By: Andrew Wahl
Ontario’s Ministry of Research and Innovation unveiled a new $250-million plan today to stimulate the province’s moribund venture capital industry. You can read my story on the initiative here. Please comment below—whether you’re an early-stage investor, entrepreneur, or just concerned about the innovation economy, I would like to hear your thoughts on whether this strategy will get the venture capital juices flowing.
Further reading: my recent cover story on the state of early-stage financing.
Also, a first skeptical take from Wellington Financial’s Mark McQueen, who has been prolific on the sector’s woes.
UPDATE
As noted in the trackbacks, McQueen issued another biting missive today (why he mocks MRI for contacting reporters, I don’t know).
Also, check out Toronto-based high-tech lawyer Suzie Dingwall Williams’ take on things.
3 Responses to “ Ontario’s venture capital stimulus plan ”
Hi Andrew,
Its a start at least. Hopefully the money will get to the right places soon. Its much better than spending money on real estate, sunset car companies or non-tech infrastructure.
Certainly, tech companies can use all the help they can get and they are creating long term jobs for the future.
My only concern is whether it is too little too late for the Ontario VC industry. There are so few early stage investors left.
I wish there was a way that a reasonable portion of these funds could go to the many Internet and tech companies that are not raising VC money, but are forming the next generation of tech companies in Ontario. They are creating jobs, and are the hope for a future rebirth of the industry.
Mark Skapinker
Brightspark, Toronto, Ontario
http://www.brightspark.com
By Mark Skapinker on Mar 18, 2009
Hi Andrew
I wasn’t mocking the idea that the Dept. of Finance would contract reporters about a press release. The point was different: I was just observing the media strategy at work where reporters were given a heads up about the pending release a few hours before it was made so as to begin the “message management” process. To be the first to get into your heads, so to speak, before the media contacted the VC and Angel ecosystem to see what they made of the idea.
As an industry, we dearly appreciate your ongoing interest and attention to the plight of the Innovation Economy!
Mark McQueen
By Mark McQueen on Apr 1, 2009