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Canadian Tech in 100 Words

 

CRTC Moves to Improve the Cost and Choice of High-Speed Internet in Canada

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The CRTC announced measures to enhance competition in Canada’s Internet market by granting competitors access to large telephone companies’ fibre networks. Starting in February 2025, this decision aims to lower prices and offer more choices for high-speed Internet.

The move follows a public proceeding revealing declining competition in the market. While supporting competition, the CRTC is also seeking continued investments in fibre networks by allowing new builds to be exclusive for five years before opening them to competitors. Rates for fibre access will be finalized by the end of 2024.

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

Canadian Company Conned Crypto from Customers, Commission Concludes

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A B.C. Securities Commission panel found that a Canadian crypto trading platform committed fraud by lying to its customers and diverting roughly $13 million of their assets to gambling endeavours. The company informed customers that their crypto assets were held in “cold storage.” But the panel found that one-third of crypto assets customers deposited between 2016 and 2019 were diverted to gambling sites or the founder’s personal accounts.

The BCSC hired a forensic data analytics firm to determine what happened. After investigating, the firm determined over 900 bitcoins and more than 150 ethers were transferred to personal accounts and gambling websites.

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

Government Seeks Innovative Tech In Response to Canada’s Surging Vehicle Theft

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Vehicular theft has reached a “critical point” in Canada, according to the nation’s own government, “resulting in a billion-dollar cost to Canadian households each year and affecting the safety and security of our communities.” In response, the government is seeking innovative anti-theft technologies from startups to deter and prevent future theft: Canada has launched the Vehicle Theft Prevention challenge through the Innovative Solutions Canada program in collaboration with Transport Canada, Public Safety Canada, and the Royal Canadian Mounted Police.

“By inviting Canadian innovators to submit their solutions, Innovative Solutions Canada aims to foster groundbreaking ideas that will enhance vehicle security and safeguard our communities,” stated federal minister François-Philippe Champagne.

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Latest Launch from Lightspeed Commerce Empowers Retailers with Data-Driven Insight

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Lightspeed Commerce has launched Retail Insights, a tool designed to enhance sales and inventory management for retailers. Retail Insights provides data-driven analytics, the Montreal tech firm says, helping merchants forecast demand, reduce missed sales, and create purchase orders efficiently.

“Retail is transforming at a rapid pace, and retailers need the most advanced insights to be able to keep up with the demand,” stated Dax Dasilva, CEO of Lightspeed. “Through Retail Insights, our customers will be able to clearly view product insights, sales, inventory reports, and generate quick purchase orders to streamline their business operations, allowing them to plan ahead for increased sales opportunities.”

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

Fintech Event Returns to Montreal Next Month to ‘Push Boundaries of Innovation’

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The Canada Fintech Forum returns to Montreal on September 10-11 at the Fairmont Queen Elizabeth. Presented by Portage, the Forum is an international gathering to showcase emerging trends in fintech, new technology solutions for the financial industry, and emerging startups.

Under a theme of “Pushing the boundaries of fintech innovation,” the event promises to bring together over 1,000 participants. Among the speaker roster this year are Shopify’s Harley Finkelstein, Wealthsimple’s Hanna Zaidi, and Lightspeed’s Dax Dasilva.

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

Naqi Logix Recognized for Groundbreaking Neural Earbuds

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Vancouver-based Naqi Logix has been honored in the Innovative Tech category of the TWICE VIP Awards 2024 for its Naqi Neural Earbud, a revolutionary Human Machine Interface (HMI) technology. The earbuds allow users to control devices through facial micro gestures like head tilts or eye blinks, eliminating the need for touch, voice, or screen commands.

Integrated into standard earbuds, this technology can control computers, wheelchairs, smart homes, and AR/VR environments. Former Vancouver Mayor Sam Sullivan, a quadriplegic, praised the device for its transformative impact on accessibility. Naqi’s earbuds were also named one of TIME’s best inventions of 2023.

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

Canadian Secondary Market Rebounds as Investors Seek Liquidity

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After a two-year lull, the Canadian secondary market is seeing renewed activity as shareholders strike more deals to sell their stakes in private companies. The recovery is highlighted by Burnaby-based Clio’s recent US$900-million Series F, primarily composed of secondary shares. The global market is also on track for a record year, with US$68 billion in deals in the first half of 2024.

Investors, pressured to return capital amid sluggish exits, are turning to secondary sales for liquidity. This trend is reshaping the Canadian market, with stigma around early exits diminishing. Experts predict continued opportunity for secondary transactions through year-end.

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

SenseNet and Rogers Partner to Expand Wildfire Detection Across Canada

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Vancouver’s SenseNet, a leader in early wildfire detection, announced a partnership with Rogers to introduce their AI-driven technology in 10 Canadian communities, starting in Alberta and British Columbia. Powered by Rogers’ 5G network, SenseNet’s system integrates gas sensors, smoke detection cameras, AI algorithms, and real-time data analysis to provide early wildfire alerts.

The rollout will begin in communities including Sparwood, Willowvale, and Jasper. “This partnership positions Canada at the forefront of wildfire prevention,” said Hamed Noori, CEO of SenseNet. Rogers also collaborates with UBC and BC Wildfire Service to monitor wildfire indicators using 5G sensors.

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

Miru Raises $20M to Scale Electrochromic Windows for EVs

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Vancouver-based Miru, a pioneer in electrochromic windows, has secured a USD $20 million Series A funding round to advance their dynamic glass roofs for electric vehicles (EVs) and build new pilot lines in North America and Europe. This investment, supported by BDC Capital and TNG Capital Corp, positions Miru to capitalize on the growing EV market as Canada aims for 60% EV sales by 2030.

Miru’s innovative eWindows technology promises to increase EV range by 10% and boost building energy efficiency by 20%, targeting a reduction of 2 Gigatons of CO2 emissions. Miru is currently developing three demonstration plants across North America and Europe.

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

Vancouver’s Lumen5 Launches AI-Powered Voiceover Tech for Content Marketers

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AI-generated voices are advanced enough today that famous artists can have their sonic likeness convincingly mimicked through a fictional track (much to their chagrin). While musicians may lament the evolution of AI voices, the tech is a boon for content marketing at scale.

Video marketing innovator Lumen5 is addressing the intersection of AI and voice applications with its latest launch, AI Voiceover. Through Lumen5, there are over 40 voices to choose from in a variety of tones, styles, and accents. Voiceovers can also be translated into other languages, going as far to align timing with scenes to keep commentary and content in sync.

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