WC133 NovDec 2023 - Magazine - Page 16
Chicago sets the stage for a deep dive into Canada’s burgeoning water tech
industry at WEFTEC 2023.
counterparts. “It’s a bit more cutthroat in the U.S. where we’ve
seen examples of early-stage companies get into utilities and then
they literally have to close the doors,” he said. Initiatives like
Sustainable Development Technology Canada and the Industrial
Research Assistance Program (IRAP), Canadian companies are
“better capitalized to actually see out that path,” making them
reliable and long-term partners.
Sohrabi added another layer to the discussion by pointing out
the level of commitment and quality one can expect when collaborating with Canadian companies. “Canadian companies that
are able to go through those challenges are going to be able to
bring solutions that are really competitive to foreign markets,” he
stated. He noted that for growing Canadian companies, the first
few installations are akin to a technological coming-of-age. “If
you had the chance to work on one of these projects, know that
their motivation would definitely be at the right place,” he said,
hinting at the meticulous attention to detail one can expect.
Walker took a practical stance, emphasizing the benefit of
stretching a U.S. dollar in Canada—a definite win for American
investors. “Having free trade in North America definitely is a big
help. And let’s be honest, at the end of the day, your dollar goes
a lot further in Canada. So, buying Canadian helps you out by
about 30 per cent,” he joked.
However, challenges do exist. Li acknowledged the richness
of federal and provincial support but expressed a desire for more
specialized private equity in the water sector. “It’s not only about
money, it’s also about the experience,” he said. Li called for industry veterans to be part of the investment landscape, emphasizing that sector-specific expertise could be “a lot more valuable
than just the money in our company bank account.”
These diverse perspectives underscore the multifaceted advantages of engaging with Canadian companies in the water sec-
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WATER C AN ADA • NOV EMBER/ DECEMBER 2023
Scaling Canadian innovation
In navigating the complexities of the Canadian market—vast,
fragmented, and often financially conservative—panelists found
that simplicity, efficiency, and a well-defined customer base are
key to scaling their businesses. Sohrabi emphasized the value of
simplicity, particularly when targeting smaller municipalities.
“Being able to listen to their needs and provide solutions that
are simple for them is key for us to continue to grow,” he said,
mentioning that this approach is especially important given
that many innovations in the sector are becoming increasingly
complex.
Kiely stressed the importance of scalability through efficiency, and that companies should pinpoint a particular problem
to solve for a particular customer. “If you start solving multiple
different problems for multiple different people, that is not a
scalable business,” Kiely argued. He indicated that identifying
and sticking to one issue is what drives a scalable model, differentiating the approach from more consultative services.
Taking the discussion global, Walker suggested that going
international early on allowed his company to grow rapidly. “Our
first sale was outside of Canada, so Canada was actually one of
the last markets that we went into,” he explained. By initially
targeting larger markets like Norway and the U.S., his company
could scale at a faster rate, ultimately returning to the Canadian
market with a proven track record.
Li added that the inherent financial conservatism of Canadian utilities poses an additional challenge, particularly when it
comes to adopting new technologies. “That’s something that we
have seen, at least for our product, that attracts people because
they know that I can show up at their door tomorrow with my
product and tell them start using it. And if you don’t like it, I
can take it back with myself like two hours from now,” Li stated
emphasizing the need for solutions that are both efficient and
easy to adopt.
Together, these insights suggest that in a market as complex
and diverse as Canada’s, focusing on specific problems and customer bases, while remaining nimble and efficient, provides the
best pathway for scale and commercial viability.
The insights shared by Kiely, Li, Walker, and Sohrabi are a
testament to Canada’s position as a hotbed for water innovation.
While Canada’s landscape is ripe with opportunities, it’s evident
that collaboration, adaptability, and a deep understanding of
local and global markets are critical for success. As the water
industry evolves, these voices remind us of the importance of
staying ahead of the curve, leveraging resources effectively, and
ensuring that every drop counts.
WAT E R C A N A D A . N E T
Jen Smith
tor—from financial stability and deep commitment to economic
benefits. Yet, they also highlight areas where there is room for
improvement, rounding off a comprehensive look at the fertile
ground for collaboration across borders.
