BDC launches Mission AI and AI Studio: entrepreneurs will test Canadian AI tools in real small businesses
BDC launched Mission AI and AI Studio on November 2, 2026, in Montreal. Mission AI puts entrepreneurs in charge of testing Canadian-made AI tools in real small businesses, while AI Studio applies the same test-and-measure discipline to BDC's own financing experience — with the aim of dramatically reducing the time between an entrepreneur asking for support and receiving money.
- Who and when: The Business Development Bank of Canada (BDC) launched Mission AI and AI Studio in Montreal on November 2, 2026. Dominic Gagnon will lead Mission AI as managing director; technology entrepreneur Raff Paquin will lead AI Studio.
- The adoption gap: BDC's latest survey found 69% of Canadian SMEs are AI Novices, 83% remain in the learning phase of AI adoption, and only 5% are AI Leaders. Its June 2026 study found only 30% of Canadian SMEs use generative AI, yet those that do are 24% more productive than those that don't.
- Mission AI targets: an initial target of working with 250 entrepreneurs across Canada, scaling to 10,000 SMEs in its first year, testing around 1,000 Canadian-made products in the next three months — Canadian-made tools only.
- How it works: a panel of entrepreneurs tests tools in real businesses, focused on common operational tasks SMEs can automate. BDC cites examples including a quote that takes hours becoming ready for review in minutes, following up on sales opportunities before they go cold, and a first AI agent answering routine customer questions and booking appointments after hours.
- Backing, and what was not disclosed: as of September 2026, BDC was directly and indirectly invested in over 300 Canadian AI companies, representing nearly $800 million. The announcement names no tools, eligibility criteria, or cost for Mission AI; its public test is the 250-to-10,000 target and the time saved in real businesses.
BDC today launched Mission AI and AI Studio, two entrepreneur-led initiatives that put AI to work for business owners. Built “for entrepreneurs, by entrepreneurs,” Mission AI aims to help thousands of businesses adopt AI to improve productivity, while AI Studio aims to reimagine how BDC delivers support and loans through an entrepreneur’s lens.
The case for acting now is in BDC’s latest survey: 69% of Canadian SMEs are AI Novices, meaning they use AI very rarely or not at all; 83% remain in the learning phase of AI adoption; and only 5% are AI Leaders, with AI deeply integrated into their operations and decision-making. BDC’s June 2026 study found that only 30% of Canadian SMEs use generative AI — yet those that do are 24% more productive than those that don’t. “Entrepreneurs know they need AI, but many don’t know where to start,” said Jean-Sébastien Charest, BDC’s chief information officer. “Mission AI assists in identifying curated solutions to help them get started quickly and efficiently.”
How Mission AI will work#
Dominic Gagnon will lead BDC Mission AI as managing director after nine months as BDC’s first Entrepreneur-in-Residence. His team will pinpoint SMEs’ needs and match them with Canadian AI solutions, and a panel of entrepreneurs will test the tools in real businesses. The goal, BDC said, is to make AI easier to adopt so more businesses can improve productivity quickly — responding to entrepreneurs who want credible evidence that a tool will save time, solve a real problem, or improve performance before they commit.
“An entrepreneur should not have to become an AI expert to benefit from it,” said Gagnon. “If a tool helps a business get a quote out faster or spend fewer hours processing invoices, that matters. Mission AI can help put Canadian solutions to the test in real businesses, with entrepreneurs helping decide what works.” Gagnon, founder and chief executive of Montreal-based Connect&GO, told the Financial Post that Mission AI has an initial target of working with 250 entrepreneurs from across Canada, with an ambition of helping 10,000 SMEs in its first year, and that it will only use Canadian-made tools, with around 1,000 products to test in the next three months. He pointed to Sadie, an AI receptionist for hospitality businesses that takes phone calls around the clock to answer questions and make reservations, as the kind of simple tool showing fast results — and said the program will track metrics including time saved, so businesses keep using the tools for years rather than churning after a trial.
AI Studio turns the same lens inward#
Technology entrepreneur Raff Paquin will lead BDC AI Studio. He brings experience building and scaling technology businesses, with roles at Shopify, Lightspeed, Altitude Sports, Frank And Oak and Return Magic. The studio aims to build and deploy solutions designed to help BDC simplify its processes, improve service, and help entrepreneurs access financing faster — reinventing the experience of seeking financing and support so it is faster, simpler, and more transparent, with the ambition of dramatically reducing time to money and giving entrepreneurs greater visibility and predictability at every step.
“The approach is simple: test quickly, measure the impact and scale what works. AI creates value when it solves real problems,” said Paquin. “We’ll focus on tools that help our clients get answers faster, access financing sooner and spend less time on administration.” Gagnon’s own route into the role underlines the entrepreneur-led pitch: BDC appointed him its first Entrepreneur-in-Residence in April 2026, after a webinar in which he described using AI tools to streamline routine tasks drew almost 800 LinkedIn messages from other business owners, the Financial Post reported.
The money already behind Canadian AI#
Mission AI also aims to help Canadian AI startups serving the SME market grow faster, by connecting promising solutions with business needs and helping them reach more customers. As of September 2026, BDC was directly and indirectly invested in over 300 Canadian AI companies, representing nearly $800 million in total investments. Recent transactions named in the announcement include funding for Veeda AI’s simulation environments for robotics, autonomous vehicles and other physical AI systems, LoopX’s physical AI platform for mining, Ultimarii’s AI-powered regulatory intelligence for large infrastructure, The Wellness Company’s AI health companion, and Axya’s AI-powered procurement platform, plus an indirect investment in Intrepid Growth Partners’ inaugural fund focused on AI founders.
What the announcement does not say is also part of the story. It names no specific tools, no eligibility criteria for the 250 entrepreneurs, and no cost for Mission AI. The test BDC has set for itself is public and measurable: 250 entrepreneurs first, 10,000 SMEs within a year, and tools that survive contact with real quotes, invoices, phones, and after-hours bookings — judged by the time they actually save.
Frequently asked questions
What is BDC Mission AI?
Mission AI is BDC's entrepreneur-led initiative to help Canadian small and medium-sized businesses adopt AI. A panel of entrepreneurs tests Canadian-made AI tools in real businesses, and BDC pairs tested solutions with implementation guides and measurable results, starting with 250 entrepreneurs and aiming to reach 10,000 SMEs in its first year.
Who leads Mission AI and AI Studio, and what does each do?
Dominic Gagnon, BDC's first Entrepreneur-in-Residence, leads Mission AI as managing director, matching SME needs with Canadian AI solutions tested by entrepreneurs. Raff Paquin leads AI Studio, which rebuilds BDC's own processes so entrepreneurs get answers faster, access financing sooner, and spend less time on administration, with the ambition of dramatically reducing time to money.
What has BDC not disclosed about Mission AI?
The November 2 announcement names no specific tools, no eligibility criteria for participating entrepreneurs, and no cost for Mission AI. It gives targets instead: around 1,000 Canadian-made products to test in the next three months, 250 entrepreneurs initially, and 10,000 SMEs in the first year, with time saved tracked in real businesses.