Crowdfunding: Urgent Call for MP Leadership in Making Canada the Destination for Emerging Growth Companies
April 24, 2012

Letter sent to all members of Parliament

Changes to U.S. legislation permit private companies to raise investment capital from social media or the crowd. The shift provides investors with small equity stakes in private companies and if Canada does not follow suit will put us further behind in Canada’s own startup scene.

We encourage you to read a recent article published in the Financial Post by Christine Dobby, on “A Case for Crowdfunding.” Here is the URL:

http://business.financialpost.com/2012/04/18/a-case-for-crowdfunding/

In the article, Ms Dobby, aptly summarizes our Call to Action to all MPs:

“Mr. Reid said Ottawa should actively champion a change in securities legislation or risk losing investment and jobs.

“The federal government can say its provincial jurisdiction, but that doesn’t mean they’re excluded from messaging, reaching out and taking political leadership,” he said. “I would argue that suasion is quite powerful.”

We are simply asking that federal MPs advance the dialogue on the importance of Crowd funding in helping create, attract and grow start up companies in Canada.

Please contact the undersigned if you wish to receive further briefings on this mission critical matter for Canadian innovation and the digital economy.

Yours sincerely,

John Reid, CEO CATAAlliance (www.cata.ca)
jreid@cata.ca