Welcome!

News Feed Item

Strengthening Canada's Economy Through new Immigrant Investor Program

Harper Government working with Canadian business leaders to support an entrepreneurial business culture in Canada

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/06/14 -- Industry Canada

Industry Minister James Moore today hosted a round-table discussion with business leaders in Vancouver on key elements of a new Immigrant Investor Venture Capital (IIVC) pilot program. They discussed angel investors, seed-stage venture funds and business accelerators to determine where the real need is in the small business and entrepreneurial ecosystem and to ensure that the pilot program will truly drive entrepreneur success in Canada.

The Government of Canada is working with the IIVC pilot program expert panel to help build an entrepreneurial culture in Canada, complement public funds that support the development of early-stage companies and showcase Canada as an attractive destination for risk capital investment.

The expert panel members include Dr. Ajay Agrawal, Mr. Barry Gekiere, Mr. Grant J. Kook, Ms. Senia Rapisarda and Mr. John Stokes, who serves as chair.

This meeting concludes a series of consultations that were led by the expert panel and took place in cities across the country. The IIVC pilot program is led by the Minister of Industry in collaboration with the Minister of Citizenship and Immigration.

Quick facts


--  In Economic Action Plan 2014, the government announced that it will
    replace the ineffective Immigrant Investor Program and Federal
    Entrepreneur Program and eliminate their long-standing application
    backlogs in order to ensure that immigrant investors have opportunities
    to contribute to job creation and economic growth in Canada. 
--  The new IIVC pilot program will test the feasibility of attracting
    immigrants who will contribute to Canada's growth and long-term
    prosperity by placing an at-risk investment in a new Canadian venture
    capital fund. 
--  Canada has great benefits to offer investors: ambitious entrepreneurs, a
    skilled labour force, a strong economy and a sound banking system. 
--  A key objective of the government is to ensure that capital is available
    to help finance the creation and growth of Canada's most promising
    enterprises. 

Quotes

"One of Canada's greatest assets is our creative and hard-working entrepreneurs, and we want to make sure that they have the capital they need to build our nation's innovative enterprises. Leveraging investments from immigrant investors will help support the continued growth of the Canadian economy, a priority for our government."

- James Moore, Minister of Industry

"Our government values the feedback received by Canadian business leaders who will provide insight on a new Immigrant Investor Venture Capital pilot program. Our government looks forward to the launch of the pilot program, which will attract real investments and will benefit the Canadian economy and labour market."

- Chris Alexander, Minister of Citizenship and Immigration

Related product

- Backgrounder: Immigrant Investor Venture Capital Pilot Program Expert Panel

Associated link

- Encouraging Long-Term Prosperity and Economic Growth: Government working with Canadian business leaders on a new immigrant investment pilot

Follow us on Twitter: @industrycanada

Backgrounder

Immigrant Investor Venture Capital Pilot Program Expert Panel

Ajay Agrawal is the Peter Munk Professor of Entrepreneurship at the University of Toronto's Rotman School of Management, Research Associate at the National Bureau of Economic Research in Cambridge, Massachusetts, co-founder of The Next 36 and founder of the Creative Destruction Lab. He teaches courses on business strategy, innovation and entrepreneurship. He was recognized as Professor of the Year by the Rotman School's graduating MBA class seven times. Professor Agrawal conducts research on the economics of innovation and creativity.

Barry Gekiere has over 25 years of experience in senior management positions in venture capital, private equity and operating companies. Prior to joining MaRS Discovery District, he was a partner at Ventures West Capital Ltd., one of Canada's largest and longest-standing venture capital firms. During his 13 years at Ventures West, Mr. Gekiere worked closely with entrepreneurs while making early-stage technology investments in IT, communications, cleantech and medical device companies. Prior to Ventures West, he had experience as a partner in two private equity firms specializing in expansion-stage financing and leveraged buyouts.

Grant J. Kook, C.Dir., S.O.M., is the founder, President and Chief Executive Officer of Westcap Mgt. Ltd., Saskatchewan's largest private venture capital fund manager, with over $540 million under management. He has been an advocate for designing, developing, capitalizing and managing a specialized family of funds that fill capital gaps in the western Canadian economy. The funds under management are individually focused on early-stage innovation, venture capital or growth, management buyouts, infrastructure, and First Nations sectors of the economy. Mr. Kook is also the founder, President and Chief Executive Officer of Cheung On Investments Group Ltd., an international investor syndicate fund that was founded in 1989 and rated as one of the top 100 companies in Saskatchewan.

Senia Rapisarda is an experienced institutional investor who is presently consulting for HarbourVest in order to establish and lead its Canadian efforts. She was Vice-President, Strategic Initiatives and Investments at the Business Development Bank of Canada (BDC) from 2010 to 2013. In this role, Ms. Rapisarda led BDC's efforts to develop a healthy venture capital ecosystem in Canada through several key strategic initiatives and investments, investing over $40 million in first-time funds and start-ups. Ms. Rapisarda has over 20 years of experience in the telecommunications and technology sectors, including as senior advisor at NUR Energie, a London-based investment fund specialized in renewable energy, and as Managing Director of the Technology Private Equity Team at Nomura International, managing over US$300 million of investments in 42 companies across Europe, Israel and the United States.

John Stokes is a founding partner at Real Ventures, Canada's largest and most active seed venture fund, and is also the co-founder of FounderFuel, one of the country's top tech accelerators. He co-founded or established regional operations for a number of software, Internet and media companies in New Zealand (Bulletin.net), South Africa (Brightpoint SA / MTN PAYG), Malaysia (Aethos Asia Pacific) and Japan (Livedoor and Vogue Planet). Mr. Stokes also founded Piermont Ventures Ltd., a Hong Kong-based boutique investment and advisory business that advised entrepreneurs and invested in their start-ups.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
SYS-CON Events announced today that Tappest will exhibit MooseFS at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. MooseFS is a breakthrough concept in the storage industry. It allows you to secure stored data with either duplication or erasure coding using any server. The newest – 4.0 version of the software enables users to maintain the redundancy level with even 50% less hard drive space required. The software func...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
SYS-CON Events announced today that EARP will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "We are a software house, so we perfectly understand challenges that other software houses face in their projects. We can augment a team, that will work with the same standards and processes as our partners' internal teams. Our teams will deliver the same quality within the required time and budget just as our partn...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that Systena America will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Systena Group has been in business for various software development and verification in Japan, US, ASEAN, and China by utilizing the knowledge we gained from all types of device development for various industries including smartphones (Android/iOS), wireless communication, security technology and IoT serv...
SYS-CON Events announced today that Outscale will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outscale's technology makes an automated and adaptable Cloud available to businesses, supporting them in the most complex IT projects while controlling their operational aspects. You boost your IT infrastructure's reactivity, with request responses that only take a few seconds.
Regardless of what business you’re in, it’s increasingly a software-driven business. Consumers’ rising expectations for connected digital and physical experiences are driving what some are calling the "Customer Experience Challenge.” In his session at @DevOpsSummit at 20th Cloud Expo, Marco Morales, Director of Global Solutions at CollabNet, will discuss how organizations are increasingly adopting a discipline of Value Stream Mapping to ensure that the software they are producing is poised to o...
DevOps at Cloud Expo – being held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real r...
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...