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Canadian Tech in 100 Words

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.

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.

AI Could Wipe Out Half of Entry-Level Jobs

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Anthropic CEO Dario Amodei has issued a stark warning: artificial intelligence could eliminate half of all entry-level white-collar jobs, potentially pushing U.S. unemployment to 10–20% within five years. Speaking from his San Francisco office, Amodei urged AI companies and lawmakers to stop “sugar-coating” the risks.

Despite AI’s promise—cures for cancer and 10% economic growth—he foresees massive job displacement in tech, law, finance, and consulting. Few in government or industry are publicly acknowledging the threat. As companies deploy AI agents at scale, Amodei fears most workers won’t understand what’s coming—until it’s too late.

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

Lite-1 Wins Inaugural PITCH at Web Summit

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Vancouver startup Lite-1 has won Web Summit Vancouver’s first-ever PITCH competition, topping hundreds of global entrants. Co-founded by Roya Aghighi, Lite-1 develops bio-based pigments using microorganisms to replace toxic synthetic dyes. The clean-tech innovation offers a scalable, sustainable alternative to chemical-intensive processes.

The final round, judged by investors from FPV Ventures, Race Capital, and The Co-Founders Hub, featured three women-led startups: Lite-1, GlüxKind, and VodaSafe. Aghighi called the win “incredible,” noting investor interest and momentum. The PITCH victory positions Lite-1 for global scale and attention in sustainable manufacturing.

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

New Guide Maps Climate Strategy for Tech Leaders

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The Canada Climate Law Initiative has released Climate-Conscious Boards, a new guide urging Canadian tech firms to embed climate risk into core governance. It outlines fiduciary duties, regulatory trends, and disclosure requirements under frameworks like ISSB.

Highlighting leaders such as Shopify, OpenText, and Hootsuite, the guide showcases emissions tracking, ethical sourcing, and renewable energy efforts. Legal and executive voices stress that climate governance must go beyond compliance, citing operational risks and investor expectations. By acting now, boards can enhance resilience and competitiveness. The guide is available via CCLI’s website.

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

Neil Patel Urges Marketers to Trust Data

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Marketing expert Neil Patel delivered a compelling presentation at Web Summit Vancouver titled 20 Charts in 20 Minutes That Will Transform Your Marketing. Backed by data from 150,000 blog posts and 3 million social updates, Patel urged marketers to prioritize data over instinct.

He highlighted shifting search behavior—platforms like TikTok now rival Google—and warned that buyers need 11+ touchpoints before purchase. Patel emphasized the enduring value of SEO, email, and paid ads, and encouraged companies to build free tools as lead magnets. AI helps, he noted, but human content still performs best.

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

AI Pacesetters Surge Ahead with Skilled Workforces

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A new report from Kyndryl reveals most companies are not yet prepared to capitalize on their AI investments. While 95% have deployed AI tools, 71% of executives admit their workforces are unready. The People Readiness Report surveyed over 1,000 senior leaders across 25 industries and found only 14% of firms—dubbed “AI Pacesetters”—are aligning tech use with employee readiness.

Pacesetters lead in change management, skills tracking, and workforce trust. CEOs and CTOs remain divided on AI infrastructure and staffing. Kyndryl urges businesses to integrate skills development and leadership alignment to unlock AI’s full potential.

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

Women-Led BC Startups Shine at Web Summit

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At Web Summit Vancouver’s inaugural PITCH competition, three British Columbia-based startups led by women advanced to the final round. GlüxKind, Lite-1, and VodaSafe emerged from a field of global early-stage companies after two rounds of rigorous judging.

GlüxKind’s Ella stroller leverages AI for safer parenting. Lite-1, co-founded by Sarah Graham and Roya Aghighi, offers sustainable microbial dyes. VodaSafe’s AquaEye, created by Carlyn Loncaric, accelerates water rescues using handheld sonar. All three are BC Tech Association members, a key player in growing B.C.’s tech sector. The final takes place today as Web Summit concludes.

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

Financial Giant Vanguard Launches Toronto AI Lab

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Vanguard has launched a new AI research initiative in Canada in partnership with the University of Toronto’s Department of Computer Science, one of the world’s top-ranked programs. The collaboration will unite Vanguard’s local AI team with professors, post-doctoral fellows, and students to explore practical artificial intelligence applications in financial services.

The initiative will grow Vanguard’s Toronto-based AI team to 90, offer U of T internships, and address challenges like natural language understanding and autonomous decision-making. Leaders from both institutions praised the project’s potential to boost investor outcomes and strengthen Canada’s AI sector.

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