Earlier this week the Premier’s Technology Council (PTC) released its 13th report which focuses on issues of venture capital, on applying clean-energy technology and on the delivery of the government’s innovation programming.
The Premier’s Technology Council was established in August 2001 to advise the government on issues related to the advancement and application of technology in BC.
The following were among the PTC’s recommendations to government on Venture Capital:
- Working with the federal government to expand Scientific Research and Experimental Development (SRED) tax credits and to seek greater federal participation in B.C. VCC programming.
- Continuing the venture capital programs to ensure predictable, long term capital flow.
- Maintaining the BC Renaissance Capital Fund, allowing it a continued supply of capital.
- Including aspects of venture capital management in the eligible activities of the BC International Financial Centre.
The report points out that Angel investing is an area of particular strength in BC’s venture capital sector. From 2003 – 2008, angel investment in BC increased from $39.6 million to over $69.3 million and represents more than 50% of the invested capital in BC.
To view the 13th report visit http://www.gov.bc.ca/premier/attachments/PTC_13th_report.pdf.