A massive science bill in the US could double the National Science Foundation’s budget over the next five years; Canada’s federal funding agencies prioritize research data management with a new policy, Agriculture and Agri-Food Canada launches a new $165.7-million clean tech program, and more.
Topic: Venture Capital
We spoke with Ruffolo about the thesis for his new private equity firm Maverix, why he’s seeing “ridiculous” deal flow, and what it takes to keep high-growth companies in Canada.
The COVID pandemic showed that society is capable of dramatic and rapid change when the situation calls for it. In the current social environment, similar action is needed to turn women’s increasing wealth into a foundation for more equitable entrepreneurship, economic growth and innovation, says Maria Pacella, the managing partner at Pender Ventures, in an op-ed.
With the right focus, policies and funding, Canada could be poised to seize a significant part of the ocean economy’s growth as the globe recovers and rebuilds post-pandemic, says Donald Grant, executive director at the Ocean Startup Project.
VC investment in Canada hit its second highest level last year, Canada’s annual Gairdner awards announced, Quebec SMEs benefit from a $9 million e-commerce boost, Ontario invests in autonomous vehicles, and more.
The Toronto-based National Angel Capital Organization (NACO) will establish the first pan-regional digital hub for investors and entrepreneurs in a custom-built space in the new Platform Innovation Centre being built by Platform Calgary in downtown Calgary.
NPC Ventures is a $50-million investment fund for early-stage Canadian companies developing naturally-derived alternatives to synthetic products. The fund is led by Kristi Miller, who says she believes there exists a “tremendous opportunity for Canadian companies to meet this exponential demand for ‘natural’.”
The Government of Canada seeks to bolster Canada’s biomanufacturing capacity, D-Wave receives $40 million to accelerate Canada’s quantum technology development, the federal government invests in Canada’s longest-ever study on aging, Quebec’s Lion Electric gets ready to break ground on a new battery manufacturing plant, and more.
Genome research receives major funding related to health, agriculture and environmental projects while Canadian Nuclear Labs pursue clean energy technologies for marine operations in Canada and internationally.
Despite its progressive image, the tech startup world is by no means immune to the problem of systemic racism. We must call on both public and private sectors to support underrepresented entrepreneurs as an explicit part of our action plan for economic recovery.