Grace Lee Reynolds, CEO of MaRS Discovery District, shares insights on how large Canadian enterprises can bridge the innovation gap in a rapidly changing world. Reynolds, who returned to MaRS in early 2025, emphasizes that innovation is about solving problems rather than just generating ideas. She highlights the need for large organizations to move beyond pilot projects and fully integrate innovative solutions into their operations.
Reynolds points out that many large enterprises struggle to adopt innovation due to their focus on stability and current success. She cites examples like Ontario Power Generation and TD Bank, which have successfully partnered with startups to address specific challenges. These partnerships allow large companies to leverage external expertise while startups gain valuable customers and validation.
The interview also touches on the broader economic implications, noting that Canadian startups often face pressure to relocate when partnering with foreign organizations. Reynolds stresses the importance of fostering a resilient innovation ecosystem within Canada to ensure long-term economic health.
Looking ahead, Reynolds advocates for embedding innovation at scale within large enterprises to navigate the current dynamic environment effectively. This approach, she believes, can significantly enhance competitiveness in the global economy.