Building a Business in Toronto as a Student

I started Olunix during the summer before my final year at McMaster University. At the time, I was 21, had no investors, no office, and no safety net. Just an idea, a CTO and CMO who believed in it, and a city that turned out to be one of the best places in the world to build something from scratch.

This article is for anyone thinking about starting a business as a student in Toronto, or anywhere in Canada really. I want to give you the honest version, not the LinkedIn highlight reel.

Why Toronto Is Special

I'm biased, but I genuinely believe Toronto is one of the best cities to start a business, especially if you're young and scrappy.

The numbers back it up. Toronto's population is over 2.9 million, with more than 200 languages spoken. Over 51% of Toronto residents were born outside of Canada. That kind of diversity isn't just a nice statistic for a brochure. It's a business advantage.

When your city speaks 200 languages and represents every corner of the world, you have a built-in testing ground for products and services that need to work across cultures. You have access to perspectives and networks that founders in more homogeneous markets simply don't.

The tech ecosystem is strong too. Toronto is home to world-class AI research at the University of Toronto, a thriving startup scene, and growing venture capital infrastructure. Companies like Shopify, Wealthsimple, and dozens of AI startups have built significant businesses here.

The McMaster Advantage

I'll be honest: when I tell people I'm studying Automotive Engineering Technology and running a marketing company, I get some confused looks. But McMaster has been a bigger part of my entrepreneurial journey than most people realize.

McMaster has The Forge, a business incubator that's been supporting startups since 2015. It's located in a 10,000-square-foot space at McMaster Innovation Park and provides mentorship, business development support, and access to investors and industry experts. They run year-long commercialization programs for early-stage ventures across biotech, digital health, mobility, and more.

Beyond formal programs, the university environment itself is valuable. You're surrounded by smart people across every discipline. You have access to libraries, research, professors who've been in industry for decades, and a built-in network of peers who are going through the same thing you are.

The Honest Challenges

Let me be real about what's hard.

Time management is brutal. You're not just juggling a business and school. You're juggling a business, school, assignments, group projects, maybe a part-time job, and some attempt at having a life. There were weeks where I slept 4-5 hours a night because a client deliverable was due the same day as a midterm. I don't recommend it. But it happens.

Credibility is an uphill battle. When you're 21 and sitting across from a potential client who's been in business for 20 years, they're going to wonder whether you can actually deliver. I learned to let the work speak for itself. I stopped trying to seem experienced and just focused on being good. Over time, the results built the credibility that my age couldn't.

The money stress is real. Starting a business is expensive, even a service-based one. There were months early on where I was reinvesting every dollar back into the company and living on the bare minimum. Toronto isn't cheap, and being a student doesn't make it cheaper.

Resources That Actually Help

If you're a student in Ontario thinking about starting something, here are resources worth knowing about:

Ontario Summer Company Program. The provincial government offers up to $3,000 in grants for students between 15-29 who want to start a summer business. It's split into two payments: up to $1,500 for startup costs and another $1,500 upon completion. Applications typically open in February.

NRC IRAP. The Industrial Research Assistance Program offers small and medium businesses up to 60-80% reimbursement for R&D expenses, capped at $500,000. It operates on a continuous intake basis, so there's no single deadline.

CanExport SMEs. If you're looking to take your business international, this program offers up to $50,000 in funding for export-related activities.

Small Business Enterprise Centres. Toronto and surrounding cities have free resources through local enterprise centres, including mentoring, workshops, and networking events.

What I Wish I'd Known Earlier

Start as a sole proprietorship. When you're just getting going and your revenue is under $30,000, you probably don't need to incorporate right away. A sole proprietorship is simpler, cheaper, and gets you moving faster. You can always incorporate later as you grow.

Build in public. Share what you're doing, even when it feels premature. The people who follow your journey early become your biggest supporters, and often your first clients. That's exactly what we did when building Olunix.

Find your people. Entrepreneurship is lonely enough without trying to do it in isolation. Whether it's other student founders, a local meetup, or an online community, surround yourself with people who understand what you're going through.

Don't wait until you're "ready." You won't be. I wasn't. Nobody is. The best time to start is when you have the lowest overhead and the highest risk tolerance, and for most people, that's while you're still in school.

The Immigrant Advantage

I was born in Egypt and moved to Canada when I was eight. Growing up between two cultures taught me how to adapt, communicate across different contexts, and read people quickly. I didn't realize it at the time, but those skills became the foundation of everything I do in marketing.

Toronto's diversity isn't just cultural richness. It's a business superpower. If you grew up navigating multiple cultures, you already have skills that most marketers spend years trying to develop. Don't underestimate that.

Final Thoughts

Building a business as a student in Toronto is hard. But it's the kind of hard that makes you better. The constraints force creativity. The pressure builds resilience. And the city gives you everything you need to succeed, if you're willing to put in the work.

If you're on the fence, just start. The worst thing that happens is you learn more in a year of building something than most people learn in a decade of thinking about it.

- MM