Entrepreneurs, start-ups and venture capital together, provide the utmost promise of returning confidence and results by addressing the global economy crisis from its roots
Funding innovation by helping promising technologies get into the hands of the consumers is by far the most tangible route towards creating sustainable wealth for all. As a society, we need to promote and encourage entrepreneurship. Our governments need to look into their own backyards and realize that the Venture Capital and Private Equity Industry plays a crucial role in the building of our future. From my own experience both as an entrepreneur and as a venture capitalist, clearly VC is a unique class of financial resource that only the most dynamic entrepreneurs with global ambitions can access. These entrepreneurs are the ones that deliver the most results in any economy. They create Jobs, new products, sustainable growth, and most importantly that provide everybody else with a reason to believe that anything is possible!
Through a straight equity participation or venture debt financing, entrepreneurs are the ones who can realistically convert great ideas into amazing businesses. In a recent study by the CVCA on the economic impacts of venture capital, the study clearly showed that venture capital activity in Canada has resulted in the creation of close to 150,000 jobs and an additional 1% to Canada’s GDP. In addition, according to the Information Technology Association of Canada (ITAC), 700,000 Canadians work in the broader information technology and communications technology sectors.
How was this possible? Because of entrepreneurs. How did they do it? Because they had access to Venture Capital funding.
Earlier today, the Ontario Government officially announced its response and support to the aching Canadian VC & PE industry by launching what they call a $250M matching fund for Emerging Technology Companies. More on McGuinty Government commitment towards supporting Ontario’s research and innovation activities can be found at: http://www.mri.gov.on.ca/english/news/ETF031809.asp
Mark McQueen, one of Canada’s most prolific and well read bloggers on Canada’s private equity has been voicing the urgency to act and to support the Canadian VC & PE industry, and to actively deploy capital to innovative companies for years. Check out what Mark has to say on his recent blog posts at: http://www.wellingtonfund.com/blog
Meanwhile, we are doing our part and will be announcing our 2 most recent deals shortly!
To all of you entrepreneurs, I salute you!
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Tags: Canada, Entrepreneur, Seed, VC, venture capital