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Canada growing more $1-billion “unicorn” companies, global startup ecosystem report shows

More Canadian companies are remaining in Canada to grow “unicorns” (firms with a $1-billion or more valuation) rather than selling early to foreign entities, according to data in Startup Genome’s 2022 Global Startup Ecosystem Report. Meanwhile, in Atlantic Canada the number of startups slowed for the second year in a row, according to a separate report by Nova Scotia-based Entrevestor.

Bringing Indigenous-led ocean science into Canada’s “blue” economy

Canada’s Department of Fisheries and Oceans has begun funding projects that bring Indigenous knowledge into the development of the country’s “blue” economy, which is based on a sustainable use of marine resources. Their work is part of a larger initiative to help First Nations become more self-sufficient in gathering and using information about such resources.

Debating decrim: hard drugs and hard decisions

Researchers are touting B.C.’s pilot initiative to decriminalize hard drug possession as a model to be applied across the country. They suggest studies to determine the efficacy of this approach to managing the harmful effect of addiction.

The Short Report – June 22, 2022: A big investment in CCRM’s OmniaBio, feds seek to advance digital charter, forging a new oil sands alliance, launching a climate impact accelerator, and more.

South Korea’s Medipost acquires OmniaBio for contract development and manufacturing; Ottawa introduces legislation to bolster trust in the digital economy; a new oil sands alliance combines Canada’s three major oil producers, KPMG Canada and MaRS Discovery District launch a climate impact accelerator program, and more.

Canada looks to own another podium

Waterloo-based business accelerator Communitech has announced the roster of Team True North, which consists of Canadian firms that are poised to grow to at least $1 billion in revenue by 2030. The methodology for identifying these enterprises is similar to the highly successful Own the Podium initiative, which dramatically increased Canada’s Olympic medal count.

What Canada’s new innovation agency can learn from the rest of the world

The new Canada Innovation and Investment Agency faces daunting challenges and will need political autonomy, be free to take risks in picking companies and sectors for funding, and have strong private sector support to succeed in increasing business R&D investment and innovation, say innovation and policy experts.

Indigenous health at the heart of new research network

Indigenous people in Canada have much higher rates of heart disease than the national average, yet they are underrepresented in cardiovascular research initiatives. A new health research network intends to correct this problem by integrating Indigenous community members into investigative work.

Novel energy source has its ups and downs

Canada is well positioned to develop a proposed new technology that could turn high-rise buildings into giant “gravity batteries” for producing and storing energy, improving buildings’ energy efficiency and reducing greenhouse gas emissions, Dr. Julian Hunt, PhD, research scholar at the International Institute for Applied Systems Analysis, says in an op-ed.

Use it or lose it, says report on Canada’s AI advantage

The explosion of artificial intelligence innovation will transform the way research is done, but Canada must expand existing its strengths in AI or risk losing its competitive advantage in the technology, according to a new report by the Council of Canadian Academies.