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Canadian Game Developer Magmic Launches $4 Million Fund for Local Startups – Techvibes.com

Looks like Magmic is launching a new fund for video game startups in Canada:

Ottawa-based gaming developer Magmic is launching a $4 million fund targeted at local startups.The Canadian company, which was founded in 2002, made the announcement at the Ottawa International Games Conference this week.

via Canadian Game Developer Magmic Launches $4 Million Fund for Local Startups – Techvibes.com.

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Canadian startup visa program to launch April 1

“Our new startup visa will help make Canada the destination of choice for the world’s best and brightest to launch their companies,” Mr. Kenney said. “Recruiting dynamic entrepreneurs from around the world will help Canada remain competitive in the global economy.”

via Startup visa program to launch April 1 with participation of CVCA and NACO | FP Startups | Entrepreneur | Financial Post.

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Harper announces $400 million in venture capital

The Canadian government is hoping to increase the funding of young entrepreneurs; and keep them in Canada:

The government’s Venture Capital Action Plan, which was announced in the last federal budget, is making $400 million available to help increase private-sector investments in the next seven to 10 years.

via Global News | Harper outlines plan for more venture capital.

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Can an entrepreneur from Vernon, BC build Canada’s next billion-dollar tech company?

Great profile on Vernon-born entrepreneur, Ryan Holmes, on Canadian Business:

But for Canadians, what’s perhaps most interesting is Holmes’s unique pledge for a startup entrepreneur: he’s gone on the record vowing to build a billion-dollar company north of the 49th parallel. Canada’s tech industry is plagued with problems, not the least of which is a tendency for our startups to sell early.

Further down, the article talks about Holmes’ Vernon roots, and his early entrepreneurial ambition:

For Holmes, entrepreneurship has always been a way of life. He started his first business, a paintball company, in high school, and his second, a Vernon, B.C.–based pizza-by-the-slice joint called Growlies, in lieu of finishing his last year of business school at the University of Victoria. Eventually, he sold the restaurant and moved to Vancouver, where he spent a winter learning how to code. He put together a portfolio and got a job at a dot-com, which in 2000 “dot-bombed,” he says. That’s when he started his own digital services agency, Invoke Media, out of which HootSuite was born in 2008. HootSuite spun off as an independent company in December 2009, raised $1.9 million and continued its exponential growth, eclipsing Invoke.

via Is HootSuite Canada’s next billion-dollar tech titan?.

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A phenomenal year for Canadas young tech companies

Overall, Canadas tech sector has just finished an excellent year and the prospects for 2013 look at least as good.

via A phenomenal year for Canadas young tech companies – Technology & Science – CBC News.