Economic Development Strategy   The Entrepreneurial Foundation of Saskatchewan  & Saskatchewan Entrepreneurial Fund
Economic Development <ul><li>The process by which public, business and non-governmental sector partners work collectively ...
Central’s Economic Development Philosophy <ul><li>Private Sector Driven </li></ul><ul><ul><li>Mobilize private sector  </l...
Current Environment <ul><li>Venture Capital Investment Categories   </li></ul><ul><li>Small Capital:  <$1,000,000 to new o...
Investment Gaps <ul><li>Stages: </li></ul><ul><li>   Research and development </li></ul><ul><li>   Pre-commercialization...
Proposed Framework <ul><li>Entrepreneurial Foundation (not-for-profit) </li></ul><ul><ul><li>Advisory service for entrepre...
Proposed Foundation and Fund Structures Entrepreneurial Foundation advisory role to applicants Adjudication Board  Makes r...
The Role for Credit Unions <ul><li>Provide link between local entrepreneurs and Foundation </li></ul><ul><li>Provide commu...
Entrepreneurial Foundation Board of Directors <ul><li>Chairperson - Keith Brown, President and CEO Trailtech Inc. </li></u...
Entrepreneurial Foundation Board of Directors <ul><li>Ray Ahanekew – Acting President, SIIT </li></ul><ul><li>Doug Gill – ...
Entrepreneurial Fund <ul><li>Model consistent with traditional venture capital structures </li></ul><ul><li>PFM Capital In...
Current Status <ul><li>Foundation and the Fund publicly launched Nov 9, 2005. </li></ul><ul><li>Foundation CEO is in place...
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Gary Pearce

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Gary Pearce

  1. 1. Economic Development Strategy The Entrepreneurial Foundation of Saskatchewan & Saskatchewan Entrepreneurial Fund
  2. 2. Economic Development <ul><li>The process by which public, business and non-governmental sector partners work collectively to create better conditions for economic growth and employment generation. </li></ul>
  3. 3. Central’s Economic Development Philosophy <ul><li>Private Sector Driven </li></ul><ul><ul><li>Mobilize private sector </li></ul></ul><ul><ul><li>Support from public sector partners </li></ul></ul><ul><li>Promote Inclusiveness </li></ul><ul><li>Focus on “main street Saskatchewan” </li></ul><ul><li>Not “another government program” </li></ul>
  4. 4. Current Environment <ul><li>Venture Capital Investment Categories </li></ul><ul><li>Small Capital: <$1,000,000 to new or existing enterprises </li></ul><ul><li>Mid-Size Capital: $1,000,000 to $5,000,000 </li></ul><ul><li>Large Capital: >$5,000,000 </li></ul>
  5. 5. Investment Gaps <ul><li>Stages: </li></ul><ul><li> Research and development </li></ul><ul><li> Pre-commercialization </li></ul><ul><li>Start-ups </li></ul><ul><li>Growth </li></ul><ul><li>Size: </li></ul><ul><li> Small capital investments </li></ul><ul><ul><li>Those who require <$1,000,000 in financing </li></ul></ul><ul><li>Sector: </li></ul><ul><li>No gaps identified – all to be considered </li></ul><ul><li> Conventional agriculture and retail </li></ul>
  6. 6. Proposed Framework <ul><li>Entrepreneurial Foundation (not-for-profit) </li></ul><ul><ul><li>Advisory service for entrepreneurs seeking capital of <$1,000,000 </li></ul></ul><ul><li>Entrepreneurial Fund </li></ul><ul><ul><li>Fund established to make <$1,000,000 investments (as recommended by the Foundation) </li></ul></ul>
  7. 7. Proposed Foundation and Fund Structures Entrepreneurial Foundation advisory role to applicants Adjudication Board Makes recommendations for potential investments Experienced business people and professionals. Entrepreneurial Fund Managed by external partner & qualified fund manager
  8. 8. The Role for Credit Unions <ul><li>Provide link between local entrepreneurs and Foundation </li></ul><ul><li>Provide community leadership through relationship to Foundation and Fund </li></ul><ul><li>Get first look at potential commercial customers </li></ul><ul><li>Bring to life the system’s vision of “growing communities and its mission: “ To enhance the economic and social wellbeing of our members and communities, we provide financial solutions. ” </li></ul>
  9. 9. Entrepreneurial Foundation Board of Directors <ul><li>Chairperson - Keith Brown, President and CEO Trailtech Inc. </li></ul><ul><li>Vice-Chair – Garnette Weber, CFO, Itracks </li></ul><ul><li>Sonja Dahlman – Economic Development Officer, Assiniboia </li></ul><ul><li>Warren Sproule, Partner, Kanuka-Thuringer </li></ul><ul><li>Garth Melle – Vice President, Research and Development, SaskCentral </li></ul>
  10. 10. Entrepreneurial Foundation Board of Directors <ul><li>Ray Ahanekew – Acting President, SIIT </li></ul><ul><li>Doug Gill – Industry Liason Officer, University of Saskatchewan </li></ul><ul><li>Bob Schad – Industry Liason Officer, University of Regina </li></ul><ul><li>Larry Spannier – Senior Vice President, Crown Investments Corporation </li></ul>
  11. 11. Entrepreneurial Fund <ul><li>Model consistent with traditional venture capital structures </li></ul><ul><li>PFM Capital Inc. was selected as fund manager </li></ul><ul><li>Fund manager will make investment in fund </li></ul>
  12. 12. Current Status <ul><li>Foundation and the Fund publicly launched Nov 9, 2005. </li></ul><ul><li>Foundation CEO is in place </li></ul><ul><li>Please watch for further information </li></ul>
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