Canada Loses Over $400 Billion in Tech Talent to US
Canada's tech industry is sounding the alarm that the country is losing its top entrepreneurs to the U.S., an issue that has taken on new urgency due to tariff threats and Ottawa's efforts to diversify away from the U.S. economy.
A recent report shows that at least 517 U.S.-based tech firms have Canadian founders, or entrepreneurs who were educated in Canada but later left for the U.S., that have raised over US$400 billion together.
According to Lucy Hargreaves, co-founder of Build Canada, 'The numbers make it clear that Canada's founders and entrepreneurs are leaving in droves, and they are taking the future value they will generate with them.'
The data also show that the pace of innovators leaving Canada for the U.S. has more than doubled since 2023, from just over 20 founders per year to 93 people in 2024.