US - Canada Venturing?


If you have read any of our VC rants in the past you know we feel that venture funding in the telecom and communications sectors have dwindled down to nothing short of a drip feed.

Surprisingly upbeat

Recently a friend of ours (a Canadian expat) residing in Michigan attended a conference sponsored by the Michigan Growth Capital Symposium. She tipped us off to the proceedings of the conference. From her perspective, the tone of the sessions that she attended was uplifting. Even though the state of Michigan has seen some of it’s worst downturns, on the whole, local participants remained very upbeat. Further, she relayed the story of Marc Faucher, who as a panelist provided an interesting and compelling reason to look to US-Canadian investing - especially in early stage technology.

Good Conditions

Faucher is a partner of the Toronto-based BlackBerry Partners Fund and was speaking with enthusiasm when he said;

From a cross-border standpoint, we’re finding very good conditions for early-stage investments in telecom firms in Canada that we’ll bring down to the U.S. for deals as the companies mature.

Canada has some of the most generous tax incentives you can get anywhere in the world,”

Miller Canfield, attorney, Jeffrey LaBine

It’s about time someone recognized the talent pool we have in this country and fostered it’s growth. While the government level incentives are not perfect they are generous and can be utilized with a degree of determination.

Read related

Tom Henderson of Crain’s Detroit Business has written an article covering this event also. You can also read more related articles here. On a more sobering note you might also want to to read the CVCA’s recent press release.

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