Open this photo in gallery: Conservative Leader Pierre Poilievre and Canadian Prime Minister and Liberal Party chief Mark Carney shake hands following the English Federal Leaders Debate broadcast at CBC-Radio-Canada, in Montreal, Canada, on April 17, 2025.CHRISTOPHER KATSAROV/AFP/Getty Images Abdullah Snobar is executive director of Toronto Metropolitan University’s DMZ and chief executive officer of DMZ Ventures. Canada is set to elect a new government at a pivotal moment. In the face of a trade war with a United States, there’s a renewed sense of Canadian pride and with it, an opportunity to define the kind of economy we want to build. Carpe diem. This is our moment to act. The good news is that as global trade dynamics shift, Canada is positioned to lead. With world-class talent, natural resources, leadership in fields such as clean energy and AI, and a global reputation for trust, Canada has what it takes to compete and win. No matter who wins Monday’s election, we’re at an economic crossroads. To seize this moment, the next prime minister must embrace four bold ideas: launching a sovereign fund, protecting and commercializing our IP, modernizing our capital markets, and unlocking the full economic potential of our startups. Invest like a leader, not a follower Countries that think long-term are pulling ahead. It’s time Canada did the same. For example, Norway’s sovereign wealth fund, built from oil revenues and investing, has become one of the world’s most influential financial tools. We need to explore the creation of a Canadian sovereign wealth fund, not as a defensive savings account but as an investment vehicle. This would drive national growth, fuelling our innovation economy and injecting capital directly into startups that power new industries and high-value jobs. Backed by our resources, leadership in technology and trusted institutions, such a fund could transform local companies into international leaders and, crucially, bring that value and IP back to our domestic markets. Of course, building this would require co-ordination from across Canada, but the long-term upside outweighs the grind. It’s nation-building in the truest sense and sends a powerful message: that Canada isn’t looking to sit on the sidelines of global economic transformation. We’re here to shape the future on our own terms. When our IP leaves, so does opportunity Canada invests heavily in research, but struggles to turn those discoveries into commercial success. We’re doing the heavy lifting, but someone else is banking the gains. Too often, ideas developed in Canada are under-leveraged or end up in foreign hands because we haven’t built the infrastructure to protect and scale them here. If we want to lead, we can’t treat IP as a nice-to-have. We need to align incentives across universities, government and industry to make commercialization a priority and ensure that what’s made in Canada can grow in Canada. Designing capital markets for the economy of tomorrow With U.S. capital markets volatile, Canada has a chance to position the Toronto Stock Exchange as a global destination for stable, long-term growth. The TSX has shown strength in sectors such as energy, finance and tech, but its relevance is being tested. IPO activity has slowed recently and more Canadian companies are listing abroad, drawn by capital and higher valuations. Countries such as Singapore are already taking steps to attract high-growth companies through tax incentives and dedicated indexes tailored to innovation. Canada should follow suit. While our exchanges support innovation, we’re lacking fiscal incentives and specialized platforms that signal to global founders and investors that this is where companies thrive. Startups are the strategy, not an afterthought If we want to future-proof Canada’s economy, we need to start where innovation begins: founders. We need to create IPO and listing incentives that encourage companies to grow here, not exit prematurely or head to U.S. markets. Government must also foster competition and remove outdated regulations that hold Canadian entrepreneurs back. We must encourage a risk-tolerant investment culture that doesn’t shy away from early bets on ambitious companies. That doesn’t mean abandoning our strength in stability. Canada’s approach to capital has helped build global trust, but now we need to balance that with embracing smart risk as a driver of growth. For many startups, selling to the government remains an uphill battle. The process is complex, and most early-stage companies don’t have the resources to navigate it. Procurement programs exist but are often underused, leaving too many promising companies on the sidelines. Reform must go beyond new policies. We need to modernize the system so emerging players can access public contracts without being boxed out by red tape. Startups aren’t a sidebar to economic strategy – they are the strategy. They generate jobs, fuel exports and drive the kind of productivity growth Canada urgently needs. This is a moment to act, not wait. Canada is ready: Let’s build with clarity and invest with purpose.