Ottawa’s Venture Capital Fair brings investors to Canada’s hottest high-tech marketplace

Ottawa, October 25—Representatives from venture capital firms from across Canada and the United States took part in the fifth annual Ottawa Venture Capital Fair today at the Fairmount Chateau Laurier Hotel.

The Fair, organized by OCRI’s Entrepreneurship Centre, showcased investment opportunities in the city’s burgeoning high-tech sector. Twenty-three local start-up firms with expertise in the areas of photonics, semiconductor and broadband telecommunications technologies exhibited at the event. The companies have the potential to generate $50 million in sales within the next five years.

Minister of Foreign Affairs John Manley opened the Fair, citing Ottawa as the country’s hottest investment marketplace and one of the most promising growth centres on the continent.

“Last year, Ottawa-based companies attracted nearly one-quarter of the total venture capital invested in Canada,” said Manley. “In Ottawa, innovation and entrepreneurship are the driving forces behind this city’s start-up companies. Our wealth of intellectual capital is helping to generate very significant levels of investment. I see that as a reassuring sign that investors in both Canada and the United States continue to have confidence in our ability to generate wealth.”

Last year, local companies attracted more than $1.3 billion in investments, $800 million of which involved a U.S.-based investor. In the first three-quarters of this year, investments in local firms have totaled some $814 million.

Claude Haw, speaking on behalf of the Canadian-based venture capital firm Venture Coaches, said the Ottawa market offers investors a gold mine of opportunities.

"Ottawa has an impressive track record of building strong global companies and continues to be a hotbed of start-up activity", he said. "There are literally dozens of success stories in the region, many of which have the potential to offer significant investment returns over both the short and long term. Venture Coaches is proud to be sponsors of the Fair which showcases the best technology opportunities to investors attending from here and around the world".