This is the same ideology of neo-conservative statist economics, as those who would have the state promote venture capital schemes as Alberta did and then sold off.
| High-tech firms need government help, executive says |
| Last updated Mar 29 2006 11:19 AM MST CBC News |
An Edmonton entrepreneur says the Alberta government has to do more to encourage investment in the province's small but burgeoning high-tech sector. Adrian Banica owns Synodon Inc., a small high-tech company that specializes in gas detection technology. He said without government help, the high-tech sector will disappear from the Alberta landscape because it can't compete for investment with the oil and gas industry. Banica added that he has had trouble for years raising money to develop his product and expand his business. He said for an economy to be strong, it has to be diverse, so the province should provide more incentive for investment in high-tech. "The government has to put some dollars forward and then demand that private investors match it at least. But one thing that could make a big difference is to have some sort of tax credit that's issued on certain investments." A recent survey of 128 high-tech firms by Ernst & Young discovered that 49 per cent of high-tech companies are thinking of moving to other provinces that offer tax credits and financial considerations for technology businesses.
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