Canadian ambition is not in short supply

This essay from CCI’s CEO was originally featured in the CCI Newsletter and shared with subscribers on May 1, 2026. To receive our monthly briefing on the scale-ups shaping Canada’s future, the policies that matter, and insights you won’t find anywhere else—subscribe here.

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Hi CEOs,

As this newsletter lands in your inbox, I’m in St. John’s, Newfoundland, ahead of EnergyNL, the largest industry event in the region, meeting with members and partners and talking about the opportunities outlined in CCI’s Atlantic Playbook.

It also marks six months since I stepped into the role of CEO of the Council of Canadian Innovators.

I’ve spent much of that time on the road meeting builders across the country, which seemed like a good reason to share a few observations from the field.

1. Canadian ambition is not in short supply

Over the past six months I’ve met founders opening offices in Europe, Australia and the United States, executives investing heavily in product development, and entrepreneurs making bets that would keep most people awake at night. At no point have I looked at these leaders and thought they suffer from a lack of ambition.

That’s why I’ve grown increasingly skeptical of the claim that Canada’s primary economic challenge is cultural. It’s a convenient explanation because it shifts responsibility onto entrepreneurs rather than forcing a harder conversation about whether Canada has built the institutions, policies and capabilities needed for a modern economy. The challenge isn’t ambition. It’s that we’ve been slow to create the conditions that allow ambitious companies to scale and compete from here.

At BetaKit’s Most Ambitious Awards last week, our Chair Jim Balsillie captured it well when he told the room: “You guys have done what you’ve done with the wind at your face. Imagine if you had the wind at your back.”

2. The walk between meetings is often more valuable than the meeting

A walk from an office to lunch in Vancouver. The trek between meetings in 1 PVM to 3 PVM in downtown Montreal. A few extra blocks from 235 Queen St. to Byward Market in Ottawa before heading back to Parliament Hill. Something changes when people have a conversation while traversing the urban landscape. Perhaps it’s the fresh air, perhaps it’s the elevated heart rate, but I’ve come to appreciate that exercise is good for more than just physical health.

3. Canada’s airports are missing an opportunity

I’ve spent enough time in airports this year to notice that much of Canada’s innovation economy seems to pass through the same terminals. As airports increasingly become the third spaces of our entrepreneurial ecosystem, there is likely room for networking hubs designed for innovators in transit, places where founders, investors and operators can compare notes, make introductions and explore opportunities between flights rather than sitting alone behind a laptop.

Perhaps there’s a future CCI pop-up café at YYC or YUL. All innovators welcome.

4. Perfecting your packing makes for the perfect trip

I’ve become convinced that a reliable carry-on (I use one from Vancouver’s Monos), a capsule wardrobe and enough packing cubes to survive a week of meetings with minimal thought are among the most underrated productivity tools available to busy executives. I realize this may be the least profound observation in this newsletter, but I stand by it.

Given how much time our members spend on the road creating markets, building companies and meeting customers, perhaps CCI membership should include a set of custom packing cubes.

5. The best ideas still come from people, not AI

Nothing quite replaces eye contact, reading the room, hearing someone work through a challenge in real time, or watching a group of leaders build on one another’s thinking. Some of the most valuable conversations I’ve witnessed this year started with one CEO describing a problem and ended with several others sharing perspectives, solutions or experiences that reshaped how they approached it.

That’s one reason I’m so excited for this year’s Canada’s CEO Summit in Vancouver. The conversations that matter most in October are rarely obvious in June, which is why we won’t finalize the agenda until later this summer. The goal isn’t to predict what leaders will be thinking about months from now; it’s to make sure we’re discussing the opportunities and challenges that are actually top of mind when they arrive.

6. Momentum has a way of attracting more momentum

I’ve believed the expression “if you want something done, give it to a busy person” for most of my career. Six months into this role, I’m increasingly convinced the same principle applies to organizations.

This has been one of the busiest periods in CCI’s history. We’ve expanded the team, launched new initiatives, welcomed new members and found ourselves working on more files than ever before. At the same time, governments, companies and partners have increasingly come to us looking for help navigating questions related to procurement, trade, health care, defence, commercialization and economic growth. It’s a fortunate position to be in, and one we don’t take for granted. We exist to help where we can, and I’m proud of the work our team does every day to support Canada’s innovators and entrepreneurs.

Six months in, that’s probably the lesson I keep coming back to. There is far more ambition, momentum and possibility in this country than many people realize, and it has been a privilege to spend time with the people building it. If I can use this role to help amplify their voices, connect the dots and create the conditions for more success, then I’m doing exactly what I hoped to do when I accepted the job.

There’s always more to do, but that’s the best part.

Onwards,

Patrick
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INNOVATION UPDATES

Ontario’s Defence Industrial Strategy: Ontario released its framework for a 10-year Defence Industrial Strategy at CANSEC, setting out a plan to strengthen the province’s defence industrial base and grow domestic capacity in strategic sectors. CCI welcomed the focus on areas where Ontario companies already have real strength, while noting that the strategy will only matter if it helps Canadian innovators win customers, commercialize their technology, and grow from here. Clearer procurement pathways, stronger protection for Canadian intellectual property and data, and public investments tied to Canadian economic value will be key to getting this right. Read CCI’s full statement here.

Defence Procurement and Canadian Growth: The federal government announced new measures tied to Canada’s Defence Industrial Strategy, including procurement reforms, a Defence Concierge Service, and new industry engagement mechanisms. In his analysis of the announcement, CCI Director of Federal Affairs Daniel Perry noted that defence procurement can play an important role in helping Canadian companies compete, scale, and build long-term industrial capacity at home. Read his full analysis here.

Canada’s early-stage investment gap: A new report from the Business Development Bank of Canada warns that Canada’s early-stage capital gap has become more than a financing challenge — it is increasingly a sovereignty issue. Read BetaKit's coverage here.

For more of our perspectives on Canada's innovation ecosystem, visit the updates page on our website.
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THE BIG READ

This month, Sean Silcoff at The Globe and Mail examined how escalating Canada-U.S. trade tensions are forcing some of Canada’s largest technology companies to consider contingency plans that would have seemed unthinkable just a few years ago. The piece focused on PointClickCare, one of Canada’s biggest homegrown software companies, and its internal discussions around potentially relocating to the United States if worsening trade conditions begin to threaten access to its core market.

Concerns across Canada’s innovation economy as companies navigate growing uncertainty around tariffs, procurement policies, trade negotiations, and economic sovereignty are top of mind for us at CCI. Quoted in the article is Dana O’Born, our Chief Strategy Officer, who warned that the possibility of leading Canadian firms considering relocation should serve as “a stark warning sign for the federal government,” arguing that Canada cannot afford to lose the companies, talent, and innovation capacity needed to drive long-term productivity and prosperity.

Read the full article here.
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SCALE-UPS TO WATCH

In May, we welcomed some new members and highlighted some of Canada's brightest innovators.

• Inetco, led by CEO and Founder BIJAN SANII, is a Vancouver-based company specializing in real-time transaction monitoring and AI-driven payment fraud prevention. Working with financial institutions, payment providers, and fintechs in more than 30 countries, INETCO helps organizations detect fraud before losses occur, stop payment fraud and cyber-attacks in milliseconds, and strengthen security across every customer transaction.
  
  
• Stay22, led by CEO ANDREW LOCKHEAD, is a Montreal-based technology company helping creators and publishers turn their existing audiences into new revenue. Its platform works quietly in the background to support partners across travel, retail, lifestyle, publishing, events, and transportation, with more than 6,500 creators and publishers using Stay22 to drive over $1 billion in annual transactions in 2025.

CCI also published the latest story in its By Canadian Innovators series, featuring ICI Innovations and Formic AI and their work to help regulators, project proponents, and communities navigate the growing complexity of major project reviews through responsible AI and advanced information management systems. Read more.

CCI’s Seen & Heard recap from the 2026 Capital & Growth Summit in Toronto captured a timely conversation on what Canadian companies need to secure capital, manage risk, and scale globally in a more volatile economic environment. CCI members NIRAJ MATHUR (Blumind) CHRISTIAN WEEDBROOK (Xanadu), and LYNE JACQUES (Miovision) spoke about the importance of patient capital, market access, and keeping long-term value anchored in Canada. Read more.

CCI members continued to show how Canadian innovators are growing, competing, and leading in markets at home and around the world:

• Novarc signed an agreement with Hanwha Ocean to collaborate on advanced naval and commercial shipbuilding applications using its industrial AI and welding intelligence platform.
• Clio crossed US$500 million in annual recurring revenue.
• Ross Video is expanding its manufacturing and R&D operations in Ottawa and Iroquois with a $122.5-million investment that will create 125 new jobs in Eastern Ontario.
• NanoTess secured federal support to bring its Canadian-built catalytic wound-healing technology into defence settings, where faster treatment and longer dressing intervals can matter in the field.
• Formic AI signed an agreement with Korea’s KAIT to bring its explainable retrieval technology to more regulated enterprise markets in AI, ICT, and quantum technology.
• Inetco surpassed 100 billion annual transactions monitored as demand for real-time payment fraud protection and transaction intelligence continues to grow globally.
• Punchcard Systems helped Alberta cut nurse licensing approval times from months to under an hour
• BUZZ HPC partnered with Bell Canada to advance sovereign accelerated GPU infrastructure at Bell’s AI Fabric facility in Merritt, B.C.

Also, in last month's newsletter, I highlighted the responses shared by our members on the Canadian companies that they're using to power their growth. A few more recommendations arrived in my inbox after that newsletter, so I wanted to share them here:

• NuEnergy.AI for AI governance, risk management, and building trust and accountability into AI systems. https://www.nuenergy.ai
• Micrologic for sovereign cloud infrastructure, cybersecurity, and Canadian-based data hosting. https://www.micrologic.ca
• BUZZ HPC for sovereign AI and high-performance computing infrastructure. https://www.buzzhpc.ai
• Rise for HRIS, payroll, benefits administration, and workforce management. https://www.risepeople.com
• BluWave-ai for electricity utilities and electrified transportation, helping optimize energy systems through AI. https://www.bluwave-ai.com
• OpenText for enterprise content management, cybersecurity, information management, and business operations software. https://www.opentext.com
• BorderPass for immigration services, visa processing, and global mobility support. https://www.borderpass.ai
• Avanti for HRIS, payroll, workforce scheduling, and people management. https://www.avanti.ca
• Pllenty for customized payment, donation, and digital transaction workflows. https://www.pllenty.com
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CCI IN THE NEWS

“Cases like this are an important reminder that today’s global markets are deeply contested, particularly in sectors where intellectual property, standards, workflows, and platform infrastructure shape competitive advantage,”

– CCI CEO Patrick Searle featured in The Globe and Mail article "Vancouver’s Hiive, a fast-growing stock exchange for private companies, sued by Nasdaq spinoff"

“Our natural resources and clustered expertise in oceans, defence, bioscience, agritech, AI and cybersecurity create deep value chains, and our established dual-use innovation ecosystem turns domain data and local research into competitive advantage.”

– CCI Atlantic Senior Advisor Karen Moores featured in Digital Journal article "Atlantic Canada's innovators are global, but their home market isn't"

“Wealth, power, and security are rooted in the ownership and control of intangible assets.”

– CCI Chair Jim Balsillie featured in BetaKit's article "Jim Balsillie says Canada must put forward economics policy for the 21st century"

“We cannot let the world – and Canadians! – think that our country is a second-best option for innovative investment.”

– CCI Vice President of Policy & Advocacy Laurent Carbonneau featured in Forbes's article "It's Time For Canadians to Stop Playing Nice"

“This should serve as a stark warning sign for the federal government. If our best, brightest and most successful entrepreneurs are running the numbers to flip the switch and relocate to the U.S., we need to pull all the stops to make sure this does not happen.”

– CCI Chief Strategy Officer Dana O'Born featured in The Globe and Mail article "Canadian tech star PointClickCare has contingency plan to move to U.S. if trade war worsens"
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DISPATCHES

What happens when Atlantic Canada’s innovators bring their growth agenda directly to Ottawa?

In this month's dispatch from the field, Karen Moores recaps CCI’s inaugural Atlantic Innovators Day on the Hill, where founders and executives shared the recommendations of the Atlantic Playbook with federal decision-makers. The conversations focused on a simple question: how do we create the conditions for more Atlantic Canadian companies to scale globally while remaining anchored in the region?
Read the full recap here.

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