Finance committee  Very simply, what we are doing is what the mining industry needs to do. We need to find the angels who are hidden away in the shadows, as it were. We have only seen a fraction of those who could be investing in our companies come to the table, form groups. We feel that we have an untapped resource here that we need to mobilize significantly, and I think we'll see a change in the direction of the flow of money.

Finance committee  They're not in front of cameras. I would say there is no theatre and there is no drama. These are serious people who have been successful in business, generally speaking, and who are much more interested in giving back to their economy and seeing the next generation of entrepreneurs succeed as they have previously.

Finance committee  If I may answer in English, you're saying “a more general policy” for angel investors. I don't quite understand what you might mean by that.

Finance committee  That's correct.

Finance committee  Briefly, angel investors typically invest small amounts at the early stage, prior to more senior venture capital wanting to become involved in deals. Therefore, we are filling a capital availability gap at a different timeframe than senior venture capital does. We take people through what is often termed the “valley of death”.

Finance committee  How will low taxes help? They always help provide incentives for people to be more engaged in our companies and to work on this side of the border as opposed to taking their businesses to other jurisdictions.

Finance committee  I would say that our members have not necessarily benefited. It is the companies they invest in that benefit from our angel activities. We don't look at the personal gains of the individuals. That's not how we rank our activity.

Finance committee  Thank you, Mr. Chairman and committee members. I'm Rob Douglas. I'm a director of the National Angel Capital Organization, otherwise known as NACO, and also president and co-founder of an angel investor network in southwestern Ontario. I come to you this afternoon to deliver good news, both about NACO angel investors across Canada and about early-stage companies.