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Canadian Tech in 100 Words

 

Ocean Startup Project Announces 16 Companies for 2024 Challenge

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The Ocean Startup Project has named 16 companies for its 2024 Ocean Startup Challenge, each receiving up to $25,000 in non-dilutive funding and a comprehensive support package. The startups, spanning sectors from sustainable seafood to marine biotechnology, will benefit from business development resources and mentorship.

Natasha Legay, Director of the Challenge, praised their creativity and passion, highlighting their solutions to critical global ocean issues. Seven of the selected startups hail from British Columbia, including Celerity Craft and Fibr.Bio. The Challenge provides key insights into innovation trends in the blue economy.

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

Six Canadian Startups Named in Cleantech 50 to Watch List

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The Cleantech Group has released its 2024 Cleantech 50 to Watch list, highlighting early-stage ventures tackling global environmental challenges. This year, six Canadian companies made the prestigious list: Ayrton Energy and Litus from Calgary, Nxlite and ThinkLabs AI from Toronto, TerraFixing from Ottawa, and Tersa Earth from Vancouver.

Key trends include hydrogen innovation, with Calgary-based Ayrton Energy leading the way with its breakthrough in hydrogen storage. CEO Natasha Kostenuk believes the recognition will help bring more attention to their clean energy solutions. The list offers a glimpse into the future of cleantech innovation.

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

Fable Secures $25M to Boost Inclusive Design and AI Accessibility

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Fable, a digital accessibility platform powered by people with disabilities, has raised $25 million in Series B funding, led by Five Elms Capital. The funding will help expand Fable’s tester community, which includes individuals with vision, mobility, hearing, and cognitive disabilities. Fable partners with global brands like Microsoft and Meta to build accessible digital products.

As AI-driven tools become more prevalent, Fable’s platform addresses potential accessibility gaps by offering feedback from users with disabilities and creating inclusive datasets. CEO Alwar Pillai emphasized the importance of inclusive design in AI to prevent digital exclusion.

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

Texas-Based Improving Opens Canadian HQ in Toronto

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Improving, a Texas-based digital services firm, is establishing its Canadian headquarters in Toronto. The new office, located on East Liberty Street, will house up to 100 employees and marks a pivotal step in Improving’s global expansion. CEO Curtis Hite emphasized Toronto’s tech talent pool as a key factor in the decision.

The company has expanded rapidly in Canada, growing from dozens to 400 employees over the past three years. Ontario’s Minister of Economic Development, Vic Fedeli, praised the move, highlighting Toronto’s thriving tech ecosystem. Improving also supports local startups through its CodeLaunch competition.

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

Rogers Upgrades Cell Network for Taylor Swift’s Eras Tour in Toronto

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Rogers just spent $8 million to boost its 5G network at Toronto’s Rogers Centre, getting ready for Taylor Swift’s six epic Eras Tour concerts in November. Over the summer, the telecom giant worked 16,000 hours to ensure fans stay connected during the shows, where data use is expected to skyrocket.

At previous shows, fans used more than 5.5 terabytes of data—enough to stream all of Swift’s music 4,500 times. With ticket sales projected at US$13 million per night, Toronto’s tourism industry is also set to benefit from the singer’s visit.

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

Calgary’s Innovation Week YYC to Showcase Top 10 Startups

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Calgary’s tech ecosystem is about to light up at the Innovation Week YYC Launch Party on November 21, 2024. Held at Big Four Roadhouse, the event will spotlight ten innovative startups, including BigGeo, ResVR, and Job Autopilot.

These companies, selected by Platform Calgary, are set to pitch game-changing solutions in AI, geospatial intelligence, and real estate. Investors, partners, and the broader tech community will be there, offering a golden opportunity for startups to secure key business connections and investment. Calgary’s tech future is bright, and these ten startups are leading the way.

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

Canadian Banks Lead in AI Adoption, RBC Ranks Third Globally

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Canadian banks are leading the world in artificial intelligence (AI) adoption, with all five of the country’s major lenders ranked in the top 25 of a global AI maturity report by London-based Evident. For the second year, Canada has held the highest overall regional score, ahead of the U.S.

RBC ranked third globally for AI maturity, driven by its Borealis Institute for AI research. TD Bank entered the top 10, moving from 11th to 9th, while CIBC improved significantly, jumping from 41st to 22nd due to better transparency in managing AI risks.

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

Helcim Launches Tap to Pay on iPhone in North America

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Helcim, a Calgary-based payment solutions provider, has launched Tap to Pay on iPhone for North American customers. This feature allows merchants to accept in-person contactless payments using credit, debit cards, and digital wallets directly on their iPhone, without additional hardware. CEO Nic Beique called it a “game-changer” for small and medium-sized businesses.

The launch follows the introduction of Helcim’s gross deposit funding system in September. Helcim, founded in 2006, continues to expand its offerings, which include a Contract Buyout Program and Automated Invoice Payments for QuickBooks.

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

Canada Invests $20M in Kepler’s Aether Satellite Network

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The Canadian government is investing $20 million in Kepler Communications to support the development of the Aether constellation, an in-orbit high-speed connectivity network. This project, valued at $280.3 million, will enhance Canada’s satellite communications with advanced optical intersatellite link laser technology.

The investment, through the Strategic Innovation Fund (SIF), will create 95 full-time jobs and 346 co-op positions at Kepler’s Toronto headquarters. In addition, Kepler received $2 million from the Canadian Space Agency in September 2024. This initiative strengthens Canada’s leadership in space exploration and satellite innovation.

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

Fintech Giant Wealthsimple Plans Major Alberta Hiring Drive

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Wealthsimple, a Toronto-based fintech giant, has announced plans to triple its workforce in Alberta by the end of 2025. The expansion will increase the company’s Alberta-based employees to 105, roughly 10% of its total workforce. Wealthsimple is recruiting for roles in engineering, product development, sales, and client experience.

Alberta’s young population and high average income have made the province a key market, with more than 400,000 Albertans trusting the platform. The Alberta government supports Wealthsimple’s growth, viewing it as a boost to the province’s fintech sector.

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