I have been hearing variations on this theme for a number of years, and its a trend that is advancing, not declining. It seems to me odd tha Canadian firms - with the advantage of a strong scoial infrastructure and some of the best talent in the world - cannot obtain venture capital. Some would say that it's high taxes, but I don't buy that: Canadian corporate taxes are low, government grants are abundant, an ancilliary expenses - such as employee health care or security - are minimal. Most venture capital comes from the United States, and I think that the cause of the decline is something we cannot address: we're not American. I don't mean this in a nationalistic way, more of a cultural way: our corporate and employee culture is different, we use different money, we have different laws, and we have to cross a border to reach U.S. markets. If this, or something like this, is right, then venture capital markets in Canada are not going to change, which means that looking to the outside to grow is a losing proposition.
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