Welcome to BetaKit’s startup stories of the week! Here, you will find the week’s most important news, features, and editorials published on BetaKit. If you prefer this update hit your inbox every week, make sure to subscribe to the BetaKit Newsletter using the form at the bottom of this page.
Top Stories of the Week
Canadian government refocuses innovation, procurement programs in fight against COVID-19(BETAKIT)
Canada’s Plan to Mobilize Industry to fight COVID-19 is meant to make it easier and faster to deploy resources to domestic manufacturers and businesses.
Federal $82 billion COVID-19 emergency response package to support businesses, workers(BETAKIT)
The measures outline $27 billion for Canadian workers and businesses as well as $55 billion to help business liquidity through tax deferrals.
Canadian tech CEOs: BDC loans, payroll subsidy not enough to stop COVID-19 bankruptcies(BETAKIT)
BetaKit has spoken with multiple CEOs under condition of anonymity about their thoughts on the situation.
Canadian innovation hubs close doors to help prevent the spread of COVID-19(BETAKIT)
Innovation hubs, incubators, and accelerators across Canada are shutting down or instituting work from home policies.
Here’s how #CDNtech companies are pitching in during COVID-19(BETAKIT)
This list will outline what Canadian tech companies are offering during the outbreak.
Startup Milestones
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Facedrive acquires HiRide (Read here)
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Ada Support raises $63.7M Series B (Read here)
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Rocket Lab acquires Sinclair Interplanetary (Read here)
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VXG raises $1M seed round (Read here)
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NorthOne raises $29.3M Series A (Read here)
HOW TO SET UP YOUR STARTUP FOR REMOTE WORK(BETAKIT)
Caution due to COVID-19 is leading many tech companies to cut travel and encourage their engineers to work remotely. Many will be working from home for the first time.
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