Comment by Sytten
7 hours ago
If we want to meaningfully reduce our dependency we "just" need more capital. All founders in Canada will tell you that Canadian VC suck: they are risk averse, their due diligence is painful and their terms are made so they can't lose. It is not rare in Canada for ex-founders of failed startups to be hundred of thousands of dollars in debt. That's why we are always advised to go seek funding in the US.
In Canada we like to give money to big established monopolies, that's our thing. The SR&ED program is a prime example of that, as a bootstrap business it took us 3 years before we could apply since we didn't have enough money to front full salaries for 1.5y before receiving a grant.
It is not really a complex problem to solve, the entrepreneurs know the solutions but our politicians and wealthy people are so small c conservative it's pathetic.
I mean it’s their money, not yours. Stands to reason that if you have a silly amount of money you can afford to spend it in silly ways (and if you don’t, you don’t). Sometimes you even hit it big then you get to tell everyone how much of a genius you are!