"It's impossible to overlook the importance of new companies in the overall drive to increase productivity, profitability and growth in the Canadian economy," said Linda Hohol, TSX Venture Exchange President and event co-sponsor. "Access to capital is one of the biggest barriers a new business will face as it attempts to grow and succeed. All levels of government and corporate Canada should come together to develop solutions today."
The one-day event, entitled 'Risk Capital in Canada: Breaking Down Barriers, Increasing Access,' is hosted by the University of British Columbia's Faculty of Commerce, in association with the Canadian Foundation for Investor Education (CFIE). Sponsored by The Federal Department of Finance and TSX Venture Exchange, the event drew over 100 attendees, representing Canadian government, academia and business.
"Public and private interests must work together to grow the pool of available venture capital in Canada and address regulatory issues that hinder business growth, and decrease Canada's competitive advantage as a premier location to do business," said Daniel Muzyka, Dean of the Faculty of Commerce.
Premier Gordon Campbell opened the symposium, which featured leading authorities in risk capital, including Doug Hyndman, Chair of the B.C. Securities Commission, Mary Macdonald, President, Macdonald and Associates, William S. Bygrave, Babson College, Harry Haskins, Associate Administrator for Investment, U.S. Small Business Administration, Samuel L. Duboc, President and Managing Partner, EdgeStone Capital Partners and Bob Hamilton, Assistant Deputy Minister, Financial Sector Policy Branch, Department of Finance.
The event examined the overall risk capital environment and infrastructure for emerging, innovative companies in Canada, including a comparison of Canada's performance against international standards, an examination of the supply of risk capital and whether government policies and programs do enough to support emerging Canadian companies.
This is the second symposium in a national series from the CFIE focused on Canadian capital markets. The first was held last March in Toronto on the issue of securities regulation in Canada.
"Today we enjoyed an open, inclusive discussion of the issues facing Canada's emerging companies," said Lonnie Tate, Chair of the CFIE. "The symposium series is designed to engage those who can lead change in a discussion that could ultimately lead to solutions."
Information on speakers and panels is available at www.tsx.ca (under News & Events) or www.commerce.ubc.ca/news. For more information on the symposium series, send a note to symposium@tsx.ca.
The CFIE, established by the TSX Group in January 2002, is a national, educational, charitable organization dedicated to increasing interest, knowledge and understanding of issues important to Canadian investors and capital markets. The Foundation seeks to create a forum for the exchange of ideas and information. For more information on CFIE, go to tsx.ca and click on "About Us" & then "Education".
As one of the world's leading business faculties, UBC Commerce represents the future of management thinking. Combining award winning research, an outstanding faculty, and unmatched global partnerships, UBC Commerce generates new business knowledge, fuels organizations with innovative ideas and graduates tomorrow's business leaders.
