Startups and the budget: What innovators need from Ottawa
As Finance Minister Bill Morneau gets set to reveal the Liberal government’s second budget this week, one of our themes on BNN today is the pressure on Ottawa to avoid squashing innovation in the economy as it tries to restrain deficits.
Jonathon Azzopardi, president of high-tech compression mould maker LAVAL International, joins us at 10:10 a.m. ET. He says Wednesday’s budget must support research and development – and he warns that Canadian small and medium businesses are "vulnerable" but that research can help them stay competitive.
At 12:30 p.m. ET, we’ll hear from Whitney Rockley, co-founder of McRock Capital, a venture capital firm focused exclusively on the “industrial Internet of things” (IIoT,) the drive to incorporate machine-to-machine communication in the economy.
She tells segment producer Michelle Zadikian that Morneau would do well to support venture investment though a program like the previous Venture Capital Action Plan. “What began as $500 million in commitments from the federal and provincial governments resulted in an additional $3.88 billion of private capital being attracted to the VC ecosystem or $7.75 of private capital for every $1 of government funding,” Rockley argues.
Check out her comments here, along with a cool infographic showing “a Canadian VC innovation tree that is seeding an entire forest of unique, high-growth companies.”
MARKET CALL TONIGHT IS MOVING
Starting today BNN’s Market Call Tonight broadcast will begin at 5:30 p.m. ET/2:30 p.m. PT.
We asked 10 Canadian business leaders to share their wish list for the budget and the suggestions ranged from curbing deficits to avoiding any temptation to water down the dividend tax credit or tax capital gains more heavily. Web producer Nicole Gibillini has a roundup here.
BUYERS' TAX EXEMPTIONS
Stimulating innovation and attracting tech workers is on every government’s agenda.
B.C. Premier Christy Clark is offering an exemption from the tax on foreign home buyers in Metro Vancouver for people who arrived under the provincial nominee program, aimed at attracting skilled workers.
Finally, speaking of entrepreneurship, check out Catherine Murray’s interview with entertainer Pitbull, who was in Toronto this weekend to speak at the Real Estate Wealth Expo. That’s on Business Day PM, starting at 2 p.m. ET.
Renowned inspirer Tony Robbins (always raw and stimulating) was also at the show and he’s mentoring Pitbull in a new career in motivational speaking. Segment producer Michael Chu notes that the artist offers tips on handling the social media tsunami (he has nearly 24 million followers on Twitter) and how he tries to filter out the noise.
That’s something we all could use.
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