Community Engagement Conclusions:
Cultural Considerations
Throughout the community consultation and research process, the need for culturally-relevant approaches with respect to an angel investor community in Yukon was clear. Recognizing and respecting the cultural influences in angel-funded businesses can result in a stronger relationship between an entrepreneur and an investor. Without cultural understanding, the investor- entrepreneur relationship may experience unnecessary challenges. In turn, those challenges risk translating into a business that struggles to get off the ground. In contrast, where those cultural influences are optimized, this can contribute to the sustainable development of highly successful businesses. Ideally, both Yukon-based and external-based leadership will embrace and champion both needs and cultural considerations specific to Yukon. This leadership role will be critical not only within Yukon and across Canada, but also where similar needs and cultural considerations are prevalent internationally.
Local interest and support are strong for the development of a Yukon-based early-stage investment network, among ecosystem partners including companies, individuals, and government. There is an opportunity for the community to take the lead in organizing investor development, and contributing to the development of investor-ready entrepreneurs; and Development, operational, and financial support will be needed from various levels of government to establish a thriving Angel Group and complementary Angel Fund.
The need for an organized, collaborative, and robust community of Yukon investors is clear:
Investor identification, support, and involvement are needed to enable investment into local entrepreneurs or companies; Providing support to Yukon investors through the sharing of Canadian best practices, education, and experience of
veteran investors will help in the development of Yukon specific approaches; and;
In order to support sustainable local growth and minimize the risk of local market failure, it is important to connect Yukon-based companies and investors with peers in other regions and broader opportunities across the national landscape.
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MOBILIZING ANGEL ACTIVITY IN YUKON
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