THIS WEEK’S launch of a regional venture capital fund that will pool government and private contributions should be good news for the Atlantic economy and business innovation.
First, there’s a clear need for the fund, which is starting with $37.5 million to support the growth of high-potential knowledge-based companies in the region.
The difficulty in finding local equity, and the problems associated with going down the road to venture capitalists who don’t know this region, have long frustrated entrepreneurs. Regional development expert Donald Savoie’s 2010 report to the premier on growth strategies identified the scarcity of venture capital as a problem throughout Atlantic Canada.
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