Seen & Heard at CCI's 2024 Innovation Governance Summit

Last week, CCI’s annual Innovation Governance Summit took place in Toronto and brought together a network of Canadian board members, technology and business leaders, investors, and Innovation Governance Program (iGP) alumni for a full-day event committed to professional development and governing high-growth companies.

Conversations on stage and on the sidelines of the summit, as well as during a series of expert-led tabletop sessions, all focused on the innovation economy’s most pressing issues in 2024, including how to deploy artificial intelligence successfully, how to navigate the turbulent economic environment, and how good governance can drive innovation commercialization in Canada.

This year’s summit was made possible by the support of Deloitte and CPA Ontario, and our boardroom simulations were led by sought after professionals from the Innovation Asset Collective, Deloitte, CLco, and Global Governance Advisors.

Throughout the day, CCI kept an ear open to interesting ideas shared and important points made.

Here are a few things we heard the 2024 Innovation Governance Summit.

"Effective board governance is crucial for the success of any organization, especially for fast-scaling technology companies in Canada navigating the global innovation economy."

— Fatima Laher, Deputy Chair and Member of the Board of Directors of Deloitte Canada and Chile, in her welcoming remarks to attendees of the Innovation Governance Summit. Deloitte was the presenting sponsor of the Innovation Governance Summit and hosted the event at their offices in downtown Toronto.

“We need to pull out all the stops to boost investment. We need to come together and support the entrepreneurs that will help make our economy more innovative, more dynamic, and ultimately more productive. That must include CPAs who can bring their unique skillset of risk assessment, strategic analysis, and value creation to support the Canadian innovation sector.”

— Carol Wilding, President and CEO of CPA Ontario. Carol also spoke to Canada’s productivity challenge and how supporting our innovation sector must be a priority if we are to reverse the trend. She spoke about the role of CPAs in supporting start-ups and scale-ups and how programs like CPA Ontario’s Innovation Leadership Accelerator empower CPAs with the knowledge, exposure, and experience they need to help drive the innovation the Canadian economy needs.

“Strategic foresight is essential, especially in our current moment, as companies navigate a rapidly changing economy and complex global events that can have huge impacts on their business. Now more than ever, Canada’s innovative startups and scaleups need strong board governance that spans oversight to advisory to achieve their full potential.”

— Neil Desai, chair and a board member of CCI member companies, ClearRisk and Solace Power. He also serves on the board of directors of the Alcohol and Gaming Commission of Ontario, Innovation Asset Collective and Public Policy Forum.

Neil moderated a panel about governing for today's economic reality, which featured insights from Prashant Pathat, CEO of Ekagrata Group, Lally Rementilla, Managing Partner, Intellectual Property-Backed Financing at BDC Capital and chair of Interaxon, and Allison Christilaw, Principal of Ozone Advisory Group and co-chair of the board of directors of the Innovation Factory in Hamilton.

“Technology companies are at the forefront of leveraging the power of artificial intelligence to transform their business. The speed of AI adoption is based on the speed of trust in AI. Key considerations for boards include balancing opportunities and risks of AI while ensuring that the investments in AI are directly tied to organizational strategy and enable organizations to achieve their intended objectives and outcomes.”

— Prashant Masand, Partner, Governance & Risk, Deloitte

For the second year in a row, Prashant convened AI governance experts for an in-depth look at the current AI landscape and how board members and business leaders can use AI to scale for growth. His panel included Raif Barbados, Partner, Mistral Venture Partners, Patricia Thaine, Co-Founder and CEO of Private AI, and Preeti Shivpuri, Partner, Trustworthy AI, at Deloitte.

After engaging with the summit’s keynote speakers and guest panelists, attendees participated in interactive sessions focused on developing the skills and knowledge needed to become better board governance experts.

Here’s what attendees had to say about the Innovation Governance Summit:

“CCI puts on really great events that are relevant. They’re politically in tune with what’s happening in the country and they’re really becoming the voice of the private sector. I learned a lot this morning at the Innovation Governance Summit.”

— Jennifer Mondoux, Mondoux Rollins Partners Inc.

“This is a fascinating group of people; there’s really no other place to get this kind of perspective. We need the kind of technical and governance expertise we have here, especially around areas like AI and quantum.”

— Ken Albright, RWDI

“This is my first Innovation Governance Summit, and I’m really enjoying the discussions. At business events, you don’t always get these kinds of transparent, substantive conversations about issues like governance, economic strategy, and AI. The energy at the summit is really positive, and there’s a great diversity of perspectives and backgrounds among the people here. “

— Geralyn Ochab, Augmentr Studio

Benjamin Bergen, President of the Council of Canadian Innovators (CCI), spoke on the importance of events that bring innovators together, and what board members can learn from the Innovation Governance Program (iGP).

“It’s been a joy to watch CCI’s Innovation Governance Program grow into a thriving community of professionals who are passionate about Canadian technology, and governance excellence. The Innovation Governance Summit is a unique opportunity for governance leaders and learners to come together and share knowledge about how to guide future growth.”

CCI’s 2024 Innovation Governance Summit was made possible by the amazing support of partners who are dedicated to advancing innovation and better governance within the Canadian tech ecosystem. Special thanks to our summit partners, Deloitte and CPA Ontario.

Applications are now open for the Fall 2024 session of CCI’s award-winning Innovation Governance Program, commencing in October.

iGP is a comprehensive certificate program designed to train both current and aspiring corporate directors for pivotal roles on the boards of Canada’s fastest-growing companies. During each 6-week level, participants from across Canada engage in live, interactive sessions led by top governance experts, participate in panel discussions and case studies, and connect offline with their accountability groups to delve into weekly themes. iGP graduates also join CCI’s Board Member Advisory Program, an exclusive service that helps companies find new directors for their boards.

For more information about iGP and other education programs, contact Gabriella Boulos, CCI’s Director of Programs and Events.