Hafsa Yazdani is the co-founder of nybl, a Riyadh-based AI firm now expanding into North America. Her passion for data and innovation is matched by her desire to see Canada step up. "We need bold leadership on innovation," Yazdani says. "The culture here is too risk-averse."

She points to tax policy as one area of reform:

"Capital gains taxes should be lower or bracketed to help small businesses reinvest."

Yazdani argues that Canada's tax policies often penalize growth. For instance, early-stage firms face burdensome compliance costs and have fewer deductions than larger incumbents.

She also highlights Canada's weak venture capital ecosystem: Canadian startups receive significantly less VC funding than their U.S. counterparts, with fewer than 1 in 10 startups scaling globally. According to BCG, Canada underperforms in intellectual property investment, trailing the U.S. by more than fivefold in sectors like ICT and software.

"Canada has the talent, but we make it hard for that talent to stay."

She believes that a stronger incubator network, along with clear policy support for tech, would send the right message. Additionally, Yazdani emphasizes the role of public messaging and leadership:

"The government should loudly champion innovation. Make it clear that this is a priority."

For Yazdani, it's not just about startups—it's about cultural change. "Innovation can't be an afterthought," she says. "It has to be in our DNA."