By Ritu Jha-
Indo-Canadians are proving to be dynamic entrepreneurs, with Canada continuing to support visionary immigrant innovators, said Upasana Sharma, a global advisory board member at Evolve Silicon Valley Foundation. Sharma spoke during the Evolve 2024 conference held Nov. 13-14 at the Santa Clara Convention Center, where she highlighted the importance of cross-border collaboration in enriching entrepreneurship ecosystems.
“I’m here to learn from U.S. entrepreneurs, venture capitalists, and trends to bring those insights back to Canada,” Sharma told indica. A recent addition to Evolve, a U.S.-based nonprofit, Sharma lauded its mission to make investor-founder connections seamless and data-driven.
Sharma, a trailblazing entrepreneur, is Vice President of TiE Toronto and Managing Director of the TiE Toronto Startup Visa program. She also co-manages Tangentia Ventures, a designated venture capital group under Canada’s Start-up Visa Program. With a legal background at Lerners LLP and recognition as a MacArthur Foundation Scholar, Sharma brings extensive expertise to supporting immigrant entrepreneurs in Canada.
“Canada is incredibly diverse, with people from 165 countries. This diversity fosters innovation, and we focus on immigrant entrepreneurs,” Sharma said. “As immigrants, we understand the unique challenges they face. We work closely with founders to help them identify their strengths and pivot when necessary.”
Challenges and Opportunities for Canadian Entrepreneurs
Sharma emphasized that while Canada is immigrant-friendly, challenges remain. “Access to capital is a significant issue. Compared to the U.S., our check sizes are smaller, and we tend to be conservative investors,” she said.
Sharma praised the entrepreneurial spirit and risk-taking culture of Silicon Valley. “The energy here is infectious, and the lessons we learn will help us foster similar ecosystems in Canada,” she added.
Sharma also highlighted Toronto’s prominence in artificial intelligence. “Toronto is one of the world’s leading AI hubs. This year, the Nobel Prize in AI went to a Toronto-based professor, and many U.S. companies hire AI talent from Toronto,” she noted.
Indo-Canadian Community’s Role
Sharma, who migrated to Canada in 2004, described the Indo-Canadian community as highly entrepreneurial and well-integrated into Canadian society. However, she acknowledged that Canada’s rapid intake of immigrants has posed challenges.
“If you bring in a large number of immigrants without adequate planning, assimilation takes time. This can lead to friction. We didn’t plan properly before inviting a million people in recent years,” Sharma said.
Canada-India Relations
On the impact of recent tensions between Canada and India, Sharma said business has not been adversely affected. “The Indian community in Canada is influential in business and politics, much like in the Bay Area. Both countries’ English-speaking populations have fostered strong ties,” she said.
The Evolve 2024 conference provided a platform for global entrepreneurs and investors to connect, with Sharma’s participation underscoring the importance of fostering cross-border innovation.