Where is the Seed Corn? Innovation and the Budget - A Suggested Approach
on Sat 17 of Jan., 2009 11:50 EST, by wrichardson_et_al
posts: 1
Congratulations to the Globe & Mail and the Dominion Institute on this very intriguing experiment in public policy formulation.
We believe that this critical economic period provides the opportunity to: 1) significantly increase the quality and number of innovative companies in Canada; 2) significantly increase private sector investment in innovative Canadian companies; and 3) significantly increase foreign private sector investment into innovative Canadian companies. What we need to establish is an innovation insurance premium, or innovation tithe, of around 10% of the upcoming deficit spending.
We believe that the recently created Economic Advisory Council headed by Carole Taylor would be an ideal focal point for reviewing and identifying specific innovation initiatives that could be implemented over the short term and coming years to secure Canada’s future. The members of this Committee comprise individuals who have key innovation skill sets related both to building successful companies and to tax policy.
Wayne Richardson, President, Richardson McCannell Associates
Peter Kemball, Founder & CEO, Acorn Partners
Rodney Semotiuk, President & CEO, ATFCan
January 17, 2009
BIOs:
Wayne Richardson has recently retired after over 31 years of public service with the Governments of Canada and Ontario, including the last 10 years as the director of the $158 million Climate Change Technology Early Action Measures (TEAM) program. TEAM has been instrumental in financing over 135 projects in Canada and internationally, with a total value in excess of $1.3 billion. Under Mr. Richardson’s leadership TEAM helped form the basis for the International Organization for Standards (ISO) greenhouse gas measurement and reporting standards and the recent Voluntary Carbon Standard. During his career in government Mr. Richardson was also involved in designing and implementing Canada’s interdepartmental energy R&D funding program in the 1980’s and the S&T component of the 1990’s Green Plan; he played a key S&T and financing role in the development of Canada’s Radarsat I programme and in east coast offshore oil and gas fields by industry consortiums. Mr. Richardson’s management of government financial and technology partnerships has contributed to the success of many innovative Canadian companies.
Peter Kemball: Prior to founding Acorn Partners, a firm specializing in financing high potential early stage firms in 1993, Mr. Kemball co-founded a financial services firm as well as founding Kemball Fund Management, a Limited Market Dealer specialized in raising funds for early stage firms. This business evolved out of his earlier firm, Practical Concepts Inc., which provided management consulting and policy advice to government and business. Mr. Kemball has also held positions with Coopers and Lybrand in Ottawa and Operations Research Inc. in Washington DC. He was employed by The Treasury Board of the Canadian Federal Government, DuPont of Canada and The Industrial Development Bank (now BDC). Mr. Kemball served as Chairman of the Ottawa Carleton Economic Development Corporation’s (now OCRI) committee on venture capital and as a member of the board of the Innovation Centre at the University of Ottawa. Peter holds an Engineering degree and an MBA from McGill University and a BA from Concordia.
Rodney Semotiuk has over 18 years of experience in technology development and commercialization, including 5 years with ATFCAN, where he is president and CEO. During his 13-year career with Natural Resources Canada, Mr. Semotiuk helped launch R&D funding initiatives for alternative energy technologies, and marketplace programs to support technology adoption. Mr. Semotiuk, through his current work at ATFCAN, focuses on building strategic partnerships between Canadian and foreign business interests, including the transfer of advanced technologies to emerging markets via joint-ventures and supplier relationships. Mr. Semotiuk is also the chairman of Injection Fuel Technologies Pvt. an India-based joint venture company, and is a founding director of the Good Earth Charitable Group, a new Canadian organization designed to support micro-credit linked supply chain projects and promote the transfer of enabling technologies to developing countries.
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Where is the Seed Corn? Innovation and the Budget - A Suggested Approach
We believe that this critical economic period provides the opportunity to: 1) significantly increase the quality and number of innovative companies in Canada; 2) significantly increase private sector investment in innovative Canadian companies; and 3) significantly increase foreign private sector investment into innovative Canadian companies. What we need to establish is an innovation insurance premium, or innovation tithe, of around 10% of the upcoming deficit spending.
We believe that the recently created Economic Advisory Council headed by Carole Taylor would be an ideal focal point for reviewing and identifying specific innovation initiatives that could be implemented over the short term and coming years to secure Canada’s future. The members of this Committee comprise individuals who have key innovation skill sets related both to building successful companies and to tax policy.
Wayne Richardson, President, Richardson McCannell Associates
Peter Kemball, Founder & CEO, Acorn Partners
Rodney Semotiuk, President & CEO, ATFCan
January 17, 2009
BIOs:
Wayne Richardson has recently retired after over 31 years of public service with the Governments of Canada and Ontario, including the last 10 years as the director of the $158 million Climate Change Technology Early Action Measures (TEAM) program. TEAM has been instrumental in financing over 135 projects in Canada and internationally, with a total value in excess of $1.3 billion. Under Mr. Richardson’s leadership TEAM helped form the basis for the International Organization for Standards (ISO) greenhouse gas measurement and reporting standards and the recent Voluntary Carbon Standard. During his career in government Mr. Richardson was also involved in designing and implementing Canada’s interdepartmental energy R&D funding program in the 1980’s and the S&T component of the 1990’s Green Plan; he played a key S&T and financing role in the development of Canada’s Radarsat I programme and in east coast offshore oil and gas fields by industry consortiums. Mr. Richardson’s management of government financial and technology partnerships has contributed to the success of many innovative Canadian companies.
Peter Kemball: Prior to founding Acorn Partners, a firm specializing in financing high potential early stage firms in 1993, Mr. Kemball co-founded a financial services firm as well as founding Kemball Fund Management, a Limited Market Dealer specialized in raising funds for early stage firms. This business evolved out of his earlier firm, Practical Concepts Inc., which provided management consulting and policy advice to government and business. Mr. Kemball has also held positions with Coopers and Lybrand in Ottawa and Operations Research Inc. in Washington DC. He was employed by The Treasury Board of the Canadian Federal Government, DuPont of Canada and The Industrial Development Bank (now BDC). Mr. Kemball served as Chairman of the Ottawa Carleton Economic Development Corporation’s (now OCRI) committee on venture capital and as a member of the board of the Innovation Centre at the University of Ottawa. Peter holds an Engineering degree and an MBA from McGill University and a BA from Concordia.
Rodney Semotiuk has over 18 years of experience in technology development and commercialization, including 5 years with ATFCAN, where he is president and CEO. During his 13-year career with Natural Resources Canada, Mr. Semotiuk helped launch R&D funding initiatives for alternative energy technologies, and marketplace programs to support technology adoption. Mr. Semotiuk, through his current work at ATFCAN, focuses on building strategic partnerships between Canadian and foreign business interests, including the transfer of advanced technologies to emerging markets via joint-ventures and supplier relationships. Mr. Semotiuk is also the chairman of Injection Fuel Technologies Pvt. an India-based joint venture company, and is a founding director of the Good Earth Charitable Group, a new Canadian organization designed to support micro-credit linked supply chain projects and promote the transfer of enabling technologies to developing countries.