Details are beginning to emerge on cuts to R&D in the April 11 Ontario budget: $1 million for the Mowat Centre (closing), the Institute for Competitiveness & Prosperity (closing) and the province’s Health System Research Fund (clawed back). R$ will investigate these and other cuts further. – Mowat Centre Canada and Japan have signed two…
Topic: Venture Capital
Feds ramp up Trade Commissioner Service to better support scaleups
More help for Canadian scaleup companies is coming from the federal Trade Commissioner Service, amid criticism that government isn’t doing enough.
Growing scaleups into world champions takes more than money, Canadian entrepreneurs say
Canada’s innovation ecosystem needs major cultural and structural changes to adequately support mid-tier firms with the potential to be global champions.
B.C. clean tech firm Carbon Engineering secures $68M investment
The funding represents the largest-ever investment in “direct air capture,” a climate change mitigation technology that captures carbon dioxide directly from the atmosphere.
Canada’s oil and gas industry “waking up” to AI’s benefits
Canadian oil and gas companies are ramping up investment in artificial intelligence and related digital technologies.
Canada’s fastest-scaling private companies linked to cities with tech clusters
Tech clusters and Canadian cities with top tech markets attract the country’s fastest-scaling tech firms, according to research. But Canadian SMEs continue to face challenges scaling up.
OMERS Ventures hires veteran investor Michael Yang to open Silicon Valley office
OMERS Ventures, the venture capital investment arm of OMERS, hired veteran investor Michael Yang as a managing partner. Yang will open a new office in Silicon Valley, where he will lead U.S. operations for the firm. Yang was a managing director at Comcast Ventures since 2008, where he focused on e-commerce and emerging technologies. He…
Canadian Venture Capital and Private Equity Association appoints new CEO
The Canadian Venture Capital and Private Equity Association (CVCA) has named Kim Furlong its new CEO, replacing Mike Woollatt, now the director of strategic partnerships at OMERS Platform Investments. Furlong brings a combined background in business and politics. She spent the last decade leading external affairs for Amgen Canada. Previously, she was Vice President Federal Government…
MoneyTree-PwC report: VC-backed deals up in Q2 as interest in AI soars
The venture capital community in Canada was upbeat in the second quarter of the year, investing in 116 deals from 112 in the first quarter. But the value of investments dropped by 7% to only US$900 million compared to the first quarter. Still, the latest MoneyTree report by PwC Canada and CB Insights noted a…
Canadian financial firms to invest up to $1B to help firms grow locally
A group of top Canadian banks and insurance firms are backing a fund that will help Canadian companies grow locally by filling an identified void in the capital market.