The next 150 years of Canadian tech
By: Chris Dulny Partner, National Technology Sector Leader at PwC Canada
Why Canadian tech needs to think big to win big
The history of Canada has been one of innovation. It’s a history Canadians deserve to be proud of. Over the past 150 years, lives have been saved by Canadian medical innovations, enriched by our work in telecommunications and interconnectivity, and expanded by our contributions to aerospace and related technologies.
These achievements are hardly a surprise. Canada is blessed with a world-class education system, generous government funding for research and development, a high standard of living, a land rich in resources, and a population that embraces people from around the world. No doubt these advantages will lead us to even greater innovation in the future.
Or will they?
At last week’s #BetaKit150 event, we had important conversations about the future of Canadian innovation. A common thread between speakers was that when it comes to innovation, Canada cannot afford to become complacent. We need to think better. Bolder. Bigger.
We need to ask hard questions of ourselves. Can we lead the world in the development and monetization of technology? Can we think on a larger scale, and take our place as global leaders?
It’s in our nature to be unsettled by such questions. In 2010, a study by global insurer RSA showed Canadians to be more cautious and risk-averse than people in many other nations. Even today, many of us consider modesty and reservation noble parts of our national character.
But times are changing. Canadian tech is seeing a moment of unique opportunity. For the first time in decades, we are in a prime position to step out of the shadow of our southern neighbour and seize a title not only as tech innovators, but as leaders on a national and global scale. Here’s why:
Canada is leading the way in AI
Artificial intelligence is driving huge innovation in technology and American tech giants are seeing promising opportunities north of their own border. Google’s recent investment in The Vector Institute, Element AI’s $137.5M Series A, and Uber and Microsoft’s AI teams in the Toronto-Waterloo corridor are solidifying Eastern Canada’s reputation as a hotspot for AI and deep learning research. As this momentum builds, our government is working to retain our brightest talent and cement our status as leaders in the field. Initiatives like the $125M Pan-Canadian AI Strategy have put us well on the right track.
Forces are reversing Canada’s brain drain
Mary Meeker’s 2017 Internet Trends shows that fifty percent of the highest-valued startups in the USA were co-founded by immigrants. The same may soon be true here. As our immigration policies draw the global talent stream to Canada, the world is paying attention. The Government of Canada’s new Global Skills Strategy presents another opportunity to draw in top talent. Encouraging skilled immigrants to start up or work in Canadian companies will set us apart from Silicon Valley as we tackle global problems using global talent.
Our tech ecosystem embraces collaboration
Embedded into our national identity is the spirit of openness and collaboration, as exemplified by the Open Letter. It’s one that will push our tech ecosystem towards greatness. Many of Ontario’s fintech or legal incubators place innovative upstarts alongside large incumbents-instead of pitting them against each other-and facilities like the MaRS Discovery District reiterate our willingness to embrace new business models. Here, our Canadian mindset may just be our greatest asset.
President Obama was right: the world needs more Canada. And Canada needs to seize this moment.
At #BetaKit150, it struck me that that the innovative and collaborative minds of our tech leaders can positively influence many of our national debates and outcomes. If our tech community takes a greater share of voice, Canada will reach even greater heights in the next 150 years.
Tech is the central driving force to our success as a nation. I look forward to seeing you all in the driver’s seat.
Originally published on Linkedin on June 27, 2017.
