Building a startup in Canada? Let’s face it—we have an ecosystem that isn’t working. There are fewer full-time entrepreneurs in Canada than ever before, and talent is leaving. This is largely due to poor economic policies and leadership. However, the narrative that Canadian founders lack ambition is short-sighted and out of touch. We have some of the most hard-working and ambitious founders in the world. Let’s focus on the root issues crippling the ecosystem. While these factors are multifaceted, let’s start with the following:
1. Lack of Affordability
Affordability is the elephant in the room, not the 600-pound beaver. How can people start companies when the cost of living is so high? We need to get the basics right—groceries and housing. These are some of the most pressing issues in our society, yet nothing meaningful has been done.
2. A More Value-Driven Startup Ecosystem
We lead the world in the number of startup accelerators and incubators. You can check out the full ecosystem guide here. But where is the funding to support early-stage founders? There’s too much bloat in some of these startup programs. A comment by this founder on Linkedin social network summarizes the challenges:
Is the ecosystem holding Canadian founders back? Another Canadian founder commented on LinkedIn about this.
Here are more tech leaders commenting on this on X, the social network.
3. Making Entrepreneurs Jump Through Hoops for Funding
Why are we asking entrepreneurs to write 30-page business plans for $5K in funding? We should be funding full-time founders with fewer hurdles and less red tape. Entrepreneurship centres need to evolve in Canada to create more tech leaders in the community.
4. Talent Retention Needs to be Addressed
Our top talent and founders are leaving the country at an alarming rate. The reality?
Canadians are overworked, overtaxed, and underpaid—pushing them to seek better opportunities elsewhere, especially down south.
5. Tech Leaders Who Grow the Pie
Giving early-stage founders a chance is crucial. If you’re a tech leader and a founder reaches out to you, try their product when you can. Give them a clear yes or no. And most importantly, let’s stop ghosting local entrepreneurs. We need more Canadian tech leaders who actively grow the pie for all.
6. Fix the Policies First, Then the Culture Follows
Current economic policies are leading Canada down a dangerous path. Canadian purchasing power is declining, and these policies are driving more Canadians into poverty. Poor policies and leadership are killing innovation in this country before it even starts. This all starts with the ‘sorting” the economy:
These discussions need to be heard and turned into action. While there may be times when founders seek early exits in Canada, that doesn’t make us any less ambitious. We can certainly aim higher, but we need an ecosystem that truly supports ambitious entrepreneurs in Canada.
Do you think we have an ambition problem? Share your thoughts with us.
