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GreenSky expands team, secures $17 million first close of Fund V as firm sees opportunity amid the downturn (BETAKIT)
The Toronto-based VC firm, which plans to continue fundraising until the end of March, is targeting a total size between $20 million and $25 million for Fund V.
Tesla recalls ‘Full Self-Driving’ to fix unsafe actions (AP NEWS)
The recall, part of part of a larger investigation by the National Highway Traffic Safety Administration into Tesla’s automated driving systems, is the most serious action taken yet against the electric vehicle maker.
Blaise Transit signs contract to deploy on-demand transit tech in Nova Scotia (BETAKIT)
Blaise wants to improve the accessibility of community transportation in Nova Scotia, including in many locations in remote and rural communities.
Calling all hardware and semiconductor-focused startups!
ventureLAB is excited to announce the application call for our Hardware Catalyst Initiative program is now open.
As Canada’s leading Hardware Hub, the Hardware Catalyst Initiative program enables the creation of transformative technologies that will power the products of tomorrow, helping ventures become competitive players in the ever changing global semiconductor industry.
Chosen applicants will have access to state-of-the-art equipment in our $7M+ lab, in addition to tools, resources, expertise, and mentorship to get your product off the ground.
AI and quantum computing startup SandboxAQ snags $500M (CRUNCHBASE NEWS)
Spun out last March, SandboxAQ is examining the related effects of both AI and quantum — which is where the company gets “AQ” — to develop commercial products for telecom, financial services, health care, security and other computationally intensive sectors.
Newly-named Canada Innovation Corporation will see budget double to absorb IRAP (BETAKIT)
The newly-dubbed Canada Innovation Corporation (CIC) will be a Crown corporation led by the private sector. While the CIC will operate independently from the government it will report to the minister of innovation, science, and industry.
South Korea boosts its AI chip industry with $642M amid ChatGPT frenzy (TECHCRUNCH)
The country’s Ministry of Science and ICT said it would earmark $642.5 million (826.2 billion won) through 2030 to invest in companies working on advanced AI chips. The investment will involve building new data centers, and working with AI chip startups and cloud service providers, among other projects.
Canadian tech can find opportunities during leaner times (BETAKIT)
RBC Capital Markets managing director Aly Gillani says M&A will be a big theme in the back-end of 2023.
Champagne 'doubles down' on Canada's AI bet (FINANCIAL POST)
Artificial intelligence is going to revolutionize the way the world does business, and Canada wants to be at the forefront of that transition, said François-Philippe Champagne, the industry minister.
Federal government reveals breakdown of $700 million renewed commitment to Innovation Clusters (BETAKIT)
The Government of Canada initially promised the additional funding for the clusters last year, announcing $750 million in investments to be made over the course of six years, until 2028.
Canada needs to make sure it doesn't lose its AI talent to other countries: John Ruffolo (BNN BLOOMBERG)
John Ruffolo, founder and managing partner of Maverix Private Equity, said Canada is “very well-represented in terms of the brain power behind many of these (global AI) companies.” But he said Canada needs to make sure it doesn’t lose its great talent.
Real Ventures partners with Panache, Inovia to relaunch FounderFuel accelerator (BETAKIT)
FounderFuel is now coming back and going nationwide with the support of two other notable Montréal-headquartered Canadian venture capital (VC) firms with a presence across the country: Panache Ventures and Inovia Capital.
Why a Conversation With Bing’s Chatbot Left Me Deeply Unsettled (THE NEW YORK TIMES)
I’m still fascinated and impressed by the new Bing, and the artificial intelligence technology (created by OpenAI, the maker of ChatGPT) that powers it. But I’m also deeply unsettled, even frightened, by this A.I.’s emergent abilities.
Movement51 launches new “investment readiness” education program for women entrepreneurs across Canada (BETAKIT)
TD Bank has promised $120,000 CAD to M51 as part of a three-year funding commitment to Founder’s Lab.
AI porn is easy tomake now. For women, that's a nightmare. (THE WASHINGTON POST)
Until recently, making realistic AI porn took computer expertise. Now, thanks in part to new, easy-to-use AI tools, anyone with access to images of a victim’s face can create realistic-looking explicit content with an AI-generated body. Incidents of harassment and extortion are likely to rise, abuse experts say, as bad actors use AI models to humiliate targets ranging from celebrities to ex-girlfriends — even children.
