T H E I N V E S TME N T E N V I RONME N T The Impo r t ance o f S t r uc t u r ed Ange l Ac t i v i t y and Gove r nment Suppo r t
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compared to the initial target. In ad- dition to job stability, the early-stage ecosystem is essential to the growth and maintenance of small and medi- um-sized enterprises (SMEs) across the country. Remarkably, during the project period, there was a 135% in- crease in the number of SMEs as- sisted by organizations who received the grant in comparison to initial tar- gets. This goes in line with the fact that organizations reported a 21% in- crease in the number of businesses created, maintained, or expanded as well.
This program is intended to build angel capital capacity throughout Western Canada, increasing in- vestment activity and outcomes, improving processes, growing an- gel organization membership, and strengthening the role of angel orga- nizations in the investor community. The WCAN grant had a significant impact in numerous important areas when comparing each organization’s initial target numbers to final results. There was a 42% increase in jobs maintained during the project period
Recently, select Western Canadian organizations composed of angel groups and incubators and accel- erators participated in the Western Canada Angel Network (WCAN) grant funding program facilitated by NACO in partnership with Western Economic Diversification Canada. The WCAN grant amount for the year was $240K, distributed between six Canadian organizations in the ear- ly-stage ecosystem, The51, VANTEC, NorthForge, Co.Labs, Capital Invest- ment Network, and Valhalla.
202 1 ANNUAL REPORT ON ANGEL I NVEST I NG I N CANADA The Chang i ng Landscape
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