Business View Magazine | Volume 9, Issue 3

60 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 3 BVM: What role does advocacy play? Althaus: “As mentioned earlier, one of the main challenges for cleantech ventures is access to capital because they are developing and selling novel technologies – oftentimes, these technologies are not just software based but there is hardware involved. Meaning the capital envelope that is needed is much higher and the development cycle is a lot longer. So, there is a risk that comes with the investment. Compared with the U.S., we in Canada, are more risk averse. The capital envelopes investment firms are providing are typically smaller as well. As a result, we need to advocate for policies that de-risk investments in clean technology and accelerate the deployment of corporate venture capital. “For example, through Canada Cleantech Alliance, we’ve advocated for a variety of tax incentives that will further investments in cleantech. On the Ontario side, we would like to see a loan guarantee program to backstop investments. A loan guarantee program incentivizes the flow of private capital into cleantech without the need for the government to spend massive amounts of public money. “Another important driver for more cleantech investment is public procurement – especially municipal procurement that accounts for 80% of public spending. But also provincial and federal public procurement of cleantech can send important market signals and thus facilitate and accelerate private investments. “If OCTIA had a wish list, its members would also like to see EV mandates and purchase incentives as well as more sustainable building standards for new developments. In addition, if we are thinking about market incentives, a review of the PACE (Property Assessed Clean Energy) program and its enabling legislation in Ontario would allow for energy efficiency retrofits of residential and commercial buildings on a massive scale. cleantech companies with investors and/ or buyers is a key initiative. For example, in November we hosted a virtual pitch session and had several investment companies on board that specialize in clean technology – all are members – and we gave our cleantech members the opportunity to pitch in front of these investors. On our website we have also created a closed membership space which is a platform for ventures to connect, find partners, and collaborators. “The second pillar is advocacy on a provincial level, and on a federal level through Canada Cleantech Alliance. So I’m actually wearing two hats. I’m the Executive Director of OCTIA, but also the Executive Director of Canada Cleantech Alliance, of which OCTIA is a member.”