On Jan. 14, Evan Solomon, the Minister responsible for the Federal Economic Development Agency for Southern Ontario and Minister of Artificial Intelligence and Digital Innovation, visited UW for an event held at STC. With a room full of students, along with Dean of Science Chris Houser, Dean of Math Jochen Koenemann, Dean of Engineering Mary Wells, and Waterloo MP Bardish Chagger, Solomon spoke about AI and Canada’s innovation landscape and talent advantage. 

As a preface, Solomon informed the room to be authentic and honest, stating, “We want to hear from you.”

He then explained what brought him to the university. He recounted a conversation with a fellow passenger during a return flight from an AI conference in Montreal. The passenger was Lukas Wormald, a recent UW graduate.

During their conversation, Wormald shared that many students want to stay in Canada but feel there are more opportunities in the U.S. He later asked Solomon to visit UW to speak to other students with similar concerns, and Solomon agreed.

Solomon expressed that Canada provides a nourishing environment for education with outstanding teachers and he doesn’t want the students to leave. “There’s lots of reasons to leave, but there’s way more reasons to stay.”

When speaking about UW math, engineering, and science students, Solomon stated, “Every single person in this room [are] among now the most in-demand students in the world… The global market has already noticed you.” He also described a conversation he had with Bill Gates nearly two decades ago, in which Gates identified the best people to inspire to work for him were here in Waterloo. 

Solomon spoke of his previous work as an entrepreneur and encouraged students to build, iterate, and see risk and inexperience as an asset.

Solomon also revealed a new AI strategy that operates on an “AI for all” principle. It aims to serve all Canadians, whether it be urban, rural, Indigenous, etc. Further principles include building, protecting, and empowering. Execution includes a $3 million compute access fund, $1.7 billion investment to attract top global talent, and legislation regarding privacy data. As a bid to “bet on this experiment called Canada,” Solomon further stated, “The assets are all here, you can build here and trade with the world. It’s hard but when you build here, it works and it lasts.”

Further into the event, Wormald moderated a Q&A session with Solomon, which began by addressing the common belief that it’s easier to build a startup in the U.S. than it is in Canada. Solomon highlighted the lower marginal effective tax rate in Canada and the Scientific Research and Experimental Development (SR&ED) tax credit. One student questioned why this might be helpful at all, interrupting Solomon and abruptly leaving halfway through Solomon’s response, calling the event a disgrace.

Other students asked questions akin to why it would be better to stay in Canada when there are better opportunities in the U.S., especially if they don’t have the desire or expertise to start their own company. Solomon expressed an understanding of the desire to leave and that there are opportunities. He wants to build policies for companies so students would choose to stay and states, “There are opportunities, but it’s not terrible to know that Canada wants you.”

Chloe Nguyen, a second-year systems design engineering student, asked why she should stay when  it would be quicker to access venture capital funding in the U.S. While Solomon acknowledged that it may be difficult to make Canadian policies match the pace and risk tolerance of U.S. venture capital markets, he also noted, “Their appetite for risk is higher… when people give you money [quickly], they put a hand on a steering wheel… Access to capital might not be the only reason to relocate.”

When later asked whether she felt her question was fully addressed, Nguyen said a more detailed response was preferred but that it would have required a different event format. She acknowledged that Solomon tailored his answers to a broad audience, including students without startup experience. For Nguyen, funding challenges is a significant concern for those in the innovation ecosystem, like herself and her friends.  “I want a healthy ecosystem where my friends want to stay because of the genuine advantage they have here.” 

Wells closed the event by emphasizing the university’s commitment to creating opportunities for students who want to remain in Canada. She referenced the phrase “Cali or bust,” which gained popularity around 2008 as a marker of success, and said she hopes to replace it with a new mindset: “Team true north or bust.”