Canada's Angel Investors and Venture Capitalists are Disappointed

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Business plans for angel investors
Business Plans for Venture Capital

Canada's investment community is very disappointed in the government's budget during the current economic crisis.

Canada’s Venture Capital and Private Equity Association, who initially requested the government to create a $300-million fund to help start-up tech companies commercialize their products and additional R&D tax deductions for venture capitalists, issued a press release reacting to the federal budget.

“We commend the budget’s inclusion of “shovel-in-the-ground” infrastructure projects and the allocation of new funding for innovation within Canada’s educational institutions, which will help to stimulate the economy and support long-term growth,” Gregory Smith, president of the CVCA and president of Macquarie Capital Funds Canada Ltd., said in a statement

"Unfortunately, the budget has failed to address the current shortage of venture capital financing, which presents a significant challenge to near-term job creation and to Canada’s future prosperity in the important knowledge-based economy."