Finance committee  We're going to do that--

Finance committee  No. If you are a company with 35 employees, and $800,000 is going into your R and D credit application that's audited by your own auditor and then sent to CRA, you might get 90¢ on the dollar of that application, so that's $720,000. Our recommendation would be to send $1.50 bac

Finance committee  Yes, Mr. Chairman. Canada's is a new industry relative to the United States'. They've been doing venture capital since the sixties, and it came to Canada in perhaps the late seventies or early eighties, so there's less time on the job. Largely, institutional investors got into t

Finance committee  No, they're not, because of the inability...what the costing might be. BIOTECanada, for example, would be in favour of it. But you asked the question, and I'm trying to give you an answer for that.

Finance committee  It's the labour sponsored fund.

Finance committee  Two things: first of all, the government already does fund private sector funds via the Business Development Bank of Canada, through its fund of $58 million, which is not enough. It shouldn't be a crown entity, anyway. On the question of the labour sponsored fund, it is a very u

Finance committee  We chose that number because we thought it was achievable, not because it was the perfect number, sir. You know, Teralys in Quebec—

Finance committee  It would be one time...for six or seven years, let's say. Relative to what Teralys is doing in Quebec, which is $750 million, it is obviously not sufficient money. We saw that number as representing five or six or seven lead orders for five or six or seven funds, and that it woul

Finance committee  A $30 million lead order would probably wind up with a $120 million or $150 million fund, so a four to one—

Finance committee  Thanks, Mr. Brison, and for your ongoing interest in our sector for now many years. We released a study in May that looked at 14 different nations around the world. One of them was Israel. The first and foremost thing was that the government of the day got industry to get togeth

Finance committee  Thank you, Mr. Chairman. My name is Mark McQueen. I'm a board member of the CVCA and I run a venture capital fund in Toronto called Wellington Financial. The CVCA was founded in 1974 with 130 member organizations with 1,800 individual participants. In 2008 there were 1,755 VC-b