Canada's AI Advantage (The Derby Mill Series ep 20)

Does the Canadian AI community have a communications problem? Too often, AI investors feel they have to go outside of the country to find great targets for deals. Similarly, domestic AI companies find it difficult to attract dollars from Canadian sources of capital. Too few investors and companies actually talk to one another. And fewer still have the kind of trusted relationship required to get deals done.

So in this episode, Derby Mill host Ajay Agrawal, a co-founder and partner at Intrepid Growth Partners, gathers some of the key figures working to create the Canadian AI community, to discuss how to improve things. We’re excited to welcome Canada’s first Minister of Artificial Intelligence, Evan Solomon, in a discussion that also includes one of the driving forces behind Canadian growth equity, Mark Shulgan, also a co-founder and partner at Intrepid, as well as Adam Keating, the co-founder and CEO of CoLab, a software platform that uses AI to accelerate and improve engineering design processes, based in St. John’s, Newfoundland.

Their discussion highlights the special moment in which Canadian AI finds itself—as well as the challenges the country must overcome to achieve international success.

GUESTS AND HOSTS (extended bios below)Evan Solomon, Canada’s Minister of AI and Digital InnovationAdam Keating, CEO & co-founder, CoLabMark Shulgan, co-founder and partner, Intrepid Growth PartnersAjay Agrawal, co-founder and partner, Intrepid Growth Partners

LINKS Derby Mill series website. Derby Mill is created by the team at Intrepid Growth Partners.Be sure to catch every episode of The Derby Mill Series by subscribing on the following platforms: YouTube // Spotify // Apple Podcasts

DISCUSSION POINTS00:00 Cold open01:35 Context for episode02:19 What is CoLab?04:21 Role of AI06:21 AI beyond hotspots07:44 Canada’s AI potential17:09 AI in St. John’s24:22 CoLab’s innovation29:04 Canada’s greatest risk37:36 Final remarks

Evan Solomon is Canada’s first Minister of Artificial Intelligence and a Member of Parliament representing Toronto Centre. Before entering politics, he was one of Canada’s most recognized journalists for more than 25 years, known for his incisive interviews and deep coverage of national and global issues. He co-founded Shift, an award-winning international magazine exploring the rise of the digital age, and is the author of two best-selling books, Fueling the Future and Feeding the Future. Today, Evan leads Canada’s efforts to build a responsible and ambitious AI future — one that reflects Canadian values and strengthens the country’s digital sovereignty.

Mark Shulgan is the co-founder and Partner of Intrepid Growth Partners, a growth-stage investment fund. Previously, Mark founded and led OMERS Growth Equity, which he launched in 2018. During his time at OMERS, Mark invested $1 billion in private North American software and healthcare companies and served as the chairman of the investment committee. Prior to joining OMERS, Mark co-founded and then led the Thematic Investing team (now called Venture and Growth Equity) at CPP Investments.

Adam Keating is a mechanical engineer who co-founded CoLab out of sheer frustration when he saw how engineers were being held back by inadequate tools for working together. He led development of one of the world’s first Hyperloop vehicles (taking home 2nd place internationally at SpaceX’s 2017 competition), he’s invented an electric propulsion system for large-scale aircraft, designed systems for biology-guided radiotherapy, and managed elements of multi-billion dollar energy projects—just to name a few achievements!

NUGGETS

Evan Solomon on Canada’s AI Problem (2001)Many Canadian tech companies struggle to gain recognition and funding at home, says Canada’s Minister of AI and Digital Innovation, Evan Solomon.

Evan Solomon on Canada’s AI Potential (2002)Canada’s Minister of AI and Digital Innovation Evan Solomon says Canadian talent and innovation are the “lowest-hanging fruit” for global AI leadership.

Canada’s Greatest AI Risk (2003)Intrepid co-founder and Derby Mill Series host Ajay Agrawal asks Canadian AI Minister Evan Solomon about the biggest risks AI poses for the country.

DISCLAIMERThe content of this podcast is for informational and educational purposes only and should not be construed as marketing, solicitation, or an offer to buy or sell any securities or investments. The opinions expressed in this video are those of the participants and do not necessarily reflect the views of Intrepid Growth Partners or its affiliates. Any discussion of specific companies, technologies, or industries is for illustrative purposes and does not constitute investment advice. Viewers are encouraged to consult with their own financial, legal, and tax advisors before making any investment decisions.

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