Steve Irvine

As an emerging manager from an underdeveloped ecosystem, I listened hard to how the Canadian government focuses on supporting emerging #venturecapital managers as the critical path to accelerate their ecosystem. They have been implementing a long term program to back emerging #VCs, and now a decade later, the results speak for themselves. 1. The Canadian venture capital ecosystem has grown significantly, with annual investments increasing from $1.9 billion in 2013 to $6.9 billion in 2023. 2. Canada ranks in the top five in terms of #VC investment as a percentage of GDP. 3. The Business Development Bank of Canada (BDC) is Canada’s most active single VC investor, managing over $4.2 billion in VC #investments. The BDC is also increasing VC investments to help increase diversity in the area, having recently launched its $500 million Thrive Venture Fund and Lab for #Women, the largest investment platform of its kind in the world. Like Valor VC does, funds managers selected under the VCCI are required to collect gender and diversity metrics, as well as implement policies and practices that promote #inclusion internally, in building their portfolios, and in the broader VC ecosystem. Minister Rechie Valdez shared: “Our government believes that anyone who has a dream of launching a #startup and bringing their innovative ideas to life should be able to do so, no matter who they are or where they come from. We’re helping make this a reality by making more capital available to VC firms, including those led by women and members of other equity-deserving groups. ... Supporting diverse and under-represented #entrepreneurs in the VC sector is not only the right thing to do; it is the smart thing to do and is essential to boosting Canada’s economy to its full potential.” Atlanta and the South are in the early days of becoming a top 5 ecosystem. There's a lot we can learn from our neighbors to the North--they also have the advantages and opportunities inherent in a diverse, multi-ethnic and even multi-lingual environment. I really enjoyed seeing excellence in action at this week's Kauffman Fellows summit. THANK YOU Canadian Fellows for these, and so many take aways from your world-class ecosystem: Alicia Lenis Ela Borenstein George Babu Joanna Harries Lesley Esford Mark Trevitt Michelle Scarborough Rob Barbara Shirley Speakman More details: https://lnkd.in/e5kgG4xt

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