The federal government is backing five large venture capital (VC) fund of funds (FoF) to boost the much-needed late-stage capital available to Canadian tech firms.
Topic: Budget 2017
Among the innovation-related initiatives announced in Budget 2017 is Innovative Solutions Canada, a $50 million program inspired by the US Small Business Innovation Research (SBIR) program. Recent research has shed new light on the effectiveness of the US SBIR program, and suggests that Canada may be able to design a superior program by offering modest levels of support to young companies in emerging sectors, and letting the private sector fund provide follow-on financing.
Clean technology and traditional resource industries like oil and gas may seem like strange bedfellows but federal politicians hope closer ties between the sectors will enable Canada to meet two of its biggest challenges: reducing greenhouse gas (GHG) emissions and creating jobs. Debbie Lawes reports
The most recent federal Budget has garnered headlines more for what people say it did not do than for what it does. It has been branded as anodyne — a do-nothing Budget, a place holder while we wait to see what our neighbours to the south will do. A recent Nanos poll reported in the April 17/17 Globe and Mail shows that “Canadians dislike [the] Liberal budget,” more for not tackling the deficit than for anything it does.
Opinion is decidedly split on the federal government’s delivery of its promised innovation Budget. The March 22 budgetary planning document contains a wide range of measures related to skills, company financing, program consolidation and clean technology.