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Every time I've looked into it in detail, I feel Canada's VCs/angels are essentially bankers. Too much risk minimization going on (at the expense of the entrepr
by throwaway1979 13y ago
Every time I've looked into it in detail, I feel Canada's VCs/angels are essentially bankers. Too much risk minimization going on (at the expense of the entrepreneur). What I find is a travesty is that the recent govt of Canada investment in developing startup activity will most likely go to these glorified bankers to help them further reduce risk.
Look at how much YC has spent on its startups ... my memory might be faulty but when I heard pg give the number it was around 6 million. If the govt of Canada did a program similar to startup Chile where they would invest in people's startups for a few months, THAT would have been a game changer for the smart Waterloo and UofT grads. Squandered opportunities ...
- usernew1817 13y agothis is very true, very low valuation, a friends company got into an incubator, a very well known incubator in SV, and their current investor called them retards because the valuations wasn't proportionate to revenue...
- redthrowaway 13y agoYou're right on the money. Bay St likes resources, not startups. The company I'm currently working for was started by a couple of fresh UVic grads in 2005 and they went through 60 VCs before they found one who both had a worthwhile network, and seemed legitimately interested in funding a startup that had positive cashflow from day 1 and partnerships with tech titans.