It is hard to tell whether a C$400 million ($315 million) Canadian venture capital fund will boost innovation as intended because there are few ways to measure its effectiveness, the country's top independent watchdog said on Tuesday.
The previous Conservative government set up the so-called Venture Capital Action Plan in 2013 to stem the loss of young entrepreneurs to the United States and to rekindle investor interest in providing start-up funds for new ventures.
Image: Canada's Auditor General Michael Ferguson speaks during a news conference upon the release of his report in Ottawa, Canada, February 2, 2016. REUTERS/CHRIS WATTIE
