At this year’s National Angel Capital Organization (NACO) Summit, a standout panel cut to the heart of what early-stage innovation truly requires: not just big ideas, but the infrastructure to de-risk them. In the session, “De-Risking Early Stage Innovation: The Role of Incubators, Accelerators, and Gap Funds”, ecosystem leaders from across Canada explored what it takes to help founders navigate uncertainty and build scalable companies.
Moderated by Carollynn Schafer of Accelerate Okanagan, the panel featured:
Joelle Foster (President & CEO, North Forge)
Joel Semeniuk (Communitech / North Forge)
One of the panel’s key takeaways: incubators don’t eliminate risk — they redistribute it. As Joelle put it, helping new startups take risks isn’t about wrapping founders in bubble wrap. It’s about providing clear data, good mentors, and just enough early funding to test ideas quickly, learn efficiently, and grow with resilience. One founder’s misstep becomes a lesson the entire community can learn from.
“If venture capital is the engine that drives growth,” she said, “incubators are the solid frame that keeps everything together.”
Panellists also shared insights into the growing complexity of today’s startup environment — from AI and automation to increased pressure around compliance, sustainability, and geopolitical shifts. Joelle Foster shared how these pressures are evident in Manitoba, where founders often wait longer for funding and face added logistical hurdles. But in return, those same founders build global-thinking businesses from day one, supported by a tight-knit ecosystem of incubators, universities, and community partners.
“Startups in the Prairies deal with real barriers — but they also build with resilience,” Joelle noted. “That’s the foundation of inclusive growth.”
The panel reinforced the call for stronger procurement pipelines, urging organizations to start buying what Canadian startups are building, not just funding it. As Claudio Rojas (CEO, NACO) emphasized throughout the Summit, incubators and accelerators aren’t optional infrastructure. They’re essential to Canada’s innovation economy.
View highlights from the event in NACO’s official photo gallery
Learn more about North Forge’s support for early-stage founders
