How Trump Presidency and BREXIT Are Creating the Perfect Storm for Reversing Canada’s Brain Drain
Historically, Canada has faced a significant challenge in attracting top talent compared to the United States and retaining top talent already in Canada.
Until recently, top entrepreneurs would often choose to start their next big idea in the US, for several reasons, including:
- Better access to capital
- Better access to talent
- Lower income taxes
The results of the 2016 presidential election and BREXIT have changed this. For the first time, some of the top US, UK and international executives and entrepreneurs are considering relocation to Canada.
Canada offers the following first class resources:
- Friendly and easy business regulation
- Top notch basic science from world class universities
- Lower corporate income tax
- Significant government R&D incentives designed for start ups such as SRED, IRAP and Mitacs
- Provincial incentives for investors (Angels and Venture Capitals) to invest in early stage companies
and most importantly, a progressive open minded government that is in tune with the need for change in the 21st century.
This January 28, 2017 article from Globe & Mail quoted several global technology leaders including Google, Netflix and Uber CEO expressing concern about top talent leaving US.
At Novateur, we have been addressing the shortage of experienced pharma talent by matching the best global advisors to Canadian biotech and pharma Companies. Since the US election, several of our most sought after US based advisors have expressed genuine interest in relocating to Canada.
We are delighted to announce that as of April 1, Dr. Gina Stetsko, a world-class biotechnology expert in CMC Manufacturing and process scale up has relocated from San Diego to Vancouver and joined Novateur as a full time executive. Gina’s experience is unique as she has been involved the development, approval and launch of 12 drug products and devices and has set up GMP manufacturing facilities as small as 1,000 sq. ft. and as large as a 400,000 sq. ft. world class facility. She has a unique talent for successfully completing the most complicated and sophisticated formulation, drug delivery and manufacturing scale up projects.
We anticipate several of our other US advisors will be soon relocating and joining us in Canada.
At last Canadian Brain Drain is reversing, thanks to Trump and BREXIT!