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Everyone agrees that innovation is great and we need more of it – but it takes serious money to take an early-stage company with $4-million or $5-million in revenue and transform it into a company with $100-million in revenue.

In Canada, there's a real challenge in getting to that next phase, whereas Silicon Valley's tech investors are generally more alive to the potential of young Canadian firms. In the past few years, Canadian startups have seen a lot more funding from the United States and countries outside Canada than from inside the country, and in larger amounts.

Lexpert contributor Sandra Rubin reports at www.lexpert.ca.

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