Canada’s top startup ecosystems are hemorrhaging value and growth due to structural funding gaps

Mark Lowey
February 25, 2026

Canada’s top startup ecosystems have lost $66 billion in value since 2019, due to structural funding gaps at the earliest stages of the startup pipeline that hobble companies' growth and subsequent investment, according to a new report by Startup Genome and the National Angel Capital Organization (NACO). Canada needs to build an "end-to-end" capital pipeline to fuel the next wave of economic growth, says NACO CEO Claudio Rojas.

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