By Francis Moran
While the rest of the world is moving like legendary ice-hockey great Wayne Gretzky by reading the play and positioning itself to be “where the puck is headed,” Canada is in danger of being called for delay of game, according to Ottawa-born clean technology guru Nicholas Parker, who was the keynote speaker earlier today at the Ottawa Venture and Technology Summit.
In a speech that emphasised that the shift has undeniably been made from the “save the world” social passion of environmental technology to the multi-trillion-dollar business opportunity of clean technology, Parker told the assembled entrepreneurs and venture capitalists that Canada is ragging the puck in this exciting, fast-moving and potentially immensely profitable game.
In particular, Parker, who co-founded and chairs the Cleantech Group, LLC, faulted Canada for its delay in implementing an effective carbon-trading regime. “At the Cleantech Group, we don’t really care about carbon trading,” he said, referring to a stock market-like system where companies can trade in tonnes of the carbon emissions that are the main cause of global warming and climate change. “What’s important about (carbon) trading is that it sets a price.”
That price, and the expectation that it will rapidly rise, is beginning to unlock the trillions of dollars in global investments in the development of clean technology, with Parker and his peers estimating that 2,500 jobs are created for every $100-million in new investment.
“Are those jobs going to be (created) in Shanghai or Stockholm or Silicon Valley or closer to home,” Parker asked. His answer was painful to hear. “Canada is still trying to decide if we’re going to do this,” he said, referring to the stalled efforts to launch a carbon-trading system in Canada. “Canada is lagging,” he said, and the dollars being directed into clean technology in this country “are drying up.”
The bottom line, according to Parker? “If we don’t develop the technology, we become a branch-plant economy.”
By Linda Forrest
Yesterday, I attended several biotech-focused events that are part of National Biotechnology Week across Canada. In the afternoon, I had the opportunity to attend the Know the Money Life Sciences Financing Seminar featuring speakers from Gowlings, PricewaterhouseCoopers, Royal Bank of Canada, the National Resource Council and the Export Development Bank. Because a number of our clients, both past and present, are in the biotechnology space, it was interesting to learn about the challenges and opportunities that they face when seeking funding, whether through government programs, venture capital or other forms of investment. One point that stood out among the presentations was the fact that in the esteemed panel’s view, it’s the biotech equivalent to “rocket ships and not motor cars that are currently getting investment.”
After the seminar, it was time for Ottawa’s best and brightest life sciences companies and individuals to be honoured at the OCRI Life Sciences Achievement Awards Dinner. There were some fascinating projects and people that were recognized, including Variation Biotechnologies for its work in the creation of intelligent vaccines and Dr. May Griffith, the developer of an artificial cornea for both research and transplantation purposes who has created tremendous scientific success whilst moving labs multiple times, battling cancer and adopting a baby. Bravo! Our entire table was in awe of Dr. Griffith’s achievements in the face of such challenges. Congratulations to all of the winners.
By Linda Forrest
Last night, I attended the launch of the second season of the Young Business Network of the National Capital. This was my first time at an event put on by this organization, as it seems was the case for most of the attendees. It was a good opportunity to network with other young professionals and hear words of wisdom from Adrian Salamunovic from DNA 11, an intriguing company that we were first introduced to when its other co-founder spoke at a Junior Achievement of Eastern Ontario event last year, Kim Dixon from TalkSwitch, a celebrated businesswoman with a long history in Ottawa’s tech community and Kevin Dee, CEO of Eagle Professional Resources and the Ottawa Business Journal‘s CEO of the year in 2006. The theme was “inspiration” and each speaker had valuable insights into what they think are the keys to success. Adrian in particular talked about harnessing the power of public relations and how the coverage that his company has received in top tier publications has had a direct impact on the spectacular growth of his company from inception to 7-figure revenues in under two years. I’m looking forward to other events put on by this organization, of which I’m now a member, and am encouraged to see so many of Ottawa’s bright, talented young people looking to share ideas and network.
By Francis Moran
I heard some terrific counsel last night from serial startup veteran Mahshad Koohgoli at The Ottawa Network’s inaugural Venture Creation Group event of the season. Koohgoli, who helmed Nimcat Networks from launch through to a successful acquisition by Avaya Networks, was the key presenter at what the VCG hopes will be a re-energized forum for the local start-up community. Or, as gracious host LaBarge Weinstein lawyer James Smith put it:
“Our overall objective is to re-energize the VCG by providing a forum for hard, constructive networking among local entrepreneurs and enterprising service providers – facilitating management team formation, in particular – with a view to similarly re-energizing the nature, volume and impact of technology startups in the region. We welcome anyone interested in the same objective, and would be happy to hear from startup founders who would like to participate.”
The new format, sessions of which will be held at LWLaw’s offices in Kanata every second Wednesday starting at 5pm, aims to bring practical advice to entrepreneurs so they can, as Koohgoli more or less put it, “Learn what to do in your first start-up so you can avoid making the same mistakes in your next start-up.” Incidentally, his next start-up, called Protecode, is very much a consequence of some lessons he said Nimcat struggled to learn.
By Danny Sullivan
Still basking in the glory of Scotland’s magnificent victory over France in Paris last week, I found it impossible to begin this post without talking about it. After reflecting on the result, I realised it’s actually more relevant to this blog than I first thought.
Bear with me.
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