Take my opinion with skepticism, because is just an opinion.
Don't bet the success of your endeavour because of location. Thanks to globalization you can build and operate your company anywhere. I'm not saying that shouldn't be open to move, but moving before you have something already running is making endeavour harder than already is. If your product gets the proper traction, it won't matter where you're.
Indeed location improves your chances of success, but only slightly. To a point that's not significant. If your endeavour involves VCs, angles and other types of funding as essential begin, then, location does affect things. But don't be going to any startup hub believing funding will be easy. As a matter of fact, getting attention (even with some sort of traction) is hard, because on those startups hubs, competition for financing it's also cutthroat.
With that said, Toronto is a good place for the previous given reasons. Canada has an startup visa, which up until today only two companies have been able to proclaim those type of visas (go figure!). To get considered for an Startup visa your company has to have first traction. So, its not a direct route. As a matter of fact, it's easier to immigrate to Canada as an skill worker than as an Startup visa holder. In any case, the procedure for formal immigration, to any country takes labour. Labour that distracts you from you endeavour.
Best of lucks!