POLICY RECOMMENDATIONS Moonshots
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A s Canada looks to strengthen its position as a leader in the global innovation economy, it is es- sential for our government leaders to provide the support necessary to grow angel investment capacity across the country. We recommend the following measures to ensure that Canada's entrepreneurs have the financial runway needed to build successful high-growth com- panies — and for angel investors to have the support needed to make informed investment decisions.
Canada's innovation ecosystem does not fully reflect the diversity of our country. Systemic barriers separate women, LGBTQ+ individuals, newcomers, Black, Indig- enous Peoples, and people of colour (BIPOC) from eq- uitable access to investment — and equitable access to opportunity and prosperity. Core operational fund- ing is needed to build national angel investment ca- pacity that will empower a new, more representative generation of entrepreneurs to lead positive change. Unlike the nationally-coordinated approach taken to growing venture capital investment through the Venture Capital Action Plan (VCAP) and Venture Capital Cata- lyst Initiative (VCCI), government support of angel in- vestment has largely been regional, flowing through en- tities like Regional Development Agencies (RDAs) and in some cases, provincial and municipal bodies. Nation- al coordination is needed to build the capacity that will lead to greater investment in, mentorship, and support of Canada’s entrepreneurs.
Recommendation 1: Core Operational Funding to Build National Angel Investment Capacity
That the government provide core operational funding to help build angel investment capacity across Canada, particularly in rural, non-urban, and underserved com- munities.
2023 ANNUAL REPORT ON ANGEL INVESTING IN CANADA
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