What if we treated cultural funding like venture capital?

Robert J. Foster C.M., Chair of Business / Arts, makes a compelling case for viewing the Canada Council for the Arts as an investor in Canada’s future—supporting creative potential, generating jobs, and shaping vibrant communities.

At Business / Arts, we see this every day. Modest grants often ignite extraordinary careers. Artists become entrepreneurs. Cultural projects become economic engines. Communities thrive.

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Canada Council as Cultural Venture Capital: Investing in the Business of the Arts

In the world of early-stage investment, venture capital firms are celebrated for their ability to spot potential and turn small bets into transformative enterprises. They identify individuals with talent, vision, and drive, providing the resources and support they need to grow. In Canada, we already have a world-class mechanism for doing just that—but in the realm of creativity rather than code. It’s called the Canada Council for the Arts | Conseil des arts du Canada.

As Chair of Business / Arts, I have the privilege of working with many of the country’s leading cultural creators. Again and again, I see a pattern emerge: a young artist, playwright, poet, or visual creator receives a modest grant from the Canada Council, allowing them to devote meaningful time to their craft. That early investment is catalytic. From there, careers take flight, fueling creative enterprises that shape our national identity and generate significant economic returns.

Many of today’s household names in Canadian culture were nurtured through early Canada Council support. What may have started as a one-time grant became the foundation for an internationally successful artistic business.

These are not just artists. They are employers. They run teams of producers, technicians, assistants, marketers, accountants, and more. Their operations span studios, publishing houses, touring companies, and collaborative workshops. They are not just creative minds—they are CEOs of cultural enterprises.

The Canada Council, then, is best seen as a form of cultural venture capital. It deploys public funds not merely as subsidies but as strategic investments in potential. While not every recipient becomes a global name, many go on to create meaningful work, generate employment, and contribute to the national economy. They also elevate Canada on the world stage, export our values, and strengthen our creative industries.

Along with investing in artists and creators, the Canada Council supports arts organizations across the entire country, in communities large and small, which contributes not only to artistic creation but also to employment, both direct and indirect economic activity, and the development of vibrant neighbourhoods, towns, and cities grounded in a strong Canadian cultural presence.

This matters not just to the cultural sector but to every Canadian taxpayer. Why? Because arts and culture are proven economic drivers. Tourists are more likely to stay longer and spend more when they attend a gallery or performance. Cities with vibrant arts scenes are better at attracting top talent in all fields, from tech to medicine. And exposure to the arts has been linked to improved mental health and community well-being. Arts investment is, in short, economic development.

As governments at all levels consider how best to spur innovation, build inclusive economies, and promote national unity, it is time to recognize what the Canada Council already does brilliantly: it seeds the future. The Council identifies high-potential individuals and helps them grow as artists, entrepreneurs, employers, and nation builders.

At Business / Arts, we proudly support this work. And we urge policymakers, business leaders, and citizens alike to view cultural funding not as a cost, but as a catalytic investment. Like venture capital, it takes vision and a willingness to believe in talent before the returns are clear. But the dividends are extraordinary—economically, socially, and spiritually.

The next time someone questions the value of a $10,000 grant to an unknown young poet or filmmaker, remember: that investment could grow into a business, a body of work, a movement. It could become a piece of Canada’s soul.

Robert J. Foster, C.M. is Chair of Business / Arts, a national charity that champions business investment in the arts and is Founder, President & CEO of Capital Canada Limited, an independent investment banking firm.

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