Provinces in Canada are home to Angel Groups and Angel Funds as well as a number of individual investors who are not affiliated with a formal Angel Group or Angel Fund, but connect into the angel ecosystem through NACO membership and relationships with local incubators and accelerators. As of the writing of this report, there were no formalized Angel Groups within the territories (Yukon, Northwest Territories, and Nunavut). Interviews with government officials in each of the territories provided insights into the small -and medium-sized business environment and readiness for establishing an Angel Group and/or Fund. Based on the environment, networks, and systems, Yukon was identified as the first location for the development of early-stage angel investing. Yukon business leaders, entrepreneurs, and residents have taken a leadership role to explore the development of angel investment approaches that will work for them. This phenomenal work to date has the support to face the challenges head-on. As an emerging, micro-ecosystem, Yukon is well positioned to start by coordinating a community of angel investors and moving towards a structured group model such as the one developed by the Northern Ontario Angels, North America’s most successful Angel Group. A Case Study of Northern Ontario Angels is included in the resources section of this report. The wisdom gained during the process of developing early- stage investment in Yukon will serve as a guide to other territories and similar locations around the world. Yukon’s cultural, economic, demographic, and geographic environments are unlike any other in Canada where Angel Groups and Funds currently exist. A review of community reports, assessments, and guides identified existing ecosystem partners, considerations, advice, challenges, and gaps needing to be addressed.
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MOBILIZING ANGEL ACTIVITY IN YUKON
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