BlackBerry's meltdown sparks start-up boom in Canada's Silicon Valley

[Wireless News]

http://l2.yimg.com/bt/api/res/1.2/uz4RhrpgrIdVZc_Ef7fdKA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-04-16T172434Z_3_CBREA3F1C7200_RTROPTP_2_CBUSINESS-US-BLACKBERRY-HOMETOWN-STARTUPS-INSIGHT.JPG (http://news.yahoo.com/blackberrys-meltdown-sparks-start-boom-canadas-silicon-valley-172019190--sector.html)By Sayantani Ghosh, Ashutosh Pandey and Euan Rocha (Reuters) - The troubles at BlackBerry Ltd, which fired more than half its staff and lost more than 90 percent of its market value as consumers shunned its smart phones, might have spelled disaster for the company's hometown of Waterloo, Ontario. More than 450 start-ups opened for business in the twin cities of Waterloo and Kitchener last year, more than four times the number begun in 2009, according to Communitech, a local company that advises them. Often, the new companies are being founded by former BlackBerry employees chasing their entrepreneurial ambitions in a community that's Canada's answer to technology hubs in California and elsewhere. "For those who are trying to get a new tech business off the ground, get it funded, and not get lost in the shadow of Silicon Valley, Waterloo can be the best place to get your company on the map," said Sean McCabe, vice-president of engineering at drone manufacturer Aeryon Labs Inc in Waterloo.



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