Posts tagged ‘ontario’

Due diligence for investor in Ontario renewable energy projects

June 7th, 2011 by Greg Boutin
Miyanaka dam is JR east's dam for electric pow...

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Renewable energy business in Ontario has taken off, thanks to a well thought-out Green Energy Act (see my article Could Ontario be the next Germany? in Renewable Energy World magazine on the topic, in the specific context of solar power). A financing organization retained GrowthRoute in order to conduct emergency due diligence review on a series of micro-hydro projects. (more…)

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Financial Post doesn’t read GrowthTimes, wakes up on the Ontario Emerging Technologies Matching Fund

January 13th, 2010 by Greg Boutin
The wordmark of the Government of Ontario, fea...
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Karen Mazurkewich, Financial Post, in an interesting article on Monday entitled “The new uber-angels” comparing the VC-fund approaches of Ontario and Quebec, declares on the Ontario Venture Capital Fund that “What Ontario didn’t — or couldn’t — predict was the lack of potential co-investors for these funds.”

Karen, I would invite you and Ontario’s decision-makers to step up your due diligence and review Growth Times’s August 4th, 2009 blog post entitled “Who Will Match Ontario’s $250M Emerging Technologies Matching Fund?”…………….. (more…)

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Who will match Ontario’s $250M Emerging Technologies Matching Fund?

August 4th, 2009 by Greg Boutin
Matching maxiimo

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It’s official, the Ontario’s Emerging Technologies Fund (ETF)  is now open for business. This $250-million fund will co-invest into companies in high-growth sectors such as clean technology, life sciences and advanced health technology and digital media and information and communications technology. Co-investments are made along with qualified venture capital funds and other private investors. For more information see http://www.ocgc.gov.on.ca/

I am generally not a fan of public sector intervention in the private sector, but this comes as a positive move in contrast, since the government has wisely decided to let VCs and angels screen investments for the fund money instead of trying to do it itself. And frankly, after distorting the economy through massive subsidies to under-performing foreign car manufacturers, any public money directed towards innovative ventures is welcome. It also comes as somewhat of a relief to the Venture Capital industry in Canada, which is doing much worse than in the U.S. (yes that’s possible, apparently!), and is down to almost nothing according to this report by their association. Not that there was much in the first place!

The main question is whether there will be dollars to match. In other words, this program unlike, say, SR&ED, doesn’t make investments more attractive. It just makes it possible to invest in more companies. (more…)

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Canadian Business magazine’s criticism of the Green Energy Act misses the mark

May 30th, 2009 by Greg Boutin
Wind Energy - A New Kind of Power Generation i...
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Canadian Business missed the mark in its poorly researched editorial on Ontario’s Green Energy Act and the Emerging Technologies Fund in the June 15 issue.

I support innovative ventures in the cleantech space on a daily basis through my consulting practice at Growthroute, and I recently co-authored an article entitled “Could Ontario be the Next Germany?” with regard to both the Act and the Fund, published in Renewable Energy World Magazine, the most widely-read magazine on clean energy.

As we all know, Ontario has been pouring money by the billion into the car manufacturing industry and other dinosaurs. It is about time some public support be devoted to innovation in cleantech. (more…)

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