Special Issue: Mark Carney’s First 100 Days – Canada’s Startup Reality Check

The “first 100 days” is where leaders show what they’re made of.
For Mark Carney, it’s been a crash course in trade wars, political reality, and whether Canada’s startup ecosystem gets more than lip service.

Here’s the no-BS breakdown of what those first 100 days actually mean for founders, investors, and builders.

The Wins You Can Bank On

• C$5B “Buy Canadian” Fund → Rolled out as a direct response to U.S. tariffs. It’s not just symbolism—Canadian SMEs and startups now have a clearer shot at government contracts. Think procurement as a growth channel.

• Capital Gains Tax Hike Cancelled → Ottawa blinked. Founders and angels keep more upside, which matters in an ecosystem where exits are already rare.

• Tax & Cost Relief → Bottom income bracket dropped 15% → 14%. Carbon price on consumers scrapped. First-time homebuyers get a GST rebate. Translation: slightly less pressure on your burn rate.

• Bill C-5: One Canadian Economy Act → Historic removal of interprovincial trade barriers. For startups scaling across provinces (hello fintech, healthtech, agtech), this could be the single biggest lever.

• Major Projects Office (Calgary) → Fast-tracks federal approvals for big builds. Cleantech and infra-tech startups now have a federal champion.

The Vibe Shift in the Ecosystem

• From “Go South” to “Stay Home” → Carney called the U.S.–Canada relationship “over.” Tariffs reinforced that message. Founders are waking up to a new reality: scale Canadian-first or risk dependency.

• Pride as Strategy → At Web Summit Vancouver and beyond, Canadian founders are openly talking about independence from Silicon Valley. A confidence play we haven’t seen in a while.

The Startup Gaps No One’s Ignoring

• Climate Backpedal → EV mandate gone. Carbon tax diluted. Climate-aligned financial regulation shelved. For green founders, it’s whiplash: Carney the climate champion vs. Carney the PM.

• Venture Crunch → Q1 2025 saw 116 VC deals—down 21% year-over-year and 38% vs. 2023. Funding windows are tighter even as Ottawa talks about innovation.

• Execution Fog → R&D credits, AI adoption incentives, SME grants, export support—announced, but still not delivered. Founders are asking: when do the dollars actually flow?

What It All Means

Carney’s first 100 days gave startups a story: Buy Canadian, scale Canadian, believe in Canadian.
But a story isn’t runway.

What matters next:

1. Follow-through on capital access (BDC, grants, tax credits).

2. Clarity on green-tech policy (support or sideline?).

3. Real founder-first programs (less red tape, more action).

Until then, the ecosystem has momentum—but not guarantees.

Stay Plugged In

We’re building the place for Canadian founders and builders to stay ahead of moves like this:

• Founded in Canada → our live directory + hub.

• Builders Club WhatsApp → swap wins, vent about the grind, share intel.

• CTRL+ALT+BUILD Hackathon → hack, break, build, repeat.

Carney’s 100 days gave startups some hope, some headaches, and a lot of questions.
Now it’s up to founders—and Ottawa—to decide if this is a turning point or just another headline.