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2013 Report on emerging Canadian technology companies

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money or not Majority of CEOs of emerging Canadian technology companies not yet ready to raise capital. 46% 33% 21% Did not expect to raise capital Raised capital Did not raise capital Where the money comes from 2013 Report Funding on emerging Canadian technology companies www.pwc.com/ca/v2r Friends and family continue to be the primary source of funding for survey respondents (64%), while 16% said they reached out to angel investors, and just 9% turned to venture capital. When it comes to raising capital, almost half of respondents (46%) reported not having a need to raise funds in 2012. Of those, 40% said their product or solution wasn't ready for investor attention, while another 12% reported a lack of available funding in the Canadian marketplace. Reasons for not raising capital 40% 32% Too early to attract investors Did not want to dilute/not interested 12% Lack of available funding in the marketplace 2013 Report on emerging Canadian technology companies www.pwc.com/ca/v2r Sources for raising capital 44% From angel investors 5% From US VCs 18% From Canadian VCs 12 2013 Report on emerging Canadian technology companies: A CEO perspective Among companies who did raise capital last year, 95% reported the total as being below $2 million, with the bulk (73%) raising less than $500 thousand Angel investors and venture capitalists were by far the biggest source of capital investment, at 44% and 23% respectively.

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