JOIN A SCALEUP
MOVEMENT

Canada has a scaleup gap. While half of all startups endure beyond eight years, only a mere 0.1% of small firms advance to the status of mid-sized enterprises, and 2% of mid-sized firms attain the status of large corporations. While Canada boasts the highest Total early-stage Entrepreneurial Activity (TEA) among advanced economies globally, we fall short in terms of the number of firms that successfully navigate the ‘second valley of death’ to achieve growth and scale.

The reality? Growth is not a continuous or sustainable phenomenon, but is punctuated by episodes. The majority of companies are ‘one-hit wonders,’ with only 10-15% managing to achieve a second significant growth episode. This situation raises concerns, particularly considering that in Canada, a staggering 99.8% of companies fall under the category of Small to Medium-sized Enterprises (SMEs). These SMEs make a significant contribution, accounting for over half of Canada's GDP and generating more than two-thirds of all new jobs over the past two decades. While the importance of SMEs in the economy cannot be overstated, it is crucial to delve deeper into the reasons that lead startups to survive, scale up and grow.

ScaleUp Week coincides with the United Nations Micro-, Small and Medium-sized Enterprises (MSME) Day, encouraging support and empowerment for MSMEs worldwide. Proceeds generated by the event are invested in building the evidence base on company growth and scaling, helping to advance our collective understanding on what it takes to scale from Western Canada.