Loopio’s Zak Hemraj shares tips for Canadian CEOs leading teams through “crisis after crisis”

It’s not often that a group of Canadian technology founders break out in a rendition of the national anthem.

That’s what happened last Monday at a TechTO event, shortly after an agreement was reached to temporarily pause a threatened 25 percent US tariff on Canadian goods.

“It’s one of your responsibilities as a leader to help people focus. Bring people back to the things that are in front of them and the things they can control.”

“The last five years has been one shock to the system after another,” TechTO co-founder Alex Norman acknowledged after the impromptu demonstration of national pride.

Norman described the ongoing US-Canada trade dispute as part of a continuum of disruptions faced by Canadian tech founders over the past five years, including COVID-19, inflation, and the evolution of AI.

Loopio CEO Zak Hemraj, who took the stage with Norman, acknowledged that his cohort of Canadian technology CEOs have faced exceptionally complex times.

“COVID was the first time I felt, ‘I’m leading through a crisis,’” Hemraj said. “And since then it’s felt like it’s crisis after crisis.”

Toronto-based Loopio, which offers RFP management tools, was one of countless Canadian companies left wondering last week if proposed US tariffs would apply to Canadian software products.

“It’s hard when your team is looking to you for answers and you don’t have them,” said Hemraj.

He advised the 400-person audience to help their teams focus on tangible things, especially when factoring in social media and remote work environments.

“It’s so easy for people to spiral,” he said. “It’s one of your responsibilities as a leader to help people focus. Bring people back to the things that are in front of them and the things they can control.”

Looking forward, Hemraj said that dramatic advancements in AI have posed the greatest existential challenge to his 10-year-old company.

“When we came into the market, we were disrupting the old way of doing things. Here we are 11 years later and there are all these companies coming in saying: ‘Loopio is the old way of doing things,’” said Hemraj. “Hearing that as a founder is soul crushing.”

The transition towards AI-focused innovation was evident even in the event lineup.

The other two founders featured at TechTO were Fion Lee-Madan, co-founder of FAIRLY AI, and Jai Mansukhani, co-founder at OpenSesame, which builds AI agents using natural language.

Hemraj said AI companies like these have been a galvanizing force for Loopio, which has invested heavily in its own generative AI approach.

But he sees more established technology companies as having a competitive advantage against AI challengers, as they are able to test new tools with an existing roster of established customers.

“It’s a really interesting full circle experience,” Hemraj said of the urgent need to adapt to a shifting landscape. “It forces you to get more involved and experiment again.”

Watch the full conversation with Loopio’s Zak Hemraj here.

Feature image courtesy of Sean Pollock for TechTO. Check out the full calendar of TechTO events here.