Share Your Feedback with the Minister of Finance on How to Increase Venture Capital in Canada
By Andrea Wahbe on Jun 29, 2012 / Categories: CDMN News, Featured
In Economic Action Plan 2012, the federal government announced that it would allocate $400 million to help increase private sector investments in early-stage risk capital and to support the creation of large-scale venture capital funds led by the private sector. Last week, the Honourable Jim Flaherty, Minister of Finance, launched consultations on increasing the availability of venture capital for high-growth businesses in Canada.
The government is seeking to increase the capital and expertise available for growing, innovative firms while focusing resources on companies most likely to become global leaders, and has engaged Samuel L. Duboc, a successful entrepreneur and business investor, to serve as a special advisor on venture capital.
“Our government recognizes the crucial role played by private sector risk capital in driving business growth and innovation,” said Minister Flaherty. “These new resources will make it easier for entrepreneurs to access needed venture capital investments, helping high-growth firms develop and succeed.”
The consultations require input on the financing needs of high-growth firms in Canada, the factors that influence private sector participation in venture capital, and the role that governments can play in developing an environment that supports a sustainable private-sector-led venture capital market. Further details can be found here.
How to participate in the consultations
If you or your organisation wishes to provide input, you are invited to submit comments to the address below or by e-mail to ConsultationsVentureCapital-CapitaldeRisque@fin.gc.ca. The closing date for comments is July 27, 2012.
Consultations on Support for Venture Capital
Economic Development and Corporate Finance
Department of Finance Canada
12th Floor, East Tower
140 O’Connor Street
Ottawa, Canada K1A 0G5