Nortel: Canada’s VCs Want Government Tech Strategy

A group of venture capitalists in Canada is calling for the development of a national technology strategy as Nortel Networks Corp. (NT) falls apart and into foreign hands.

Canada’s Venture Capital and Private Equity Association also wants Tony Clement, Canada’s Industry Minister, to make sure Nortel’s sales to Ericsson and possibly Avaya Inc. are open and fair.

The Great White North is suffering from a dearth of tech innovation and the problems stand to worsen as Nortel – the country’s foremost technology firm – crumbles.