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Canadian Tech in 100 Words

Balsillie-Backed Think Tank Taps New Leaders

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A new think tank funded by former BlackBerry co-CEO Jim Balsillie has appointed ex-Sonos CEO Patrick Spence as chair and policy expert Vass Bednar as managing director. The Canadian Shield Institute, launched with a $10-million donation through the Council for Canadian Innovators, will focus on shaping Canada’s economic and defence policies.

Though affiliated with CCI, Bednar says Shield has a distinct mandate, aiming to influence innovation, infrastructure, tax reform, and strategic sectors like mining and health. Board members include CCI leaders Benjamin Bergen and John Ruffolo. Shield aims to fill a policy vacuum for Canada’s digital economy.

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

B.C.’s Hydrogen Cluster Gets Federal Boost

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British Columbia’s hydrogen sector received a $500,000 boost this week as PacifiCan invested in the Canadian Hydrogen Association to support global expansion efforts. B.C. is home to over half of Canada’s hydrogen and fuel cell companies, employing nearly 1,400 workers. The funding, delivered through the Regional Innovation Ecosystem program, will help attract investment, promote exports, and showcase B.C. innovation internationally.

Minister Gregor Robertson praised the sector’s role in advancing clean energy and job creation. Local leaders, including Ekona Power, continue to scale cutting-edge solutions in low-emission hydrogen production and decarbonization.

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

Google Launches $13M AI Fund in Canada

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Google Canada has launched a $13 million AI Opportunity Fund to upskill over two million Canadians in artificial intelligence. The initiative supports four organizations—Amii, First Nations Technology Council, Skills for Change, and the Toronto Public Library—to expand workforce training across diverse communities.

Amii will lead a national AI education consortium for students, while the First Nations Technology Council and Skills for Change focus on Indigenous and marginalized populations. The Toronto Public Library will offer free AI programs citywide. Google says the investment ensures Canadians are ready for an AI-powered economy, citing potential $230 billion in economic impact.

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

Canada’s Balatro Honoured by Apple for Game Design

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Canadian indie developer LocalThunk has won in the “Delight and Fun” category at the 2025 Apple Design Awards for Balatro, a hit digital card game blending poker, roguelike, and deck-building mechanics. Sharing the award with China’s CapWords, LocalThunk beat out nominees including Ubisoft’s Prince of Persia.

Based in Regina, LocalThunk remains pseudonymous and is represented by publisher Playstack. Balatro has sold over five million copies and previously won Game of the Year at the Game Developers Conference. Apple’s award precedes WWDC and highlights standout creative use of its platforms.

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

Canadian Artists See Spotify Royalties Surge

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Canadian artists earned nearly $460 million in Spotify royalties in 2024—double what they made five years ago, according to the company’s latest economic report. However, Spotify noted it cannot confirm how much of that income reaches artists due to label and distributor contracts.

Ninety-two percent of royalties for Canadian music came from international listeners. Spotify’s Bryan Johnson called this reach “very difficult” in the CD era. In 2024, Spotify changed its royalty policy to only pay tracks with over 1,000 plays. The company also raised Canadian subscription prices following a federal mandate to support local content.

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

Fintechs Push for Access to Better Serve SMEs

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Peloton Technologies CEO Craig Attiwill says small and medium-sized businesses (SMEs), which form Canada’s economic backbone, remain underserved by traditional banks. In an interview, he emphasized fintechs’ growing role in tailoring services for this diverse sector, despite regulatory hurdles.

Attiwill called for open banking, access to central payment systems, and faster progress on real-time payments—standards already adopted in the UK, Singapore, and Australia. Without these, Canadian fintechs remain reliant on banks. Attiwill believes fintechs can thrive by focusing on niche markets and staying prepared for policy change. “There’s room for many winners,” he said.

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

Eavor Secures $138M to Scale Clean Power Tech

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Canada Growth Fund (CGF) is investing up to $138 million in Calgary-based Eavor Technologies to advance its closed-loop geothermal system, Eavor-Loop™, which delivers clean, dispatchable power without fracking or aquifers. The commitment includes an $89 million initial investment and $48 million contingent on performance.

Eavor has made major progress since CGF’s first $90 million investment in 2023, including commercial deployment in Germany and Canadian-developed innovations like Rock-Pipe™ and Eavor-Link™. CGF CEO Yannick Beaudoin praised the deal as a cleantech milestone. This marks CGF’s 13th investment since 2023, bringing its portfolio to $2.7 billion.

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

FISPAN Raises $41M to Expand Embedded Banking

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Vancouver fintech FISPAN has raised $41 million in Series B funding led by Canapi Ventures to scale its embedded banking platform. Founded in 2016, FISPAN integrates banking services into ERP systems like NetSuite and Microsoft Dynamics, streamlining payments and reconciliation for nearly 5,000 businesses.

The company is already trusted by major global banks. CEO Lisa Shields said the funding will accelerate product development and market expansion. Canapi’s Tom Davis joins the board as FISPAN invests in AI, new integrations, and talent growth. Based in Vancouver, the firm continues to build its presence in the North American fintech ecosystem.

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

Qube Expands U.S. Biogas Emissions Monitoring

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Calgary-based Qube Technologies is expanding its emissions monitoring partnership with Roeslein Renewables, deploying its continuous methane detection system across 100 biogas lagoons in five U.S. states. The move follows a successful 18-lagoon pilot, where Qube’s automated sensors replaced manual inspections and improved leak detection.

Roeslein’s facilities convert agricultural waste into renewable gas, but their open-air structures pose monitoring challenges. Qube’s system provides 24/7 detection of methane, H₂S, and ammonia, offering real-time alerts and centralized data dashboards. With a projected ROI within 12 months, the partnership highlights growing demand for climate tech in the renewable energy sector.

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

IBM Launches watsonx AI Labs in NYC

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IBM has launched watsonx AI Labs in New York City, a developer-first hub aimed at accelerating enterprise AI adoption. Located at One Madison, the lab brings IBM researchers together with startups, scale-ups, and global enterprises to co-create agentic AI solutions.

The initiative builds on New York’s status as a global AI hub, with more than 2,000 AI startups and $27 billion in funding since 2019. IBM also announced it will license technology from local firm Seek AI, further boosting capabilities. The lab will support local talent and offer investment access through IBM’s $500M AI Venture Fund.

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