Canada has a deep bench of AI and scientific talent, yet it captures only a fraction of the venture creation and long-term value that can flow from that advantage.
MONTREAL, CANADA – January 19, 2026 – Mila - Quebec Artificial Intelligence Institute and Bain & Company, a leading global management consulting firm, have co-written The Rise of the Canadian Venture Scientist, arguing Canada is in a decisive window to become a destination where the world’s best minds choose not only to research AI, but to build the next generation of AI native companies in Canada.
The Rise of the Canadian Venture Scientist: Highlights
- Canada captures only a fraction of the value created by its AI breakthroughs, despite hosting about 10% of the world’s top AI researchers.
- In 2024, two thirds of high potential Canadian led startups that raised more than $1 million were headquartered outside Canada.
- That same year, Canada deployed $2B in VC toward AI startups, less than 2% of global AI VC investment.
- Canada’s venture ecosystem has an estimated $11.5B in available dry powder, and AI represents about 30% of Canadian VC investment.
- The “Venture Scientist” is defined as a frontier technical or scientific founder who translates research breakthroughs into venture scale companies, typically paired with execution and go to market leadership.
- The call to action is system wide, spanning researchers, investors, corporations, policymakers, and academic institutions, with a focus on faster, coordinated pathways from research to venture creation.
- Matching venture creation to Canada’s 10% share of global AI talent would require a fivefold increase in AI VC investment, from about $2B to about $10B annually, moving from 2% to 10% of global AI VC.
“Canada has proven it can lead in AI science. Now it needs the on-ramps that help researchers turn breakthroughs into companies that start and scale here, so we are not just a farm team but a place where enduring companies get built, before the window closes,” said Stéphane Marceau, Managing Director, Mila Ventures. “That means faster paths to founding, strong operator partners, and early access to capital, compute, and real-world testing. If we get it right, we keep talent and value in Canada.”
"Canada has a unique window of opportunity now to become a global pole to build the next generation of AI companies leveraging its unique deep tech research edge and heritage. This will require a focus on execution and an all-around mobilisation to support its venture scientists." said Luca Diomede, a Montreal-based Partner at Bain & Company.
The bottom line is blunt: Canada doesn’t need more proof of its assets. It needs conviction and execution now to turn research leadership into companies, capital, and sustained national advantage, because the AI defining moment is already unfolding.
For interview requests with Stéphane Marceau or Luca Diomede, please contact:
Christian Ahuet
Consultant, Public relations
Mila - Quebec Artificial Intelligence Institute
E. christian.ahuet@mila.quebec
M. 514-994-7496
Michael Simon
Senior Manager, Communications
Bain & Company
E. michael@simon@bain.com
About Mila – Quebec Artificial Intelligence Institute
Founded by Professor Yoshua Bengio, Mila – Quebec Artificial Intelligence Institute is the world’s largest academic AI research center specialized in deep learning, home to a community over 1500 strong. Based in Montreal, Mila was created out of a unique partnership between Université de Montréal and McGill University, dedicated to advancing scientific breakthroughs that drive innovation and ensure AI benefits everyone. A non-profit organization, Mila is strongly supported by the Government of Canada through the Pan-Canadian AI Strategy and by the Government of Quebec. Internationally recognized for its influential research, global innovation partnerships, and leadership in multilateral efforts on responsible AI, Mila continues to shape the future of AI worldwide. For more information, visit mila.quebec.
About Bain & Company
Bain & Company is a global consultancy that helps the world’s most ambitious change makers define the future.
Across 67 cities in 40 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today’s urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a platinum rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 1% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry.
Sources
Innovation, Science and Economic Development Canada, “Consultations on Artificial Intelligence (AI) Compute,” Government of Canada, last modified December 5, 2024, https://ised-isde.canada.ca/site/ised/en/public-consultations/consultations-artificial-intelligence-ai-compute.
Sean Silcoff and Joe Castaldo, “Tech Founders Leaving Canada at Accelerating Rate, Survey Finds,” The Globe and Mail, September 22, 2025, https://www.theglobeandmail.com/business/article-tech-founders-leaving-canada-at-accelerating-rate-survey-finds/.
“Canada’s Venture Capital Landscape,” Business Development Bank of Canada, May 2025, https://www.bdc.ca/globalassets/digizuite/57464-canadas-venture-capital-landscape-2025.pdf.
“Canada’s Venture Capital Landscape,” Business Development Bank of Canada, May 2025, https://www.bdc.ca/globalassets/digizuite/57464-canadas-venture-capital-landscape-2025.pdf; Dealroom.co., “Opening Moves in Global AI,” presentation, AI Action Summit, Paris, France, February 2025, https://dealroom.co/uploaded/2025/02/AI-Summit-2025.pdf?x63517=.
Canada’s Venture Capital Landscape,” Business Development Bank of Canada, May 2025, https://www.bdc.ca/globalassets/digizuite/57464-canadas-venture-capital-landscape-2025.pdf.
