Organization: Fondaction

The Short Report, December 11, 2019: Wexit spooks Wattpad; Montreal’s swelling video-game sector; North promises better next time

The Toronto-based e-publisher Wattpad has chosen to open its second headquarters in Halifax rather than Calgary, due to concerns about Western separatism and the elimination of Alberta tax credits supporting companies in the innovation economy. Five business tax credit programs were cut, including the Investor Tax Credit introduced by the previous NDP government, which provided a 30%…

Quebec government invests $50 million in clean tech VC

The Quebec government has invested $50 million in the privately run Cycle Capital Management (CCM) venture capital fund aimed at clean tech, with the potential for another $25 million if the fund can secure enough matching industry funding. The fund — Cycle Capital Fund III — targets companies at the commercialization stage that are looking…

McGill spin-off secures $3.5 million in financing

DFT Microsystems Canada Inc has secured $3.5 million in financing from a group of venture capitalists to move into full manufacture of its second-generation instruments and prepare for future growth. The funding was provided by Fondaction, iNovia and Zon Capital. The Montreal-based firm develops testing equipment for high-speed semiconductor device interfaces at a fraction of…