Communitech applauds the government's initiative to incentivize pension funds to invest in Canada, which will help drive economic growth and create new opportunities for Canadian founders. The establishment of a working group to explore domestic investment opportunities, especially in digital infrastructure, artificial intelligence (AI), and venture capital, is a commendable step forward. We want Canada to keep the momentum going and take even more action on this file to ensure the success of founders and drive economic growth across Canada.

At Communitech, our advocacy for pension reform is deeply rooted in our vision for a sustainable and prosperous future for all Canadians. It’s also inspired by the success of the United Kingdom’s recent pension reforms. By committing to allocate five per cent of assets in default funds to unlisted equities by 2030, UK pension providers are paving the way for up to 50 billion pounds of investment in high-growth companies. A similar approach in Canada would help address a critical need when it comes to a startup’s growth: access to capital.  Continued Canadian investment and intellectual property (IP) is essential for the safeguarding of AI and other critical technologies.

For founders, securing Canadian funding can be one of the biggest challenges they face to build big in Canada. By tapping into pension funds, founders gain access to much-needed capital without having to face the many challenges that come with traditional financing routes. These investments provide founders with the resources they need to innovate and grow, and signal confidence in the tech ecosystem, which can help bring in further investment and attract more talent.

Public investment in Canadian technology has been a longstanding priority for Communitech and our founders. We are pleased to see the government’s commitment to consultation around procurement reform, specifically the commitment to legislated targets for federal investment in small and medium-sized businesses, including startups. We look forward to participating in this consultation.

At Communitech, we’re advocates for responsible tech, and we believe in aligning this investment with the principles of Good AI. That means not only driving technological advancements but also prioritizing ethics and ensuring that Canadian ownership of intellectual property remains at the forefront of our strategy. The $2.4 billion investment in AI provides a unique opportunity to elevate Canadian founders on the global stage and set a new standard for ethical AI innovation initiatives. We encourage the government to ensure that these investments and Canada’s past successes in AI are translated into commercial and global competitiveness for Canadian founders.

We want Canada to lead by example in creating a strong, innovation-driven economy that benefits every generation.

Chris Albinson, President and CEO of Communitech