Canada’s tech industry is warning that the country continues to lose its best and brightest entrepreneurs to the U.S., an issue that has taken on new urgency as tariff threats have prompted Ottawa to try to diversify away from the U.S. economy.
This week, various tech entrepreneurs, politicians and economists began to weigh in on data that show just how big the problem has become. According to recent figures, there are at least 517 U.S.-based tech firms with Canadian founders — or, entrepreneurs who were educated in Canada but later left for the U.S. — that have together raised more than US$400 billion.
“The numbers make it clear that Canada’s founders and entrepreneurs are leaving in droves — and they are taking the future value they will generate with them,” said Lucy Hargreaves, co-founder of the business advocacy group Build Canada, who issued a call to action in the form of a LinkedIn essay that triggered an online conversation about the trend.
But that wouldn't stop them from taking their jobs there and paying taxes there.
No, it wouldn't. But is the US model one we want to emulate? I'd say no, so I think we need to look at alternative methods that allow us to get our fair share of the revenue from those companies, discourage those companies from leaving to start up elsewhere, and innovate.
Add in more funding and assistance for startups, using the DST and it should help move things along. Maybe low-interest loans to new businesses?
Well with the latest collapse in talks hopefully everything's back on the table for discussion