At my second-ever ALL IN in Montréal, I experienced déjà vu.
Just before observing Ministers Solomon and Joly knight Cohere as Canada’s new economic champion, I caught the tail end of a panel discussing the country’s venture pipeline. I am too polite to name names, and the important bit isn’t who said what but what was said: Canada doesn’t have a capital problem; entrepreneurs suffer only from a lack of positive reminders that this is a great place to build a business, etc.
Like me, you have probably heard these sentiments before. Here’s the thing: the data doesn’t support the narrative. Canadian VCs are in the midst of their worst extended fundraising run in a decade and deploying capital at the lowest levels since the early days of COVID.
The issues go beyond dollars and cents. While many champ at the bit to lure America’s H-1B visa castaways, “high-potential” Canadian startups are fleeing to the US at an alarming rate. Josh Scott reports below that Canada’s Start-up Visa program (designed to bring foreign entrepreneurs here) now features a wait time of 53 months.
That story was enough for unfailingly polite Senator Colin Deacon to claim a “complete disconnect” between government and innovators in the country. Last year, the senator’s office conducted a review of federal innovation programs. They were “sorely disappointed.”
“I desperately hope we can stop creating programs that are designed to eliminate the risk of bureaucratic and political blame,” Deacon wrote. “Otherwise, we’re destined to continue to deliver failure.”
I agree with Senator Deacon. Negativity can be a self-fulfilling narrative, but ignoring problems is not a solution. In a moment when many seem so eager to build Canada, let’s start by being honest with ourselves about what works and what doesn’t. The best homes are built on strong foundations.
Douglas Soltys
Editor-in-chief
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Entrepreneurs face nearly five-year wait for Canada’s Start-up Visa
While talk swirls about the potential for Canada to attract foreign technology talent affected by the United States’ H-1B visa changes, wait times under Canada’s program for luring immigrant entrepreneurs have ballooned to 53 months. The lengthy timeline has led some to question whether the program is effective.
Ottawa launches Defence Investment Agency to overhaul military procurement
The federal government’s new Defence Investment Agency is set to overhaul the military procurement process, promising faster approvals, earlier industry engagement, and domestic economic benefits.
Shopify merchants to sell directly through OpenAI’s ChatGPT with new partnership
Shopify will soon bring its merchants’ products into ChatGPT through a partnership with OpenAI, as the chatbot developer rolls out in-app shopping for the first time.
The e-commerce giant says orders will be processed like they would through a merchant’s typical channels. ChatGPT will display store names, and merchants will control whether shoppers use the Instant Checkout feature or their online store.
Alberta’s AI legacy runs deep. Here’s how one founder is building on it
Ahead of her appearance at Elevate Festival next week, BetaKit sat down with Artificial Agency co-founder Alex Kearney to learn more about her journey from academia to starting her own AI company.
Kearney, who is developing an AI-powered “behaviour engine” for video games, spoke on Alberta’s long history of AI research, how gaming has played a key role in that research, and the benefits and pitfalls of launching an AI startup in Canada.
Canada’s productivity problem takes center stage at Competition Summit 2025
Canada is becoming increasingly anti-competitive and unproductive due to overregulation, industry heads and officials told attendees at Canada’s Competition Summit this year.
Industry minister Mélanie Joly set the tone when she told the room the government would be “hawkish” on competition. Most of the afternoon, however, focused on what the government is doing wrong.
At Munk School event, FinTech leaders call for Canada to take bigger swings
Some of the most influential names in Canadian FinTech gathered to take stock of where the industry stands at the University of Toronto’s Munk School of Global Affairs and Public Policy’s third annual The Future event this week.
Leaders like Purpose Investments founder Som Seif, Interac exec Debbie Gamble, and Questrade policy head Tanya Woods expressed worry that the country and its entrepreneurs aren’t taking bigger swings on priorities like open banking, payments modernization, and stablecoins.
Platform Calgary president and CEO Terry Rock leaving for Alberta Innovates
Platform Calgary president and CEO Terry Rock is leaving the local tech hub to become senior vice-president and chief operating officer of provincial agency Alberta Innovates.
Alberta Innovates said Rock’s leadership at Platform Calgary created “one of Canada’s most vibrant tech ecosystems,” and that he will help the agency do the same on a provincial scale by strengthening collaboration and operationalizing its strategic plan.
Elevate Festival’s 2025 Startup Open House hits Toronto on Oct. 9
The 2025 Elevate Festival in Toronto is less than two weeks away, and, after a long hiatus, Startup Open House is slated to return on Oct. 9 at the locations of over 500 startups and organizations across the city.
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🇨🇦 Weekly Canadian Deals, Dollars & More
- KW – OpenText to sell off “non-core” eDOCS unit for $163M USD
- TOR – 1Password’s CTO and CRO leave the company
- TOR – Venn launches product to help entrepreneurs incorporate
- OTT- Hyperlume acquired by semiconductor company Credo
- MTL – Oasis Learning raises $1.5M for AI corporate training videos
- MTL – Avitia to expand its advanced cancer testing across Quebec
- MTL – Mila joins Sovereign AI Research Hub with Hypertec and 5C
The BetaKit Podcast — Are Canadian entrepreneurs willing to let their old companies die?
“Don’t talk to your customers because your customers will keep you in the place that you used to be.”
AI adoption is now an industry-wide mandate. It’s putting a lot of pressure on Canadian entrepreneurs: to scale with customer demand (safely and responsibly); to reskill employees; even to kill their old company to let the new AI-first version live. What are the challenges and opportunities? Featuring Michael Buhr (C100), Aydin Mirzaee (Fellow AI), Avery Pennarun (Tailscale), and Amanda Arciero (Airudi). Recorded live at ALL IN 2025.
Take The BetaKit Quiz – Shopify adds OpenAI to cart, Constellation loses its star, and Canada’s new defence agency
Think you’re on top of Canadian tech and innovation news? Time to prove it. Test your knowledge of Canadian tech news with The BetaKit Quiz for October 3, 2025.
Feature image courtesy Freepik.