As most industrialized countries except the U. S., Canadian governments, federal and provincial, are questioning and trying to improve the levels and the channels of their support to the financing of innovation and, more specifically, to the venture capital industry. [...] As a background paper, the purpose of this report is to review the various forms of recent government involvement in the venture capital industry across a sampling of leading industrialized industries and highlight some key trends which could be relevant to the Canadian situation. [...] However, based on the interviews and discussions around and within the Public Policy Forum, we think we have been able to capture the main recent trends in government support to venture capital and the financing of innovation and the thinking that underlies them. [...] Germany Tools Grants/ To universities or Subsidies companies for tech transfer To companies for R&D Subsidized services to companies (investment readiness) Tax Credits To companies: R&D, commercialization To individuals to invest in VC funds To business angels to invest in companies Other fiscal For business angels to measures invest in SMEs Allocation Direct investment for (government funds) inve [...] US Tools Grants/ To universities or SBIR, STTR Subsidies companies for tech transfer To companies for R&D Subsidized services to companies (investment readiness) Tax Credits To companies: R&D, commercialization To individuals to invest in VC funds To business angels to invest in companies Other fiscal For business angels to Lower capital gain tax and rollover measures invest in SMEs Allocation Dir