I agree with everything you said. Especially your point about the blindness to it all. People spin these narratives like "Silicon Valley North" and "Hollywood North" when reality it's all branch offices.
There is a lack of investment capital available to companies based in Canada. Programs like IRAP and SR&ED don't help in any meaningful way.
Canada is a great country, but we've been underperforming for a while now and we should be a lot more concerned about that.
I think IRAP and SRED are okay, they just led to government picking winners (IRAP) and an awful ecosystem of vendors and abuse (SRED).
I’m of the opinion that Canada should take that money and do what Israel did with Yozma. Match the creation of VC funds with government capital and generous exit terms (e.g. government matches with 50% capital, is totally silent partner and can be bought out at any time with a 30% premium). I bet big VCs would jump at the opportunity and everyone would win (Israel actually saw a return in the end).
There is a lack of investment capital available to companies based in Canada. Programs like IRAP and SR&ED don't help in any meaningful way.
Canada is a great country, but we've been underperforming for a while now and we should be a lot more concerned about that.