Canada’s venture capital industry is a damsel in distress so we should be thankful the federal and provincial governments are coming to the rescue.
With not enough money being sprinkled by VCs on money-hungry startups, the federal and provincial governments has been stepping into the breach. Earlier this week, FedDev (a federal government agency with $190-million to invest) injected $4.85-million in eight Ontario startups, while VCs and angels coughed up an additional $15.2-million.
“Ideas and innovation are what the creative economy is all about,” Gary Goodyear, Canada’s Minister of State for Science and Technology, said in a statement. “This will create highly skilled jobs in southern Ontario, and have the potential to make a lasting impression on the economy of our region and beyond.”
To read the full, original article click on this link: Canada's Hottest VCs: The Feds and Provinces | Mark Evans Tech
