<strong>Innovation</strong> <strong>Canada</strong>: A <strong>Call</strong> <strong>to</strong> <strong>Action</strong>ResearchCreate a Commercialization Superfund<strong>to</strong> address key commercializationchallenges. This fund would support largescale,private–public sec<strong>to</strong>r research andtraining partnerships in targeted sec<strong>to</strong>rs,while expanding existing programs andinitiating new ones <strong>to</strong> train highly qualifiedpersonnel (2006a, p. 18).Expand federal programs that supportseed and start-up firms in proving theirbusiness ideas. This would be achieved as afirst step by (i) increasing funding <strong>to</strong>programs such as NSERC’s Idea <strong>to</strong> <strong>Innovation</strong>program, CIHR’s Proof of Principle programand the Industrial Research AssistanceProgram and (ii) providing funds for SSHRC <strong>to</strong>establish a program similar <strong>to</strong> these three inorder <strong>to</strong> encourage, where applicable, thecommercialization of the research it funds.As a second step, funding would grow,based on evidence of success (2006a, p. 19).Increase the commercializationinvolvement of small and medium-sizedenterprises (SMEs), through a CanadianSME Partnerships Initiative. The objectiveof this initiative would be <strong>to</strong> make SMEs moreglobally competitive through two channels:(i) Partnerships Initiative — Research Funding,through which federal science-baseddepartments and agencies would competefor five-year funding for research aboveand beyond their existing budgets and(ii) Canadian SME Partnerships Initiative —Program Support, which would includeefforts such as support for technologyacquisition and R&D partnerships with firmsand research bodies in other countries(2006a, p. 21).CapitalImprove access <strong>to</strong> early-stage angelfinancing and expertise. This would beachieved through two initiatives: (i) FundingExcellence in Building Angel Inves<strong>to</strong>rNetworks, which would develop angelinves<strong>to</strong>r networks and enhance thesupport they provide <strong>to</strong> early-stage firmsthrough a competitive process <strong>to</strong> fundnon-governmental organizations thatmobilize the resources within communitiesand (ii) a New Angel Inves<strong>to</strong>r Co-InvestmentFund Program that would establishcommunity based funds, capitalized by thefederal government, which would investalongside angel inves<strong>to</strong>rs in seed and start-upcompanies (2006a, p. 24).Review the expansion-stage venturecapital market in <strong>Canada</strong>. This would beaccomplished by launching a comprehensivereview, potentially with the involvement ofthe provinces and terri<strong>to</strong>ries, “of policies,programs and other fac<strong>to</strong>rs influencing therole of the venture capital markets oncompanies during their expansion stage. Thisreview would involve the venture capitalcommunity and include assessing currentinitiatives and capital supply and demandconsiderations, including fac<strong>to</strong>rs for firmsseeking financing” (2006a, p. 26).Remove barriers <strong>to</strong> foreign venturecapital investment. This would be achievedthrough the following measures: “eliminatethe withholding tax on capital gains made byforeign inves<strong>to</strong>rs in the equity of privateCanadian companies; cover limited liabilitycorporations that are venture capital funds orprivate investment funds under <strong>Canada</strong>’sincome tax treaties and exclude them fromwithholding tax; extend rollover provisions <strong>to</strong>cross-border mergers, allowing companies <strong>to</strong>get access <strong>to</strong> strategic partnerships withforeign companies without triggeringtaxation; and eliminate the requirement fornon-Canadian inves<strong>to</strong>rs <strong>to</strong> file a Canadianincome tax return” (2006a, p. 27).A-8
Biographies of Panel MembersAnnexBiographies ofPanel MembersCThomas JenkinsP. Thomas Jenkins is executive chairman andchief strategy officer of Open Text Corporationof Waterloo, Ontario, the largest independentsoftware company in <strong>Canada</strong>. He has served asa direc<strong>to</strong>r of Open Text since 1994 and as itschairman since 1998. From 1994 <strong>to</strong> present,Mr. Jenkins was president and then chiefexecutive officer and then chief strategy officerof Open Text. Mr. Jenkins has also held severalexecutive positions with DALSA Inc., anelectronic imaging manufacturer based inWaterloo, Ontario. Prior <strong>to</strong> these positions,Mr. Jenkins was employed in technical andmanagerial capacities at a variety of informationtechnology-based companies in <strong>Canada</strong>.In addition <strong>to</strong> his Open Text responsibilities,Mr. Jenkins is the chair of the federal centre ofexcellence Canadian Digital Media Network(CDMN). He is also an appointed member ofthe Social Sciences and Humanities ResearchCouncil of <strong>Canada</strong> (SSHRC), past appointedmember of the Government of <strong>Canada</strong>’sCompetition Policy Review Panel, whichreported in June 2008, and past appointedmember of the Ontario CommercializationNetwork Review Committee (OCN), whichreported in February 2009. Mr. Jenkins is alsoa member of the board of BMC Software, Inc.,a software corporation based in Hous<strong>to</strong>n, Texas.He is also a member of the University ofWaterloo Engineering Dean’s Advisory Council,a direc<strong>to</strong>r of the C. D. Howe Institute, a direc<strong>to</strong>rof the Canadian International Council (CIC) anda direc<strong>to</strong>r of the Canadian Council of ChiefExecutives (CCCE).Mr. Jenkins received an MBA inentrepreneurship and technology managementfrom Schulich School of Business at YorkUniversity, an M.A.Sc. in electrical engineeringfrom the University of Toron<strong>to</strong> and a B.Eng.& Mgt. in engineering physics and commercefrom McMaster University.Bev DahlbyDr. Bev Dahlby is a professor and fellow at theInstitute for Public Economics at the Universityof Alberta.Dr. Dahlby has published extensively on taxpolicy and fiscal federalism. Dr. Dahlby’s book,The Marginal Cost of Public Funds: Theory andApplications, was published by MIT Press in2008. In 1998–1999, he held a Mc<strong>Call</strong>aResearch Professorship at the University ofAlberta. He has been a visiting scholar at theEconomic Policy Research Unit at the Universityof Copenhagen, the Australian Taxation StudiesProgram at the University of New South Wales,the Graduate School of Economics at GetulioVargas Foundation in Rio de Janeiro, theDepartment of Public Economics at theUniversity of Innsbruck, and the Department ofEconomics at Marburg University. He has servedas a policy adviser <strong>to</strong> the federal and provincialgovernments in <strong>Canada</strong> on the reform ofbusiness taxation, the fiscal equalizationA-9