a diverse spectrum of industries.

Unilever owns over 400 brands, including Dove, Hellmann’s, Vaseline, Degree, Axe, TRESemme, Knorr, Breyers and SheaMoisture. For companies like Unilever that manufacture a wide range of products, the Toronto Region’s economic diversity provides an opportunity to tap into vast industry expertise and work collaboratively to understand how industry peers and others are adopting AI.

What’s Next for Unilever?

Unilever’s investment builds on the company’s over 125-year history in Canada that. Establishing in Toronto in the 1890s as Lever Brother’s soap factory, Unilever’s current Canadian presence is still concentrated in the Toronto Region, including their Canadian headquarters, and a manufacturing facility in Rexdale that produces Hellman’s mayonnaise, and now Horizon3 Labs, in addition to a larger national presence.

Unilever is exploring data and analytic tools that unlock AI and machine learning across the value chain. Horizon3 Labs is set to concentrate on three key areas: advanced forecasting, graph database applications, and delivering insights through generative AI.

This strategic focus will integrate work conducted in Toronto into Unilever’s global business operations. Moreover, Horizon3 Labs’ projects will incorporate collaboration with academic researchers and industry experts, fostering a rich environment of innovation and expertise.

The Bottom Line

Unilever’s investment represents another strong signal that Canada, and particularly the Toronto Region, is the right place to invest. With Generative AI being the topic on everyone’s lips – from boardrooms to watercoolers – the time to invest in AI is now! In an increasingly competitive and changing economic landscape, the stability, diversity, and talent that the Toronto Region offers is universally sought after for companies incorporating AI into their business.  

Does your company have an AI strategy? Connect with the Toronto Global team to learn how we advise companies who are considering growth and AI innovation in the Toronto Region.