Canadian startup news of the week (04/01/18)

Kathleen Wynne

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

Ontario budget earmarks $50 million for life sciences-focused VC funds(BETAKIT)

The government is renewing the Jobs and Prosperity Fund with an increase of $900 million over the next 10 years.

Hubba faces personnel changes as company continues pivot from enterprise to independent retail(BETAKIT)

Hubba recently laid off 15% of the company while continuing its search for VPs of engineering and product.

Five reasons why AI in Canada needs more women(BETAKIT)

Ensuring that AI doesn’t perpetuate the bias that humans share is the only way we will realize the maximum benefits it offers.

BuildDirect closes $53 million CAD, exits creditor protection(BETAKIT)

The company said it will continue to service homeowners, but will shift its focus to professional contractors.

Startup Milestones

  • SemaThera raises $2 million to develop solution for diabetic macular edema (Read here)

  • Swift Medical raises $11.6 million to help healthcare facilities manage wound care (Read here)

  • Nest Wealth launches platform to help small businesses provide group RRSP plans (Read here)

  • Axem Neurotechnology accepted into Shenzhen-based HAX accelerator (Read here)

  • PLATO Testing wins Indigenous business pitch competition (Read here)

  • Evichat wins $40,000 top prize at Legal Innovation Zone’s AI Challenge (Read here)

Must Reads

Canadian startup funding in 2017: A city-by-city ecosystem review(BETAKIT)

BetaKit spoke with PwC’s tech team from cities across Canada, covering standout sectors and what each ecosystem needs to thrive.

Ask an Investor: What do VCs worry about?(BETAKIT)

This week’s question turns the table and focuses not on founders, but investors.

CanCon Podcast Ep. 108: The Canadian invasion of WeWork and SVB

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Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.

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