Testimonial - Collect and embed testimonials in minutes

Hon. John P. Manley

John Manley served as a Liberal cabinet minister for 16 years, including as Deputy Prime Minister, and Minister of Finance, Industry, and Foreign Affairs. After 9/11, he negotiated a border security agreement with the United States that preserved vital trade ties, earning him TIME Canada’s Newsmaker of the Year in 2001. A long-time advocate for Canadian technology and innovation, he later led the Business Council of Canada and served on multiple corporate boards. He is currently Chair of Jefferies Securities Inc.

Supporting our technology sector through measures like FTS is not just about innovation — it is about securing long-term economic strength and national resilience.

Canada once again faces a moment of economic vulnerability — reminiscent of the period after 9/11, when our largest trading partner considered closing its border to Canadian goods. But today’s challenges are different, and negotiating with the current U.S. administration will not mirror the experience of 24 years ago.

In this environment, Canada must focus on what it can control: strengthening its competitiveness, attracting private investment, and building greater resilience against external trade pressures.

One practical and proven step would be to extend Flow-Through Shares (FTS) to the technology sector — a tool that has successfully driven investment in Canada’s resource industries for decades. Applying it to tech would help channel private capital into early-stage innovation, ensuring that Canadian talent and intellectual property can grow and stay here.

This is a pivotal moment for Canada. Supporting our technology sector through measures like FTS is not just about innovation — it is about securing long-term economic strength and national resilience.

Oct 9, 2025

Terry Matthews

Chairman of Wesley Clover International- Sir Terry Matthews has been a leader of Canada’s tech community for more than 50 years.. He is the founder and Chairman of Wesley Clover International, a global investment management firm and holding company. Since 1972, Terry has founded or funded more than 100 companies. Mitel and Newbridge two success stories that made him a billionaire. He has been a long and active voice of support for the technology sector.

(FTS) works well ... An effective program that would be a huge assist to tech startups.

My business career was built on being an entrepreneur, from starting Mitel in 1982 with Mike Cowpland to Newbridge and more than 100+ other companies that I have started and gained success globally. At this time there are about twenty new Tech companies I am involved with starting every year.

I know how important new companies are to building success for Canada, providing opportunities for young people and driving exports.

I also know that the Flow Through Shares program (FTS) works well. An effective program that would be a huge assist to tech startups. Putting FTS as an official policy of the Liberal Government encourages me to think that this investment incentive for tech will soon become a reality.

That would be a win for Canada at an important time for growth of the tech sector and for our economy.

Apr 22, 2025

Paul Labarge

Founding Partner, LaBarge Weinstein

Canada does not lack for talented and energetic entrepreneurs. It does lack a mechanism to encourage direct investment by Canadians in their homegrown enterprises. The challenge has existed for decades and government control funding is not the answer. Investors who take the financial risk should be the ones determining who the winners and losers are in the chase for investment capital. For too long, Canada has facilitated the exploitation of its homegrown talent by foreign investors – most particularly US VCs. It is incumbent upon the next government to eliminate the detour of funding through the machinery of government and allow and encourage Canadians to invest in their Canada so that we all become interested investors and committed supporters of homegrown enterprises. We have the talent, we have the skills, we have the knowledge and we have the people – now let's give them access to the capital they need to be a success.

Mar 31, 2025

Peter Nicholson Jr. is recognized as a Canadian leader in tax assisted investment built around FTS and his specialty is gaining benefits for charities including the use of FTS generating $350 million for various charities.

Founder and President of Wealth ( WCPD Inc.)

The Structured Flow-Through Share model has truly been a remarkable success story in Canada.

The Structured Flow-Through Share model has truly been a remarkable success story in Canada. Ever since our firm performed the first transaction in 2006, this structure has been a trusted and effective method to raise capital for mining exploration in Canada.

Billions have been generated for this industry, along with billions more for Canadian charities, not to mention hundreds of thousands of high-paying jobs.

While the details must be worked out, the model is there to supercharge our technology sector. It has never been more important to use the Canadian tax code as a means of driving innovation and capital into the industries that need it.

Apr 14, 2025

MA

Mike Amos

Founder, CEO, Advisor and Investor

I founded a Canadian software company in Mississauga back in 2002. Over 11 years, we raised $500K (CDN) in angel funding, $9.6M in venture capital from JMI Equity, and $9.2M in debt from SVB and BDC. We did not use any material amount government funding, as we preferred to complete sales calls instead of filling out funding applications. We scaled to a team of 180 people with offices in Canada (110), the UK (60), and the US. In 2013, we sold to a competitor who has since grown to over 2,000 employees. Since that exit, I’ve stayed active in the startup ecosystem. I’ve worked as an Entrepreneur-in-Residence (EIR) with MaRS, VentureLab, and Launch Lab. I’ve also run an angel network (KNDL) and invested privately in a range of startups, both directly and as an LP (with Mistral). All of this gives me a pretty solid perspective on early-stage investing and tech development in Canada—and to be honest, our system is broken. Here’s what’s not working: Government programs/staff that pick winners and losers through grants, loans, and investments. Founders getting grants and tax credits with no warrants attached, leading to early exits where the IP gets shipped out of the country—with little long-term value left behind. This disproportionately puts the risk on the taxpayer and the benefit on the few founders. Angel investors getting little incentive to take on big risks that don’t compare well to the after-tax returns in other asset classes. Having been in the trenches—as a founder, investor, and advisor—I can say without hesitation that early-stage, IP-driven startups are high-risk. And angel investors are crucial to improving the odds of success. They bring more than just money—they offer experience, perspective, and encouragement that helps shape the next generation of entrepreneurs. But right now, Canada is under-supporting angel investors. Without proper incentives or risk-adjusted, post-tax returns, fewer people are going to enter this asset class. That’s a problem. If we want to build the next wave of high-growth Canadian companies, we need to take a hard look at how we support startups, investors, and the ecosystems that surround them. We should be benchmarking against global leaders like the U.S., Israel, Scandinavia, and South Korea—and building a framework that works for us. One smart move? Adopting flow-through tax credits to encourage more angel investment. It’s a solid first step in the right direction.

MA

Mike Amos

Founder, CEO, Advisor and Investor

I founded a Canadian software company in Mississauga back in 2002. Over 11 years, we raised $500K (CDN) in angel funding, $9.6M in venture capital from JMI Equity, and $9.2M in debt from SVB and BDC. We did not use any material amount government funding, as we preferred to complete sales calls instead of filling out funding applications. We scaled to a team of 180 people with offices in Canada (110), the UK (60), and the US. In 2013, we sold to a competitor who has since grown to over 2,000 employees. Since that exit, I’ve stayed active in the startup ecosystem. I’ve worked as an Entrepreneur-in-Residence (EIR) with MaRS, VentureLab, and Launch Lab. I’ve also run an angel network (KNDL) and invested privately in a range of startups, both directly and as an LP (with Mistral). All of this gives me a pretty solid perspective on early-stage investing and tech development in Canada—and to be honest, our system is broken. Here’s what’s not working: Government programs/staff that pick winners and losers through grants, loans, and investments. Founders getting grants and tax credits with no warrants attached, leading to early exits where the IP gets shipped out of the country—with little long-term value left behind. This disproportionately puts the risk on the taxpayer and the benefit on the few founders. Angel investors getting little incentive to take on big risks that don’t compare well to the after-tax returns in other asset classes. Having been in the trenches—as a founder, investor, and advisor—I can say without hesitation that early-stage, IP-driven startups are high-risk. And angel investors are crucial to improving the odds of success. They bring more than just money—they offer experience, perspective, and encouragement that helps shape the next generation of entrepreneurs. But right now, Canada is under-supporting angel investors. Without proper incentives or risk-adjusted, post-tax returns, fewer people are going to enter this asset class. That’s a problem. If we want to build the next wave of high-growth Canadian companies, we need to take a hard look at how we support startups, investors, and the ecosystems that surround them. We should be benchmarking against global leaders like the U.S., Israel, Scandinavia, and South Korea—and building a framework that works for us. One smart move? Adopting flow-through tax credits to encourage more angel investment. It’s a solid first step in the right direction.

Apr 7, 2025

Apr 7, 2025

KR

Kim Rowe

RoweBots Research Inc.

Dear Sir; I've spent the last 2 years seeking funding for my company that produces medical devices to monitor seniors aging in their homes without success. Due to the lack of exits in the USA and world markets, venture financing is unavailable. We have invested in excess of $2M CAD in this world leading technology for continuous remote patient monitoring. Funding is critical to continuing this work that can lead to hundreds of jobs and tens of millions or more in revenue for Canada. And I am not alone seeking funding - many colleagues share my dilemma. Canadian investors are very cautious in comparison to others - we need a flow through shares program to encourage investment in riskier start up ventures. I've not see the tax analysis implications and having this done in detail is critical to moving ahead; however, with appropriate analysis, and assuming the administration costs are reasonable, I would strongly support such a program. Canadian r&D companies need cash and without it, tech like ours will be sold off shore to the Americans or Chinese that have the funding to commercialize it with the jobs and revenue going with it. Sincerely Kim Rowe, CEO, Home Health Systems

Apr 7, 2025

GB

Graeme Barlow

Graeme Barlow started his first tech firm at age 10 and sold it at age 17. He has continued as a serial entrepreneur launching, scaling and exiting several firms for seven figure sales. He is now based in Vancouver as CEO of Iversoft, a software firm that custom designs mobile-first software to help companies operate more efficiently. Barlow coaches and advises companies to guide them too profitable and sustainable growth.

extend Flow-Through Shares to Canada’s tech companies, it just makes sense.

My entire career has been about founding and growing companies. What I have learned over my 20+ years in business I now share with other business leaders to help them scale their companies. I know what it takes from day one to be successful. I certainly know that gaining the necessary capital funding is crucial. So I would certainly champion a move to extend Flow-Through Shares to Canada’s tech companies, it just makes sense. Take a well tested incentive program for investors and help grow Canada’s tech companies

Sep 16, 2025

CG

Cindy Gordon

Dr. Cindy Gordon is CEO and Founder of Toronto based SalesChoice Inc. The company is an award winning leader in AI SaaS and AI Services. She is recognized as a global leader in using AI and other leading technologies to drive digital transformation and new ways of ways of working. Dr. Gordon has held senior roles at Accenture, XDLI, Xerox, Citicorp, and Nortel Networks. She is a Forbes AI thought leader and is the author of 16 books, including the recent AI Dilemma. She is also a certified board director ICD.D, as well as a board advisor to the USA AI Institute, the AI Forum, and early stage AI firms, including Corent Technologies, Kajj, and Tallywell. She also teaches AI, Ethics and Law at George Brown College.

Canada must support its next generation of success stories

When I learned that the Carney government had made a promise to enable AI companies (and other tech firms) to use Flow-Through Shares (FTS) as a financial incentive, I was very pleased for two reasons. One, political leaders were recognizing the leading role of Artificial Intelligence and secondly, recognizing the value of bringing a new financing option for Canadian tech firms. My company, SalesChoice Inc. successfully competes on the global stage and I know the special challenges that early stage companies face. Canada must support its next generation of success stories and FTS is one way to provide effective support.

Sep 17, 2025

ES

Eric Samure

Eric Saumure is a Chartered Professional Accountant and the co-founder of Zenbooks, an Ottawa-based accounting firm he launched in 2015. Zenbooks has grown into one of Canada’s fastest-growing accounting firms, recognized by the Globe and Mail.He is also the host of Small Business, Big Insights, one of Canada’s top five business podcasts. In 2024, Eric was named one of Ottawa’s Top 40 Under 40 business leaders, and his work has been featured by CTV, CBC, the Globe and Mail, and The Canadian Press.

This policy would create meaningful advantages for companies, investors, and the Canadian economy.

As a Chartered Professional Accountant, I was already aware of Flow-Through Shares as an investment incentive. But when I hosted the co-founders of the campaign to extend FTS to the tech sector on my podcast, they opened my eyes to the enormous potential benefits. This policy would create meaningful advantages for companies, investors, and the Canadian economy. It is a forward-thinking move by government, and one that Canada needs in these changing times. It would be incredible to see this initiative, alongside my campaign to bring Open Banking to Canada, put into action. What a powerful one-two boost that would be for the country.

Sep 10, 2025

MS

Mark Sutcliffe

Mark Sutcliffe was elected Mayor of Ottawa in October of 2022. He has lived his whole life in Ottawa. Prior to entering municipal politics, Mark was an award-winning journalist, entrepreneur, volunteer, and community activist. For over 30 years, Mark covered politics and current events as a broadcaster for CFRA, CityNews, Rogers TV, and CPAC, and as executive editor and columnist for the Ottawa Citizen. Mark started his first business when he was 19 years old. He co-founded the Ottawa Business Journal in 1995 and founded several other small and medium-sized businesses. He has been a mentor, and adviser to more than one hundred CEOs, entrepreneurs, small-business owners, and not-for-profit leaders.

Canada needs bold ideas, bold actions and leadership at all levels. FTS fits Canada's needs

As Mayor of Ottawa part of my job is to seek out and support ideas that will benefit my city. Ideas that can help us in these challenging times. One such idea is extending Flow-Through Shares (FTS) to tech companies. I believe this investment incentive tool would help fund more good ideas and jobs from Ottawa’s large technology sector, which accounts for more than $14 Billion of Canada’s GDP. Canada needs bold ideas, bold actions and leadership at all levels. FTS fits Canada's needs

Aug 27, 2025

AT

Alex Tapscott

Alex Tapscott of Toronto is an entrepreneur, business author, and seasoned capital markets professional focused on the impact of emerging technologies on business, culture and society. He is the author or coauthor of multiple best selling books, includuingWeb3 and Blockchain Revolution (co-authored with Don Tapscott). He is also a Portfolio Manager and Managing Director at Ninepoint Partners, one of Canada’s leading investment firms, with more than $7 billion in assets under management and institutional contract. Alex co-founded the Blockchain Research Institute with his father, Don Tapscott.

We support any effort to accelerate Canadian innovation and new business formation.

For decades, flow-through-shares (FTS) have been a key source of growth capital to Canada's mining and energy exploration sectors. Ninepoint Partners is a leading manager of Flow-Through Funds in Canada, and we believe that today's innovation economy presents a fresh opportunity to apply this well-known and proven tool to fund early stage companies in blockchain, AI and other industries of the future, underwriting future Canadian prosperity. The Liberal government agrees, having added FTS to their innovation platform during the election. We support any effort to accelerate Canadian innovation and new business formation.

May 22, 2025

BH

Bill Hutchison

For more than 40 years Bill Hutchison has been deeply involved as advisor and leader in technology issues around the globe. He was the Founding Chair or Founding Director of 14 industry and social service organizations including the CANARIE network and the National Advisory Board for Science and Technology. He served as Managing Partner for IT Consulting with Ernst and Young. He was Executive Director, Intelligent Communities with the $34 billion Waterfront Toronto, one of the world’s largest urban revitalization and technology projects.

FTS for tech is a bold move!

After nearly five decades of working in the technology sector I am fully aware that money drives innovation and success. So to see the Carney government prepared to extend Flow-Through Shares to tech firms is great news. It only makes sense to apply an investment incentive to a part of the economy that generates over a million jobs and more than $C125 Billion in GDP. Now, more than ever, Canadians need to support their own economy. Government needs to apply bold initiatives and while FTS for tech is a bold move this is a well proven method of assisting early stage companies in other sectors. It is time to move on FTS.

Jul 30, 2025

MT

Michael Turner

Advisor, Board Member, Tech Evangelist

For years we watched as Canadian mining companies prospered. Not just because of Canada’s bountiful and valuable mineral deposits. Not just because Canada developed many of the world’s best mining engineers and technologists, but because Canadian mining companies also became among the world’s most successful in attracting investment. And much of that success has been due to Canada’s ‘Flow-through-Shares’ model. More recently, the FTS concept was extended successfully to renewable energy development and conservation companies. Research & Development of new technology products and solutions needs a Boost if we are going to prosper in the new knowledge economy. Time to extend Flow-Through-Shares financing to our Tech sector as well. It's not difficult to do and an already well proven model. The Liberals have now ‘Sen the Light’. Let’s ensure they or the Conservatives also feel the pressure if they’re elected.

Apr 28, 2025

AP

Andrew Pery

Advisor AI Ethics and Governance @Law+Data

A powerful incentive to foster a culture of innovation in Canada

Having spent 30 + years in the high-tech industry and as an angel investor in innovative startups both in the US and Canada I found that the only impediment to success for early-stage Canadian companies is the lack of sufficient investment capital to accelerate growth.

There is an enormous pool of talent in Canada that US-based high-tech companies successfully recruit largely due to availability of venture capital. It is about time that we re-shore our high-tech innovators back to Canada. As was pointed out by MaRS Discovery District. “Canadian climate tech ventures lack funding at the critical pre-seed and seed stages and this represents a “formidable” funding gap to commercialization.”

Extending FTS to the high-tech sector makes eminent sense. It offers a powerful incentive to foster a culture of innovation in Canada and thereby achieve sustainable competitive advantages on a global scale.

Apr 11, 2025

DW

David Watson

Co-Founder

The current trade war woke us all up to the fact that it was easier to move goods North/South than East/West. This is a great initiative to power the next generation of not only tech projects/companies but it could/should be adapted with projects/companies to change the flow of goods primarily from North/South to be East/West benefiting Canadians. This well proven funding model could be used to fund those projects that would make Canada more self sufficient, sustainable and defend-able by creating an East/West transportation corridor, double track the rail roads moving goods easily/reliably without single track bottle necks, build an East/West hydro/gas transmission/pipe line. The energy/goods that went south could/should be used to build hydroponic/aquaponic green houses to feed people and build houses for shelter all year long to end the dependency on North/South trade. I think we really need to push this initiative, adapt it to more sectors and benefit all Canadians with the wealth/innovation created .

Apr 11, 2025

Suzanne Grant

Investment Ecosystem Leader

Canada has the potential for growth and wealth, returning our people to a future of hope. Providing an environment for ambition, creativity and for talent to thrive, and leading with a vision for, and a culture of entrepreneurship are essential. To get lift off and scale future opportunities - investment is foundational. An environment incentivizing Canadians to invest in Canada is critical. When the Capital Gains Tax changes were announced one year ago, I saw an immediate stalling of investment at the angel investor level. The message received was that our leaders gave up and no longer had a vision for a propserous nation. It seemed Canadians placing high risk investment into their local startups (vice US Stock market) were being penalised. Incentivising #InvestingCanadian by derisking exposure can go far to support a Canada where people have hope for a future where they see their drive, creativity and themselves thriving. Let's keep our best at home and not drive them south of the border because they can't find capital in Canada. FTS can incentivise investment into the future economy.

Mar 31, 2025

AP

Avril Phillip

A. Phillip Consulting

The U.S. government's implementation of significant tariffs has disrupted international trade dynamics, escalated production costs, and increased economic uncertainties for Canada. This situation is particularly harmful to the technology sector, vital for the country's future economic growth. Historically, Canada has leaned more towards consuming technology rather than producing it, reinforcing our dependence on natural resources. While global tech companies are increasingly setting up operations in Canada, the benefits of this trend are relatively limited compared to the vast potential that nurturing domestic innovations can unlock. This reliance on external technology presents considerable risks. The dominance of a few major companies can hinder innovation and threaten Canada's economic sovereignty. To address this, it is critical to focus on strengthening our domestic technology sector to achieve sustainable growth. One effective strategy could be to expand tax incentives, such as broadening the Mineral Exploration Tax Credit (METC) to encompass other high-tech industries. This approach could encourage investment in local startups, enhancing their capacity for innovation and competitiveness. Currently, Canada stands at a critical juncture to bolster its advanced technology sectors amid ongoing trade disputes and supply chain disruptions. Thanks to our abundant resources, skilled workforce, and robust infrastructure, we are well-equipped for growth. In addition, expanding international partnerships in semiconductor research, quantum computing, artificial intelligence, and biotechnology could elevate Canada's reputation as a reliable global collaborator. Cities like Toronto, Vancouver, Montreal, Ottawa, Waterloo, and Edmonton, with their strong educational frameworks and expertise in AI and software engineering, are ideally positioned to attract investments and stimulate technological innovation. To capitalize on these opportunities, Canada should invest in infrastructure that supports innovation, enhance tax incentives for tech startups, and strengthen protections for intellectual property. By pursuing these initiatives, Canada can aspire to become a leading player in the global technology landscape while diversifying its export markets to boost economic resilience. The present moment presents Canada with an exceptional opportunity to realize our potential and establish ourselves as a formidable technological powerhouse.

AP

Avril Phillip

A. Phillip Consulting

The U.S. government's implementation of significant tariffs has disrupted international trade dynamics, escalated production costs, and increased economic uncertainties for Canada. This situation is particularly harmful to the technology sector, vital for the country's future economic growth. Historically, Canada has leaned more towards consuming technology rather than producing it, reinforcing our dependence on natural resources. While global tech companies are increasingly setting up operations in Canada, the benefits of this trend are relatively limited compared to the vast potential that nurturing domestic innovations can unlock. This reliance on external technology presents considerable risks. The dominance of a few major companies can hinder innovation and threaten Canada's economic sovereignty. To address this, it is critical to focus on strengthening our domestic technology sector to achieve sustainable growth. One effective strategy could be to expand tax incentives, such as broadening the Mineral Exploration Tax Credit (METC) to encompass other high-tech industries. This approach could encourage investment in local startups, enhancing their capacity for innovation and competitiveness. Currently, Canada stands at a critical juncture to bolster its advanced technology sectors amid ongoing trade disputes and supply chain disruptions. Thanks to our abundant resources, skilled workforce, and robust infrastructure, we are well-equipped for growth. In addition, expanding international partnerships in semiconductor research, quantum computing, artificial intelligence, and biotechnology could elevate Canada's reputation as a reliable global collaborator. Cities like Toronto, Vancouver, Montreal, Ottawa, Waterloo, and Edmonton, with their strong educational frameworks and expertise in AI and software engineering, are ideally positioned to attract investments and stimulate technological innovation. To capitalize on these opportunities, Canada should invest in infrastructure that supports innovation, enhance tax incentives for tech startups, and strengthen protections for intellectual property. By pursuing these initiatives, Canada can aspire to become a leading player in the global technology landscape while diversifying its export markets to boost economic resilience. The present moment presents Canada with an exceptional opportunity to realize our potential and establish ourselves as a formidable technological powerhouse.

Apr 7, 2025

Apr 7, 2025