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Canadian Tech in 100 Words

 

IBG Designs Targets Affordable Housing with Tech-Forward Building Blueprints

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Innovation Building Group aims to make it faster and cheaper to build homes for Canadians by combining decades of construction experience with the latest advancements in building technology. The B.C. building designer has launched IBG Designs, an online platform that provides ready designs for multi-tenant buildings that smaller communities and organizations can use to address local housing supply challenges.

“We are sharing our hard-earned knowledge to empower smaller communities and organizations to unlock the housing potential in their own backyards,” stated Rod Nadeaud founder of IBG. “Local builders and organizations can now pursue projects they might not have thought were possible.”

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

Canadian Fintech Aims for ‘Substantial Impact’ with Reveal of Latest Partnership

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London, Ontario’s interVal has announced a partnership with Boston’s FusionIQ, a move which aims to transform wealth-tech by providing financial advisors with new tools to boost growth for their clients. InterVal’s software offers automated insights for wealth management firms, financial institutions, and accounting firms. Meanwhile, FusionIQ’s all-in-one cloud-native platform provides a personalized user experience that connects investors, advisors, and firms within a single digital workflow.

“We are thrilled to partner with FusionIQ, the leading cloud-native wealth management platform with advanced modules tailored for advisors and investors,” stated Trevor Greenway, CEO of interVal. “Together with FusionIQ, we are ready to make a substantial impact.”

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

SkipTheDishes, Just Eat Lay Off 800 Workers in Canada

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SkipTheDishes and its European parent company, Just Eat Takeaway.com, are laying off 800 workers in Canada as part of a restructuring effort. Paul Burns, CEO of SkipTheDishes, announced that 700 Canada-based employees from Just Eat will be cut, along with 100 employees from Winnipeg-based SkipTheDishes.

The layoffs come as Amsterdam-based Just Eat Takeaway.com pulls out of markets like France and New Zealand and considers selling its Chicago-based subsidiary Grubhub. Despite this, the company began a €150-million share buyback in July. SkipTheDishes, founded in Saskatoon, was acquired by Just Eat in 2016 for $110 million.

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

Canadian Fintech Expands Investment Offerings with Latest Launch

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Vancouver-based financial technology firm addy is introducing a credit opportunity onto its digital investment platform for the first time. Addy says it is “committed to expanding investment opportunities that cater to various investor preferences and risk profiles” and posits that credit investments provide an alternative avenue for those seeking returns with lower average risk than equity by offering predictable cash flow through regular interest payments.

Investing in a debt property means investors provide financing for a real estate project in the form of a loan; investors “become lenders rather than equity investors, earning interest on their investment as the borrower repays the loan,” the company says.

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

Government Invests to Help Aerospace Institute Upgrade Programs, Equipment

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The federal government announced an investment of $4.5 million for the First Nations Technical Institute to expand its aerospace training programs and acquire specialized equipment. Funding will support the expansion of FNTI’s aviation programming options by establishing helicopter training curriculum.

“The First Nations Technical Institute is … helping to fill critical gaps in the aerospace and aviation ecosystem,” stated Filomena Tassi, minister responsible for the Federal Economic Development Agency for Southern Ontario. “Today’s support is an investment not only in the future of our aerospace and aviation industry, but is also helping to empower Indigenous youth to build meaningful and impactful future careers in this growing sector.”

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

Canadian Fintech Secures Seed Capital to Fuel Company’s Next Phase of Growth

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Montreal’s YouSet, helping customers shop for insurance online, announced $3.5 million in seed capital from a range of new and repeat angel investors. The investment will be used to expand the company’s team and network of partners. The Canadian fintech also released a new product that allows users to bundle home and auto policies from different insurers to unlock lower prices.

“If YouSet’s growth to date has taught us anything, it’s that Canadians are very eager to find better home and auto insurance at a lower cost,” stated cofounder Xavier Freeman, who serves his startup as chief executive. “We’re dedicated to making it a reality.”

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

How Toronto Tech Plays an Important Role in the Global AI Industry

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Toronto is becoming a key player in the global AI chip industry for both hardware contributions as well as crucial software that powers these advanced semiconductors, a new report suggests. For example, big names like AMD, Intel, and Amazon Web Services are tapping into Toronto’s talent pool to create software that makes AI chips more efficient and competitive.

Local startups like Untether AI and Tenstorrent are also gaining ground, with teams dedicated to writing the code that controls these chips. This synergy between hardware and software is turning Toronto into a hotbed for AI chip innovation.

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

Canada Funds ‘Bioproducts Cluster’ to Convert Agricultural Waste to Energy

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Canada announced more than $6 million in funding through the federal AgriScience Program to support national nonprofit Bioindustrial Innovation Canada. The funding will empower BIC to forge the Bioproducts Cluster, a project which will aim to develop specialized technologies that turn renewable resources like agricultural residues into useful bio-fuels and bio-materials like ethanol and biodegradable plastics.

“This funding will provide new opportunities for our farmers to profit from agricultural by-products that would otherwise go to waste,” stated minister Lawrence MacAulay. The revenue from Canadian industrial bio-products in 2015 was estimated at $4.3B; by 2030, the global bio-economy is projected to reach $10T CAD annually, with Canada’s estimated share up to $240B.

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

Ditching the Physical Wallet, Canada’s Gen Z Prefers to Pay via Digital Methods

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Gen Z in Canada has embraced the mobile wallet, with a majority often leaving their physical wallet at home. Use of the so-called “mobile wallet”—paying via smartphone or smartwatch versus a physical card—is most popular with Gen Z (60%), followed by Gen X (44%), Boomers (27%), and the Silent Gen (10%), according to transaction data from Interac and an online Ledger poll conducted by Hill & Knowlton.

“Choosing your default payment method may feel like a small step, but it can play a big role in shaping Canadians’ ongoing spending habits,” commented Glenn Wolff, Chief Client Officer at Interac.

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

Major Energy Player in UK Taps OpenText to Leverage Cloud Tech Features

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Serica Energy, a key player in the UK’s oil and gas sector, has partnered with Canadian tech firm OpenText to enhance its operational efficiency. By implementing OpenText Content Cloud and Extended ECM for Engineering, Serica aims to streamline its engineering information management, reduce risk, and accelerate project completion times, according to a statement from the firms.

“Energy companies are under intense pressure to deliver more reliable and sustainable energy without compromising the health of their employees, the safety of the communities they serve, or the environment in which they operate,” observes Muhi Majzoub, Chief Product Officer at the publicly traded OpenText.

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