Plus: How Dozr went from a construction boom to bankruptcy proceedings.
The reboot of the feds' relationship with Canadian tech has just reached “complicated” status.
The newly formed Liberal government is actively rebuilding the relationship fundamentally damaged by last year's increase in the capital gains tax rate. Mark Carney thought about this idea when he was still appointed prime minister; The feds have since scored a PR victory by committing to making the darling AI Cohere “Canadian Champion” And working with Shopify Reform the often-criticized R&D tax credit. The vibrations were (mostly) strong.
This week it turns out that old habits die hard: Finnish firm Nokia has begun construction on its revamped Ottawa campus, a $340 million project with $40 million in federal funding. Industry Minister Mélanie Joly called it a sign that “Canada is leading the global technology race.” Shopify CEO Tobi Lütke saw it differently, calling the funding a “bribe” and foreign direct investment projects “toxic” for technology.
The federal government's FDI commitment is a holdover from the previous Liberal government, which was very fond of such incentives. But newly minted AI Minister Evan Solomon defended it, telling BetaKit's Josh Scott that it “job multiplier“
Time will tell if jobs actually multiply, but for now they are being added at a huge premium. This is undoubtedly worrying for those who had hoped that the Liberals, along with their old leader, had abandoned the old ways.
This is not the only concern. Nokia's Ottawa campus will focus in part on research and development in artificial intelligence – technologies developed by, but not owned by, Canadians. According to Solomon, who recently called digital sovereignty “the most pressing political and democratic issue of our time,” this is an example of “what sovereign AI… looks like in practice.”
You can read Alex Riehl. excellent coverage for the response of the crowd of sovereignty supporters. I wonder if the federal government's relationship with Canadian technology can truly change if its innovation policies fail to do so.
Douglas Soltis
editor-in-chief
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How Dozr, an up-and-coming construction technology firm, went from construction boom to receivership and asset sale
After more than a decade of building and expanding the online heavy equipment rental marketplace, Dozr's assets were unceremoniously sold last month to help the beleaguered lender recoup some of its capital. Although it is now in new Canadian hands, its future remains unclear.
Shopify says recent layoffs have 'removed layers that created complexity'
Shopify has made more layoffs in a number of positions in recent weeks, following senior management shakeups and layoffs that were reportedly linked to internal sales fraud issues last summer.
Co-founder of Faire: the company has metrics for going public, but is in no hurry with an IPO
Marcelo Cortes says his online wholesale marketplaces business has the profile of a “very good public company,” but he won't say when it might make the leap.
Instead, Faire announced a stock sale to employees in a tender offer valuing it at $5.2 billion, a far cry from the $12.4 billion it was once valued at in 2021.
Amid Global DEI Backlash, Canadian Venture Capital Sees More Women and Visible Minorities in C-suite Positions
The Business Development Bank of Canada's 2025 DEI & ESG Industry Report surveyed dozens of companies in which BDC invests and found an increase in the number of women in senior positions at firms and a decline in climate change commitments.
Cryptocurrency advocates want blockchain technology added to Canadian AI minister's portfolio
Coinbase Canada CEO Lucas Matheson believes Evan Solomon's portfolio should include the technologies behind cryptocurrencies. AI and blockchain are linked not only by their potential to transform existing industries, but also by Canada's ability to assert its digital sovereignty, advocates like Matheson say.
Another fund partner leaves BDC
The shake-up at the Business Development Bank of Canada continues after Guillaume Mercier, a partner at BDC Capital's Industrial Innovation Fund, announced his departure.
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BetaKit Podcast – How OpenText Bet on Artificial Intelligence
“The technology is there and everyone loves cool technology, but it doesn't have to be a party gimmick. It has to be something that drives meaningful business results, so choose your challenges.”
OpenText Executive Vice President Shannon Bell explains how she systematically implemented artificial intelligence at one of Canada's largest tech companies. As OpenText embraces human and digital resource management, has it seen a return on its investment? Let's dive deeper. Recorded live on the BetaKit Keynote Stage at SAAS NORTH.
Take the BetaKit Test: Alberta's Artificial Intelligence Legislation, Toby's View of Nokia, and Ditching the Nvidia Name
Think you're up to date on Canadian technology and innovation news? Time to prove it. Test your knowledge of Canadian technology news with the BetaKit quiz on November 28, 2025.
Canada has just made the most significant changes to SR&ED in years.
Join us December 11 at 12:00 pm ET to discuss what exactly has changed and what it means for innovative businesses across Canada.
Invited speakers:
Daniel Perry – Council of Canadian Innovators (policy and industry perspective)
Carlos Coelho – Bragging (Practical Claim Strategies and Optimization)
Organized by BetaKit CEO Siri Agrell.
Event details:
📅 December 11, 2025
🕐 12:00 pm Eastern Time
⏱️ 60 minutes + live Q&A
💻Virtual (link provided upon registration)
You will learn:
✓ Details of what has been accomplished in the 2025 budget.
✓ Which activities and expenses currently qualify
✓ Documentation and approval of best practices
✓ Industry considerations regarding technology, manufacturing and clean technologies
✓ Strategic guidance for newly eligible public companies
Artistic image courtesy of Alex Riehl of BetaKit.
:quality(85):upscale()/2025/12/01/720/n/1922729/29500804692dbfc0629639.11875359_.jpg?w=150&resize=150,150&ssl=1 "Anthony Ramos Is Making Running a Community Conversation")
