The Government of Canada will use an appointment process that is transparent and merit-based, strives for gender parity, and ensures that Indigenous peoples and minority groups are properly represented in positions of leadership. We will continue to search for Canadians who reflect the values that we all embrace: inclusion, honesty, fiscal prudence, and generosity of spirit. Together, we will build a government as diverse as Canada.
Innovation, Science and Economic Development Canada works with Canadians in all areas of the economy and in all parts of the country to improve conditions for investment, enhance Canada's innovation performance, increase Canada's share of global trade and build a fair, efficient and competitive marketplace.
The Government of Canada is currently seeking applications from diverse and talented Canadians from across the country who are interested in the following positions:
Chair and Members (part-time positions)
Venture Capital Catalyst Initiative Selection Committee, Innovation, Science and Economic Development Canada
Announced in Budget 2021 the Government of Canada will make available up to $450 million for a renewed Venture Capital Catalyst Initiative (VCCI). Through VCCI, the Government of Canada, with the participation of corporate, institutional and other investors, is expecting to capitalize private sector-led intermediaries by creating a balanced portfolio of traditional, returns-driven funds-of-funds while also increasing the availability of capital for high-potential firms in the life sciences sector and for fund managers and entrepreneurs from underrepresented groups, such as women and racialized communities. With funds leveraged from the private sector, and depending on the proposals received, this investment could inject more than $1.5 billion into Canada's innovation capital market.
The Chair and members of the selection committee will evaluate incoming proposals and provide recommendations to the Deputy Minister of Innovation, Science and Economic Development Canada (ISED) on which applicants to select for VCCI.
Further details about the initiative can be found on the VCCI webpage.
Candidates must send a résumé and cover letter addressed to the Deputy Minister of ISED to the following email address: capital@ised-isde.gc.ca. Please note that the deadline for interested Canadians to apply is: 5:00 p.m. Pacific Time on June 9, 2022.
Your cover letter should outline how you meet the experience, knowledge and personal attributes criteria outlined below.
Official Languages and Diversity
The Government of Canada will consider bilingual proficiency and diversity in assessing candidates for these positions. You are therefore encouraged to include in your application your ability to speak and understand your second official language. Preference may be given to candidates who are members of one or more of the following groups: women, Indigenous peoples, persons with disabilities, and members of visible minority groups.
To be considered for one of these positions, please provide examples from your career that clearly demonstrate how you meet the following requirements in your application:
Education and Experience
- A degree from a recognized university in a relevant field of study or an acceptable combination of education, job-related training or experience;
- Experience serving as a member of a board of directors for a public or private-sector organization, or as a senior executive answerable to stakeholders in the public or private sector; and
- Extensive experience at a senior level in venture capital or private equity, involved in determining the strategy, policies and broad principles for investment activity.
Knowledge, Skills and Abilities
- Solid and broad understanding of the funding and support ecosystem for innovative start-ups in Canada;
- Strong understanding of various funding models and structures, as well as the parameters and incentives required to attract private-sector capital to Canada over the long term;
- Ability to discuss, foster debate among committee members, facilitate consensus and manage conflicts, should they arise;
- Ability to develop effective working relationships with other committee members and stakeholders; and
- Superior written and verbal communication skills.
In addition to the criteria outlined above, candidates wishing to be considered for Chair should demonstrate:
- Experience in chairing private-sector committees or boards; and
- Leadership, decision-making and consensus-building qualities.
Personal Attributes
Please include contact information for three personal references.
If you move on to the next stage of the selection process, we may contact your references to verify how you have demonstrated the experience requirements and the following personal attributes in your current and recently held positions:
- Sound judgment, tact, and discretion
- High ethical standards
- Integrity
- Superior interpersonal skills
- Adaptability, flexibility and impartiality
Eligibility Factors and Conditions of Employment
In your application, it will be important to confirm that you are able to abide by the following requirements:
- The time commitment for members is expected to be approximately 10 hours per month, and may be up to 30 hours per month during the initial application review and evaluation period.
- You must be willing to travel domestically as required.
- Each member shall be reimbursed, consistent with guidelines set forth by the Treasury Board Directive on Travel, Hospitality, Conference and Event Expenditures, for reasonable travel and living expenses incurred while performing committee duties.
- Members will discuss and review confidential and sensitive documents and will be required to observe the confidentiality and privacy policies of the Government of Canada.
- You must observe guidelines on conflict of interest and ethics, and may not have any real or perceived conflicts of interest.
- Reliability Status security clearance will be required.
If you are chosen as a selection committee member you will be expected to sign and agree to the Appointment Agreement, including conflict of interest and confidentiality provisions, included below.
This notice is not intended to be the sole means of recruitment.
Appointment Agreement
Venture Capital Catalyst Initiative Selection Committee
Chair and Members
BETWEEN:
HIS MAJESTY THE KING IN RIGHT OF CANADA (as represented by the Deputy Minister of the Department of Industry, styled as Innovation, Science and Economic Development Canada)
(the "Deputy Minister")
AND:
____________________________ (name), of the City of ____________________________ in the Province of ____________________________
(the "Member");
Individually a "Party" and collectively the "Parties"
WHEREAS access to capital is a key element in advancing innovation from ideas to reality. Venture capital (VC) is a critical part of the Canadian economy because it provides funding that enables high-potential, innovative companies to survive and grow.
WHEREAS Budget 2021 announced the Government is making available up to $450 million for the renewed Venture Capital Catalyst Initiative (VCCI) to increase the availability of VC in Canada. With funds leveraged from the private sector, and depending on the proposals received, this investment could inject approximately $1.5 billion into Canada's innovation capital market.
AND WHEREAS a selection committee (Committee) consisting of up to six people (Members), has been established to support and advise the Deputy Minister (DM) of Innovation, Science and Economic Development Canada (ISED) on the selection of applicants for the VCCI.
NOW THEREFORE, in consideration of the mutual covenants and obligations contained in this Agreement, the Parties agree as follows:
1.0 Scope of Work
1.1 The Committee will provide input and advice on the selection of applicants to the VCCI. The Committee will review the Secretariat's (as defined in Section 5.1) preliminary analysis of incoming applications and provide advice to the DM regarding the selected applicants (Work). Committee members may be asked to serve for all or some streams of the VCCI.
2.0 Task of the Committee
2.1 The Committee must prepare a written report to the DM that details its recommendations on selected applicants with the aim of building a balanced portfolio of returns-driven funds-of-funds, life sciences funds, and funds advancing inclusive growth to strengthen and broaden the Canadian VC ecosystem. A separate report must be prepared for each stream of VCCI.
2.2 The Committee must convene at least three meetings beginning in summer 2022. Teleconferences may be held as necessary. Each Member must participate at each meeting and teleconference call; alternates are not permitted. Members may provide their input in writing if they are unavailable at the time of the meeting or teleconference.
2.3 A simple majority of the Members constitutes a quorum. Members should strive to reach decisions and recommendations by consensus. If no consensus can be reached, decision by simple majority of the Members is permissible. Any dissenting Member may include input to the report in respect of their dissent.
3.0 Deliverables/Timelines
3.1 The evaluation of applications is expected to commence in summer 2022 and continue into 2023. Members may apply for, or be asked to serve for all or some streams of the renewed VCCI which may affect timelines. The written report of recommendations for each stream must be submitted within a reasonable time following the evaluation of applicants, agreed to by the Committee and the Secretariat.
4.0 Travel/Remuneration
4.1 Travel may be required.
4.2 All travel must be preauthorized by the Project Authority (as defined in Section 9.0) and must be in accordance with Section 7 of Treasury Board Special Travel Authorities and Appendices B, C and D of the National Joint Council Travel Directive, as amended from time to time.
- The National Joint Council Travel Directive can be found at the following link: http://www.njc-cnm.gc.ca/directive/index.php?did=10&lang=eng
- The Treasury Board Special Travel Authorities can be found at the following link: https://www.tbs-sct.gc.ca/psm-fpfm/pay-remuneration/travel-deplacements/sta-asv-eng.asp
4.3 ISED agrees to reimburse Members for reasonable travel and related expenses that are incurred in fulfilling this Agreement as per the below Terms of Payment.
5.0 Committee Support
5.1 A Secretariat, staffed by employees of ISED and the Business Development Bank of Canada, will provide the following functions:
- Assistance with research and investigation for the Committee's analysis and recommendations;
- Preparation, translation and editing of documents;
- Meeting co-ordination, including hospitality, meeting room rentals, logistics; and
- Drafting summaries of meetings and calls.
6.0 Official Languages
6.1 The Work may be provided in either English or French.
7.0 Intellectual Property
7.1 All intellectual property rights in any documents produced by the Committee shall immediately vest in and remain the property of the Government of Canada.
8.0 Confidentiality and Conflict of Interest
8.1 Members are bound by the conflict of interest and confidentiality provisions attached to this Agreement as Annex A.
9.0 Project Authority
9.1 The Project Authority is responsible for the planning and monitoring of the Committee and its report.
9.2 The Project Authority for this agreement is: Small Business Branch, ISED.
10.0 Terms of Payment
10.1 Work is conducted on a voluntary basis and will not be remunerated. ISED agrees to reimburse the Member a sum not to exceed $24,500.00 including taxes, for any reasonable travel-related expenses incurred in the performance of the Work.
10.2 A detailed invoice(s) and original receipts must be submitted to the Project Authority (amounts specified in Appendices B, C and D of the National Joint Council Travel Directive do not require receipts).
10.3 No Member, or any of their personnel, is engaged by this Agreement as an employee, servant or agent of His Majesty. To the extent applicable, Members are solely responsible for any and all payments and/or deductions required to be made including those required for Canada or Quebec Pension Plans, Employment Insurance, Workers' Compensation, or Income Tax.
11.0 Applicable Laws
11.1 This Agreement shall be interpreted in accordance with and governed by the laws in effect in the Province of Ontario.
12.0 General
12.1 In this Agreement, the singular shall include the plural, and vice versa, unless the context clearly indicates to the contrary.
12.2 This Agreement may be executed in counterparts.
IN WITNESS WHEREOF this Agreement is duly executed by the Member and by an authorized representative of Canada.
Executed in duplicate and effective this ____ day of ____________, 2022.
FOR HIS MAJESTY THE KING IN RIGHT OF CANADA:
_________________________________________
(Signature)
Deputy Minister,
Department of Innovation, Science and Economic Development
THE MEMBER:
_________________________________________
(Signature)
_________________________________________
(Name)
ANNEX A
Conflict of interest and confidentiality provisions
Venture Capital Catalyst Initiative (VCCI) Selection Committee
1.0 Context
1.1 The Deputy Minister has established the Venture Capital Catalyst Initiative (VCCI) Selection Committee (Committee) comprised of representatives to provide him with expert advice.
1.2 The Member wishes to become a Member of the Committee.
1.3 The advice (Work) the Members provide to the Deputy Minister must not be tainted by actual or potential bias and must be free of any real or apparent conflict of interest, as set out in Section 2.0.
1.4 The Deputy Minister may consider the whole of the deliberations and recommendations provided by the Committee, including additional materials that its Members considered or generated.
2.0 Conflict of interest
2.1 The Member acknowledges the importance of offering advice and recommendations that are independent, expert and made in good faith. The Member must make all research and analysis gathered by the Member for the purposes of the Work available to the Deputy Minister or to any official(s) designated by the Deputy Minister.
2.2 The Member must disclose to the Deputy Minister any advice which, if adopted and implemented by ISED, would result in financial gain to the Member, either professionally or personally, or to any person in the Member's immediate family or to any organization with which the Member is affiliated.
2.3 In the event that the Member also sits on any other advisory board or committee, the Member must not to share any information, documentation, deliberations, records or advice obtained, developed or given by or to the Committee with the members of the other advisory board, unless and until the Member is authorized to do so, in writing, by the Deputy Minister or any official designated by the Deputy Minister.
2.4 The Member must immediately report to the Deputy Minister any circumstances in which the Member considers there is a real, apparent or perceived conflict or potential for bias resulting from the Member's role on the Committee and any outside interests or activities, including organizational affiliations or other advisory boards. Should the Deputy Minister or an official designated by the Deputy Minister conclude that a real, apparent or perceived conflict of interest exists involving the Member's activities on the Committee and the Member's outside interests or activities, the Deputy Minister may require the Member to abstain from participating in any discussions or in the development of any recommendation, or terminate the Member's membership in the Committee at the Deputy Minister's sole discretion.
2.5 In the event that the Member is already subject to the Value and Ethics Code for the Public Sector, Values and Ethics Codes for a Federal Department, the Conflict of Interest Act, or any other federal policy or law relating to conflict of interest, the Member acknowledges that they remain bound by these provisions and shall comply with their requirements in performing their duties under the terms of this Agreement.
3. Confidentiality
3.1 The Member agrees to treat any information which the Deputy Minister or ISED discloses to them in their capacity as a Committee member as confidential and subject to the Access to Information Act, the Security of Information Act and the Policy on Government Security.
3.2 The Member agrees that they shall not, without the prior written permission of the Deputy Minister or an official designated by the Deputy Minister, disclose to any one, other than another Member, the Deputy Minister or an official of ISED, any information or documentation discussed or provided by ISED or by any other person, for or during Committee meetings, discussions or deliberations, except to the extent that such information or documentation is demonstrably in the public domain.
3.3 The Member shall not make use of the information or documentation disclosed or provided to the Member in their capacity as a Committee member for any purpose other than their mandate as a Member of the Committee, except to the extent that it is demonstrably in the public domain,.
3.4 The Member agrees to return to ISED any information disclosed to them in their capacity as a Committee member at the end of their term.
3.5 These confidentiality provisions are subject to the operation of Canadian law and any validly issued Court order.
4.0 Survival
4.1 The obligations set out in this Annex shall survive the expiration or termination of the Appointment Agreement for a period of five years.