I had the opportunity to catch up with my old boss this week. The conversation took an unexpected turn.
I wanted to speak with Jim Balsillie, former RIM co-CEO and co-founder of policy-focused organizations CCI, CIGI, and CDR (say that five times fast), for an upcoming story. But the policy wonk couldn’t stop talking about the recently released US National Security Strategy.
Self-labelled as a “‘Trump Corollary’ to the Monroe Doctrine,” the strategy lays out a detailed plan “to restore American preeminence in the Western Hemisphere.” For the non-history buffs, consider it every 51st state comment and retaliatory tariff condensed into a single foreign policy document. I recommend reading the strategy in full, but the vibes are dark for countries not fully aligned with US security and prosperity as their primary goal.
“The Monroe Doctrine is a declaration of hemispheric dominance, and that everything else has to be subordinate to American priorities,” Balsillie told me. “And no country is more affected in that than Canada.”
Surviving such an aggressive policy shift from our historically largest trading partner and former closest political ally requires a “tremendous reorientation” of national priorities, according to Balsillie. “Trump just cranked up the urgency,” he said, but Canada is still pursuing the “status quo.”
Balsillie pointed to the recent federal budget, which features novelties like stablecoin frameworks and a reversal on resource extraction, but—in his mind—comprehensively ignores the intangible economy that accounts for 90 percent of the market value in the S&P 500. “So it tells me that it’s not that they’re averse to frameworks; they don’t understand how the intangible economy works,” he said.
Worse still are the IP supports (“small and token at best”) and continued commitment to foreign direct investment over data and AI sovereignty (my focus in last week’s newsletter).
For Balsillie, an effective response to Trump’s new doctrine requires the feds to stop digging deeper FDI holes and start focusing on building national capacity and control over data, AI, and IP.
These topics have been a consistent drumbeat from my old boss for at least a decade, and merit greater attention. If you’re looking for a counter perspective, check out this week’s episode of The BetaKit Podcast (link below), which features AI Minister Evan Solomon walking through the feds’ commitments to Canadian tech.
Douglas Soltys
Editor-in-chief
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Feds unveil $358-million initiative to bolster Canada’s defence supply chain
The new Regional Defence Investment Initiative (RDII) aims to strengthen Canada’s defence supply chain, drive defence-related research and innovation, and improve access to capital for SMBs, AI minister Evan Solomon claimed when sharing the news.
The big defence investment follows Canadian governments opening their arms (and wallets) to American chipmakers investing in Québec and Ontario operations.
Clio takes Alexi to court over database at the centre of billion-dollar vLex deal
Fastcase, a company owned by Burnaby, BC-based legaltech firm Clio, is suing Toronto’s Alexi for allegedly using Fastcase’s data to build a competing legal platform in what they say is a violation of a data-licensing agreement.
Alexi CEO Mark Doble called the claims “baseless,” while a Clio spokesperson said it “takes its contractual obligations and intellectual property very seriously.” None of the allegations have yet been proven in court.
Employment Hero looks to make Canadian business profitable following Humi takeover
While the Australian HR software giant achieved milestones on a global scale in 2025, its newest market still needs some work: it needs more customers, more revenue, and it’s not yet profitable.
After taking over Toronto-based Humi in January, Canada is something Employment Hero CEO Ben Thompson is willing to invest in.
US firm Forum Ventures bets on Toronto to build next wave of AI software startups
On the heels of the final close of its second fund, BetaKit sat down with Forum CEO and managing partner Michael Cardamone and partner Jonah Midanik for an exclusive interview on why the United States VC firm decided to build an AI-focused venture studio north of the border.
University of Toronto establishes AI research chair to recruit the next Geoffrey Hinton
U of T has created a new role to honour the legacy of AI pioneer Geoffrey Hinton and help bring another prominent AI expert to the university. The appointee will work on AI research across medicine, engineering, scientific discovery, and the humanities.
Old faces in new places
- Benjamin Bergen, president and CEO of scaleup lobby group the Council of Canadian Innovators, will become the next CEO of the Canadian Venture Capital and Private Equity Association in the new year.
- Outgoing Lightspeed president JD Saint-Martin is set to become co-managing partner of Boreal Ventures at the end of March 2026.
- Conquest Planning founder and CEO Mark Evans will transition to executive chairman in the new year, making way for chief revenue officer Brad Joudrie to take over the CEO role.
- UK-based Revolut has selected Jan Pilbauer as its new Canadian CEO in charge of leading the neobanking giant back into the market it left behind in 2021.
Montréal’s seventh Startup Community Awards get a new home, and a new tone
After some ecosystem players decried a perceived emphasis on provincial government-backed incubators and accelerators last year, this year’s Montréal Startup Community Awards highlighted founders, mentors, and people working behind the scenes in a brand-new innovation hub built to reconnect the city’s dispersed startup scene.
Human Computer Lab wants the next home robot to be more Pixar lamp than laundry-folding butler
Founder Shahvir Sarkary doesn’t think we’re ready for humanoid robots yet. Instead, he wants to ease people into robotics with LeLamp, a playful robot light reminiscent of Pixar’s iconic hopping lamp.
He sees LeLamp as a friendly companion that will fit into “existing habits” while delivering emotion and expression, much like what you’d expect if a lamp from an animated film came to life.
Black Friday, Cyber Monday post-mortem
- Shopify set a new BFCM sales record yet again, despite a partial service outage on Monday. Merchants on the platform generated $14.6 billion USD in total sales, a 27-percent jump compared to 2024.
- The Nod, a community-based digital organization aimed at empowering Black Canadian businesses, launched its Real Black Friday tour, encouraging intentional commerce on Black Friday and year-round.
- Didn’t get your holiday shopping done? BetaKit put together a list of the top 10 Canadian consumer tech products of 2025.
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Master University’s DeGroote School of Business has introduced a suite of new AI programs designed for professionals looking to integrate the technology into their careers. The new programs are perfectly timed as the Canadian government makes significant investments in AI workplace adoption and education initiatives, via Budget 2025.
“Our perspective on AI programming is unique because most existing initiatives concentrate heavily on the technical side, where Canada is already strong, rather than on the application side, which remains the fundamental challenge for Canadian businesses,” said faculty lead Manaf Zargoush.
Read a breakdown of DeGroote’s new programs, and who they’re for.
🇨🇦 Weekly Canadian Deals, Dollars & More
- BC – Innovate BC offers businesses up to $500K to test tech
- REG – CVC hits $30M target for second Sask-focused fund
- MIS – Vive Crop closes $10M USD to protect farmers’ crops
- TOR – EQB acquires PC Financial from Loblaw
- TOR – NordSpace to launch satellite on SpaceX rocket in 2026
- MTL – Morphocell extends Series A at $50M USD
- MTL – Indie music catalogue Xposure raises $42.5M USD
- MTL – Lightspeed to pay $11M class-action settlement, judge rules
- MTL – Community item-lending app Partage Club secures $2.1M
- SAJ – Versos closes $1.85M for copyright-cleared AI data
- CHA – Tracktile raises $1.25M to scale manufacturing software
The BetaKit Podcast — Canada’s AI ambitions with Minister Evan Solomon
“It used to be that Silicon Valley was the kind of Mecca of the entrepreneur. What’s happening is everyone has got the tools that used to be crowded in there. Now what we need to do is get the capital.”
Minister Evan Solomon sits down with C100 Executive Director Michael Buhr to discuss the country’s future in AI and the feds’ commitments to innovation. Recorded live on the BetaKit Keynote Stage at SAAS NORTH.
Take The BetaKit Quiz – Binance for kids, robotic Pixar lamps, and how to use AI in 400 ways
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 December 5, 2025.
Canada just made the most significant SR&ED changes in years.
Join us December 11 at 12pm ET for a discussion breaking down exactly what changed, and what it means for innovative businesses across Canada.
Featured speakers:
Daniel Perry – Council of Canadian Innovators (policy and industry perspective)
Carlos Coelho – Boast (practical claiming strategies and optimization)
Hosted by BetaKit CEO Siri Agrell
Event details:
📅 December 11, 2025
🕐 12:00 PM ET
⏱️ 60 minutes + live Q&A
💻 Virtual (link provided upon registration)
You’ll learn:
✓ The details of what Budget 2025 delivered
✓ What activities and expenditures now qualify
✓ Documentation and claiming best practices
✓ Industry-specific considerations for tech, manufacturing, and cleantech
✓ Strategic guidance for newly eligible public companies
Feature image courtesy Council of Canadian Innovators.