TMX Group has launched a new independent working group, named the Advancing Innovation Roundtable, which will look to examine and facilitate ways to increase access to growth capital for groups across Canada’s innovation economy, according to a group statement.
The Advancing Innovation Roundtable is targeting a September 2016 start date, with initial topics of focus being scalability issues shared by an assortment of Canadian technology and innovation firms. Additionally the group will explore the ramifications of insufficient growth funding beyond the initial seed and start-up stages.
FXTM Appoints Marcelo Spina as Global Head of PartnershipsGo to article >>
One of its main goals will be to publish and deliver a comprehensive of actionable recommendations in early 2017, emphasizing the successful scaling of globally competitive enterprises in such sectors as technology, clean technology, life sciences and advanced manufacturing, among others.
The composition will include senior leaders from the Canadian investment community, including pension plan groups, banks, endowments, venture capital firms and private equity funds – the group itself will be chaired by Salil Munjal, General Partner at Yaletown Partners, a private investment firm focused on financing growth-stage technology companies
According to Lou Eccleston, Chief Executive Officer (CEO), TMX Group, in a recent statement on the Roundtable formation: “TMX is focused on powering the development of an innovation economy in Canada. Canadian capital markets are vital to helping entrepreneurs through the crucial start-up phase, but also later in the financing chain as their companies scale up to become market leaders.”
“The Roundtable recommendations will help accelerate the growth of Canadian businesses and better position Canada’s economy for high-quality economic development and job creation. Salil’s experience in both the private and public markets as a leading investor and successful business leader positions him well to help guide the Roundtable,” he added.