Well the Canadian federal and provincial governments are basically just a collective cartel in control of every regulated industry in the country. They really only exist to protect the existing monopolies and oligopolies around banks, oil, electricity, telecom, tobacco, agriculture, alcohol etc. This leaves no money or interest in sponsoring new industries, and helps encourage anti-competitive behavior to crush small companies before they can grow.
Nearly every technology company leaves Canada as soon as they can because they know the Canadian business environment is hostile to startups and small businesses. Canada wants innovators to leave their monopolies alone.
This sounds an awful lot like political talking points without any substantiating evidence. Most tech startups on this site don't overlap with any of the big regulated areas you've listed. It's also the case that you do not see new startups in most of those areas in the US either.
Most startups avoid these markets for an extremely good reason, they are well protected from competition. Every company that's tried to enter the regulated Canadian markets gets shut down pretty quickly either by bankruptcy, lawsuits, or forced acquisition. It's particularly brutal here. What we have in Canada can no longer be described as capitalism. It is totalitarian corporatocracy.
>...a collective cartel in control of every regulated industry in the country. They really only exist to protect the existing monopolies and oligopolies around banks, oil, electricity, telecom, tobacco, agriculture.
You just described almost every government in the world except in the US, you'll need to add Defense Contractors :)
Nearly every technology company leaves Canada as soon as they can because they know the Canadian business environment is hostile to startups and small businesses. Canada wants innovators to leave their monopolies alone.