The CCI Newsletter: February 2025

This edition of The CCI Newsletter was originally shared with CCI’s subscriber community on February 3, 2025. 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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Dear Innovators,

The first weeks of 2025 have already reshaped Canada’s political and economic landscape. January saw resignations, inaugurations, and negotiations, and now a broader recalibration is underway. Politicians are rethinking long-standing orthodoxies and even walking back recent policy commitments—like the capital gains tax increase, which has now been deferred and promised to be scrapped by those vying to be the next prime minister.

And over the weekend, U.S. President Donald Trump confirmed 25% tariffs on Canadian goods and 10% tariffs on Canadian energy come into effect tomorrow, adding new urgency to the question of how Canada secures its economic future.

This moment demands more than reaction—it requires bold action and a commitment to long-term resilience. For too long, Canada has assumed that easy access to U.S. markets would guarantee our prosperity. That assumption is no longer valid. If we want to navigate this moment successfully, we must double down on Canada.

At the Council of Canadian Innovators (CCI), that means ensuring Canada’s most innovative firms have the tools to scale globally, modernizing procurement to favor homegrown solutions, and strengthening our domestic industrial base. It also means making smarter choices—both in policy and in practice.

That’s why we recently made a small but meaningful shift: we phased out Stripe and switched to Helcim, a Calgary-based payments company. Helcim isn’t just Canadian—it’s better: more cost-effective, more user-friendly, and aligned with our mission. Every dollar spent on a Canadian company strengthens our economy, keeps jobs here, and builds resilience against global volatility.

This isn’t just about one company—it’s about a mindset shift. Canadian innovators are too often overlooked in favour of foreign competitors, even when they offer world-class solutions. That has to change. If your company has made a deliberate choice to support Canadian businesses, I’d love to hear about it—drop me a note at benjamin@canadianinnovators.org.

The world is watching how Canada responds. The choices we make today will determine whether we emerge stronger or remain vulnerable. At CCI, we are committed to ensuring those choices set us up for long-term success. You can count on us to keep you updated, and if you're getting this email as a forward, sign up here to receive the next one.

Keep growing,

Benjamin

Benjamin Bergen is the President 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.

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INNOVATION UPDATES

Ontario Election: When Ontarians head to the polls on February 27, the province’s economic future will be on the line. Rising costs, declining productivity, and mounting global trade pressures—including the looming threat of U.S. tariffs—are making it harder for Ontario businesses to scale, compete, and succeed. To inform this crucial conversation, the Council of Canadian Innovators (CCI) is proud to release What Ontario Innovators Need to Scale, a policy platform designed to fortify Ontario’s economic security and long-term prosperity. Read it here.

The Canadian SHIELD Institute: In January, we announced the launch of The Canadian SHIELD Institute, focused on Securing Homegrown Innovation, Economic Leadership, and Defence. This new policy institute will act as a catalyst for bold ideas, fostering collaboration among expert public policy leaders, government, and industry pioneers to secure Canada’s long-term prosperity and resilience. With growing interest in public policy among Canadian business leaders, it’s crucial to channel that energy into action and collectively build a roadmap for a prosperity agenda. While we’re just getting started, you can read about our vision for our new sister organization at CanadianSHIELDInstitute.ca.

Energy Storage in B.C.: The BC Centre for Innovation and Clean Energy (CICE), in collaboration with BC Hydro, has launched a Call for Energy Storage Innovation, offering up to $3 million in non-dilutive funding. This initiative aims to accelerate the commercialization and scaling of energy storage technologies and grid solutions to support decarbonization and electrification efforts in B.C. Application deadline: February 28. More information here.

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SCALE-UPS TO WATCH

This January, we were thrilled to welcome a new member to the Council of Canadian Innovators:

• Propel Holdings, a Toronto-based fintech company led by CEO Clive Kinross, is reshaping the future of online lending with flexible and responsible credit solutions, expanding financial access for underserved consumers across North America.
  

This month, we launched our By Canadian Innovators series showcasing how homegrown tech companies power CCI’s advocacy and capacity-building initiatives. Our first feature highlights Helcim, and Founder & CEO Nic Beique, Calgary-based fintech that helps CCI operate more efficiently, so we can focus on supporting Canadian scale-ups.

In January, Plurilock CEO Ian L. Paterson, sat down with CCI President Benjamin Bergen for our 5 Questions series to discuss the evolving landscape of cybersecurity. Last week, Plurilock announced they had appointed Deputy National Security Advisor to the British Prime Minister, Elizabeth Sizeland, to its Industry Advisory Council, strengthening its expertise in cybersecurity and threat intelligence. Check out our 5 Questions profile of Ian and Plurilock here.

Carol Leaman, CEO of one of CCI's founding members, Axonify, was also featured in an interview about her company's recent progress in workforce enablement and training, and how it has a positive impact on employee learning and retention.

Here are a few other highlights from CCI members recently:

• VueReal secured $58.4-million CAD Series C to boost its semiconductor production
• Loop CEO Cato Pastoll told CBC News that retaliatory tariffs against U.S. aren't a long-term solution
  
• Punchcard Systems Managing Director Sam Jenkins talked to BNN Bloomberg about current trends within the Canadian technology sector.
• Levven is transforming the construction industry with wire-free smart switches
  
• Solace Power secured $10.3M investment from Boeing to advance its wireless power technology. The strategic investment is part of Boeing’s Industrial and Technological Benefits (ITB) commitment to Canada for its selection of Boeing’s P-8A Poseidon to fulfill its long-range multi-mission aircraft role.
  
• Ranovus is using lasers to replace copper wiring in AI hardware
  
• Xanadu moved closer to building a practical quantum computer
  
• Nova Scotia is expanding use of Novari Health’s tech with a $17 million agreement
  
• ApplyBoard expanded to its first non-Anglophone market
  
• Uvaro acquired coding school Lighthouse Labs

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DISPATCHES

What can Alberta’s oil patch teach us about Canada’s innovation policy? Despite its reputation, Alberta’s energy sector has long been a hub of technological advancement, from pioneering extraction methods to world-class carbon capture initiatives.

In our latest dispatch, CCI's Prairie Director Jess Sinclair explores how lessons from the energy industry can inform smarter innovation strategies across the country. Read her piece here.

Happy reading!