Ontario politicians asked to address deteriorating VC climate part 2

1 response

  1. Ian Graham says:

    Good Post Mark.

    To follow my comment posted during the election. I did send a note to both the Premier and John Tory regarding early stage business funding in Ontario. I didn’t receive a response from either.

    Early Stage funding (pre-seed and seed) is almost non-existent in Ottawa and I suspect the same for the rest of Ontario. I am speaking from experience as someone seeking funding for my own project and advising a couple of other early stage businesses.

    I am familiar with the programs the government has in place in Ontario and while they are generally good for the public institutions they do next to nothing for private industry where the real commercialization occurs. Something like the BMEP program means the local economic development agency increases headcount by 2 – 4 people rather than put funds in the hands of entrepreneurs. More money for entrepreneurs and fewer bureaucrats would likely be a good start.

    If Ontario really wants to promote a model of commercialization success it means directing funds to both public and private interests NOT just public.

    That Said, I always get a little nervous when governments are in the business of handing out money. Better to provide the tools and resources to private industry to encourage early stage funding. Can you say LSIF.

    Lots more to say but this is enough for now.

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