Venture for Canada taps Steven Wang for CEO

Venture for Canada (VFC) has appointed a new chief executive as it adapts to a changing tech industry.

The charity for young entrepreneurs has said Steven Wang will start as CEO on Oct. 13. Wang replaces founder Scott Stirrett, who created the organization in 2013. Stirrett had already announced his October departure in May.

“[Wang] brings a rare combination of entrepreneurial vision, cross-sector experience, and passion for strengthening Canada’s talent pipeline.”
Parm Gill,
Venture for Canada

Wang has lately served as a commercial lawyer, focusing on mergers and transactions, in both New York City and Toronto. He has also lectured on artificial intelligence (AI) governance and global affairs at the University of Toronto and Harvard University. In China, he was the executive director for the social innovation non-profit Yiqiao.

VFC board chair Parm Gill claimed in a statement that these talents are crucial as Wang planned to both scale the organization’s Entrepreneurship Through Acquisition program and embrace AI at a time when the economy is dealing with “unprecedented challenges.”

“[Wang] brings a rare combination of entrepreneurial vision, cross-sector experience, and passion for strengthening Canada’s talent pipeline,” Gill said.

Wang, in turn, argued in a statement that VFC’s focus on empowering young entrepreneurs was “more important than ever.” He said his background as an immigrant helped him understand the values of community and education.

“My hope is to future-proof the next generation with the tools of tomorrow while also harnessing their talents to help startups and small and medium-sized businesses thrive by adopting technologies, including AI, thoughtfully and responsibly,” Wang said.

In May, Stirrett announced plans for his October departure, noting in a LinkedIn post that a search had begun for his replacement. He promised a “smooth and thoughtful transition” with his successor while he considered “new entrepreneurial endeavours.”

VFC began as an “early stage nonprofit,” according to the charity, but has since evolved into a Canada-wide firm that claims to have raised over $80 million. It has launched programs in regions like Atlantic Canada and British Columbia to foster internships and connect startups to recent graduates. It has also received funding from federal and provincial governments while forging partnerships with BDC Capital, legal giant Dentons, and the now-struggling Lighthouse Labs.

Image courtesy Venture for Canada