Canadian Tech Luminaries Share Insights at Startupfest, Urging Country to Embrace Risk
Canadian tech luminaries recently gathered at Startupfest in Montréal to share their insights and encourage their country to embrace risk in the startup ecosystem. In a series of interviews recorded live at the event, prominent figures such as David Nault (Luge Capital), Sue Umapathy (RBCx), Shambhavi Mishra (Antler), Brittany Charlton (Ohh Foods), Nicolas Du Parc (Fonds FTQ), and The Crolls discussed the challenges and opportunities faced by Canadian startups.
The interviews covered various aspects of the thriving tech startup scene in Canada, offering valuable insights and highlighting the need for increased risk-taking in the industry. The speakers also emphasized the importance of Canadian venture capitalists (VCs) leading more investment rounds to support the growth of local startups.
One of the key takeaways from the discussions was the focus on due diligence in a potentially uncertain market. Sue Umapathy, representing RBCx, highlighted the need for a return to due diligence, particularly during challenging times. She stressed the importance of thorough research and analysis to make informed investment decisions.
David Nault from Luge Capital shed light on the significance of navigating the hype cycle of artificial intelligence (AI) in the investment landscape. He emphasized the need for careful evaluation and understanding of AI technologies and their practical applications to make sound investment decisions.
Shambhavi Mishra, representing Antler, addressed the issue of Canadian startups seeking capital from the United States. Mishra called on Canadian VCs to take the lead in funding rounds and support local startups, rather than relying on foreign investments. By encouraging Canadian VCs to play a more active role in the funding process, Mishra believes the Canadian startup ecosystem can become more self-sustaining and less reliant on external sources.
These interviews at Startupfest showcased the diverse perspectives of Canadian tech luminaries, offering valuable insights and highlighting areas of improvement within the startup ecosystem. The speakers underlined the need for increased risk-taking, more proactive due diligence, and a greater emphasis on local investments.
As the event wrapped up, it became evident that Canada has the potential to further bolster its tech startup scene and position itself as a global player. By embracing risk and fostering a supportive environment for startups, the country can attract more entrepreneurs, investors, and innovative ideas.
