Ottawa businessman to launch crowd-funding site for entrepreneurs: Rebecca Lindell, Global News : CATA CEO speaks out
OTTAWA – Ottawa entrepreneur Paul Dombowsky is getting into the online matchmaking business. But he won’t be pairing up lonely hearts. Instead, the chief executive of IdeaVibes will be matching up the empty pockets of entrepreneurs with the wallets of the general public. It’s called crowd-funding, a fundraising method already making waves, and millions of dollars, south of the border...
Read full details on Global News: Global Edmonton | Ottawa businessman to launch crowd-funding site for entrepreneurs
The innovation gap is an issue that has caught the eye of the federal government,
which funneled $1.1 billion into innovation, including $500 million in venture capital, in the last federal budget.
Crowd-funding would be an easy way to kickstart Canadian innovation say supporters.
“I, 100 per cent believe that if Canadians had access to the same crowd-sourced investment, you would see a lot more innovation that turns into commercialization,” Lalonde said.
The alternative, according to one industry association, is to wave goodbye to companies headed to New York or California.
“It’s basically saying let’s not use the new paradigm, where networks go beyond international boundaries, to help Canadian business succeed,” said John Reid, president of the Canadian Advanced Technology Association.
“(Crowd-funding) is an opportunity for us to become a start-up nation, so why wouldn’t we get all over this,” he added...