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

HELPING HANDS: Major technology companies like Google and BlackBerry provide mentoring services to companies within Communitech in Kitchener's historic Tannery District in Kitchener, Ontario. — Reuters

The troubles at BlackBerry Ltd, which fired more than half its staff and lost more than 90% of its market value as consumers shunned its smartphones, might have spelled disaster for the company's hometown of Waterloo, Ontario. Instead, there are hot sports cars in the streets and new companies filling the refurbished office buildings. 

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.