News Summary

Following the recent Liberal victory under Prime Minister Mark Carney, Canadian tech leaders are calling for urgent policy reforms to boost innovation and investment in the country. The Canadian Venture Capital & Private Equity Association (CVCA) has highlighted the need for tax reforms and support for domestic companies amidst trade tensions with the United States. Industry groups like the Council of Canadian Innovators (CCI) and the Centre for Canadian Innovation and Competitiveness (CCIC) are pressing for policies that scale Canadian firms and attract business investment. MaRS CEO Grace Lee Reynolds and other startup leaders emphasize the importance of reforming government procurement to favor Canadian companies. The fintech sector is also seeking advancements in open banking, with Fintechs Canada expressing eagerness to collaborate with the Carney administration. The tech community is looking to leverage AI and open banking to strengthen Canada’s economic resilience.