Spotlight on Atlantic Canada 3.9
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BY NAT I ONA L ANG E L CA P I TA L ORGAN I Z AT I ON
The Atlantic region itself has been hitting its stride when it comes to startup and innovation activity. Thanks in part to a fiercely protected ‘Atlantic Bubble’, the re- gion’s innovation ecosystem was able to thrive during the COVID-19 pandemic and the rest of Canada cer- tainly took notice. In December 2020, NACO provided a sneak peek of the action at the NACO Atlantic Summit. This national event focused on the Atlantic Canadian re- gion, bringing together diverse perspectives from across the innovation ecosystem to explore themes related to mobilizing capital, engaging investors and leaders from across Canada and around the world.
According to data collected over the past 11 years, At- lantic Canada continues to lag behind the rest of Can- ada when it comes to structured angel activity. Cen- tral Canada (Ontario and Quebec) accounted for 72% of investments in 2020 compared with 25% in Western Canada and just 3% in Atlantic Canada. This is certainly concerning and NACO continues to work closely with key partners in the region to mobilize capital for entre- preneurs. Although Atlantic Canada has not had a re- gional angel group since 2019, the good news is that angels in the region have continued to invest, often in close proximity to early-stage funds.
202 1 ANNUAL REPORT ON ANGEL I NVEST I NG I N CANADA The Chang i ng Landscape
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