WATERLOO, Ontario—Philipe Noelting graduated from Babson College in 2009 with an idea for a job-recruitment start-up.
But instead of staying put in Boston or moving to other start-up hubs like Silicon Valley or New York, Mr. Noelting ended up here—a small university town 90 minutes northwest of Toronto.
Waterloo may be best known as the hometown of BlackBerry-maker Research in Motion Ltd., recently struggling amid competition from Apple Inc. and Google Inc. But unlike other company towns with swooning corporate titans, Waterloo is thriving, quietly morphing into a magnet for technology start-ups, incubators, accelerators and young inventors.
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