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Cohere

Cohere’s Aidan Gomez says acquisition is “failure”

Advanced AI EditorBy Advanced AI EditorJuly 4, 2025No Comments7 Mins Read
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Plus: Everything you need to know about Toronto Tech Week and BetaKit Most Ambitious.

What a week!

Team BetaKit celebrated the first full week of summer with a rare Triple Crown: official media partner of Toronto Tech Week, host of our own event, and publisher of our first-ever print issue, BetaKit Most Ambitious.

Make sure to read Alex Kinsella’s excellent recap of our BetaKit Town Hall and then the rest of our extensive Toronto Tech Week coverage below. I am subletting my normal slot in this newsletter to select Most Ambitious stories we published digitally throughout the week. Email file size limitations (that’s actually a thing!) leave me without the kilobytes to say anything else.

Except this: more than any other, this week proved that Canadian tech is filled with stories of bold ambition. Read as many of them as you can. Know there are so many more. Remember that BetaKit is on the case to tell them all.

Douglas Soltys
Editor-in-chief

You’re investing in AI. But are you protecting it?

The average Canadian organization spent more than $300,000 USD recovering from a single cyberattack last year. As attackers evolve, AI has become their most powerful weapon — and your most vulnerable asset.

Cisco’s Cybersecurity Readiness Assessment tool gives you a clear view of your organization’s overall security maturity – not just against AI threats, but across your entire defense strategy. In minutes, identify gaps, benchmark your readiness, and get actionable steps to strengthen your cybersecurity posture.

Find out today how your organization fares.

BetaKit Most Ambitious selects

Savour some of the bold flavour from BetaKit’s first-ever print issue.

Rahul Goel wants to give Canada its Apollo moment

Markham-based NordSpace is prepping for Canada’s sovereign space future.

Boris Wertz thinks science is the new moat for Canadian tech

The Version One Ventures investor explains why he bets big on AI, robotics, and Web3.

Phil De Luna thinks Canada is the perfect place to store the world’s carbon

Deep Sky’s chief scientific and commercial officer on the rising stakes for carbon-capture technology.

Building Canada requires competition

Vass Bednar offers an ode to the ventures challenging our nation’s comfort zones.

This time, Eric Migicovsky won’t let anything get in his way

A decade after the death of Pebble, the company’s founder is still chasing his dream smartwatch.

Socratica’s IRL revolution is powered by the love of making

Georgia Berg on how the student-run organization makes space for messy.

What I Learned: Larry Smith

The legendary University of Waterloo professor shares wisdom gained from a half-century of studying entrepreneurship.

Everything you need to know about Toronto Tech Week

As the official media partner of Toronto Tech Week, the BetaKit team captured conversations, announcements, and insights from across the city. We also played pickleball. Here’s what you need to know.

The conversations:

Harley Finkelstein, Mike Katchen, and Aidan Gomez reject the pull away from building in Canada

Tech leaders told the next generation to learn to say “no” to acquisition offers and leaving Canada at flagship Homecoming event.

Waabi’s Raquel Urtasun calls for Canada to “wake up” to the physical AI revolution

The autonomous trucking startup CEO said that the country needs more regulatory frameworks: “Canada, wake up.”

“I don’t want the tree rings to show”: Shopify CEO Tobi Lütke says his company is embracing AI to prevent stagnation

Lütke and Social Capital chief Chamath Palihapitiya shared their excitement—and reservations—about building with AI.

Geoffrey Hinton says AI companies resistant to “regulations with teeth” in lively debate with Cohere co-founder Nick Frosst

The Nobel laureate and his former protégé headlined a public debate on AI at the University of Toronto.

“The end of the era of human data”: AI experts discuss new frontiers at CDL Super Session

Turing Award winner Richard Sutton, CIFAR AI chair Patrick Pilarski, and Sanctuary AI co-founder Suzanne Gildert shared their visions for the future—and how we might get there.

The announcements:

“Light, tight, right” regulation: Minister Evan Solomon unpacks how Canada plans to support domestic AI and quantum computing

On the day Minister Solomon announced applications were open for the AI Compute Access Fund, he shared how the government plans to regulate and support the AI and quantum sectors.

Build Canada appoints Lucy Hargreaves to CEO as tech think tank expands mandate

Policy platform unveiled plans to open-source its projects and fund Canadian initiatives at Homecoming.

The activities:

Meeting people is easy at Toronto Tech Week

What do cold plunging and pickleball have to do with Toronto Tech Week? We sent our Chief Fun Correspondent to find out.

The insights:

Techstars founder Brad Feld says you should give more without knowing what you’ll get back

Feld shared how a personal philosophy begets richer mentorship at an intimate TechTO event.

What making music taught David Usher about running an AI startup

Four-time Juno winner and Moist frontman taps into digital immortality with his startup Reimagine AI.

9Bio Therapeutics’ Philipe Gobeil wants to “resurrect” clinically validated cancer therapies that failed due to toxicity

Québec biotech startup is developing a platform for designing drugs that target tumours and spare healthy tissues.

Bridgit’s Mallorie Brodie explains why Canadian startups need to think globally from the start

Co-founder and CEO Mallorie Brodie unpacks Bridgit’s pivot, mitigating risk in construction tech, and looking up to firms like Axonify, Knix, and Jane.

Canadian FinTech community mourns Equitable Bank CEO Andrew Moor

Members of the Canadian FinTech industry are sharing their grief following the unexpected death of Equitable Bank CEO Andrew Moor last weekend at the age of 65.

Equitable board chair Vincenza Sera said in a statement that the death was a “tragic loss,” and that Moor campaigned for “change and innovation” in Canadian banking. Wealthsimple co-founder Michael Katchen said in a LinkedIn post that he was “heartbroken” by Moor’s passing, calling the executive one of the “original champions” of Canada’s FinTech space.

FEATURED STORIES FROM OUR PARTNERS

🇨🇦 Weekly Canadian Deals, Dollars & More

SF – Canadian Sonder co-founder Francis Davidson departs as CEO

VAN – Klue lays off 40 percent of staff to become “AI-first” 

EDM – NiaHealth secures $5.75M to bolster healthcare platform

WPG – Conquest raises $110M Series B to fuel US expansion

QC – LeddarTech bankruptcy filing reveals $146M in debts

The BetaKit Podcast – Telling the stories of Canadian tech’s Most Ambitious

“I want to put ambition in people’s hands. You say it doesn’t exist—you’re going to hold it, you’re going to flip through it, you’re going to see it.”

BetaKit CEO Siri Agrell joins to discuss today’s launch of BetaKit’s Most Ambitious: our first-ever print issue, telling stories of bold ambition in Canadian tech.

This episode comes packed with highlights of some of our favourite stories from the inaugural issue, alongside a behind-the-scenes peek at how it was made.

Congratulations to Kate Grant from Fasken for winning The BetaKit Quiz: Live! at the BetaKit Town Hall this week. Check back next week for a new edition!

The EmpowHER Tech Launchpad, a 12-week program led by IDEA Mississauga in partnership with YSpace. Designed to support women-led product and tech businesses, particularly those led by newcomers to Canada. 

This program offers:

Access up to $200,000 in resources for product, marketing, sales, and more 

Sharpen your sales playbook, pitch and fundraising with expert coaching 

Build vital skills through workshops on go-to-market strategies and financial modeling 

Receive personalized 1:1 mentorship from experienced entrepreneurs

Join a driven community of peer-led women founders committed to growth and success 

Ready to scale your venture? Apply until July 11 to join the new cohort of women leaders shaping tech starting in September!

Feature image courtesy Toronto Tech Week.



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