Canadian startup news of the week (05/27/17)

Minister Bains innovation supercluster

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 gov’t opens applications for $950 million ‘supercluster’ initiative(BETAKIT)

The initiative will invest in up to five clusters, including areas like agri-food, cleantech, digital technology, and health and biosciences.

Kik launches Kin to drive mainstream adoption of cryptocurrency(BETAKIT)

Kin will be created as an ERC20 token on the Ethereum blockchain, and will be integrated into Kik as the primary transaction currency.

D-Wave and Creative Destruction Lab create one-year program for quantum machine learning startups(BETAKIT)

Startups will get access to a D-Wave 2000Q quantum computer and tech support from D-Wave experts.

Startup Milestones

  • Mylo raises $750,000 for platform that invests your spare change (Read here)

  • ModiFace partners with Estée Lauder to launch live makeup trial platform (Read here)

  • HiMama almost hits 100 million shares on its communication platform for parents and caregivers (Read here)

  • LANDR launches workflow tools to help creators finish music faster (Read here)

  • ROSS Intelligence opening R&D headquarters in Toronto (Read here)

  • Goldmoney announces investment, partnership in UK-based Lend and Borrow Trust (Read here)

Must Reads

PwC MoneyTree report: Q1 deal activity hits 2015 low, while foreign investment heats up(BETAKIT)

Deal activity dropped 25 percent through the quarter from Q4 2016, with deals in Q1 2017 hitting the lowest figure since Q3 2015.

Ask an Investor: How do I create a targeted list of investors?(BETAKIT)

To evaluate the fit of an individual at a VC firm or an angel investor, you’ll want to look at a number of factors.

CanCon Podcast Ep. 69: Can Kik’s cryptocurrency save the company from copycat Facebook?
(Plus: Unicorns aren’t Unicorns)

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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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