
First AngelList deal in Canada: Forestry.io - sgallant
http://betakit.com/forestry-io-closes-first-seed-round-in-canada-with-angellist-syndicate/
======
sgallant
Co-founder of [https://forestry.io](https://forestry.io) here. The Canadian
regulations were just updated to allow for AngelList funding. A huge win for
Canadian startups.

More info here: [http://betakit.com/angellist-syndicates-finally-launches-
in-...](http://betakit.com/angellist-syndicates-finally-launches-in-canada-
via-new-osc-program-with-some-caveats/)

~~~
yellowboxtenant
Just an FYI some of the nav links point to the wrong URL when in the blog
section.

------
startupdiscuss
What was the hold up?

Canada seems to pro-startup, I am surprised they took this long to allow
AngelList funding.

Was there a lobby? An issue with consumer protection? An existing law that had
to be changed?

~~~
vkou
I am not in the startup scene, but no, there was no opposing lobby, and
consumer protections aren't a problem for B2B CMS software.

As for Canada's innovation tax credits, don't count on them. As of 2 years
ago, they were an absolute accounting and bureaucratic horror show.

~~~
krrrh
The innovation tax credits main purpose seems to be to lower morale of
software engineers, enrich consultants, and keep a bunch of zombie startups
alive for too long or help successful companies focus on something other than
product and customers. It's almost beyond parody. See:

[https://mobile.twitter.com/acoyne/status/771918107640225792](https://mobile.twitter.com/acoyne/status/771918107640225792)

