Burnaby, BC-based legaltech company Clio says it’s looking to foster local business talent through a $3-million donation to the University of British Columbia’s (UBC) Powerhouse Project, a new flagship building for the UBC Sauder School of Business.
Clio’s investment will fund an entrepreneurship and innovation hub inside the building that will serve as the formal home of the Creative Destruction Lab-Vancouver (CDL-Vancouver).
Founded in 2012 at the University of Toronto, CDL is a non-profit that delivers an objectives-based program for scalable, seed-stage, science and tech-based companies. CDL now has a global presence, with chapters across Canada, the United States, and Europe.
Through CDL-Vancouver, participating ventures will gain access to a network of students, faculty, and industry leaders in the new space, which will support workshops, seminars, and accelerators meant to equip students and startups with the skills needed to scale their businesses.
UBC Sauder and Clio said the Powerhouse Project emphasizes the importance of cultivating local talent to compete on the global stage and that, by reducing reliance on hubs like Silicon Valley, they aim to support local talent and foster an entrepreneurial ecosystem in British Columbia (BC) that drives innovation and economic growth.
In a statement, Clio CEO Jack Newton said BC is home to incredible talent with the potential to lead on a global scale.
“Fostering that talent here creates a stronger innovation ecosystem that benefits not only our province but the world,” Newton said. “At Clio, we’re proud to invest in initiatives that ensure BC remains a hub for bold ideas and transformative leadership.”
Last week, Clio promoted Luke Slan to act as its new general manager overseeing its Canadian operations with the aim of expanding in its home market. The company closed the largest software funding round in Canadian tech history in July 2024, a $1.24-billion CAD ($900-million USD) Series F round valuing the company at a more than $4-billion CAD ($3-billion USD) pre-money valuation.
The University of Waterloo also recently received a private donation to help it attract talent. Product-development company Interop Labs provided the University of Waterloo with $1-million USD ($1.4 million CAD) to support a new laboratory for artificial intelligence and blockchain research. The lab aims to attract talent to the university by offering industry seminars, scholarships, and fellowships.
Feature image courtesy UBC Sauder.