Justin Trudeau Attending Sun Valley Conference

[WestCoastRunner]

There is good reason for JT to attend the Sun Valley conference this week to gain investments for our high-tech companies (especially considering the CDN $ will continue to fall with Brexit's decision):

“The dropping Canadian dollar makes investing in Canada significantly more attractive.” He cited other reasons Americans are enthusiastic about Canada’s startup scene, including strong tax incentives and immigration policies that “allow talented people globally to come to Canada.” Last year, Teten’s firm invested in the Better Software Company, an enterprise resource platform based in Ottawa. Meanwhile, Kayne Partners from Los Angeles invested $15 million to You.i TV, an Ottawa-based software company.

One advantage for Canadian tech firms is they can generate revenue in the United States while incurring expenses here at home. “It makes our dollar go further and makes these companies healthier than their American counterparts,” says Jim Orlando, managing director of OMERS Ventures. Indeed, produce apps or wireless solutions, or do other quick-turnaround projects for other firms are now at a significant advantage when bidding on contracts. “They’ll be the first one to see a pretty big upswing in their business,” says Steven McCartney, vice-president of startup services at Waterloo-based Communitech.

Even in the event of an acquisition, the startups will likely remain in Canada. Tech firms no longer need to move to Silicon Valley to become successful. “The marquee example of that is Shopify,” says Orlando, citing the popular e-commerce platform, which is based in Ottawa. Other Canadian firms with global reach include Vancouver-based tech companies like Hootsuite, Vision Critical and BuildDirect.

http://www.canadianbusiness.com/innovation/why-the-low-loonie-could-be-great-news-for-canadas-tech-scene/

[bush_cheney2004]

Canadian prime ministers have always begged for more foreign investment...especially more American foreign investment.

[Smallc]

Canadian prime ministers have always begged for more foreign investment...especially more American foreign investment.

And?

[bush_cheney2004]

And?

And that's the way it has been for many decades....."because it's so important to us".

[Smallc]

And that's the way it has been for many decades....."because it's so important to us".

....and?

[bush_cheney2004]

....and?

....and the Investment Canada Act reinforces the shortage of domestic capital and leadership for home grown ventures.

[?Impact]

....and the Investment Canada Act reinforces the shortage of domestic capital and leadership for home grown ventures.

Wow, an act that has been around for 30 years and only once used (in 2008) is a big problem. I suppose that broken traffic light in Flin Flon is also a big problem to foreign investment.

[WestCoastRunner]

Not only is JT seeking foreign investment to help high-tech companies, he has also:

• The federal government has earmarked an extra $2 billion for Canadian universities and colleges over the next three years to help meet the challenges of a changing economy, with the first $500 million available this year.
• The government said it would come up with an “Innovation Agenda” within the next year, creating a roadmap for Canada’s economic future based on its reputation in science and technology, resourceful citizens and global competitiveness.
• The government announced it will spend $2 billion over the next three years on a new Post-Secondary Institutions Strategic Investment Fund to help university and colleges modernize their on-campus research, commercialization and training facilities.
• Ottawa will also invest $800 million over four years to support innovation clusters, such as the Waterloo region, dubbed Silicon Valley North, to encourage networking between business, universities and colleges and government.
• The government will also funnel an additional $95 million a year for research through non-profit granting councils, such as the Natural Sciences and Engineering Research Council. The funds will support research in health, medicine, genomics and stem cell discoveries.
• The government also committed to help small innovative firms “scale up” to further their global competitiveness by better co-ordinating access to key services. No dollars were earmarked.

• Chief economist Doug Porter, with the Bank of Montreal, said it’s not that surprising the government needs more time to develop its innovation strategy.

  “When you consider this government was just elected five months ago, expecting them to turn the economy around on a dime is not realistic,” Porter said.

  “I think the measures taken today were a stop gap; they want to support innovation, but they’re really not ready yet to fully flesh that out.”

  https://www.thestar.com/news/canada/2016/03/22/canadian-universities-colleges-to-get-2-billion-more-to-meet-needs-of-changing-economy.html

A lot of catch-up after Harper and company!

[bush_cheney2004]

The Investment Canada Act is similar to Canada's CRTC....designed to protect Canadian interests...but even more American and other foreign content actually gets in anyway.

[?Impact]

....designed to protect Canadian interests

Are you suggesting that if a foreign company wanted to buy General Dynamics Electric Boat company the US government would let it happen without blinking? I guess you are not familiar with the Committee on Foreign Investment in the United States.

[Smallc]

....and the Investment Canada Act reinforces the shortage of domestic capital and leadership for home grown ventures.

I'm still not seeing any kind of point.

[bush_cheney2004]

Are you suggesting that if a foreign company wanted to buy General Dynamics Electric Boat company the US government would let it happen without blinking? I guess you are not familiar with the Committee on Foreign Investment in the United States.

No, I am suggesting the opposite...that Canada so dearly needs foreign investment that it rarely says no.

[Big Guy]

This is a good example why any discussion of issues gets bogged down by the previous conflicts between posters on this board. Everything becomes your guy vs my guy.

The question is should the Prime Minister of Canada attend the Sun Valley Conference?

Of course he should. He is a chairman of our board and represents Canada wherever he goes. The criteria should be "Can what our PM is doing do good for Canada?". In this case the answer is "Yes".

Edited July 8, 2016 by Big Guy

[bush_cheney2004]

If Trudeau manages to successfully beg for more American investment in Canada, there will surely be another round of books by Canadian authors bemoaning so much American ownership and influence in Canada.

Let's hear it for Maude Barlow ! Go Maude ! Go Maude !