In this episode of Tank Talks, Matt Cohen sits down with Hugh Kolias, Co-Founder and CEO of Canada Rocket Company, right as the company exits stealth with a $6.2M all-Canadian seed round backed by Ripple Ventures, BDC, Garage Capital, and others. Hugh breaks down the real mission: give Canada sovereign, medium-lift launch capability, so we’re not dependent on foreign nations to put critical satellites into orbit, while still building a business that can win globally.
They get into the “hard part” behind the headline: pulling top-tier aerospace talent back home (including veterans from SpaceX), choosing a propulsion strategy that stays competitive by the time the rocket actually reaches orbit, and building a Canadian supply chain without over-verticalizing too early. If you care about dual-use tech, defense tailwinds, or what it actually takes to go from “deck” to “orbit,” this one’s a blueprint.
From Calgary to PropTech Exit to Rockets (02:13)
Hugh’s path: mechanical engineering, a detour into finance, then building and selling a PropTech SaaS business.
Why deep tech finally felt “doable” in Canada: shifting market appetite + policy momentum.
Repatriating Talent and Building a Team That Can Actually Ship (07:01)
How Hugh discovered just how many Canadians were already working across elite aerospace teams.
The pitch that works: Canada’s stability + genuinely hard problems + a rare “clean sheet” chance.
The SpaceX Co-Founder Moment (09:38)
How Hugh recruited his co-founder David, a former SpaceX engineer who helped optimize Falcon 9.
Why “paper to orbit” is the kind of challenge that pulls experienced builders in fast.
The Medium-Lift Strategy and Why Small Launch Fell Off (12:20)
CRC’s focus: ~6,000 kg to LEO (the market gap between small launch and heavy lift).
The key market shift: satellites didn’t keep shrinking once launch costs dropped, so demand moved upmass.
Methalox, Reusability, and Not Building a Rocket That’s Obsolete on Arrival (15:51)
Why CRC is betting on Methalox vs Kerolox: reusability economics and less refurbishment burden.
Their cycle choice: keep it simpler early (open-cycle gas gen) and iterate toward more advanced designs later.
Supply Chain, Partnerships, and Making It Actually Canadian (19:23)
Why CRC prioritizes partnerships early instead of trying to vertically integrate everything on day one.
Designing to match Canada’s industrial strengths (ex: metals/welding realities vs composites constraints).
Government Tailwinds: Defense, Sovereignty, and Capital Unlock (23:47)
How rising defense focus and sovereign launch priorities change the startup math for deep tech.
The bigger point: the “space multiplier” effect and why governments care (jobs, manufacturing, spillovers).
Timeline to Orbit and the Hiring Wave (34:01)
Benchmarks Hugh cites: ~4 years and ~$160M (inflation-adjusted) to reach orbit for top performers.
Scale expectations: ~150 people for light lift to orbit, then 500–1,000 for medium lift + manufacturing.
About Hugh Kolias
Co-Founder and CEO, Canada Rocket Company
Hugh Kolias is a Canadian founder who previously built and sold a PropTech SaaS company before returning to his original obsession: space. Now he’s leading CRC’s mission to build a globally competitive, Canadian sovereign launch capability, while repatriating elite aerospace talent and aligning rocket design with real-world economics, policy tailwinds, and Canada’s industrial base.
Connect with Hugh Kolias on LinkedIn: https://www.linkedin.com/in/hugh-kolias-71a402b0/?originalSubdomain=ca
Visit the Canada Rocket Company website: https://www.canadarocketcompany.com/
Connect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1
Visit the Ripple Ventures website: https://www.rippleventures.com/
