How many Canadian Uni teams go to the US for the US based competitions? Seems like a more likely bet. (and more than 2 teams to compete against..)
Or, if a city like Montreal or Toronto (or Vancouver?), which has 2 or 3 universities & an equal amount of colleges, they could do a 'city wide' competition.. Then once this is established, then start inviting others..
for example:
Montreal has 2 English & 3 french universities, and an equal amount of colleges (CEGEPs) with a science / engineering curriculum.
Have them all put a team together & compete.
After a year or two, invite others from Ottawa, Sherbrooke, Quebec city, Kingston.. and compete..
Then start expanding the reach / invitation..
The only issue I see, is fields. TC isn't that big of a deal. Launch space is.
And someone to organize the city-wide competition..
(The CAR prefects would be more than an asset to help this get going..)