part of VCAP. The other backers in Kensington’s latest fund, interestingly, include most of the big banks, which have tradi- tionally kept a polite distance from VC financing. (Even now, they provide only 10% of VC dollars.) Opinions on VCAP’s potential vary. Douglas Cumming, an


Ontario research chair in private equity and entrepreneurship at York University’s Schulich School of Business, says the program and its Ontario equivalent are “promising” but he does not think they go far enough in delivering venture funding.


Shortly after he finished a Rhodes Scholarship, Wojciech


Gryc found himself working at McKinsey & Co., doing data ana- lytics for elite corporate clients. Gryc figured there was an opportunity to market similar services to smaller firms and began building a more affordable analytics platform. After setting up Canopy Labs, an upstart analytics firm, at the begin- ning of 2012, Gryc did a stint at the legendary San Francisco incubator Y Combinator before returning to Toronto. A major attraction that drew Gryc back was the scientific


JUNE/JULY 2015 | CPA MAGAZINE | 53


Baiba Black


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