%0 Journal Article %J Technology Innovation Management Review %D 2013 %T Addressing Canada's Commercialization Crisis and Shortage of Venture Capital: Will the Federal Government’s Solution Work? %A Stephen A. Hurwitz %K 2013 Venture Capital Action Plan %K Canada %K commercialization %K labour-sponsored venture capital corporations %K VC %K venture capital %X Lack of funding is a major challenge to innovation in Canada’s emerging technology industry. This article will focus on this supply-side challenge within the complex venture capital ecosystem and discuss: i) the current shortage of venture capital available to commercialize Canada’s R&D; ii) the causes and consequences of that venture capital shortage; iii) how the federal government will address this shortage through its innovative 2013 Venture Capital Action Plan, which commits $400 million and seeks to raise at least another $800 million from outside investors; and iv) how a separate decision in the federal 2013 budget to phase out federal tax credits for labour-sponsored venture capital funds could imperil the 2013 Venture Capital Action Plan. %B Technology Innovation Management Review %I Talent First Network %C Ottawa %V 3 %P 26-31 %8 09/2013 %G eng %U http://timreview.ca/article/725 %N 9 %1 Choate, Hall & Stewart LLP Stephen Hurwitz is a partner at the Boston-based law firm of Choate, Hall & Stewart LLP, specializing in Canada-US cross-border transactions involving venture capital and private equity and technology and life sciences companies. He has served as a speaker/panelist at many of the venture capital, technology, and life sciences conferences in Canada and is author of numerous published articles on the Canadian venture capital ecosystem. He has also served as visiting lecturer on venture capital and emerging technology company issues at the MIT Sloan Entrepreneurship Development Program, Harvard Business School, and Harvard Law School. He is co-founder of the non-profit Quebec City Conference, an annual by-invitation only international gathering of leading venture capital, private equity, and institutional investors. Mr. Hurwitz received an A.B. from Cornell University and a J.D. from Cornell Law School. %R http://doi.org/10.22215/timreview/725