The Funding Source You’re Probably Ignoring
Despite significant investment, many entrepreneurs aren’t using government grants. Their reasons aren’t encouraging
anadian entrepreneurs are leaving money on the table: A new study from PricewaterhouseCoopers (PwC) found that close to half of startups aren’t taking advantage of available government funding.
The news is surprising given the significant investment made by at both the federal and provincial levels to spur growth in Canada’s startup scene. Existing initiatives developed by the federal government include the Industrial Research Assistance Program, the Scientific Research and Experimental Development tax credits, the Northleaf Venture Catalyst Fund and the Small Business Job Credit.
But despite the options available to them, 43% of entrepreneurs responded that finding the right investor remains the biggest challenge facing their startup, while more than half said they haven’t accessed government grants.
Instead, nearly three out of four firms that were successful in obtaining funding...
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