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jerryking : martin_prosperity_institute   4

Canada’s missed opportunity: Pot industry now being run out of the U.S.
JULY 3, 2019 | The Globe and Mail | by ANDREW WILLIS.

With Bruce Linton’s firing, it’s now all too clear that the biggest companies in Canadian cannabis are run out of New York and the state of Washington. An industry that this country seemed destined to lead when the federal Liberals legalized recreational cannabis last October 2018, is increasingly dominated by foreigners. ...... The opportunity to create global cannabis champions, based in Canada, appears to be vanishing. There should be a conversation around that issue, in political and business circles, before the biggest head offices all disappear... Linton ...lost his job because his visionary approach for Canopy Growth Corp. didn’t fit with the predictable, quarter-by-quarter profits demanded by Constellation Brands Inc....Linton’s departure is similar to what has played out at many startups that get sold to multinational companies. .....Even when we brought Constellation's $5-billion in, I knew, from that change of structure, there would likely be implications for management, but it was the right thing to do for the company.”... our entrepreneurs tend to sell successful startups at a relatively early stage, compared to jurisdictions such as the U.S. and Asia. . The trend, now happening even more rapidly in the cannabis sector, cuts into the potential future prosperity of this country......a study last year from the Washington-based Brookings Institution and the Martin Prosperity Institute at the University of Toronto’s Rotman School of Business – scaling up successful domestic businesses is essential to creating wealth and producing the next generation of corporate leaders. Canadians need to do better at turning their own companies into global champions. Silicon Valley generates enormous wealth out of a vibrant tech community. Why can’t Leamington, Ont., or Nanaimo, B.C., aspire to do the same in cannabis?..Canadian cannabis companies were created by government policy..... federal and provincial regulators granted the licences needed to grow and distribute their products – and local capital markets were receptive to financing them...CEOs, boards and domestic politicians should be asking if the country is best served by a laissez-faire approach to cannabis that created vibrant, valuable businesses following legalization in 2018, then quickly began handing over control of the sector....
Andrew_Willis  Bay_Street  Brookings  cannabis  Canopy_Growth  CEOs  Constellation_Brands  crossborder  departures  firings  global_champions  head_offices  home_grown  industrial_policies  Martin_Prosperity_Institute  missed_opportunities  sellout_culture 
july 2019 by jerryking
U of T contributes to New York's push for academic excellence
john lorinc
From Friday's Globe and Mail
Published Thursday, Oct. 27, 2011

The University of Toronto has joined a team of international schools to make a bid to build a $450-million urban sciences campus in Brooklyn, N.Y.

The deal includes a promise of city-owned land and $100-million in seed capital. It is part of an ambitious plan by New York’s Mayor Michael Bloomberg to develop a world-class engineering and research commercialization facility. ...Mr. Bloomberg, with his trademark alacrity, wants shovels in the ground by 2013, when he leaves office. “The sense of urgency comes directly form the mayor,” said Seth Pinsky, president of New York’s economic development agency. “We have a limited window of opportunity.”

The radical economic development scheme, considered by many to be the mayor’s legacy project, is expected to generate $6-billion in spin-off investment and create 30,000 creative-class jobs in coming decades.

Mr. Pinsky describes the strategy as “an Erie Canal moment,” a reference to a controversial 1820s decision by a state governor to build an upstate shipping channel. The investment that drove vast wealth into the port of New York....“It may be the single most transformative investment of the Bloomberg administration,” said Richard Florida, director of the Martin Prosperity Initiative at the University of Toronto. “I only wish more cities would think that way.”

With large Canadian universities stuffed to capacity and some provinces considering new campuses, New York’s experiment is a game-changing wealth-generating strategy and ups the ante for big cities like Toronto and Vancouver, said Dr. Florida. “If you see a place like New York moving in this direction, you’ve just seen your biggest competitor take a big step ahead.”
uToronto  Colleges_&_Universities  New_York_City  Michael_Bloomberg  John_Lorinc  urgency  transformational  Erie_Canal  windows_of_opportunity  Richard_Florida  upstate  game_changers  economic_development  wealth_creation  cities  creative_class  the_single_most_important  Martin_Prosperity_Institute 
october 2011 by jerryking
Conference to explore creativity in urban centres
Posted on 11/02/09 by JEFF GRAY.

In a partnership with the Martin Prosperity Institute at the University of Toronto - headed by urban thinker Richard Florida - the city of Toronto will spend $10,000 on an international conference this June on "cultural mapping."

The conference, highlighted in yesterday's city budget, will be called Placing Creativity. It will include international cultural policy researchers and "explore the connection between place, creativity and the economy."

The event, billed in a budget document as a "major gathering of international thinkers," will focus on the geographic discipline of "cultural mapping," which looks at the way artists and art institutions cluster and the effect they have on neighbouring businesses.
creativity  Jeff_Gray  conferences  physical_place  spillover  ideacity  creative_types  urban  cultural_mapping  clusters  artists  cultural_institutions  Martin_Prosperity_Institute 
february 2009 by jerryking

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