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hamilton has been the historical ace of innovative entrepreneurs since the late 19th century located basin the niagara escarpment in the heart of canada its in a prime geographic location to make a name for itself with a population of over 550000 its home to some of the nations most technologically advanced companies stelco dofasco and cp rail among them the city is wellknown for companies such as coppley clothing cogeco the hamilton spectator and for being home to the annual supercrawl street arts festival hamilton also houses two wellknown universities mcmaster university and hamiltons mohawk college where students from all over the world flock to to pursue higher education and new innovative ideas the median salary for a fulltime employee in hamilton was about 40000 per year in 2020 and the unemployment rate was reported as 61 in the same year furthermore the city had total gdp of 37 billion and in 2020 alone saw the formation of 3578 new businesses while 2234 businesses closed the high rate of company creation and closure are evidence of the high competition of hamiltons startup scene as a young and vibrant city the presence of educational opportunities high tech companies and a competitive marketplace has ensured that hamilton will continue to be a leading authority in entrepreneurship and business acumen in the nation although there is still much room to grow it is clear that hamilton is on the rise and is an attractive destination for entrepreneurs all over the world
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