This essay from CCI’s CEO was originally featured in the CCI Newsletter and shared with subscribers on November 2, 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.

Dear CEOs,

As this newsletter lands in your inbox, I'm arriving in Ottawa for a week that will include the federal budget and, more importantly, time with the people building businesses in this region. Today's itinerary includes visits with CCI members RAVEN CONNECTED, GIATEC SCIENTIFIC, and LARUS TECHNOLOGIES, three companies I'm looking forward to spending time with.

October was a particularly full month at CCI, with stops in Vancouver, Toronto, London and Montréal. Rather than give you another rundown of events, I thought I'd share a few observations from the road.

Vancouver

We welcomed more than 165 business leaders to the Rosewood Hotel Georgia for our annual CEO Summit, presented by Roynat Capital Scotiabank. The gathering included ten private CEO dinners and two days of conversations with some of Canada's most ambitious entrepreneurs.

Our team came together from across the country knowing who needed to meet whom, which introductions might lead somewhere, and where a conversation between two CEOs could prove particularly useful. For two days, our colleagues were in their element, acting as something between hosts and concierges, connecting old friends, introducing new ones and making sure everyone felt part of the room.

It takes an enormous amount of preparation to make an event feel effortless, and I'm particularly proud of the care our team puts into it. We want people to leave with relationships they didn't have two days earlier, ideally with someone who can help them build a better business.

Toronto

At a private dinner hosted with RBCx, Canadian technology CEOs compared notes on how they're making their businesses more competitive, including through the technology they buy. Several spoke about making their technology stacks more sovereign by adopting Canadian solutions that outperform their foreign competitors.

I find this far more interesting than the usual appeals to buy Canadian out of patriotic obligation. Our companies are building exceptional technology, and some of their most valuable customers could be other Canadian businesses that simply haven't discovered them yet.

London

At our Innovator Exchange alongside the Best Defence conference, we brought together companies working in defence and dual-use technologies, as well as members of the CAF, DND and federal agencies.

Canada's defence debate has focused heavily on how much we intend to spend, with far less attention paid to what we intend to build. A larger defence budget can improve our military capabilities, but procurement that establishes Canadian suppliers can also create companies, intellectual property and industrial capacity that serve the country for decades.

(In November, CCI is hosting two important defence-related events, including the launch of our ITB policy vision and a special gathering at Knowledge Park in Fredericton for defence innovators in the region. If you're interested in either, send me a note!)

Toronto, again

At the second annual Source Canada conference, I joined Senator Colin Deacon and Lukas Lhotsky of Bell on stage for a conversation about whether Canada's renewed interest in economic sovereignty will translate into meaningful changes in how we invest, build and buy.

One of the more interesting questions was whether the past year has genuinely changed how Canadian institutions think about their responsibilities. We have no shortage of speeches about economic security, but are our governments prepared to rethink procurement systems that prioritize process over outcomes? Are major corporations prepared to reconsider where they source their technology? And are we prepared to invest in the digital infrastructure and domestic capabilities that give us greater control over our economic future?

Montréal

Our final Innovator Exchange of the month took place around the EU–Canada Summit, bringing Canadian companies together to consider opportunities across the Atlantic.

Canada's renewed interest in diversifying trade is welcome, although I wonder whether we're spending enough time thinking about the companies that will actually do the trading. Opening new markets is one thing. Building Canadian businesses with the scale, capital and intellectual property to succeed in them is another.

Ottawa

That brings me to this week's federal budget, where we'll be looking for measures that make Canada a more competitive place to build, grow and invest in a business.

One of our priorities is the Bet on Canada campaign, which we launched in October alongside CVCA, CPA Ontario, the CBV Institute, NACO and C100. More than 500 Canadians from the business and investment communities have now signed our letter.

We're asking the federal government for two targeted tax reforms: a Canadian version of the American Qualified Small Business Stock incentive, which would reduce capital gains taxes for people who invest in and help build qualifying Canadian companies, and broader capital gains rollover rules that would allow entrepreneurs and investors to defer taxes when they reinvest proceeds from a successful investment into another qualifying Canadian business. We should want the people who build successful Canadian companies to invest their capital and experience in the next generation, and our tax system should give them every reason to do so here.

On Friday, November 6, CCI will host our annual federal budget debrief to examine what the government's decisions mean for Canadian innovators. I hope you'll join us.

In the meantime, please enjoy this month's newsletter. There's plenty happening across our community, and much to look forward to as we head into the final weeks of 2026.

Onwards to Vancouver,
Patrick

Patrick Searle is the Chief Executive Officer of the Council of Canadian Innovators, a national member-based organization reshaping how governments across Canada think about innovation policy and supporting homegrown scale-ups to drive prosperity. If you are interested in learning more about the Council or joining our cause, get in touch.

INNOVATION UPDATES

Quebec Election: Paul St-Pierre Plamondon and the Parti Québécois won Quebec’s provincial election. CCI congratulated the incoming government and called for action to help homegrown technology companies grow, compete internationally and retain ownership of their innovations. Drawing on our election recommendations, we highlighted public purchasing as an immediate opportunity to improve services while helping Quebec firms build a track record with customers.

Canada’s New Venture Capital Strategy: Ottawa announced the Early and Growth Stage Investment Strategy to help finance Canadian companies as they scale. CCI emphasized the need for later-stage capital and said success should be measured by whether companies keep their intellectual property and decision-making in Canada. Alongside the strategy, our Bet on Canada campaign calls for tax incentives that encourage investment and reinvestment in homegrown businesses.

Ontario’s Digital Identity Plans: Ontario is introducing optional digital credentials, starting with the Ontario Photo Card, and opening public consultations ahead of legislation. With standards, system design and procurement still taking shape, CCI called for early engagement with domestic innovators. Strong privacy and security protections, public trust and opportunities for Canadian companies to build and supply the system will be key measures of success.

B.C. Election: Lorne Doerkson and the Conservative Party of British Columbia won a majority government. CCI highlighted opportunities to put Canadian technologies to work in resource development and major projects, alongside the party’s commitment to invest in wildfire detection and prevention. Our election primer also calls for procurement reform, tax incentives and fewer licensing barriers to help homegrown technology companies scale and stay in the province.

Canada’s New National Security Policy: The federal government released The Plan for a Stronger Canada, making economic security a primary factor in decisions on industrial support, innovation and foreign investment. CCI supported that direction while flagging a central gap: who will own the capabilities Canada builds. We called for procurement and investment decisions that support Canadian technology companies and keep intellectual property in Canadian hands.

Ontario’s Fall Economic Statement: Ontario released its 2026 Fall Economic Statement amid tariffs and trade uncertainty. CCI’s response stressed the urgency facing technology companies deciding where to raise capital, expand and commercialize their next product. Drawing on our 2027 pre-budget recommendations, we called on the province to become a stronger customer for Canadian technology and direct public investment toward companies that retain intellectual property and decision-making in Ontario.

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

THE BIG READ

On October 7 and 8, more than 150 business leaders gathered in Vancouver for Canada’s CEO Summit, hosted by CCI. From access to capital and trade diversification to data and artificial intelligence, the program brought together perspectives from leaders building globally competitive businesses from Canada.

Read our full Seen & Heard here, and stay tuned for our 2027 location announcement!

SCALE-UPS TO WATCH

In October, we welcomed TAILSCALE and its Montréal-based co-founder and CEO Avery Pennarun to CCI’s national network of innovators. Founded in Toronto, Tailscale builds secure access infrastructure for people, applications and artificial intelligence agents. Its platform uses identity to connect users and systems directly to the resources they need across clouds, data centres and physical environments, helping more than 40,000 businesses control access while keeping it simple to manage.

Megan Leslie, CEO and co-founder of CCI member NANOTESS, spoke with The Globe and Mail about how the Calgary company’s wound-healing gel is helping Ukrainian soldiers and civilians. Since June, NanoTess has donated $600,000 worth of NanoSALV to Ukraine, where delayed evacuations make accessible wound care critical. The story also examines the company’s challenges increasing adoption in Canada, highlighting the barriers homegrown innovators face in getting their technologies into use. Read the full story.

This month, CCI members launched new technologies and secured deals to bring their products to more customers. Here are some highlights:

• IDENTOS launched PolicyArc, a Canadian-built platform that helps organizations control and audit access for people, services and artificial intelligence agents, with every access decision logged.
• ELECTROVAYA secured approximately $26 million in initial orders through a supply agreement with Janus Electric to provide battery systems for heavy-duty truck conversions in Canada and the United States.
• ZAFIN announced an agreement to acquire California-based Naehas, expanding its banking software capabilities and bringing its customer base to 16 of the top 20 U.S. banks once the deal closes.
• DAYFORCE agreed to acquire Toronto-based Ribbon AI, adding artificial intelligence-powered screening interviews and talent sourcing tools to its recruitment platform.
• RANOVUS launched a venture investment arm to strengthen Canada’s semiconductor supply chain and is exploring the purchase of the Canadian Photonics Fabrication Centre to maintain Canadian ownership.
• BORDERPASS partnered with Trent University to provide incoming international students with guided study permit application support, including reviews by licensed Canadian immigration lawyers.
• TAILSCALE is drawing on its Canadian roots to win business from governments and enterprises seeking less reliance on U.S. technology, investing in self-hosted networking software that gives customers greater control over their infrastructure.
• INTELLIJOINT SURGICAL was featured in BetaKit for its approach to growing independently from Canada, expanding internationally and bringing its surgical navigation technology to new markets through its IJX division.

CCI IN THE NEWS

Recent coverage featuring CCI and our members’ perspectives on Canada’s innovation economy:

"It’s just harder to build a company in Canada or to scale a company in Canada because these kinds of barriers interlock with each other and make it a lot harder than it has to be compared to other jurisdictions that treat these things as priorities."

– Laurent Carbonneau, Vice-President of Policy and Advocacy at the Council of Canadian Innovators, quoted in The Hill Times’ article “Innovation and private sector ‘not the enemy’ under Carney government, but tax reforms needed to support entrepreneurs, say innovation sector reps.”

“All stages are important, but the added emphasis on growth was what was missing.”
– CCI Vice-Chair John Ruffolo, quoted in BetaKit’s article “Canadian VC industry hails federal funding boost, but timing and early-stage gap remain concerns.”

“Strategic autonomy depends on Canadian ownership. If the technology and IP behind these capabilities are owned elsewhere, Canada’s dependence has simply moved onshore.”
– CCI Director of Federal Affairs Daniel Perry, quoted in BetaKit’s article “Canada’s new national security strategy puts tech front and centre.”

“We’re two years… into a trade war where we’re competing for capital and talent, so we’re not competitive. So, this is about getting competitive.”
– CCI CEO Patrick Searle, quoted in iPolitics’ article “Business groups advocating for tax reforms to improve competitiveness.”

“I think people want to come back to Canada because we're in a moment in Canada. We just need the conditions that reward people to want to come back and build something and take a risk on something.”
– CCI CEO Patrick Searle, speaking on BNN Bloomberg about how Canada’s startup ecosystem compares internationally.

DISPATCHES

British Columbia’s new government has an opportunity to use artificial intelligence (AI) to increase productivity, improve public services and help homegrown technology companies grow. The choices it makes will also shape how much of that economic value stays in the province.

Kiersten Enemark, CCI's Director of B.C. Affairs, argues for a provincial AI strategy that connects business adoption with the conditions Canadian suppliers need to scale: customers, computing resources, useful data and clear rules that protect privacy and public safety.

Read her full article: B.C. Needs an AI Strategy That Helps Homegrown Companies Grow.

Happy reading!