Québec elected a sovereigntist minority government this week. National attention has focused on the threat to Canada’s unity; it’s the second time in recent months Québec has drawn wider attention for its unique business climate, after claims that its language law requirements were in part to blame for the US-Canada trade deal meltdown. With a minority government, it’s very likely a referendum won’t happen for at least another two years. For the province’s tech sector, the real question is how the new government will address immediate economic issues rather than a theoretical split from Canada.
The Parti Québécois has promised to cut corporate taxes, boost productivity through automation and robotics, and cut bureaucratic red tape. To help do that, the party said it would abolish the Fonds du développement économique (Economic Development Fund), which allows Investissement Québec to administer financial assistance programs to many SMEs. Finding and retaining tech talent might be another challenge, as the PQ is proposing stricter immigration measures.
Québec Tech CEO Richard Chénier wants to see more clarity on how policies might be better tailored to the fast-growing startup sector. While cutting taxes is a good idea, he told BetaKit, “for startups, sometimes it doesn’t have any impact.” Council of Canadian Innovators Québec director Jean-François Harvey told BetaKit in an email that amid trade war chaos, the sector needs “stability and predictability.” Tax cuts and redirected government support for SMEs are good moves, but as with any policy, the “devil is in the details,” he said.
These asks aren’t new. Just before the election, Québec business leaders, including Sagard CEO Paul Desmarais III, called for the province to be more economically ambitious. CCI has proposed measures like a VC investment tax credit, procurement reform, and immigration fast-tracks for skilled workers.
With a referendum off the immediate horizon, the local tech sector seems more hopeful than panicked. Whether Québec’s innovation economy creates long-term growth might depend on a collection of many smaller choices before we get to Oui or Non.
Madison McLauchlan,
Montréal Reporter
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On the move
This week’s hires, fires, and exec shakeups:
- Canadian tech giant Shopify ranked third on Forbes’ annual World’s Best Employers list.
- Montréal-based cleantech VC firm Cycle Capital hired former BDC Capital partner Rémi Fournier as managing partner.
- Council of Canadian Innovators chief strategy officer Dana O’Born left the lobby group after 10 years to become the defence minister’s chief of staff.
- Toronto-based satellite firm Kepler Communications appointed Caitlin Marsh as president of its US operations to lead growth south of the border.
- Adtech firm BrandMo is expanding its team after naming Toronto as its global HQ. It’s also hiring sales directors across Canada, the company told BetaKit.
- The University of Toronto established a $100-million scholarship program to attract top PhD applicants from Canada and around the world.
- Stay22 chief commercial officer and co-founder Frederic Aouad announced he’s leaving the Montréal traveltech company after seven years.
- Toronto innovation hub MaRS Discovery District appointed former TMX Group CEO Barbara Stymiest as board chair following Annette Verschuren’s retirement.
- Chartered Professional Accountants Ontario assembled the Competitiveness and Value Creation Task Force, co-chaired by Jim Balsillie and Carol Wilding.
- Nearly half of heavy industrial workers use AI, but formal training is lacking, according to a new report from Edmonton’s Punchcard Systems.
- The Globe and Mail explored how more young Canadians are relying on gig work and side projects to create multiple sources of income.
Want to feature a hiring announcement in our list? Email partnerships@betakit.com with the subject line JOBS.
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#1. US-based Amazon users have discovered the app is making assumptions about them based on the data it has collected. Which of the following has Amazon surmised about users?
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Quiz answer: d) All of the above. According to the numerous viral posts of users sharing their “About You” pages compiled by The Verge, Amazon’s assumptions can be quite mean.
Quiz answer: d) All of the above. According to the numerous viral posts of users sharing their “About You” pages compiled by The Verge, Amazon’s assumptions can be quite mean.
Contributors: Alex Riehl (Ottawa staff writer), Douglas Soltys (editor in chief), Madison McLauchlan (Montréal Reporter), Sarah Rieger (managing editor), Trevor Nichols (web editor).
Feature image courtesy Paul St-Pierre Plamondon via LinkedIn.