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Canadian Tech in 100 Words

Agrawal Warns Canada’s AI Lead Is at Risk

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Speaking at the KPMG AI Made Real Summit in Vancouver, Ajay Agrawal warned that Canada’s early leadership in AI doesn’t secure future dominance. The economist and author highlighted massive investments abroad—such as the UAE’s $100 billion push—contrasting Canada’s modest $2 billion fund.

Agrawal urged Canadian firms to redesign workflows, not merely adopt AI tools, calling the moment a “between times” in global transformation. He likened AI’s impact to electricity’s industrial revolution and stressed that judgment—not prediction—remains uniquely human. The keynote concluded with a call for urgency, scale, and strategic action to ensure Canada doesn’t fall behind.

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

Ottawa Invests $210M More in IBM Chip Plant

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The federal government is investing an additional $210 million in IBM’s semiconductor packaging plant in Bromont, Quebec. The funding, delivered via the Strategic Innovation Fund, supports new equipment and collaboration with R&D hub C2MI.

IBM is midway through a $1-billion upgrade plan for the site—North America’s largest semiconductor packaging facility—where chips are assembled, cooled, and protected for use. Ottawa previously awarded $59.9 million to the project in 2024. IBM’s expanded capabilities are key to reshoring chip production amid geopolitical uncertainty, with Bromont supporting U.S. fabrication efforts tied to the CHIPS Act.

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

Shopify Limits Dev Exemption to $1M Lifetime Cap

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Shopify is ending its annual $1 million USD revenue-sharing exemption for app developers, introduced during the pandemic to aid small businesses. Going forward, the exemption will apply only to a developer’s first $1 million USD in lifetime revenue. The 15% share remains on earnings above that.

While Shopify says the change ensures fairness, critics argue it penalizes successful developers and hurts morale. Developers took to social media to question the policy’s timing and intent. Shopify stated the funds will support tools and infrastructure for all partners. Earnings before Jan. 1, 2025, will not count toward the new threshold.

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

Svante, Mercer Advance Alberta Carbon Capture Project

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Burnaby-based Svante Technologies is advancing its carbon capture partnership with Mercer International at the Peace River pulp mill in Alberta. The project, now in the Front-End Engineering and Design Phase 2 (FEL-2), focuses on assessing commercial viability through detailed engineering and cost analysis.

Targeting biogenic CO₂ emissions, the initiative uses low-carbon electricity and recovered waste heat to enhance net reductions. Svante’s structured sorbent filters are designed for scalable, cost-effective industrial deployment. The collaboration highlights Mercer’s climate innovation goals and Svante’s role in enabling sustainable solutions across Western Canada’s pulp and paper sector.

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

Nova Scotia Startup Transforms Retirement Planning

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Optiml, a Nova Scotia fintech startup founded in 2022, is reshaping retirement planning for Canadians. Built by Zac Davies, Max Jessome, and Alex Ingham—family and lifelong friends—the platform emerged after Davies’ uncle struggled to optimize retirement with spreadsheets and vague financial advice.

Optiml offers tailored, tax-efficient plans powered by a proprietary algorithm that simulates thousands of outcomes. It integrates with Wealthica for personalized insights and uses historical data validated by Saint Mary’s University. Designed for Canadians of all ages, Optiml emphasizes clarity, control, and independence from costly advisors. Subscription-based, it’s regularly updated to reflect user needs.

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

C100 Opens Doors for Canada’s Next Tech Giants

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C100 has opened applications for its signature Fellows and Growth programs, aiming to help Canadian tech startups scale globally. The 12-month cohort-based programs offer curated guidance, capital access, and mentorship from top operators and investors, many rooted in Silicon Valley.

Since 2010, C100 alumni have raised over $13 billion and created 23,000+ jobs. Growth Program companies boast a 99% success rate, while Fellows alumni show strong survival and acquisition rates. C100’s mission: strengthen Canada’s tech economy through world-class support. Eligible founders, from seed stage to post-Series A, are encouraged to apply.

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

VEERUM Evolves Beyond Digital Twins with VisOps

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Calgary-based VEERUM has secured $12 million in Series B funding to support global expansion of its Visual Operations (VisOps) platform. The round was led by Veriten and Emerson, with returning backing from BDC and Evok Innovations. VEERUM, formerly a digital twin provider, is now positioning VisOps as a transformative category for industrial work—centralizing visual workflows, improving data collaboration, and accelerating decisions.

The capital will enhance platform capabilities and meet rising global demand. CEO David Lod emphasized VisOps’ role in managing complex assets with clarity and speed. The company views this raise as a major step in scaling its vision.

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

Calgary Extends OCIF with $60M Funding Boost

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Calgary City Council has approved an additional $60 million for the Opportunity Calgary Investment Fund (OCIF), distributed in annual $15 million increments from the city’s Fiscal Stability Reserve. Launched in 2018 with $100 million, OCIF has since attracted $900 million in external investment, created over 3,000 jobs, and activated 594,000 square feet of downtown office space.

The remaining $6.8 million in the fund is expected to run out by late 2025. CEO Brad Parry stated the new capital will enable company scaling and talent growth. Annual progress reviews are mandated before each disbursement.

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

KPMG Canada Launches Agentic AI Engine to Boost Productivity

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KPMG Canada is investing heavily in agentic AI—advanced digital agents that can operate independently—to help Canadian businesses boost efficiency and adapt to growing economic pressures. The new Agentic AI Engine will develop and deploy AI agents across risk, tax, audit, and ESG functions, while expanding collaboration with academia and tech leaders.

Early solutions include underwriting, customer service, and due diligence agents. KPMG also launched new executive training modules with Microsoft and integrated agentic AI into its audit platform and internal systems, including KPMG Kleo. The goal: revolutionize Canadian productivity through responsible AI innovation.

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

Goodlawyer CEO Urges Founders to ‘Burn the Boats’

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Brett Colvin, CEO of Calgary-based Goodlawyer, delivered a compelling keynote at Startup Canada Tour, recounting his leap from corporate law to entrepreneurship. Triggered by personal loss during a law exchange in Vienna, Colvin chose the “safest hard thing” and became a lawyer. But disillusionment followed, prompting his exit to launch Goodlawyer—a legal platform for high-growth firms.

Colvin described early fundraising from 25 individuals and stressed the importance of retaining loyal talent. With support from colleagues and his mother, Colvin’s message was clear: founders must eventually “burn the boats” and go all in.

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