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Canadian Tech in 100 Words

 

TD Bank Launches eCommerce Platform for Small Businesses

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TD Bank Group has launched TD eCommerce Solutions, a customizable platform designed to help Canadian small businesses sell products and services online. Powered by BigCommerce, the platform offers webstore design tools, inventory management, and payment solutions, providing a seamless and scalable experience.

With eCommerce accounting for nearly 12% of retail sales in Canada this year, TD aims to help businesses easily transition into the digital marketplace. The platform is available to TD Business Banking customers and includes same-day deposits, SEO, and fraud detection.

Want to know more? Check out the source code on Newswire.ca.

Nu:ionic and HybriGenix Partner on Alberta Hydrogen Power Project

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Fredericton-based Nu:ionic Technologies and Vancouver’s HybriGenix have signed an MOU to develop a clean power and hydrogen production facility in Alberta. The project will demonstrate pre-combustion carbon capture, aiming to reduce greenhouse gas emissions by using hydrogen as a fuel source for gas turbines.

Nu:ionic’s Teal Hydrogen technology and HybriGenix’s gas turbine power solutions will generate 100 MW of electricity, with 50 MW delivered initially. Located near Edmonton, the facility will also produce 1,200 kg/day of high-purity hydrogen. The partnership plans to eventually decarbonize the power generation entirely using hydrogen blends.

Want to know more? Check out the source code on CleanEnergy.ca.

Canadian Co-Founder Ilya Sutskever’s Startup SSI Secures $1B Funding

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Safe Superintelligence (SSI), a startup co-founded by Canadian OpenAI co-founder Ilya Sutskever, has secured $1 billion USD in funding just three months after its launch. The funding round, led by NFDG, Andreessen Horowitz, Sequoia Capital, DST Global, and SV Angel, values the AI-focused company at $5 billion USD, according to Reuters.

SSI, which aims to advance the safe development of artificial intelligence, will use the funds to expand its team and increase computational capacity. The company will split its operations between Silicon Valley and Tel Aviv. Sutskever remains focused on AI safety as SSI’s chief scientist.

Want to know more? Check out the source code on BetaKit.

Canucks Name Clio as First Official Away Jersey Sponsor

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Canucks Sports & Entertainment (CSE) announced today that Vancouver-based legal tech company Clio will be the official away jersey partner for the Vancouver Canucks. The multiyear partnership will see the Clio logo featured on the Canucks’ away jerseys starting with the 2024 hockey season at the Young Stars Classic on September 13.

This marks the first time the Canucks have had an official away jersey sponsor, building on their 2022-2023 home jersey sponsorship. Clio CEO Jack Newton highlighted the shared values of teamwork and innovation between the two organizations.

Want to know more? Check out the source code on Techcouver.

Communitech Launches MedTech Accelerator Program for Canadian Startups

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Communitech announced today the selection of eight Canadian startups for the inaugural cohort of its MedTech Accelerator Program. This new initiative, supported by MACcelerate, FedDev Ontario, the Province of Ontario, and the City of Kitchener, aims to help early-stage medtech founders scale their companies through expert coaching and support.

Participants, including AiimSense, Hera Fertility, Medreddie, and others, will receive personalized guidance on growth strategies, compliance, and market development. The program, which runs from September 9 to October 4, 2024, is designed to foster innovation and improve healthcare solutions.

Want to know more? Check out the source code here.

Amazon Unveils Vancouver Atrium, Plans Toronto Expansion

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Amazon announced expansions at its Vancouver and Toronto Tech Hubs, unveiling new features and office spaces for over 8,500 employees. At The Post in Vancouver, Amazon opened a 43,000-square-foot atrium and revealed plans to complete the North Tower by 2026. The Post, with historical significance as Vancouver’s Main Post Office, now hosts more than 4,500 employees.

In Toronto, Amazon introduced Canada’s first in-office Just Walk Out technology store at its YYZ14 location. This AI-powered store allows employees to grab items and leave without waiting in line. Additional office space at YYZ18 is expected to open in 2024.

Want to know more? Check out the source code on Techtalent.ca.

RetiSpec to Bring Alzheimer’s Screening to Optometrists by 2024

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Toronto-based RetiSpec aims to bring Alzheimer’s screening to optometrists by the end of next year. The company, backed by USD $10 million in new funding, uses retinal imaging technology to detect early signs of Alzheimer’s disease, leveraging an AI algorithm to analyze retinal scans.

RetiSpec’s approach offers a less invasive alternative to PET scans and spinal taps, making Alzheimer’s diagnosis more accessible. The funding round, led by iGan Partners and supported by Eli Lilly and Topcon Healthcare, will help the company scale up and work with regulators. RetiSpec is also exploring applications for Parkinson’s disease.

Want to know more? Check out the source code on The Logic.

AI to Transform Nova Scotia’s Healthcare System by 2025

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The Nova Scotia government has announced a partnership with Google Cloud to implement AI-powered digital solutions aimed at improving healthcare delivery by fall 2025. The three key initiatives will include advanced natural-language search capabilities for Nova Scotians seeking health information, tools for healthcare professionals to quickly access patient records, and AI assistance for radiologists in reviewing chest X-rays.

Premier Tim Houston emphasized that this collaboration aligns with Nova Scotia’s healthcare plan to tackle challenges and reduce administrative burdens. Google Cloud will also provide training to healthcare staff, ensuring privacy protection for personal health data.

Want to know more? Check out the source code here.

Toronto’s Wombo Raises $12.2M to Develop AI Content Creation Products

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Toronto-based Wombo has secured $12.2 million in new funding to expand its AI-powered entertainment offerings. Led by Round13 Capital’s Digital Asset Fund, and supported by Nvidia, CoreWeave, and others, the funding will help Wombo grow its team and explore AI-based content creation.

Known for viral apps like Wombo Dream and Wombo Meme, the startup has faced challenges, including a collapsed financing round and copyright issues. Despite these setbacks, CEO Ben-Zion Benkhin says the company is now profitable and aims to push forward with innovative products, including “w.ai.”

Want to know more? Check out the source code on BetaKit.

Toronto Leads North America in Tech Job Growth

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Toronto led North America in tech job growth over the last five years, adding 95,900 positions between 2018 and 2023, according to a CBRE report. The city’s tech workforce grew by 44% during this period, ranking it fourth among the top 50 North American tech markets.

The top three markets were the San Francisco Bay Area, Seattle, and New York. Colin Yasukochi, CBRE’s tech insights center executive director, credits the rise of artificial intelligence for driving job demand. However, Vancouver, Montreal, and Waterloo saw declines in their rankings.

Want to know more? Check out the source code on Techtalent.ca.