How Entrepreneurship Can Drive National Prosperity at #NACOSummit #InnovationNation
Joe Canavan, Angel Investor at Canavan Capital in conversation with Kevin Carmichael, Economics Columnist & Editor-at-Large at The Logic. The Globe and Mail recently reported on the explosive growth of Wealthsimple, with $38.7 billion in assets under management. Fintechs such as this are enabling everyday Canadians to save for their kids’ college education, borrow at more competitive rates and better plan for the future. Listen in on what startups like this mean for economic inclusion, solving Canada’s productivity challenges, and the debate on whether government or the private sector is best positioned to create and distribute wealth. In an article titled "Investor Joe Canavan quietly backed startup financial tech companies through downturn", Globe & Mail journalist Clare O'Hara wrote: "For decades, Joe Canavan had a reputation on Bay Street for turning around languishing asset managers. But over the last 10 years, he has pivoted from managing to investing, piling millions of dollars of his own money into early-stage technology companies... And while the technology sector has seen a major crash in valuations over the last two years, several of Mr. Canavan’s own big bets – which range between $100,000 and $2.5-million per company". These investments include in Wealthsimple, Koho, Kids & Company, Simple Ventures, CapIntel, Radical Ventures, and many other prominent companies and funds. Hear about what motivated him to take these risks, the financial return, supporting underdogs, or something else? We will return to Canada's capital city, Ottawa, on April 29-30, 2025. Join us in Ottawa as we bring together the most influential leaders at the intersection of innovation, capital and entrepreneurship. Apply now at www.nacosummit.com/apply _______ About the speakers: Joe Canavan is an icon in the financial services industry with extensive experience as an executive, entrepreneur and venture investor. His most recent leadership role saw him leave the board of Next Canada after 9 years and become CEO. He reshaped the organization and positioned it for the future replacing himself after 2 1/2 years with his 2IC and has returned to the board. Prior to that he was charged with the responsibility of merging Aston Hill Financial and Front Street Capital, renamed LOGiQ Asset Management, which was ultimately sold to Purpose Investments. Kevin Carmichael has spent more than two decades writing about economics, business and finance for outlets including Bloomberg News, The Globe and Mail and the Financial Post, where he also served as editor-in-chief. His journalism has been honoured by the Society for Advancing Business Editing and Writing and the National Magazine Awards. He has worked as a correspondent in Ottawa, Washington, D.C., and Mumbai, and now lives in Montreal. ______ About NACO Summit: Imagine a gathering where every conversation could spark the next big idea, where each encounter is with someone who shares your passion for innovation and excellence. That's what we're curating at the NACO Summit—a community of the inspired and the inspiring. Our "apply to attend" process ensures that every participant brings value and walks away with even more. It's not just an event; it's the beginning of your next big adventure. Are you ready to be part of something truly transformative? Get connected to our network of 4,000 angel investors that have invested $1.5 billion into 2,000 companies. Apply to attend at www.nacosummit.com/apply
Brilliant! - Joe nails it! …for decades, my core suggestion to move Canada from resource to technology-based economy was to promote capital gains to be re-invested (100% Canada) tax-free IF executed within 1 year. @canada @nacocanada #gdp #startup #brokenangels #joecanavan youtu.be/LU6JLWfUKnA&...
