AngelList Enables Initial Coin Offerings, or ICOs
For a new form of funding, initial coin offerings, or ICOs, have been raising money at astonishing speed — amassing about $440 million over two years, mostly for developers of early-stage projects.These crowdsales of new cryptocurrencies give entrepreneurs access to funding from the crowd, and token buyers, in turn, get something akin to a form of equity in the network, since, if the platform becomes more popular, the price for their shares should rise. Read More.
27 Big Industries Where Blockchain Could Be Used
Bitcoin’s existence as a decentralized digital currency is made possible by what’s known as blockchain technology, essentially a public ledger that securely and automatically verifies and records a high volume of transactions digitally. Here are a few of the ways that companies — both large and small — are trying to harness the power of the blockchain. Read More.
$1B+ Market Map: The World’s 196 Unicorn Companies In One Infographic
The largest share of the world’s unicorns (17%) are in e-commerce and/or operate an online marketplace. Rounding out the top three most crowded markets for unicorns are: internet software & services (14%) and fintech (11%). Forty companies became unicorns worth $1B+ or more last year. The most valuable company in the e- commerce / marketplace category is Airbnb ($29B), while Infor and Dropbox are the two most valuable companies operating in internet software & services, worth $10B and $9.4B, respectively. Read More.
Vanedge Capital leads $5 mln Series A financing of Bitfusion
Bitfusion, a U.S. provider of artificial intelligence (AI) infrastructure management software, has secured US$5 million in a Series A financing. The round was led by Canadian venture capital firm Vanedge Capital. Read More.
Moneyball for your Startup Accelerator Application
You have done your research to figure out if your company is a fit for a program like YCombinator, Techstars, UpRamp, or one of the many others in the world and now you are ready to start the online application process. Good friggin’ luck, because you have likely already lost the game. Read More.
Pythian secures $15 mln in financing from BDC Capital
Ottawa-based information technology services company the Pythian Group Inc has closed a $15 million mezzanine financing with BDC Capital‘s Growth and Transition Capital. The proceeds will be used to invest in growth initiatives, including expansion into Europe, and to repurchase shares from several long-term shareholders. Read More.
Infographic: Who Invests in Canadian SaaS?
Time and time again SaaS startups contemplate who they should approach for investment. There’s a general sense in our community that it’s difficult to raise money in Canada. Software startups have this misconception before they do their own digging that they need to go south of the border to raise a round. SaaS founders – before you pack your bags for a trip to San Francisco – have a look at this. Read More.
How CETA Can Help Fill Talent Gap In BC’s Tech Sector
Experts from BC and across Canada say the soon-to-be ratified Comprehensive Economic and Trade Agreement (CETA) can provide some relief by easing restrictions on bringing labour across borders from the European Union’s 28 member countries. It’s forecasted that “the availability of homegrown ICT talent will not be sufficient to meet these hiring requirements.” To fill the talent gap, BC SMEs must look overseas. Read More.
The Kapor Center Releases “2017 Tech Leavers” Report
The Tech Leavers Study is a first-of-its-kind study examining why people voluntarily left their jobs in tech. The Kapor Center for Social Impact and Harris Poll surveyed a representative sample of more than 2,000 U.S. adults who have left a job in a technology-related industry or function within the last three years. The key takeaway is that workplace culture drives turnover, significantly affecting the retention of underrepresented groups, and costing the industry more than $16 billion each year. Read More.
Real Matters looks to raise up to $132 mln in IPO
Founded in 2004, Real Matters runs an online platform that offers proprietary data on real estate services, such as appraisals, mortgage closings and title searches. Real Matters is seeking a $1.1 billion valuation with the issue. Real Matters will account for $100 million of the IPO’s proceeds, including proceeds generated by the greenshoe option. The money will be used to help discharge costs associated with the company’s buy of Linear Title & Closing last year, repay debt, and advance its growth strategy. Read More.
Innovacorp joins in $1.5 mln seed financing of The Money Finder
Halifax-based financial technology startup The Money Finder has raised $1 million in a seed-stage financing. Canadian venture capital firm Build Ventures led the round and was joined by Innovacorp. The Money Finder specializes in cash-flow planning training software and programs for financial professionals. It plans to use the fund raised to add more technical resources to the company’s team. Build Ventures invests in technology opportunities in Atlantic Canada. Read More.
Exiger buys Canadian Regulatory Tech Startup OutsideIQ for $30 mln
The deal, reported earlier by Reuters, is for $30 million, and is one of the top 10 largest disclosed acquisitions of a venture-backed Canadian tech firm since 2014, according to Thomson Reuters data. New York-based Exiger, which has used OutsideIQ’s cloud-based software since 2014, sells technology and services to help businesses comply with complex global regulations in areas such as money laundering and financial crimes. Read More.
PwC Report: Foreign Investment Increase, Deal Activity Decrease
Canadian VC’s invested $623 million ($460 million USD) in Canadian companies in Q1 2017, according to a new MoneyTree Report from PwC Canada and CB Insights. Overall, total deal investment was up 10 percent over Q1 2016’s total of $567 million ($419 million USD). Deal activity dropped 25 percent through the quarter from Q4 2016, However, deals and dollars into Canadian companies had hit eight-quarter highs in Q4 2016, with investment figures fuelled by BlueRock Therapeutics’ $295 million ($225 million USD) biotechnology mega-round. Read More.
WeWork’s Creator Awards Open in Toronto
The funding, which takes the form of loans or equity investments, range between $18,000 to $360,000. The Awards fall into three categories: Incubate, which is open to applicants have a great idea or a specific project that needs funding and assistance; Launch, which is open to applicants with a product that need help expanding to the market; and Scale, which is targeted to already-successful applicants with a proven track record. Applications are due May 12. Read More.
How do investors evaluate founding teams?
Village Capital partnered with the psychometrics consultancy Waypoint People Solutions to survey 500 of their alumni companies–both founders and their teams–around eight personality traits that commonly correlate with company performance. In general, investors rely on past experience and intuition. The survey’s findings provide a rich point for evaluating generally accepted wisdom. Read More.
Zymeworks targets $110 mln in Canada’s first VC-backed IPO in two years
Zymeworks, a Vancouver biotherapeutics provider, has set the terms of its recently filed initial public offering in Canada and the United States. The event marks Canada’s first venture-backed IPO in two years. Zymeworks, backed by multiple VC and strategic investors, plans to raise as much as $110 million (US$82.8 million) from a sale of as many as 5.2 million common shares at US$13 to US$16 per unit, according to the updated prospectus. Read More.
NACO and Partners Launch Resources for NACO Common Docs
Freely generate firs-draft financing sheets with the Compass platform, and take advantage of free scenario-building software to study the outcome of different sets of terms. Take advantage of these resources and standardize your funding process with the rest of the Canadian early-stage ecosystem today.
The INFINITI-Lab Accelerator is Now Accepting Applications
INFINITI and Multiplicity have teamed up to support Toronto’s incredible entrepreneurial community to grow and share new ideas with the world. The INFINITI-Lab is now accepting applications from pre-seed startups with a focusing on the Internet of Things and “Smart Cities”. The program will give entrepreneurs the chance to qualify and participate in INFINITI’s flagship Accelerator program at the global headquarters in Hong Kong. Read More.
New funding announced for Calgary startups
GE Canada, BDC Capital and Ryerson Futures launch fund for Zone Startups Calgary. The fund will help companies in Zone Startups Calgary (ZSC), an accelerator that drives growth of startups in the industrial internet of things, cybersecurity and energy sectors, on their paths to commercialization.”We are excited to join GE and Ryerson Futures to catalyze the ZSC Accelerator Fund and we invite others to join us in funding the active innovation ecosystem in Calgary,” said Michael Denham, President and CEO at BDC. Read More.
Startups, VCs among investors of $80 mln in AI institute Vector
Vector Institute, a new artificial intelligence facility, has been launched at Toronto’s MaRS Discovery District. Chaired by former TD Bank Group CEO Ed Clark, Vector will develop a Canadian economic cluster through partnerships that advance AI research and drive the adoption and commercialization of AI technologies. The Canadian and Ontario governments have committed funding to Vector. Additionally, more than 30 companies agreed to commit $80 million over 10 years. They included venture-backed startups, such as Clearpath, FreshBooks, Integrate.AI and Thalmic Labs, as well as investors, such as Georgian Partners. Read More.
Robotics startup Novarc seeded with $1 mln by Seaspan, BDC
Novarc Technologies Inc, a Vancouver robotics systems platform, has raised $1 million in a seed-stage financing. The round was led by Canadian marine transportation business Seaspan ULC with participation from Canadian venture capital firm BDC Capital. Founded in 2013, Novarc builds advanced custom robots for pipe welding and materials handling, a solution used in the shipbuilding industry. It will use the funds raised to scale commercialization of its Spool Welding Robot technology, expand sales and marketing activity in North America, and continue investing in R&D. Read More.
Nissan teams up with Multiplicity for new IoT focused accelerator
Nissan’s upscale auto brand Infiniti is teaming up with Multiplicity to get the namesake Toronto Lab up and running, and selected Toronto because of its strong startup culture, according to the company. Multiplicity is a non-profit based in the city that offers education and mentorship services to startups and entrepreneurs. It’s a good way to get boots on the ground in a new market, tapping into someone already plugged into the local scene that can help direct Infiniti’s resources to help the automaker best achieve its goal of spotting and fostering talent. Read More.
The Fruits of the Venture Capital Action Plan
The Venture Capital Action Plan (VCAP) was created in 2013 by the Government of Canada to encourage investment by private companies in early-stage companies. Its goal is to help small and medium-sized Canadian businesses grow and prosper. You can find a detailed graphic which points to the structure and distribution of government funds down to specific VC funds by clicking here.
What began as $500 million in commitments from the federal and provincial governments resulted in an additional $3.88 billion of private capital being attracted to the VC ecosystem, or $7.75 of private capital for every $1 of government funding. Read More.
The top 9 VC investors in bitcoin & blockchain
While the recent political environment has injected a degree of uncertainty into the markets, one asset doing particularly well is bitcoin. The digital currency’s exchange rate (the price to buy one bitcoin) has been on a steady upward trajectory since the end of October, breaking the $1,000 mark on New Year’s Day. Read More.
Canadian Marijuana Stocks Soar After Reports That Justin Trudeau Plans to Legalize Weed
Shares of Canopy Growth Corp. were up 11% in trading, Aurora Cannabis rose 10%, Aphria rose 7.9%, SupremePharma jumped 6%, OrganiGram holdings also rose 10%, while Emblem Corp rose 6%. According to the CBC, Prime Minister Justin Trudeau’s government is expected to announce the legislation in the week of April 10. Read More.
Uber rival Grab to raise massive round
Grab, the Singapore-based ride-hailing company that’s a main competitor to Uber in Southeast Asia, is in the process of raising more than $1.5 billion in a round led by Japanese tech conglomerate SoftBank (TKO: 9984), according to a Bloomberg report. The company previously secured a $750 million investment in September, valuing it at about $3 billion and bringing Grab’s total raised to more than $1.4 billion.
News of the funding comes about a month after Ola, a ride-hailing startup based in India, raised $330 million in another round that included funding from SoftBank. With that financing, Ola’s valuation dropped to an estimated $3.5 billion from a peak of about $5 billion, a dip likely fueled in part by Uber stepping up investment in its own Indian business.
Bloated insurance industry disrupted by nimble tech startups
Given a terrible customer service track record and bloated infrastructure, the global insurance industry stands poised to be disrupted. Nimble, tech-driven firms are challenging the status quo, using behavioral economics and technologies like IoT and cloud to target inefficiencies in the insurance value chain ranging from customer acquisition to back-office processing.
Read the Pitchbook Fintech Analyst report, and see the profiles of promising companies in each nascent insurance sector studied, as well as an outline of the burgeoning variety of niche products available. You can get the report directly from Pitchbook’s website.
Brightspark Invites You to Co-Invest
The Brightspark team is thrilled to share their newest investment opportunity. Brightspark is investing in AdHawk, and you are invited to review the company’s information and co-invest with them. AdHawk, a Waterloo-based company, has created an eye tracking technology that is 10x faster, smaller, more power efficient, and less expensive than camera-based instruments. The company has produced the first microsystem that tracks movement of the eye based on an infrared scan of the cornea’s position. Read more.
Get Your Startups to Be Profiled As Breakthrough Brands
Do you know a growing brand making a big impact on the world?
The second annual Interbrand Breakthrough Brands report is being launched in May 2017.The Interbrand Breakthrough Brands report highlights emerging brands that are still growing their influence and impact, but define significant shifts in the marketplace. The report isn’t a ranking or a list; it’s a platform to spotlight brands around the globe that are showing us where we’re headed. Think you know a brand that makes the cut? Apply or share this application. Deadline is March 17th. Read more.
Two Angel investors in Uber Try To Change Company Culture
Two early investors in Uber said their efforts to change the company’s “aggressive” culture from within haven’t worked, and thus are going public in the the hope that others can exert additional pressure on the company.The two investors, Mitch and Freda Kapor of Kapor Capital, wrote an open letter to the Uber board and investors published on Medium Thursday.
“We feel we have hit a dead end in trying to influence the company quietly from the inside,” the two said in the letter. The Kapors decried “toxic patterns” they have observed at Uber, and noted that past promises to improve behavior ultimately returned to “aggressive business as usual.”Read More.
Toronto tech entrepreneurs sell BlueCat Networks for $400-million
Brothers Richard and Michael Hyatt have been business partners for more than 30 years. At grade school in Richmond Hill, Ont, Richard, a self-taught programmer, created video games on his Commodore 64, and Michael sold copies in the schoolyard. In his early 20s, Richard wrote a program to help their father, an engineer, manage risk assessment on complex projects. The software was so good they built a firm, Dyadem International, Ltd., to sell it. IHS Inc. bought the Hyatts out in 2011 for almost $100-million.Now, the Hyatts have struck their biggest deal yet. Read More.
Bridgit’s Co-Founder On Mentorship & Getting Comfortable With “Trying And Failing”
Today, we look at two co-founders from the Waterloo Region building their first company, the construction-focused startup Bridgit. Mallorie Brodie and Lauren Lake speak honestly about the trial by fire building your first business can be.“You absolutely have to be resilient if you’re a young founder that’s starting a company today,” Brodie says. “You don’t get everything right the first time.”“You have to get very comfortable with trying and failing,” she continues. “It’s just part of the game, so make sure that if you feel like you’re having one of those tough days where things aren’t going well, just keep going.” Read More
Ask An Investor: How Do I Prepare For Due Diligence On My Startup
“Due diligence” is a term given to the investigation or audit of a potential investment. Throughout the due diligence process, investors look to confirm all material facts in regards to a sale. Investing in early-stage companies is risky, and conducting due diligence can reveal problems with a company’s business early on, allowing investors to identify the key risks. This will allow them to either develop a risk mitigation plan with the company or to back out of the investment. The following article prepares you to ace the due diligence process. Read More.
Hyatt brothers sell BlueCat Networks for $400-million
One of Canada’s most successful emerging technology companies, BlueCat Networks, Inc., has been sold for almost $400-million to U.S. private equity firm Madison Dearborn Partners LLC in the latest in a string of foreign takeovers in the sector.Co-founders Michael Hyatt, 43, and brother Richard Hyatt, 44, will pocket the majority of the proceeds and retain a minority stake. Michael Hyatt will also remain a BlueCat director. The deal for the company, whose server technology is used by about 1,000 large corporate and government customers to connect their users and devices securely to Internet-based applications and services, will be announced Thursday. Read More
Creating Matching Funds: A Widespread Motion
The Advisory Council’s second wave of recommendations is now available. This second set of recommendations focuses on unleashing Canada’s economic potential by unlocking innovation to drive growth, bringing more Canadians into the labour force, building a highly skilled Canadian workforce for the jobs of tomorrow, and strengthening Canada’s trading partnerships.
Germane to NACO’s mission is to inform public policy affecting Angel investors across Canada. We are certainly glad to see key players and influencers of the ecosystem mirror the views that NACO has also expressed in the past – specifically, the motion of creating matching funds to increase liquidity and fuel both Angels and Angel-backed startups. You can know more of NACO’s role in public policy by visiting our Public Policy Page.
See the Advisory Council’s full recommendation set. Read More.
Vemba raises $5M Series A from Upfront and BDMI
Toronto-based Vemba announced today $5 million in Series A funding from Upfront Ventures and Bertelsmann Digital Media Investments (BDMI), with participation from John S. and James L. Knight Foundation Enterprise Fund. Read more
Celebrating Victoria’s transformation to Tectoria
I’ve watched the transformation of Victoria over the past 25 years. Back in the 1980s, Victoria was a small regional city best known for tourism, a mild climate and being the seat of the provincial government. Now the city has become one of British Columbia’s most vibrant tech hubs – often being called “Tectoria.” This transformation was celebrated last week at the annual VIATEC Technology Awards. Read more
Advice from the Experts on How to Pitch Your Startup to Investors
Startups got the opportunity to pitch their companies in front of esteemed investors and influencers from all over the world at Metabridge, a tech conference held in BC June 9 and 10.
The annual conference for Canadian startups is hosted by Accelerate Okanagan, an accelerator and resource hub for the tech industry. Several hundred people attended Metabridge 2016, which featured the Top 15 startup pitches, panels from venture capitalists, and informative keynotes. By the end of the first day, anyone who has launched, or is in the process of launching, a tech company came away with some amazing insight about growing his or her business. Read more
The Ups and Downs of Investing in Today’s Energy Tech Startups
At the risk of stating the obvious, the effects of the commodity price crash are severe.
Within Alberta, the epicentre of the nation’s faltering oil economy, jobs continue to be shed at alarming rates and the pain is no longer localized. The effects of overstocked, undervalued oil reserves are increasingly being felt across numerous regions and sectors. Read more
Justin Trudeau touts Canadian tech industry at new Microsoft centre in Vancouver
Vancouver’s new Microsoft Canada office launched Friday in a ceremony attended by the prime minister, premier and mayor, all of whom welcomed the U.S. multinational that will provide work for 750 employees when the office is fully staffed. Read more
Canadian government will invite public feedback as it builds innovation strategy
Canadians have begun to fancy themselves as being among the world’s most innovative and outside-the-box thinkers. This progress can’t continue however without a consistent stream of support from all levels of government. Read more
FedDev Ontario Supports Innovative Clean Technologies in Brantford
Today, Bryan May, Member of Parliament for Cambridge, visited GreenMantra Recycling Technologies Ltd.’s new plant expansion, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario. While touring the facility, MP May announced FedDev Ontario funding of up to $600,000 in GreenMantra Recycling Technologies Ltd. Read more
Toronto-based Overbond raises $7.5 million seed round
Toronto-based Overbond, a platform for digital bond issuance, has raised a $7.5 million seed round from Morrison Financial Services Ltd. Read more
Health platform League lands $33-million in VC funding
Toronto’s League Inc. has announced one of the largest Series A venture capital funding rounds in Canadian tech history with a $33-million investment lead by OMERS Ventures. Read more
Ask @StartupCFO: how do I make my pitch stand out to investors?
The blogosphere is littered with posts on how to prepare an investor pitch. Many VC firms have even posted their preferred format. Imagine if you’re a VC hearing three pitches a day, five days per week. That’s over 700 pitches per year! If every one followed the same format, you’d tune out. Read more
50 Questions Angel Investors Will Ask Entrepreneurs
Entrepreneurs need to be prepared when pitching their startup companies to angel investors by anticipating the questions they will receive. The failure to have thoughtful and reasonable answers to these questions will decrease the likelihood of the entrepreneur’s company getting funded. Read more
Montreal-based Inocucor raises $6 million in extended Series A
Montreal-based Inocucor, which develops sustainable microbial crop accelerators, announced the closing of its Series A round with at $6 million. Read more
Knowledgehook named Business News Network’s Top Disruptor of the season
Throughout the entire season of The Disruptors, there have been 38 startups pitching on the show — from FinTech to wearables to VR, startups from diverse industries had a chance to show how they were forcing traditional industries to rethink the status quo. Read more
Vancouver tech startup attracts U.S. investors despite vow to stay in Canada
A Vancouver startup that hopes to improve the process of building mobile software apps has attracted one of Silicon Valley’s top venture capital firms to lead its Series A funding round – on condition that it can stay put in Canada. Read more
ProSeeder Technologies and eShares Announce Strategic Partnership
ProSeeder Technologies announced today a strategic partnership with eShares, Inc. The partnership provides companies and their shareholders an integrated solution for managing private equity ownership. Read more
New platforms make it easier for investors to get data on private companies
When worried investors ask the management of a privately held company how it’s doing financially, there’s often a scramble to provide them even the most rudimentary information.
“We call it ‘interns and Excel’ – people will get on the phone and say, ‘I haven’t heard from you in three quarters,’ and they’ll send them a PDF or a Google spreadsheet,” said Raymond Luk, founder and chief executive officer of Hockeystick.co, a financial-technology startup that helps companies share financial and other relevant data with investors. Read more
Techvibes: Wealthsimple Launches Portfolio Review to Give Investors a Second Opinion
Online investment manager Wealthsimple has launched a free second opinion product for investors. Read more
BetaKit: Novacap closes its Industries IV Fund at $470 million
Longueuil-based Novacap, Quebec’s largest private equity fund manager with $1.5 billion in assets, closed its Novacap Industries IV Fund at $470 million. Read more
Techvibes: FreshGrade Raise $11.6 Million to Connect Teachers, Parents, and Students
FreshGrade, an education platforms for teachers, parents and students, has finalized an $11.6 million Series A round. The round was led by Relay Ventures. Read More
BetaKit: #StartupDay Brings Startups and Gov’t Together to Shape Canada’s Innovation Strategy
Last week, 1,500 startup founders, policy makers, and industry leaders touched down in Ottawa for Startup Canada’s Day on the Hill, which brought all stakeholders together to shape Canada’s innovation agenda. Read More
Anges Québec: Soundbite Medical Solutions Launches R&D Activities in Sherbrooke
Soundbite Medical Solutions has chosen Sherbrooke to officially launch its operations and start an important phase in the development of a cutting-edge medical device that will replace bypass surgery and amputations for treating blocked arteries. Read More
BetaKit: With New Seed Funding, Hockeystick Looks to Compete with CB Insights for Startup Data
Raymond Luk agrees with my conceit that Canadian entrepreneurs have a natural predisposition towards building B2B companies. “For Canada, and first-time entrepreneurs, and the state of our ecosystem, B2B is a real natural fit,” he says, adding that startups looking to solve real problems for other businesses often have a quicker path to revenue. Read More
Fortune: What the Most Successful Entrepreneurs Get Right About Angel Investors
The ever-growing number of AngelList done deals can make it look like getting funded is about as easy as applying for a job on LinkedIn: Post your startup’s profile, do some research on the best Angel investors for a particular industry, send a few personalized notes to the right investors, and let the money come pouring in. Read More
Marketwired: FedDev Ontario Supports Angel Investor Network in Downtown Toronto and Southern Ontario
Today, Adam Vaughan, Member of Parliament for Spadina−Fort York, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, announced funding of up to $300,000 in Brightspark Investors Club Ontario to expand its Angel investor membership. Read More
The Globe and Mail: In a Tough Funding Climate, Filmmakers Find Creative Ways to Raise Money
For horror-film director and producer Tricia Lee, the scariest part of her third feature, One Drop, was finding the cash to make it. Feature filmmakers in Canada have traditionally relied on grants. But they’re tough to get for newer filmmakers because “everybody applies to them,” Ms. Lee said. Read More
TechCrunch: Wattpad Sets its Sights on Brands, Publishers and Hollywood with Wattpad Studios
Wattpad, a popular site where authors can share stories with readers, is announcing its broader ambitions with the launch of a new division called Wattpad Studios. The company describes Studios as a way for Wattpad to partner with the entertainment industry. Read More
Vancouver Sun: Financing Evolves to Let Companies Capitalize on the Crowd
Before Guusto co-founders Skai Dalziel and Joe Facciolo tried crowdfunding to raise money for the online gift-giving startup they’d spend two years building, they tried the usual venture-capital routes. They had put their own money in, recruited some friends and family and were making the rounds of startup pitch sessions to woo potential Angel investors. Read More
BetaKit: BMO and DMZ Partner to Launch Four Month Next Big Idea in Fintech Program
BMO and the DMZ have announced a partnership to identify — and support — the next big Canadian FinTech startup. The program, called The Next Big Idea in FinTech, will provide six startups with a four-month placement at the DMZ, an opportunity to pilot their technology with BMO, as well as connections with venture capital firms. Read More
Techvibes: Why Canadian Fintech Startups Can’t Live Without Incumbent Financial Institutions
Canada is abuzz with fintech startups who offer highly attractive alternative financial solutions to consumers across Canada. With more than 80 fintech companies attracting nearly $1 billion in investments since 2010, a growing number of fintech companies are partnering with long-standing financial institutions to successfully launch their programs across Canada. Read More
The London Free Press: Investors Want More Than Returns, Exec Says
When small businesses pitch to investors for cash, it’s not all about the money. NACO member and managing director of the Southern Ontario Angel Group, John Pollock, says that investors are looking just as hard at the character of the businessperson, and an ongoing relationship, as they are the bottom line. Read More
Business Vancouver: Vancouver’s Mobify Pursues Machine Learning, Acquires Fellow B.C. Startup Pathful
Mobify is keeping its expansion into the realm of artificial intelligence (AI) close to home. The Vancouver-based startup announced Monday (April 19) it has acquired fellow local tech company Pathful in a bid to acquire technology capable of advanced machine learning to study and adapt to users’ behaviour. Read More
BetaKit: Two Day Traction Conference Featuring Speakers From Hootsuite, Y Combinator
“Accelerate your business growth and revenue.” This is the succinct slogan of the Traction conference returning June 22 and 23 to Vancouver. Geared for companies of any size (but particularly hitting the streams that startup founders love), the event has grown from one day (last year) to two and the list of premier speakers is growing, including crowd pleasers from Y Combinator, Hotwire, Hootsuite, and more. Read More
Techvibes: Two More Canadian Startups to Pitch Investors at Google’s Annual Demo Day
Two Canadian startups are hoping to follow in the footsteps of Waterloo’s Bridgit, who recently took the top prize at Google for Entrepreneur’s Demo Day in Silicon Valley. Founded by Lauren Lake and Mallorie Brodie (pictured), Bridgit won Google for Entrepreneur’s inaugural Demo Day: Women’s Edition in December. Read More
Canada News Wire: Venture Capital Action Plan Secures $1.35 Billion in Capital With Final Closing of HarbourVest Canada Growth Fund
The Business Development Bank of Canada (BDC) is pleased to announce that the Venture Capital Action Plan (VCAP) has completed its goal of supporting the close of four private sector-led funds of funds with a total of $1.35 billion under management. Read More
Communitech: Mayors Cite Candian Social Values in Touting Toronto-Waterloo Region Corridor
After escaping an Ontario snowstorm and landing in the sun-kissed global mecca of innovation, the mayors of Toronto and Waterloo Region faced their first challenge in building Canada’s answer to Silicon Valley. Read More
The Globe and Mail: In a Tough Funding Climate, Filmmakers Find Creative Ways to Make Money
For horror-film director and producer Tricia Lee, the scariest part of her third feature, One Drop, was finding the cash to make it. Feature filmmakers in Canada have traditionally relied on grants. But they’re tough to get for newer filmmakers because “everybody applies to them,” Read More
BetaKit: Startup Canada Podcast: Ray Walia Talks Vancouver’s Startup Scene
“You can have an amazing life and have an amazing career under somebody’s umbrella or you can be the one holding the umbrella and shaping the world for other people.” Ray Walia chose the latter. Read More
Maclean’s: Why ‘Sucking Up’ to Foreign Tech Companies is a Good Idea
It’s been gratifying to see so many thoughtful Canadians weighing in on how our country can be more competitive in the global innovation economy. I say “our country” even though I have lived and worked in California for almost 20 years. Read More
JONES DesLauriers Blevins: JONES DesLauriers Blevins Partners with Maple Leaf Angels and MLA48
JONES DesLauriers Blevins (JDB) is pleased to announce a new partnership with Maple Leaf Angels Corporation (MLA) and MLA48, MLA’s Angel investment fund. MLA, a network of experienced entrepreneurs and investors, offers coaching, mentorship, networking opportunities and access to capital for seed and early-stage technology companies in the information, communication and entertainment sector. Read More
BusinessWire: Permission Click Secures $1.75M in Seed Funds from Friesens Corp. and Others
Permission Click Inc. today announced the closing of a $1.75M seed round from investors, including Friesens Corp. and Real Ventures, among others. The Permission Click digital platform helps schools and parents better coordinate permission slips, forms and payments required for student participation in school activities and events. Read More
Innovation Cluster: Innovation Cluster’s Path to Building a Successful Business – A Smash Hit
Our ground-breaking course designed to help Peterborough area entrepreneurs get their businesses up and running is drawing rave reviews from its first cohort of 21 participants. The four week course, The Path to Building a Successful Business, was the brainchild of the our programs officer, Carey McMaster, who sensed a need among the community’s fledgling entrepreneurs, and worked to fill it. Read More
The Toronto Star: Alive and Kik-ing
Ted Livingston started the company with a $25,000 inheritance from his grandfather and money he saved from co-op jobs. “There were no salaries,” says Livingston. “Of course we’re not going to pay each other,” he says of his partner, Chris Best. Read More
BetaKit: Canadian Bar Association Partnering with MaRS LegalX Cluster
As part of the Canadian Bar Association’s legal conference this summer, MaRS’ LegalX cluster will be launching an event showcasing the future of legal tech. Legal tech startups will attend the conference and showcase their products to groups of investors as well as attending legal professionals. Read More
Maintenance Assistant: Maintenance Assistant Secures $5 Million Series A to Accelerate Record Growth
Maintenance Assistant Inc, the industry leading provider of cloud-based maintenance and asset management software, today secured $5 million in a Series A round led by BuildGroup. The funds will be used to fuel the company’s growth in mid-market and enterprise segments where customers have for years been forced to choose from a handful of complex, legacy solutions. Read More
Inc.: What You Need to Know About Moving Your Startup to Canada
When Donald Trump and Hillary Clinton emerged as the victors of last week’s Super Tuesday polls, the number of Google searches for “moving to Canada” spiked considerably. Social-media activity—including Twitter users announcing their great migration—was centered on Trump’s political ascendance. Read More
GreenSky Capital Inc.: Pyrowave Inc. Receives $1M+ of Funding from SDTC for Commercial Scale Demonstration
On Friday, Sustainable Development Technology Canada (“SDTC”) announced $1.032M of financial support for Pyrowave Inc. In Q4 2015, the GreenSky Accelerator Fund led a $790,000 syndicated financing round. Read More
Medium: The One Question Every Angel Investor Should Be Asking
Angel investors fund approximately 70,000 deals a year in the US, deploying north of $24 billion annually. Most of the investors in those deals expect to lose money on their investment. But it doesn’t have to be this way. Read More
First Round: Transform Employee Equity Compensation in Two Steps — Here’s How
Once upon a time there was a tech startup in the Valley. Its steady hum of growth turned into a loud buzz in the press. Investors poured in money every six months at a 3X valuation. Its employees were exhilarated and talked of “exercising options,” “going all in,” and “getting a good tax treatment.” Read More
Anges Québec: Members of Anges Québec Provide $200,000 in Funding to Support Startup Operations at ISIOS
After two years positioning its services in its target market, ISIOS has obtained an initial $200,000 in funding, which will enable it to continue its startup operations. The new capital will allow the firm to boost the marketing of its ISIOS software and pursue its continuous improvement program for its technology platform. Read More
The Globe and Mail: Canadian Tech Unicorn Hootsuite Gets Written Down by Fidelity
Fidelity Investments cut the value of its stake in Hootsuite Media Inc., one of Canada’s most highly valued technology startups, in a sign that lowered U.S. investor expectations are making their way north of the border. The Boston asset manager wrote down its investment in Hootsuite, maker of social media marketing software, by 18 per cent. Read More
Ready to Rocket: 2016 ICT Emerging Rockets
Ready to Rocket is a unique business recognition list that profiles British Columbia technology companies with the greatest potential for revenue growth. Each year, based on analysis of trends that will drive growth in the information technology sector, Rocket Builders identifies the top private companies that are best positioned to capitalize on the trends for growth. Meet the 2016 ICT Emerging Rockets. Read More
The Globe and Mail: To Revive Canada’s Economy, Reward Those Who Pitch In
Vaudeville ain’t what it used to be, nor is the Canadian economy. But the economy can bounce back, and this week Finance Minister Bill Morneau announced something to help it do just that. Largely lost in the fallout when Mr. Morneau revealed that this year’s fiscal deficit will be much larger than expected was the creation of a special agency – the Advisory Council on Economic Growth. Read More
Techvibes: 2016 Fundica Roadshow Arrives in Toronto on March 4 at Telus House
The 2016 Fundica Roadshow, a national initiative with 10 city stops across Canada, today announced the details of its first Toronto stop at the Telus House on March 4th. The Fundica Roadshow gives startups and SMEs the opportunity to pitch their businesses – and potentially secure financing – to a panel of financial institutions, venture capitalists, Angel investors, government organizations and private lenders. Read More
Communitech: Communitech NYC Key to Helping Startups Go Global Faster
Fish where the fish are. It’s a dusty old saying with an obvious message – if you want to land the big one, you need to go to where the big one is most likely to be. Among the many big things Canada is known for (including actual fish, if that’s your thing), customers and markets don’t rank highly. It’s why one of the first things any Canadian entrepreneur serious about building a scalable business does is get on a plane and fly south. Read More
BetaKit: Why Investors Need to Pay More Attention to the Water Tech Industry
A month ago, prime minister Justin Trudeau announced that the Canadian government was dedicating $12 million to water tech projects that bring both industry enterprises and academic researchers together. As the United Nations warns of serious water scarcity within the next fifteen years, innovative cleantech startups have the potential to be a major part of alleviating the issue, while governments, inevitably, make policy changes. Read More
Maclean’s: Why Does Trudeau Keep Sucking Up To Foreign Tech Companies?
Prime Minister Justin Trudeau touted technological innovation at the recent grand opening of Google’s new Canadian development headquarters, a refurbished rubber factory in Kitchener, Ont. What’s happening here “really matters,” Trudeau opined, and not just for the region, but Canada and the world. At one point, he even gamely peered through a “virtual reality” Cardboard viewﬁnder, which, once a smartphone was slipped inside, offered a rudimentary glimpse of Google’s vision of the future. Read More
Anges Québec: Chronogolf Raises $1.5 Million
Today, we are proud to announce that Chronogolf has raised $1.5 million in its second round of financing. This will help the company further develop its leadership position as an all-in-one golf course management solution and marketplace. The golf industry is changing! Modern golfers are evolving and the role of golf managers has become increasingly complex and stressful. Read More
The Huffington Post: Trailblazing Women: Jenny Tooth OBE, CEO, UK British Angels Association
Jenny Tooth OBE is CEO of the UK Business Angels Association, the trade body for Angel and early stage investing, representing over 15,000 investors around the UK. Jenny has over 20 years’ experience of facilitating SMEs access to investment, both in the UK and internationally. She ran her own consultancy on Access to finance for SMEs, including spending nine years based in Brussels, working closely with the EC. Read More
Winnipeg Free Press: More Funds Flowing From Angel Investor Funds
No one will ever say Winnipeg is a hotbed of Angel investing activity but there’s no denying there’s more money and more deals getting done these days. Late last year, the early stage medical device company, Cubresa Inc., closed a $3.5-million round of financing with most of the funds coming from a Winnipeg Angel group called Manitoba Knights. Read More
The Chronicle Herald: THE HIDDEN TRUTH: At the Heart of Business
We have it wrong. How we work isn’t working, but we keep on doing it. I am a firm believer that entrepreneurs are the backbone of our province’s road to prosperity. But three things are working against us: First, entrepreneurship is an anxiety-ridden endeavor that creates enormous levels of stress and poor judgment. Read More
The Globe and Mail: New Crowdfunding Rules Widen Pool For Canada’s Private Capital Markets
Several new crowdfunding rules across Canada are opening the door to retail investors looking to put dollars directly into companies that want to raise funds in the private capital market. Until recently, the majority of retail investors were locked out of Canada’s private capital markets – mainly for their own protection. Read More
GeekWire: 5 Tips For First-Time Female Angel Investors Looking to Support Entrepreneurs
Katherine Hague wants more women investing in startups. The Female Funders founder stopped by Seattle’s Columbia City Club on Thursday morning for the final stop of her eight-city Female Funders breakfast series. Read More
Financial Post: Move Over Kickstarter, Equity Crowdfunding Lets You Get a Piece of The Action, Not Just a Lousy T-Shirt
Judeh Siwady had Spacefy ready for market in February 2015, but he was looking for a non-traditional means of financing the Toronto-based company he founded in 2014, something that would connect with the current Internet zeitgeist. Read More
BetaKit: Canadian VC Investments Hit $2.6 Billion in 2015 Up 11% YOY
Thomson Reuters has so far reported good news for Canadian VC investment in 2015; the organization first reported that Q1 2015 was the best year for Canadian startup investment since 2007, while the first three quarters of VC investment in 2015 was at a a 14-year high. Read More
Canadian Securities Law: The TSXV Plans to Revitalize Canada’s Public Venture Market
Canada’s public venture market has traditionally served as a catalyst of growth for many small-cap and early-stage companies. However, it has experienced a recent decline due to various factors, including a sustained collapse in commodity prices. Read More
Canadian Business: Why the Low Loonie Could be Great News for Canada’s Tech Scene
Canada’s tech sector will likely see a flurry of foreign investment in 2016, as the tumbling dollar turns homegrown startups into absolute bargains for American venture capitalists. The loonie’s plunge below 70¢ against the U.S. dollar in mid-January was bad news for energy companies but will boost the competitiveness of our high-tech firms. Read More
The Globe and Mail: Scared Canadian Investors Sitting on Estimated $75-Billion in Extra Cash
Canadians are holding a record $75-billion in cash amid an “ocean of fear” about investing in the markets, a new study finds. That means they could miss out on billions in payback, warns the study released today by Canadian Imperial Bank of Commerce economists Benjamin Tal and Royce Mendes. Read More
Bloomberg: Shoes.com Looks to Raise at Least $25 Million for Acquisitions
Shoes.com, the Canadian Web retailer that almost tripled its revenue to C$235 million ($165 million) last year, has plans to raise from $25 million to $50 million in private funding to help pay for acquisitions. The company, which competes with Zappos.com and Shoebuy.com as well as online retailers such as Amazon.com Inc., is looking to raise the money by the end of March from existing investors and a strategic partner, said Chief Executive Officer Roger Hardy. Read More
BetaKit: Female Funders Kicks Off Breakfast Series to Inspire 1000 New Angel Investors
Kicking off an eight-city event in Toronto, Katherine Hague stood before a full room of female investors — both active and aspiring — to present what she calls her “passion project that spiraled out of control.” For the next few weeks, Hague is making stops in cities across North America to host the Female Funders Breakfast Series as part of her mission to help 1,000 women pursue Angel investing. Read More
The Wall Street Journal: As Angel Investors Pull Back, Valuations Take a Hit
Startup valuations drop to lowest level since 2012 as investors grow more cautious. A dose of reality may be hitting Angel investing. After valuations for young companies seeking funding soared to five-year highs last year, some Angel investors—or wealthy individuals who buy stakes in startups—are starting to pull back. Read more
CBC: BC Tech Summit Hopes to Push Province into the Future
Greg Caws calls home a cattle ranch in the East Kootenay community of Wardner and says he appreciates the perspective of rural British Columbia, where relatives have worked as miners and loggers. He’s also an entrepreneur who champions the technology sector with unsung stories of companies marrying those traditional industries with cutting-edge innovations. Read More
Linkedin: The Metric That Matters For Startups in 2016
2015 is the end of an era, the era of startup growth at any cost. In 2016, the question that will immediately follow, “What is your annual growth rate?” will be “What are your unit economics?” This change in investor mentality is catalyzed by the increasing cost of startup capital. Read more
CBC: Trudeau Announces Funding For Water Research in Ontario
The federal government is investing up to $12 million in the Southern Ontario Water Consortium, Prime Minister Justin Trudeau announced Thursday morning at the University of Waterloo. The SOWC is a group of post-secondary institutions in the province that are working on new clean-water technologies. Read More
Communitech: Trudeau at Google: “What’s happening here really, really matters”
Prime Minister Justin Trudeau took the stage at the grand opening of Google’s Canadian engineering headquarters in Waterloo Region this morning with a clear message: The best path out of economic hardship is to cultivate innovation. Read more
Business Standard: 4 Mistakes First-Time Angel Investors Make
A lot can go wrong if you’re not careful about where you make your Angel investments. Making these mistakes is certainly going to force you to learn real-world economics the hard way, which makes it smart to avoid making these mistakes in the first place. Read more
Maple Leaf Angels: MLA48 Angel Investment Fund Completes Third Investment
MLA48, Canada’s first Angel investment fund committed to providing a 48-hour turnaround on investment decisions, has announced its third investment in ConferenceCloud, an innovative digital platform that provides a virtual solution for the next generation of hybrid conference events. Read More
The Chronicle Herald: NowNS: More Cash Needed for Nova Scotia Startups
Ross Finlay took some management accounting courses at university, but you really don’t need an MBA to understand when he explains the numbers. In its Now or Never report, Ray Ivany’s commission on the future of Nova Scotia called for 4,200 startups in the near future, a 50 per cent increase over the current 10-year average. Read More
TechCrunch: What to Know Before You Co-Invest
One of my investors candidly asked me recently, “Shelly, if I have an opportunity to invest with people I’ve just met, how do I avoid getting screwed over?” This is a good question; for most investors interested in startups, co-investing is the de facto way to invest. Read more
BetaKit: Reuters: Canadian Deal Activity at Second-Highest Level in 2015
According to new data from Thomson Reuters, deal activity outside of Canada from the country’s top pension funds, banks, investment management firms, and insurers, made Canadian deal activity the second-highest ever in 2015. The report showed $278.69 billion USD worth of deal activity involving Canadian entities in 2015, noting that this activity was up 37 percent from last year. Read More
The Huffington Post: A National Angel Investor Tax Credit Program Will Spur Innovation
This week the Honourable Chrystia Freeland announced a $50-million handout calledCanExport. In his coverage, Terry Dawes mischaracterized my positions that we need to stop subsidizing private sector risk and make investments in 21st Century infrastructure if we want to spur innovation and improve productivity in Canada. Read More
The Globe and Mail: Too Many Canadian Startups are Bought Out. Here’s How to Change That
Last year’s $131-million Shopify IPO signalled a lot more than just a big payday for the Ottawa-based e-commerce software company. It was proof that Canadian-born businesses can launch and mature in this country – something many young companies with roots here never imagined. Read More
Techvibes: Female Funders Touring North America to Inspire Next Generation of Women Investors
Female Funders will be hosting an eight-city breakfast series across North America from January 19 to February 4. Female Funders is an organization dedicated to inspiring and educating the next generation of female Angel investors. Read More
The Globe and Mail: Rookie MP Bardish Chagger Faces Innovation and Taxation Challenges in Small-Business Portfolio
In her role as Canada’s new Minister of Small Business and Tourism, Bardish Chagger, a 35-year-old first-time MP from Waterloo, Ont., is tasked with helping small companies thrive. After just six weeks on the job, Chagger is getting up to speed on the issues in this wide ranging portfolio. Read More
Techvibes: #TechIsBack: Reflecting on Three Words that Defined Canadian Tech in 2015
Was 2015 the year that tech officially made its comeback in Canada? It depends on who you speak to, but for many people the last twelve months have, indeed, stood out as a remarkable time of resurgence for the sector. One four-week period, in particular, set the tone for much of the year. Read More
Anges Québec: Smart Clothing Leader Hexoskin Closes over $1.3M, Accelerates Commercialization of Sports and Medical Research Health Monitoring Platform
In a second round of financing, Angel investors from Anges Québec and the Anges Québec Capital fund have invested $1,320,000 in Hexoskin, a world leader in digital health technology. This investment will allow the Québec startup, which designs and manufactures smart shirts for health tracking distributed on five continents, to pursue its exponential growth overseas. Read More
Vancouver Sun: Vancouver Firm Trulioo Gets $15 Million in Funding
Vancouver’s financial technology sector just got a boost today with the announcement of a $15-million funding round for Trulioo, a company that offers identity verification services for businesses and organizations around the globe. The investment, in which American Express Ventures joined existing funders BDC Capital, Blumberg Capital and Tenfore Holdings, will fuel growth at the company. Read More
Montreal in Technology: What Montreal must take from the Valley
Growing up I was very, very, very competitive. I was raised in the era of the “I will eat your lunch” school of thought and winning to me meant “you lose.” Thankfully I was never one to cheat, but I really hated losing. This competitiveness is something that I kept with me in my career too, that is until I moved to the Valley in 2006. Read More
KPMG: Defending Against Unwanted Surprises: Bribery and Corruption Due Diligence
Purchasers investing around the globe are faced with the increasing challenge of responding to a changing legislative and business environment connected with the fight again bribery and corruption. For example, in recent years there have been changes to the Canadian Corruption of Foreign Public Officials Act (“CFPOA”), increased attention on the UK Bribery Act and new anti-bribery laws introduced in Russia and China. Read More
BetaKit: Bridgit Wins Google Demo Day Women’s Edition
It’s been an exciting year for Bridgit. The Kitchener-based startup has so far taken the top prize at September’s C100 startup competition, snagged $25,000 from the Communitech Rev demo day, and earned its place at Google Demo Day Women’s Edition, where the company was selected out of 450 applicants from around the world. Read More
CB Insights: The Venture Capital Funnel: Your Chances of Raising Follow-Ons, Exiting, and Becoming a Unicorn
The venture capital funnel highlights the natural selection process of the venture capital process. Three-fourths of companies are orphaned or die along the way. Once you take venture capital, what can you expect? Below is what the data says life will look like. Read More
BetaKit: Former Prime Minister Paul Martin Speaks out on Investing in Indigenous Innovation
Before he was prime minister of Canada, Paul Martin spent his teen years working in northern Canada alongside indigenous people—a group he’d never been exposed to back in his hometown of Windsor, Ontario. “These were bright, tremendous people. And life just didn’t deal them a happy hand,” Martin said. Read More
The Globe and Mail: Robo-Adviser Wealthsimple to Acquire ShareOwner Investments
Online portfolio manager Wealthsimple is gaining ground among competitors as it acquires online brokerage Canadian ShareOwner Investments Inc. It is the first acquisition in Canada between two online advice platforms, also known as robo-advisers. Read More
First Angel Network: Looking Back on a Decade of Angel Investing
Time DOES fly when you’re having fun! When Brian and I started First Angel Network (FAN) in 2005, it was meant to be a small venture to find great startups for Angel investors in Atlantic Canada. We thought a few days a month is all it would require. Read More
BetaKit: EY Report Says Canadian Executives Looking Towards M&A for Growth
In a statistic trailing only the US, nearly 73 percent of Canadian executives have M&A plans for the next year, compared to only 24 percent in October 2014, according to Ernst & Young’s Canada Capital Confidence Barometer. This is Canada’s highest rate in the survey’s history, which started in 2009. Read More
The Economist: The Rise and Fall of the Unicorns
WORKERS from technology firms recently gathered at a cinema in downtown San Francisco to watch a preview of “The Big Short”, based on the bestselling book by Michael Lewis. The film, which will be released in December, profiles several outsiders who successfully bet against the housing market when everyone else believed it would continue to rise, as it always had. You already know the ending. Read More
Maple Leaf Angels: Home Care Software Startup Raises an Additional $3.6 Million to Accelerate Growth
AlayaCare, a home healthcare software startup, today announced that it has raised $3.6 million in its latest round of funding as it accelerates client management, research and product development, and its expansion in the US market. AlayaCare’s proprietary platform provides its clients with an integrated solution that combines back office functions such as scheduling, invoicing, and time and attendance, with clinical documentation and a suite of mobile solutions for care workers and family members. Read More
Anges Québec: SmartReno Receives $1.6 Million from Anges Québec Members and Anges Québec Capital for Expansion
Members of Anges Québec and the Anges Québec Capital fund wrapped up a third round of company financing for a total of $1.6 million, helping SmartReno to secure its position as leader of the Canadian renovation referral sector after only three years of operation. This new round of financing allowed SmartReno to acquire its biggest competitor and launch a new financing product for its clients. Read More
BetaKit: OMERS’ John Ruffolo Talks Canada’s New Startup Lobby Group and Using the Government for Leverage
Earlier this week, it was revealed that some of Canada’s tech elite have come together to help shape the future of our nation’s innovation economy. The Canadian Council of Innovators is a coalition of 20 Canadian tech companies, with a mandate to lobby the federal government in the interest of Canadian startups looking to scale globally. Read More
Marketwired: Meta, an Artificial Intelligence Platform for Science, Receives $6M in Funding
Meta, a machine intelligence and big-data-as-a-service company for researchers and scientific industries, today announces $6 million in funding led by Rho Canada Ventures (previous investments include: Figure1 & Chango). Additional investors include Western Technology Investment (Palantir, Google, Facebook), iGan Partners (Quandl, eSight), and Angel investors from around the world. Read More
IIX Inc.: IIX Receives $26 Million in Series B Funding to Accelerate Global Growth
IIX Inc., the global software-defined interconnection company, today announced it has secured $26 million in Series B funding. Formation 8 led this round with continued participation from New Enterprise Associates (NEA). Also participating are prominent technology investors Drew Perkins, Rajiv Ramaswami, and AME Cloud Ventures (launched by Yahoo! co-founder Jerry Yang). Read More
KPMG: Not-for-Profit Accounting Standards Update – November 2015
You are probably wondering what happened to the Statement of Principles that was issued in December 2012. It proposed substantive changes to accounting standards for Not-for-Profit Organizations to harmonize the accounting for Government and Other Not-for–Profit Organizations with their respective conceptual frameworks. Read More
Gowlings: Gowlings Once Again Named One of Canada’s Best Employers
For the sixth straight year, Gowlings has been recognized as one of the Best Employers in Canada by Aon Hewitt, a world leader in employee research and human resources consulting. The annual Best Employers list, which is based on the results of a comprehensive survey of employees from companies across Canada, honours organizations with the highest levels of employee engagement and workplace satisfaction. Read More
Keiretsu Forum: Keiretsu Forum Continues to Expand in Canada
Keiretsu Forum, the world’s largest Angel investor network will launch its fourth Central Canadian chapter in Vaughan, Ontario on November 19th 2015 in partnership with the City of Vaughan. Keiretsu Forum will now have seven active chapters across Canada and 40 chapters across the globe. Read More
Royal Bank of Canada: RBC Named “Best Private Bank in Canada” by Global Private Banking Awards
RBC has been recognized as the “Best Private Bank in Canada” for the fourth consecutive year at the 2015 Global Private Banking Awards, presented by PWM (Professional Wealth Management) and The Banker magazines. RBC Wealth Management also won “Best Initiative of the Year in Relationship Management Technology.” Read More
Techvibes: DMZ at Ryerson Ranked Top University-Based Incubator in North America
The DMZ at Ryerson University has been ranked the leading university-based incubator in North America by UBI Global, a Stockholm-based research organization that specializes in benchmarking incubation programs. Up from second place last year, the DMZ was ranked the highest among 60 programs of its kind in North America. Read More
The Huffington Post: Pre-Seed Funding and Canada’s Startup Ecosystem
Pre-seed, a relatively new stage in the funding process, is becoming more recognized in the Canadian startup ecosystem and in other startup hubs around the world. The trend is growing for a number of reasons, and Canada would benefit from more capital dedicated to pre-seed from truly value-added investors. Read More
Gowlings: New Avenues Open to Raise Capital — Expanded Pool of Canadian Provinces, now Including Ontario, Announce Revised Offering Memorandum Exemption
Ontario has introduced an offering memorandum (OM) prospectus exemption and five other provinces are modifying their existing OM exemptions to align with this revised model which incorporates additional investor protections. The new or revised OM exemption will be available in Ontario, Québec, Alberta, Saskatchewan, New Brunswick and Nova Scotia. Read More
Ontario Securities Commission: Regulators Finalize Offering Memorandum Exemption
The securities regulatory authorities in Alberta, New Brunswick, Nova Scotia, Ontario, Québec and Saskatchewan (collectively, the participating jurisdictions) today published Multilateral CSA Notice of Amendments to National Instrument 45-106 Prospectus Exemptions Relating to the Offering Memorandum Exemption. Read More
BetaKit: Onevest Launches 1000 Angels, an Invitation-Only Investor Network
Onevest, the New York-based startup investing and equity crowdfunding community, has launched a new initiative in its pledge to democratize early stage investing: 1000 Angels, a digital-first, invitation-only investor network. Onevest says 1000 Angels will provide a constantly updated selection of exclusive investment opportunities for its members. Read More
BetaKit: VC Investment in Canada at a 14-Year High
In the Thomson Reuters Canadian Venture Capital Review for the first three quarters of 2015, Canadian companies collectively raised a 14-year high of $1.95 billion in venture capital. According to the Reuters report, this amount already exceeds the full VC total for six of the past seven years, and is on pace to hit $2.4 billion by the end of the year. Read More
The Canadian Trade Commissioner Service: Canadian Technology Accelerators
The application process, criteria, and application time-frame is determined per CTA. Generally, CTA applications must demonstrate: clear expression of your company’s value proposition and objective(s), preliminary sense of desired contacts, ability to express why you and these contacts should want to meet each other, and a clear understanding of the various financing mechanisms that can help grow your company. Read More
The Globe and Mail: Canada Drone Maker Aeryon Labs Secures $60-Million Financing
Canadian commercial drone maker Aeryon Labs Inc said on Friday it has secured $60-million of financing from a U.S. venture capital firm, putting it on a path to expand and more than double its sales growth over the next two years. Aeryon, which is based in BlackBerry’s hometown of Waterloo, Ontario, is focused on making specialized drones for military reconnaissance and public safety uses. Read More
Montreal Gazette: Hacking Health Drives Healthcare Into 21st Century With New Accelerator
Dismal paint jobs, flickering fluorescent lights and chipped melamine everywhere, not to mention the malfunctioning take-a-number dispensers and a two-hour wait to get a blood test from a nurse — hospitals here are often the last place you’d associate the word “innovation” with. Read More
Ottawa Community News: Invest Ottawa Invites Public to Peer Inside Innovation Centre
There’s still 12 months to go before it officially opens its doors, but the people behind the future Innovation Centre at Bayview Yards are clearly excited about the future. On Oct. 13, business leaders, residents and entrepreneurs mingled at the Tom Brown Arena while getting a taste of what the two-phase facility will be able to offer the city. Read More
Techvibes: Cymax Raises $30-Million, Looks to Revolutionize Furniture E-Commerce
Cymax announced today that it has closed a $30 million Series A funding round. The financing round was led by Frind Holdings, BDC Ventures and Salman Partners. Techvibes reported this summer that the under-the-radar Burnaby, BC-based company was a $100 million tech company that sells furniture. Today’s announcement has the Canadian e-commerce company on track to do $180 million in sales this year with even bigger plans for 2016. Read More
BetaKit: Canadian-Made AppDirect Raises $140 Million Series E
TechCrunch is reporting that AppDirect has raised a $140 million Series E funding round, led by J.P. Morgan, with participation from the company’s existing institutional investors: iNovia Capital, Mithril Capital Management, Stingray Digital, and Foundry Group. To date, the company has raised a total of $245 million USD. Read More
Exchange Magazine: How Early-Stage Capital can Turbocharge Canada’s Economy
Some say elections are about image, not issues. They’re about hairstyles and sound bites, not intellectual debate. There is some truth to this premise, especially in the United States, with everyone from Donald Trump to Kanye West talking about the presidency. Many Canadians want more from their candidates. Many of us want to talk about tangible, realistic and creative solutions to major issues like the economy. Read More
The Globe and Mail: Balsillie Urges Canadian Tech Firms to Step Up Lobbying Efforts
Jim Balsillie, one of the architects of the global smartphone revolution, has issued a blistering call to arms to Canada’s emerging tech companies: If you don’t start working the halls of government to advance your interests, you will be outmanoeuvred by global tech giants and their powerful lobbying machines. And he’s offering to help set up an “innovation lobby” in response. Read More
GreenSky Capital Inc.: GreenSky Accelerator Fund Leads $790,000 Round of Financing for Pyrowave Inc.
The GreenSky Accelerator Fund I, LP (“the Fund”) is excited to announce that it has closed an investment with Mississauga, Ontario based Pyrowave Inc. The Fund led a $790,000 round of funding alongside members of the GreenSky President’s Club, an affiliated network of high-net worth active Angel investors. Read More
Feldan: Feldan has Secured an Investment of over $1.7 Million from Angel Investors to Support Continued Growth
Members of Anges Québec, the Anges Québec Capital fund, and other Angel investors have given Feldan a $1,723,000 cash injection during a fourth round of financing. The Quebec City–based biotechnology firm, which develops cell therapy products, will use the capital to finalize the preclinical development of two products and move them into the first clinical trial phase within two years. Read More
BetaKit: ScribbleLive Raises $35 Million Series D
ScribbeLive, a Toronto-based company focused on digital content marketing, just announced that it closed $35 million in expansion round funding. The round was led by The OpenText Enterprise Apps Fund, with participation from Emerillon Capital, Blue Cloud Ventures, Northleaf Venture Catalyst Fund and a large U.S.-based asset manager. Read More
Ottawa Business Journal: Shopify Named CIX’s 2015 Innovator of the Year
Shopify added to its trophy collection Tuesday when the Ottawa company was named the Canadian Innovation Exchange’s 2015 Innovator of the Year. “Shopify is one of the great Canadian corporate stories of the last decade,” CIX co-chair John Ruffolo said in a statement. Read More
BetaKit: Communitech Rev Awards $50,000 to Protein Testing Solution Nicoya
Waterloo-based Nicoya Lifesciences wants to change the way scientists run protein tests, and on Friday night, the company had its idea validated to the tune of $50,000 at Communitech’s Rev Centre Stage pitch event. Nicoya’s personal and portable SPR (Surface Plasmon Resonance) solution makes protein testing simple, quick and accessible – for less than one-tenth the cost of current solutions. Read More
The Hindu: Keiretsu Brings ‘Swarm Intelligence’ to Angel Investing in India Startups
Keiretsu Forum, the world’s largest Angel investment community is betting big on Indian startups and exploring opportunities. The U.S.-based Angel network makes investments based on ‘swarm intelligence’ or insights gathered from its community of 1,500 investors and members. Read More
The Globe and Mail: Funding Female Entrepreneurs is a Proven Job-Creation Strategy
We seem to be obsessed these days with unicorns. Unicorns are high-growth companies that get to billion-dollar valuations very quickly. In country after country, leaders are trying to replicate the Silicon Valley model with a “winner takes all” mindset. Read More
Gowlings: Gowlings Named Firm of the Year in Multiple Categories at LMG Life Sciences Awards 2015
For the third year in a row, Gowlings has been recognized for its unparalleled expertise in the global life sciences industry, taking home six awards at the 2015 LMG Life Sciences Awards ceremony last night in New York. Gowlings won more awards than any other law firm, and received top honours in other categories. Read More
Ryerson DMZ: The DMZ at Ryerson University Signs Memorandum of Understanding with Innovation Birmingham
The Minister of Trade for Ontario, Canada, together with representatives from the DMZ at Ryerson University, the top-ranked university-based incubator in Canada and fifth in the world, has visited the Innovation Birmingham Campus to sign a Memorandum of Understanding (MoU). Read More
University of Waterloo: Velocity Companies Raise more than $250 Million from Investors
Companies that are currently in or launched from Waterloo’s Velocity startup program have raised more than $150 million in funding from investors in just the last 18 months, bringing the total since the incubator launched to more than $250 million. Read More
Anges Québec: The Business is in the Bag for Minitrade with an $880K Investment
Isabelle Doucet got the idea to found Minitrade at the end of 2012 when she saw bags filled with children’s clothes gathering in her home as well as garments in her own closet, some of which had never been worn. A good idea that quickly found a market! Read More
Financial Post: Why Canada Needs Entrepreneurial Clusters, and how to go about Making Them
Imagine you have an idea for a zillion-dollar business, but you need partners, skilled employees, industry contacts — and patient capital to build it. In a perfect world, you could source all that with a few local calls.n this world, it happens in just a few places: Silicon Valley, New York City, London, and maybe Beijing and Tel Aviv. Read More
Techvibes: MaRS Forms International Financial Technology Partnership with CUBO in São Paulo
MaRS announced today a global partnership with CUBO, a fintech innovation hub based in São Paulo, Brazil. CUBO will be joining MaRS’ Financial Technology cluster, which connects entrepreneurs in emerging payments, peer-to-peer transactions, alternative lending and crypto-currencies, with the financial services sector. Read More
Ontario Newsroom: Global Life Sciences Incubator Launching in Ontario
Ontario has been selected to be the home of Johnson & Johnson Innovation’s first JLABS incubator outside the United States. JLABS @ Toronto, a partnership with the University of Toronto, MaRS Innovation, MaRS Discovery District and the Province, will leverage Ontario’s highly-skilled workforce and advanced science and technology sector, providing the tools and resources needed to help life science start-ups thrive. Read More
BetaKit: OCE and Venture for Canada Partner to Give Recent Stem Grads Work Experience
The Ontario Centres of Excellence (OCE) and Venture for Canada are partnering to open up opportunities for Ontario’s post-secondary students in the entrepreneurial ecosystem. Together, they are establishing an OCE – Venture for Canada fellowship stream focused on allowing recent STEM graduates into top Ontario startups. Read More
Broadcaster Magazine: The Vancouver Economic Commission Launches First Ever Startup City
The Vancouver Economic Commission (VEC) today announced it will launch Startup City, a week-long celebration of Vancouver’s startup community. The event, held at The Imperial during Startup Week, will bring together startups of all stages to learn how to build on the opportunities in Vancouver and make it the best startup ecosystem in the world. Read More