Stephen A. Hurwitz

Steve Hurwitz concentrates in business, corporate and securities law and Canada-US cross-border transactions.  Prior to becoming a partner at Choate, he was co-founder and chairman of Testa, Hurwitz & Thibeault, LLP.

Mr. Hurwitz is co-founder of the Québec City Conference, a leading invitation-only international venture capital, private equity and institutional investor conference.  He also serves as speaker/panelist at many of the major Canadian technology, life sciences and venture capital conferences. 

Mr. Hurwitz has been named a Massachusetts Super Lawyer.

Publications and Presentations

• Publications in which Mr. Hurwitz has been quoted in recent past on Canada-US cross-border issues: Wall Street Journal, Dow Jones Venture Wire, Globe and Mail, National Post, Ottawa Citizen, Montreal Gazette, Vancouver Sun and Halifax Chronicle.
• “Beyond R&D: Canada’s Commercialization Crisis and How to Meet It – Lessons From Israel,” speaker, Nova Scotia Innovation Summit, Halifax, 2013.
• “New VC Opportunities for U.S. GPs and LPs in Canada?” author, Venture Capital Journal, 2013.
• “The GP/LP Partnership: A Survival Guide,” panel moderator, Réseau Capital Annual Convention, Montreal, 2013.
• “Exits – One Year Later: The New US Jobs Act,” panel moderator, Public Policy Forum of Québec City Conference, Québec City, 2012.
• “Beyond R&D: Canada’s Commercialization Crisis and How to Meet It,” keynote speaker, Technology Expo of Ontario Institute for Cancer Research, Toronto, 2012.
• “Raising US Venture Capital in 2012,” panel moderator, BioFinance, Toronto, 2012.
• “Is Canada Sexy Now?,” panel moderator, Canadian Venture Capital & Private Equity Association Conference, Montreal, 2012.
• “Jump-starting Canada’s VC Industry,” author, Private Capital Magazine, 2012.
• “How the Feds Can Spur Tech Commercialization,” author, Ottawa Business Journal, 2012.
• “The Future of Startup Financing: A North American TeleForum on Crowdfunding,” presenter, Canadian Advanced Technology Alliance, Ottawa, 2012.
• “Exits: Decline in IPO Markets – Causes, Solutions, New Public Policies,” panel moderator, Public Policy Forum of Québec City Conference, Québec City, 2011.
• “Success in the States: A Guide for Foreign Companies to the Largest Venture Capital Pool in the World,” panel moderator, BIO 2011, Washington DC, June 2011.
• "Exits & Other Opportunities in 2011 & 2012," panel moderator, BioFinance, Toronto, 2011.
• "Importing Capital - Foreign LPs in Canadian Funds," panel moderator, Canadian Venture Capital & Private Equity Association Conference, Vancouver, 2011.
• “Investing in Canada,” keynote speaker, Venture North, New York City, 2011.
• "Cross-Border Investing, Capital Sourcing and Deal Syndication Partnering with Canadian VCs and Investors," speaker, CIX (Canadian Innovation Exchange), Toronto, 2010.
• “Government Interventions in the Venture Capital Industry,” speaker, Québec City Conference, Québec City, 2010.
• “Which Public Policies to Support the Industry in a Period of Transition,” panel moderator, Public Policy Forum of Québec City Conference, Québec City, 2010.
• "Getting Funded: Canadian Success Stories," panel moderator, BioContact, Québec City, 2010.
• "Running on Empty: Accessing Capital from Alternate Sources," panelist, Industry Canada Panel, BioContact, Québec City, 2010. 
• "The Right Investor: VC or Strategic," panel moderator, Ontario Venture Summit, Ottawa, 2010. 
• “Funds Brighten Future of Canadian Innovation,” author, The Toronto Star, 2010.
• “US Money for Life Sciences,” panel moderator, BioFinance, Toronto, 2010.
• "Canada Knocks Down Barriers to US VCs," author, Venture Capital Journal, 2010.
• “Venture Capital Finally Gets a Break," author, Financial Post, 2010. 
• "The Canadian Government’s Section 116 Reform," interview, BNN (Business News Network), Toronto, 2010.
• “Canadian Funds Offer New VC Model,” author, Venture Capital Journal, 2009.
• “US Venture Capital Investing in Canada: Section 116 Clearance Certificate Barrier,” co-presenter, Teleforum of CATA (Canadian Advanced Technology Alliance), Ottawa, 2009.  
• "Opening Canadian Borders to Foreign Venture Capital," interview, BNN (Business News Network), Toronto, 2009.
• “The Ontario and Québec Funds of Funds: A New Model for the Venture Capital Industry,” speaker, The Québec City Conference, 2009.
• “How to Get Money When There Isn’t Any: A Focus on US Sources,” panel moderator, BioContact, Québec City, 2009.
• “Not Just About the Money: Partnering with Investors to Add Value,” panel moderator, Ottawa Venture & Technology Summit, Ottawa, 2009.
• “Cross-Border Investing, Capital Sourcing and Deal Syndication,” panelist, Can/Am Exchange, Boston, 2009.
• “Securing Life Sciences Investment in Difficult Times,” co-author, Mass High Tech: Journal of New England Technology, 2009.
• “Asset Allocation – Role of Private Markets Debate,” panel moderator, Canadian Venture Capital & Private Equity Association Conference, Calgary, 2009.
• “Raising Venture Capital in the US:  A Practical Road Map for Foreign Companies to the World’s Largest Capital Pool,” panel moderator, BIO 2009, Atlanta, 2009.
• “Misadventure Capitalism,” author, Financial Post, 2009.
• “US Venture Capital for Canadian Companies,” panel moderator, BioFinance, Toronto, 2009.
• “Québec Inc.:  Getting Prepared for the New Ordeal,” panelist, QuébecTechno, Montreal, 2009.
• “Challenges and Opportunities in Seeking Funding from US VCs:  Ten Practical Tips,” speaker, QuébecTechno, Montreal, 2009.
• “Finding Opportunity in Economic Turmoil,” author, Venture Capital Journal, 2009.
• “Venture Capital Global Markets: Can Copy & Paste Investing Decrease Risks Outside Traditional Markets?” panelist, MIT Venture Capital Conference, Cambridge, 2008.
• “The Economic Downtown:  Challenges and Opportunities for Venture Capitalists,” speaker, North American Venture Capital Summit, Québec City, 2008.
• “The Current State of Canadian Venture Capital,” panel moderator, Ottawa Venture & Technology Summit, Ottawa, 2008.
• “Crystal Ball on Canadian Venture Capital,” panel moderator, Ottawa Venture & Technology Summit, Ottawa, 2008.
• “How to Make Yourself Look Good:  Planning Successful Due Diligence in Seeking Venture Capital,” panel co-moderator, BioContact, Québec City, 2008.
• “Cross-Border Financing,” panelist, BioContact, Québec City, 2008.
• Business Development Bank of Canada – Venture Capital Roundtable, Ottawa, 2008.
• “The Best Kept Secret in North America,” keynote speaker, National Optics Institute, Québec City, 2008. 
• “Challenges and Opportunities in Seeking Funding from US VCs:  Ten Practical Tips,” speaker, Montreal InVivo, Montreal, 2008.
• “The Crisis in Canadian Venture Capital:  Its Effect on Québec,” speaker, Institute of Great Leaders, Boston, 2008. 
• “Follow-On Financings – Opportunities and Pitfalls,” panel moderator, Canadian Venture Capital & Private Equity Association Conference, Montreal, 2008.
• “Raising Venture Capital in the US in 2008:  Opportunities and Challenges,” panel moderator, Canadian Innovation Exchange, Toronto, 2008.
• “Seeking Capital in the US:  Venture Capitalists or Strategic Investors – Which to Chose?” panel moderator, BioMedex, Montreal, 2008.
• “Opportunities and Landmines of Investing in and Acquiring Businesses in Canada,” panel moderator, Association for Corporate Growth, Newton, MA, 2008.
• “Future of Venture Capital in Québec City,” interview, Canadian Broadcasting Corporation, Québec City, 2008.
• “Future Venture Capital Financing of Emerging Companies in Québec City,” speaker, Scientific Delegation and Mayor from Québec City, Boston, 2008.
• “Our New Borderless Venture Capital World,” speaker, North American Venture Capital Summit, Québec City, 2007.
• “Planning for a Successful Liquidity Event in the US,” panel moderator, BioContact, Québec City, 2007.
• “Growing a Company into a Liquidity Event,” panel moderator, Ottawa Venture and Technology Summit, 2007.
• “Canadian Regulations Affecting Cross-Border Investments into Canada,” interview, OCRIRadio.com, Ottawa, 2007.
• “How to Navigate Canada’s Byzantine Tax Rules,” author, Venture Capital Journal, 2007.
• “Venture Capital and Private Equity Fundraising in 2007: Opportunities and Challenges," panel moderator, Canadian Venture Capital & Private Equity Association Conference, Halifax, 2007.
• “Partnering With Big Pharma: 2007 Global Perspective,” panel moderator, BioMedex, Montreal, 2007.
• “A Fireside Chat,” interviewed Dr. Paul Kedrosky, Executive Director, William J. von Liebig Center, on “Future of Tech Investing,” Canadian Venture Forum, Toronto, 2007.
• “Open Border to Venture Capital,” co-author, National Post, 2007.
• “Financing Canadian Innovation: Why Canada Should End Roadblocks to Foreign Private Equity,” co-author, C.D. Howe Institute, Toronto, 2007.
• “When Canadian Life Sciences Companies Come to US,” speaker, Gathering of Winners of “Top 10” Award, Waltham, MA, 2007.
• “Globalization and Exit Strategies in the Venture Capital Industry,” panel moderator, North American Venture Capital Summit, Québec City, 2006.
• “Which to Choose and Why: Nasdaq, Toronto Stock Exchange and AIM,” panel moderator, North American Venture Capital Summit, Québec City, 2006.
• “Historical Update and Purpose of North American Venture Capital Summit,” speaker, North American Venture Capital Summit, Québec City, 2006.
• “Is it Time for a North American Investment Zone,” speaker, BioNorth 2006, Ottawa, 2006.
• “Canada's Financing Challenge,” speaker, roundtable at Ottawa Venture and Technology Summit, Ottawa, 2006.
• “Capital Markets Showdown – Which Global Exchange is Right for You,” panel moderator, Ottawa Venture and Technology Summit, Ottawa, 2006.
• “Practical Tips for Initiating Strategic Partnerships in the US,” panel moderator, BioContact, Québec City, 2006.
• “Issues Affecting Canadian Venture Capital Industry,” interview, CFRA Radio, Ottawa, 2006.
• “Challenges and Opportunities in Seeking Funding from US Venture Capitalists: Ten Practical Tips,” speaker, Investment Forum on Marine Technology – Oceans '06 Conference, Boston, 2006.
• “Limited Partners Perspectives on Venture Capital and Private Equity,” panel moderator, Canadian Venture Capital & Private Equity Association Conference, Vancouver, 2006.
• “Under Your Very Nose: US Venture Capitalists with Offices in Montreal,” panel moderator, BioMedex, Montreal, 2006.
• “Meet the Investors,” panel moderator, Canadian Venture Forum, Toronto, 2006.
• “Challenges and Opportunities in Seeking Funding from US Venture Capitalists:  Ten Practical Tips,” speaker, Art of the Start, Montreal, 2006.
• “The Promise and Perils of Seeking Funding from US Venture Capitalists,” speaker, Symposium for Canadian Companies from Maritime Provinces, Canadian Consulate General’s Office, Boston, 2006.
• “Cross-Border Investment and Technology Issues,” panel moderator, Canadian Venture Capital Forum, Boston, 2006.
• “Cross-Border Investment and Technology Issues,” panel moderator, Canadian Venture Capital Forum, New York, 2006.
• “History and Purposes of North American Venture Capital Summit,” speaker, North American Venture Capital Summit, Québec City, 2005.
• “Cross-Border Venture Capital Fundraising,” panel moderator, North American Venture Capital Summit, Québec City, 2005.
• “Program for Cross-Border Fundraising,” round table moderator, North American Venture Capital Summit, Québec City, 2005.
• “Practical Tips on How to Succeed in Obtaining Funding from US and Canadian Venture Capitalists and Pharma,” panel moderator, BioContact, Québec City, 2005.
• “Investing in Emerging Canadian Companies in 2006: Perspectives of US and Canadian Venture Capitalists,” panel moderator, Ottawa Venture and Technology Summit, Ottawa, 2005.
• “Practical Tips for Obtaining Funding from Canadian and US Venture Capitalists,” panel moderator, BioMedex, Montreal, 2005.
• “Cross-Border Venture Capital Investment Issues,” panel moderator, Canadian Venture Forum, Toronto, 2005.
• “When Canadian Companies do Business in the US,” speaker, Symposium for Canadian Companies from Maritime Provinces, Canadian Consulate General’s Office, Boston, 2005.
• “Future of Venture Capital in Canada and Québec,” speaker, North American Venture Capital Summit, Québec City, 2004.
• “Cross-Border Issues in Seeking Venture Capital Funding,” panel moderator, North American Venture Capital Summit, Québec City, 2004.
• “Proposed Structural Changes in Venture Capital Industry in Québec,” speaker, Convokation of Québec Venture Capital Leaders, Québec City, 2003.
• “Cross-Border Venture Capital in Province of Québec,” speaker, Defi Québec Technologique, Québec City, 2003.
• “Key US – Canada Cross-Border Issues for Québec,” moderator, Symposium of US and Québec Province Venture Capital Leaders, Defi Québec Technologique, Québec City, 2003.

Recent Canadian Involvements

• “The Canadian Government’s $400 Million Venture Capital Plan: A Promising Roadmap for Building an Innovation Nation,” author, 2012.
• "Beyond R&D: Canada's Commercialization Challenge and How to Meet It," author, 2011.
• “Canada’s Commercialization Challenge,” presenter, Public Policy Forum Leading Innovation Early-Stage Risk Capital Roundtable, Toronto, 2011.
• Appearance before Jenkins Panel of Canadian Government for Review of Federal Support for Research and Development, New York, 2011.
• Business Development Bank of Canada - Venture Capital Strategic Review, advisor, 2010.
• Appearance before Canadian Standing Senate Committee on National Finance, concerning Bill C-9, Ottawa, 2010.
• Québec City Conference, chair, 2009 – 2012.
• “Reforming Section 116: Key to Opening Canadian Borders to Foreign Venture Capital,” author, 2009.
• Advisory Board of CIX (Canadian Innovation Exchange), Toronto, 2009 –.
• Montreal InVivo Financing Committee, 2007 – 2008.
• North American Venture Capital Summit, chair, Québec City, 2006 – 2008.
• “Proposal for a North American Free Investment Area,” author, 2006.
• Tax Policy Committee of Canadian Venture Capital & Private Equity Association, 2006 – .
• “The Activity of American Venture Capital Funds in the Ontario Market:
  Issues, Trends and Prospects,” advisor, Thomson Macdonald Report for the Institute for Competitiveness and Prosperity, 2005.
• “The Activity of American Venture Capital Funds in the Québec Market:
  Issues, Trends and Prospects,” advisor, Thomson Macdonald Report to Ministere du Dévelopement économique de l’ Innovation et de l’Exportation (MDEIE), Gouvernement du Québec, 2005.
• “Growing the Businesses of Tomorrow: Challenges and Prospects of Early-Stage Venture Capital Investment in Canada,” advisor, Report of Macdonald & Associates Limited (now Thomson Macdonald) for the Business Development Bank of Canada, Industry Canada and the Ontario Ministry of Economic Development and Trade, 2005.
• Advising Québec Government on Proposed Legislation Affecting Québec Venture Capital Industry, 2005.
• Selection of Canadian Technology Companies to Present at Canadian Venture Forum, selection committee member, Toronto, 2004, 2005, 2006.
• Selection of Canadian Life Sciences Companies to Present at BioMedex, selection committee member, Montreal, 2004, 2005, 2006.
• North American Venture Capital Summit, co-chair, Québec City, 2004, 2005.
• Advising Wise Persons’ Committee (appointed by Federal Canadian Government) to Review the Structure of Securities Regulation in Canada, 2004.
• Advising Québec Government on Venture Capital and Institutional Investor Issues, 2003 – 2005.

Teaching

• MIT Sloan Entrepreneurship Development Program, guest lecturer, Cambridge, MA, 2010, 2011, 2012, 2013.
• Harvard Law School, guest lecturer, Cambridge, MA, 2012.
• Harvard Business School, guest lecturer, Cambridge, MA, 2003, 2004.
• Cornell Law School, guest lecturer, Ithaca, NY, 2004.