One reason that Canadian companies fail to become world-class is that we aren’t starting the right types of companies. The world’s leading research-intensive companies operate in four major markets: life sciences, automotive, hardware and electronics, and software. And almost all of the leading companies in these fields serve either consumers or a combination of consumers and businesses.
But Canada is not known for its ability to create and grow companies that serve consumers. If we want to create world-class companies we need to create them in world-class markets and these are predominantly consumer markets.