Growing the Businesses of Tomorrow: Challenges and Prospects of Early-Stage Venture Capital Investment in Canada

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March 2005

Prepared for Industry Canada, the Ontario Ministry of Economic Development and Trade and the Business Development Bank of Canada © 2005 By Macdonald & Associates Limited. All Rights Reserved.

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This report considers some of the key issues involved in Canadian venture capital (VC) investment in seed, startup and early-stage firms, after almost a decade of industry activity.