Canada is home to 10 per cent of the world’s top AI researchers but accounts for less than two per cent of global AI VC investment, according to a joint report from Montreal-based AI institute Mila and Boston, Mass-based consulting firm Bain & Company. The country is losing out on the economic benefits of its research talent, with two-thirds of high-potential Canadian-led startups headquartered beyond its borders. (The Logic)

Talking point: Mila Ventures managing director Stéphane Marceau, the report’s co-author, said the institute is “seriously exploring” the launch of a venture capital fund to better commercialize its research. “Our proposition is that the biggest lever is to convert this magic into Canadian-born ventures,” said Marceau, whom Mila hired in July 2025. Element AI, Mila’s first foray into AI commercialization co-founded by Yoshua Bengio in 2016, raised $340 million before being sold to California-based ServiceNow in 2020.