Start-ups, there is a very interesting event I wanted to draw to your attention that should be of interest to anyone considering raising seed funding.

A bit of History:
Ontario used to have something called LSIF (Labour Sponsored Investment Funds) which were cancelled by the current government of Ontario in August 2005. BIG MISTAKE. Anyway, that’s just my opinion. Since the cancellation of the LSIF seed funding in Ontario has all but dried up and there are many starving start-ups at the earliest stages of formation because no one wants to invest and assume that level of risk. LSIF used to provide an important source of early stage funding and while not perfect should have been tweaked and made better rather than cutting the proverbial nose off to spite the investors face. LSIF also known as retail funds are an important ingredient (currently absent) from the Ontario Start-up scene.  Both BC and Quebec have LSIF or their equivalent (LSVCC) and the start-up and investment scene in early stage businesses there is much brighter. IMHO Ontario should fix and re-instate the SIF (Start-up Investment Fund) I dropped the L because I never really understood why you should be required to have a Labour Union sponsor the fund. A bit bizarre, but anyway I digress.

The whole point of this is to draw your attention to:

On Monday December 8th 2008 there is a roundtable to discuss the crisis in funding early stage companies, the challenges and options we are facing in the marketplace, and to seek your support for the implementation of a new Ontario retail venture capital program.  The program must be designed to provide much needed financial resources to Ontario’s research and innovation sector. Please note contact to register by RSVP.

Date:     Monday December 8th 2008

Time:     8:00am to 11:00am (including continental breakfast)

Agenda:    Introduction & Industry Overview
                   – Discussion of Existing Provincial Venture Capital programs
                     – CEO Panel Discussion:  The Shortage of Early Stage Venture Capital
                     – Overview of Proposed New Retail Venture Capital Program
Place:    Hampton Inn, 100 Coventry Road, Ottawa, Ontario

RSVP:    charrison@flagshipsolutions.ca or (613) 562-3095

Ian Graham

Filed under: Commercialization, Entrepreneurship, Start-up by Ian
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