Billionaire calls for national startup funding program
Thursday, Jun. 07 2012,
Sir Terry Matthews, founder of Mitel Corp. and Newbridge Networks Corp., has teamed up with the Canadian Advanced Technology Alliance lobby group to call for the creation of a national venture capital strategy, according to a post on the CATA website.
Interested readers can obtain A Venture Capital Blueprint for Canada by e-mailng a request to firstname.lastname@example.org.
“Unless we take this opportunity to rethink Canada’s approach … we will not have achieved much more than a short-term fix to the VC sector, perpetuating the classic ‘vicious circle’ within which both our VC industry and tech sector industries are now trapped,” Mr. Matthews and CATA said in a news release.
Among the key recommendations in the blueprint:
- Ottawa should choose a private VC firm to set up and manage an investment portfolio.
- The Business Development Bank of Canada (BDC) should place the money with top VC funds across Canada based on a bidding process.
- Canada’s program should be modelled after Israel’s Yozma initiative, which is credited with helping that country rank only behind Silicon Valley as the largest VC market in the world.
Startups most likely to succeed
SVForum, a non-profit organization for technology entrepreneurs in Silicon Valley, has selected its “most likely to succeed” startups. Six winners were chosen from 30 new companies that presented at a recent event to an audience and a panel of venture capitalists and angel investors, whose combined votes determined the selections. More than 300 companies applied to present at Launch: Silicon Valley 2012. Here’s a list of the winners in each category:
- Life Sciences: Evena, from Los Altos, Calif.
- Mobile: Klickex, from Palo Alto, Calif.
- Next-generation Internet: Noodle, from New York City; SocialiQ, from Burlingame, Calif.
- Technology: Kiverdi, from San Francisco; ZipZap, also from San Franciso
Entrepreneurs on the silver screen
John Brandon of Inc. magazine has posted a list of the six must-watch movies about entrepreneurs. Ghostbusters is a left-field choice. I won’t spoil the others. Leave a comment to let us know whether you agree with Mr. Brandon’s choices.