While Nivard\u2019s methodology notes that the list isn\u2019t exhaustive\u2014for one, it defines a Canadian connection through citizenship, birthplace, or education\u2014it\u2019s supported by data showing a lack of capital in Canada. BDC called Canada\u2019s early-stage funding gap an \u201ceconomic sovereignty\u201d issue in May; this month, CCI found Canadian startups too often sell to foreign buyers when it\u2019s time to scale; and CFIN found there\u2019s barely any Canadian capital in foodtech beyond the seed stage.<\/p>\n
Nivard, who himself spent time in Montr\u00e9al before moving to San Francisco, told me he started the database when Y Combinator briefly removed Canada from its list of accepted incorporation countries, stoking outrage about a phenomenon<\/a> BetaKit has tracked for years.<\/p>\n The discourse hit a fever pitch this week when Jesse Rodgers of Builders Club reshared stats from the list, calling it a \u201cdamning\u201d portrait of where Canada underdelivers. Build Canada CEO Lucy Hargreaves called it a \u201cfive-alarm fire for policymakers.\u201d<\/p>\n In Nivard\u2019s opinion, the policy conversation shouldn\u2019t focus on how to stop the drain. \u201cVenture outcomes at this scale [are] one of Canada\u2019s great exports, and it should be a point of pride rather than a grievance,\u201d he wrote in an email. Rather, it\u2019s a chance for Canada to uplift ambitious founders who want to move here, and those who want to stay, he said.<\/p>\n Either way, policymakers<\/a> have reportedly taken note. We\u2019ll be watching to see how the fall budget will aim to keep the next class of those founders here at home.<\/p>\n Madison McLachlan, Your finance team has better things to do than chase receipts.<\/p>\n Time is money. Ramp is a finance automation platform built to save you both.<\/p>\n One platform for corporate cards, employee expenses, reimbursements, and bill payments.<\/p>\n See every swipe as it happens. Automatically block out-of-policy spend.<\/p>\n When a receipt comes in, Ramp extracts the details and matches them to the related card transaction, which can then be auto-coded with GST\/HST details and sent straight to your accounting system.1<\/p>\n The average customer saves 5%2 in their first year.<\/p>\n Learn more about Ramp<\/a><\/p>\n Top stories from BetaKit<\/p>\n BDC\u2019s yearly checkup<\/p>\n The Business Development Bank of Canada, the Crown corp that runs Canada\u2019s largest VC firm, reported its fiscal 2026 results<\/a> this week. Its VC arm saw a net revenue loss of $70.9 million, but net income ultimately grew as the value of its investments rose by more than $400 million.<\/p>\n Vibe-code your hardware<\/p>\n A16z speedrun-backed Toronto startup Blueprint has raised $1.4 million<\/a> to build the \u201cLovable for hardware,\u201d helping anyone turn their AI prompts into prototypes. Go ahead, make your own MP3 player.<\/p>\n Moneyball, in Canadian dollars<\/p>\n How did the Blue Jays make the World Series? They spent their capital smartly, according to Graphite Ventures managing director Aaron Bast, who argues in an op-ed for BetaKit<\/a> that Canada should do the same in its fight against US tariffs.<\/p>\n Smart glasses detector<\/p>\n It\u2019s getting harder to spot smart camera glasses like Ray-Ban Meta. Ottawa-based product designer Marcos Rezende has made a way to detect them<\/a> with NearLens, giving users a way to know if they\u2019re potentially being discreetly recorded.<\/p>\n Clearco \u201crecscaling\u201d<\/p>\n After layoffs, leadership changes, and a recapitalization in 2023, Toronto FinTech company Clearco now says it\u2019s on track to break even<\/a> later this year, after it secured $100 million USD in asset-backed debt financing.<\/p>\n Sponsored stories<\/p>\n Lessons on early-stage fundraising from Canadian startups that have closed rounds<\/p>\n The MaRS Investment Accelerator Fund<\/a> provides early-stage Ontario startups with initial seed funding alongside hands-on guidance, networking opportunities, and investor pitch preparation to help them refine their business strategy and raise future capital.<\/p>\n Global AI leaders on the agenda at ALL IN 2026<\/p>\n ALL IN 2026 is Canada\u2019s largest AI conference<\/a>, serving as a national asset to showcase Canadian talent, attract foreign investment, accelerate global innovation, and build key cross-border partnerships.<\/p>\n Canada\u2019s new R&D rules give deep tech a much-needed break<\/p>\n Boast helps deep tech founders maximize their SR&ED tax credits<\/a> by assessing eligibility and recovering capital equipment costs, securing the financial runway needed to bring innovations to market.<\/p>\n Deals and dollars<\/p>\n Who cashed in, or out, this week:<\/p>\n Helcim secured<\/a> a $53-million Series C as it looks to fill a new vacuum within Canada\u2019s payments infrastructure. (Calgary)<\/p>\n Peripheral secured<\/a> another $8.7 million USD to bring spatial intelligence tech to sports. (Toronto)<\/p>\n Magic Potion Games raised<\/a> an undisclosed Series A as its Club Penguin successor, Imagine Island, exits beta. (Kelowna)<\/p>\n NLPatent rebranded<\/a> to Clerq alongside an agentic AI overhaul of its patent automation platform. (Toronto)<\/p>\n A16z speedrun-backed Space raised<\/a> $2.4 million USD to build a more seamless version of Dropbox and Google Drive. (Toronto)<\/p>\n Brdg secured<\/a> $850,000 to simplify construction loan management with AI. (Montr\u00e9al)<\/p>\n Aerospace software StratosX landed<\/a> a partnership with Air Transat to help minimize flight disruptions. (Montr\u00e9al)<\/p>\n AI market research platform Boundless Discovery secured<\/a> $2 million USD, the company told BetaKit. (Halifax)<\/p>\n Main character<\/p>\n \u201cOur conviction is that this will become the critical infrastructure layer for all areas of robotics.\u201d<\/p>\n \u2014Ex-Nvidia lab leader Sanja Fidler on world models, the focus of her new startup<\/a>.<\/p>\n The refresh<\/p>\n What lawn-mowing can teach you about computer science<\/p>\n Can you mow this lawn as efficiently as a machine? The Pudding<\/a> used this mini-game to collect data on human behaviour to better understand one of the most famous path-planning problems in computer science.<\/p>\n ALL IN 2026: Help shape the future of AI & tech<\/p>\n Join 7,500 leaders, decision-makers, tech providers, researchers and startups ALL IN on Sept. 16-17.<\/p>\n Discover real-world AI applications, forge global partnerships, and help drive the future of Canada\u2019s economy. <\/p>\n Explore the full program.<\/a><\/p>\n BetaKit Podcast\u00a0\u00a0\u00b7\u00a0\u00a0Aug 14<\/p>\n \u201cWhen we talk about sovereignty, we\u2019re talking about strategic capacity. Can you govern yourself with the tools that you have?\u201d<\/p>\n What would happen if, overnight, Canada suddenly lost all access to American tech? Canadian Shield Institute managing director Vass Bednar joins to answer that question before discussing how Canada can bootstrap digital self-reliance in the face of weaponized integration. Listen now \u203a<\/a><\/p>\n 1\u00a0Direct sync available for supported accounting systems: QuickBooks Online, Xero, NetSuite, Microsoft Business Central, and Sage Intacct.<\/p>\n
Montr\u00e9al reporter<\/p>\n![\"\"](\"https:\/\/www.europesays.com\/canada\/wp-content\/uploads\/2026\/08\/600x300_Canda-Asset-Resize-V5-1024x512.jpg\" "\\"600x300_Canda")
<\/a><\/p>\n![\"\"](\"https:\/\/www.europesays.com\/canada\/wp-content\/uploads\/2026\/08\/Sanja-Fidler-square.jpg\" "\\"Sanja-Fidler-square")
<\/a>Image courtesy Toronto Tech Week.<\/p>\n![\"\"\/](\"https:\/\/www.europesays.com\/canada\/wp-content\/uploads\/2026\/08\/Pudding-The-Refresh.jpg\")
<\/p>\n![\"\"](\"https:\/\/www.europesays.com\/canada\/wp-content\/uploads\/2026\/08\/ALL-IN-newsletter-placement-Aug-22-1.jpg\" "\\"ALL-IN")
<\/a><\/p>\n![\"\"](\"https:\/\/www.europesays.com\/canada\/wp-content\/uploads\/2026\/08\/Vass-Bednar-on-the-betakit-podcast-1024x512.jpg\" "\\"Vass")
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