Title: Venture capital financing in the Canadian innovation system

Authors: Jarunee Wonglimpiyarat

Addresses: The National Science and Technology Development Agency, Ministry of Science and Technology, 114 Thailand Science Park, Paholyothin Rd., Klong 1, Klong Luang, Pathumthani 12120, Thailand

Abstract: This paper investigates the management of the Venture Capital (VC) industry in Canada. The key government initiatives as well as the organisations/institutions established to create the dynamic and innovative system underpinning the industrial development of Canada are examined. Within the Canadian National System of Innovation (NSI), the government is an effective player in planning and implementing policies for industrial competitiveness. The paper examines the major Canadian industrial clusters and key players to understand the financing practices in the sphere of venture capital management. The findings show that the federal government, through its initiatives, has been the main factor in the creation of NSI. Many government programmes and policies were developed to nurture innovation in private firms, academia, and government organisations. Policy implications of the Canadian innovation system will be useful for other countries to use the government|s innovative activities as important lessons towards better exploitation of the NSI approach.

Keywords: National System of Innovation; NSI; innovation systems; venture capital financing; industrial clusters; risk capital management; Canada; federal government; innovation policy.

DOI: 10.1504/IJTPM.2006.010071

International Journal of Technology, Policy and Management, 2006 Vol.6 No.1, pp.33 - 48

Published online: 14 Jun 2006 *

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