Exploring Methods of Expanding the Canadian Technology Startup Ecosystem Through the Influence of Asian Markets

Hyper-Successful tech startups have been created by Canadians, however, many of them are headquartered in the United States and do not contribute to the Canadian job market. The creation of valuable Canadian startups is necessary to provide jobs for our fast-growing population. We want to keep our talent in Canada to grow our economy. To tackle this issue, we must introduce Asian markets to entrepreneurs giving them the freedom to operate and prosper in Canada.

Relative to the United States, Canada has 40% fewer founders per capita who have created ‘unicorn’ startups (valued at over $1 billion) (1). Additionally, and despite 16% of Canada’s population having Asian roots (2) compared to a mere 6% in the United States, the amount of trade with the Asian markets relative to national GDP is roughly 18% higher in the United States compared to Canada. These statistics tell us two things: 1. Canada has the potential to increase its number of hyper-successful startups, and 2. Canada should take advantage of its strong multinationalism to increase trade opportunities in the Asian markets.

The intern in this project will explore methods of introducing Asian market players to Canadian startups to expand their reachable markets beyond the borders while keeping the company in Canada.

Sources:
(1) Strebulaev, Ilya. (01/2022). Venture Capital Initiative. Stanford Graduate School of Business
(2) Asian Heritage Month…by the numbers. Statistics Canada. (05, 2021)
(3) Budiman, Abby; G. Ruiz, Niel. Key Facts about Asian Americans, a Diverse and Growing Population. Pew Research Center. (04,2021)

Faculty Supervisor:

Bhushan Gopaluni

Student:

Partner:

Cansbridge Fellowship

Discipline:

Engineering

Sector:

Public Service, Policy, and Governance; Information and Communications Technology; Technology

University:

The University of British Columbia

Program: