It seems that the government funding opportunities are similar to banks in that history and/or lots of collateral is needed – start ups have none of the former and little of the later. A viable business plan with detailed sales forecasts and cash flows just is not enough to raise seed funding even at the $200K level.
The federal and provincial governments spends millions to advertise availability of some funds yet puts bureaucratic road blocks in place to slow or stop the money flow to those that can use it to create jobs, export sales and wealth. Few in power actually understand running a business (most have not started their own) nor technology and innovation. We were told that an innovative way to approach the market and sell is not acceptable!! Is not ALL innovation the key in an innovation program? Few understand technology and seem unable to call in experts to look at plans based on technology.
It seems that they spend all the cash just looking (paying their own salaries) but not supporting. Where is the calculated risk and support for innovation? Entrepreneurs are risk takers but it is a calculated risk. Some financial support (and less bureaucracy) would go a long way to helping Canada improve its dismal status in global innovation around the globe…
