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Recent data around the flood of tech talent moving to the U.S. has revived long-held concerns about Canadian 'brain drain' Published Aug 21, 2026 Last updated 5 hours ago 4 minute read Article content Canada's tech industry is warning that the country continues to lose its best and brightest entrepreneurs to the U.S., an issue that has taken on new urgency as tariff threats have prompted Ottawa to try to diversify away from the U.S. economy. THIS CONTENT IS RESERVED FOR SUBSCRIBERS Enjoy the latest local, national and international news. SUBSCRIBE FOR MORE ARTICLES Enjoy the latest local, national and international news. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. or Article content This week, various tech entrepreneurs, politicians and economists began to weigh in on data that show just how big the problem has become. According to recent figures, there are at least 517 U.S.-based tech firms with Canadian founders — or, entrepreneurs who were educated in Canada but later left for the U.S. — that have together raised more than US$400 billion. Article content Article content
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Article content "The numbers make it clear that Canada's founders and entrepreneurs are leaving in droves — and they are taking the future value they will generate with them," said Lucy Hargreaves, co-founder of the business advocacy group Build Canada, who issued a call to action in the form of a LinkedIn essay that triggered an online conversation about the trend. Article content Article content The data also show the pace of innovators leaving Canada for the U.S. has more than doubled since 2023, as U.S. tech giants have gone on a hiring spree to feed their AI ambitions. Before then, just over 20 founders had left for the U.S. per year, according to the data. In 2023, that figure leapt to 60 people, and to 93 people in 2024. Article content Of those founders, 88 per cent were educated at Canadian universities, including the University of Waterloo, University of Toronto and McGill University. Among the most prominent Canadian entrepreneurs to decamp to the U.S. are OpenAI co-founder Ilya Sutskever, who attended University of Toronto, and Uber founder Garrett Camp, who grew up in Calgary. Others include SpaceX's Elon Musk, who still retains Canadian citizenship, Anthropic's Chris Olah and eBay's Jeff Skoll. Article content Canada has for decades struggled to stop its most innovative people and ideas from moving to the U.S., where entrepreneurs can take advantage of the country's much larger capital investment pool and generally more pro-business policies. In a May 2026 blog post, Waterloo, Ont.-based tech investor Jesse Rodgers — drawing from the Dominion List, a database of U.S.-based companies with founders who were born or educated in Canada — crunched the latest numbers showing how many founders had left for U.S. cities. Article content The figures in that post began to resurface this week, as numerous Canadian voices began to weigh in on social media. Conservative Leader Pierre Poilievre sought to place the blame for Canada's loss of talent to the U.S. on Prime Minister Mark Carney, saying he is "driving entrepreneurs out of Canada with taxes, red tape, and inflation" while simultaneously giving "handouts, bailouts, and carveouts to the club of corporate insiders." Article content
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Article content On LinkedIn and X, Hargreaves called the issue a "five alarm fire," saying it threatens to undermine Canada's future economic growth at a time when the country is grappling with a systemic productivity crisis. Article content "Not only is it a 'today' problem," she said in an interview, "but this is a leak in one of our most valuable resources, and the compounding effects over time, I think, can be incredibly devastating for the Canadian economy." Article content That's become all the more relevant in the wake of U.S. President Donald Trump's trade war with Canada, which has seen Carney seek to pivot toward new markets in Asia and Europe. Article content "We talk a lot about positioning, we talk a lot about sovereignty, about making ourselves stronger internally," Hargreaves said. "If the U.S. is raising walls and raising tariffs and doing more and more to put America first, I think the smartest response for Canada is to make Canada the obvious place for the next 517 founders to stay and build here." Article content Observers are aligned on their belief that Canada is losing strategic talent and ideas to the U.S., but are in less agreement over the reasons why.Sign In or Create an Account
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