News Summary

The Canadian tech sector is exploring opportunities to attract skilled foreign workers from the United States following a new policy imposing a $100,000 USD fee on H-1B visa applications. Industry leaders, including Martin Basiri of ApplyBoard and Passage, are advocating for new immigration strategies to bring H-1B holders to Canada, positioning it as a stable destination for tech talent. Meanwhile, Canada faces challenges as its own tech entrepreneurs increasingly move to the US, driven by factors such as higher wages and better capital access. The decline is reflected in a survey by Leaders Fund, showing a decrease in Canadian-led startups headquartered domestically. Despite recent growth in tech talent, Canadian salaries lag behind the US, and the country risks becoming a branch plant economy without clearer policies to retain and grow its tech sector.