Canada has world-class talent, capital, and infrastructure—so why are we producing fewer entrepreneurs than we did 20 years ago? In this episode of Mission Critical, Lance sits down with Rachel Zimmer, co-founder and CEO of Simple Ventures, to unpack the paradox at the heart of Canada’s innovation economy. From declining entrepreneurship rates to the realities of “brain drain,” Zimmer offers a candid, systems-level look at what’s broken—and what it will take to fix it. Drawing from her experience as a founder, investor, and venture builder, Zimmer challenges the way we define innovation today, arguing that it’s not just about technology but about creating real value, jobs, and durable businesses. She also breaks down why the traditional venture capital model doesn’t work for most founders, and how Simple Ventures is rethinking company creation from the ground up. At its core, this episode asks a bigger question: What kind of country does Canada want to be—and who is willing to build it? Key Takeaways & Highlights Why Canada has 100,000 fewer entrepreneurs than 20 years ago (and what’s driving the decline).The real reasons behind brain drain.How Rachel Zimmer defines innovation, and why most people get it wrong.The difference between venture capital vs. venture building (and who each model actually serves).The importance of traction, real customers, and willingness to pay in validating ideas.How Simple Ventures is creating a “de-risked path” to entrepreneurship.The role of AI and global uncertainty in shaping Canada’s innovation future.Why Canada’s greatest opportunity might be its untapped white space, not its competition. About the Guest Rachel Zimmer is the co-founder and CEO of Simple Ventures, a Canadian venture builder focused on creating the next generation of standout companies. Through a model that combines ideation, validation, founder pairing, and capital, Simple Ventures builds businesses from the ground up—backed by leading investors including TD Innovation Partners, Sun Life, Sobeys, and top Canadian founder-operators. Prior to Simple Ventures, Rachel led Entrepreneur First in North America, a globally recognized venture studio backed by Reid Hoffman and the Collison brothers. She is also a former founder and investor, and has been recognized as an Emerging Entrepreneur by the Toronto Board of Trade. In just 18 months, Simple Ventures has launched multiple companies and created over 150 jobs across Canada—positioning Rachel as a leading voice in the future of Canadian innovation.
