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
Following government cutbacks, OCE makes significant staff cuts(BETAKIT)
An OCE spokesperson confirmed with BetaKit that its base funding was cut from $31 million to $13.9 million.
A list of 21 Ontario tech programs killed by Ford government cuts(BETAKIT)
The OCE administers publicly funded programming on behalf of the Ontario provincial government. BetaKit breaks down programs that have been cut.
Ford government cuts all provincial funding to Angel Investors Ontario and its 13 angel groups(BETAKIT)
AIO has provided no funding to its 13 member organizations since March.
HackerYou accepted to Y Combinator on back of new tuition model(BETAKIT)
HackerYou founder Heather Payne will be travelling to the US to participate in the Silicon Valley accelerator, which officially begins June 4.
As SEC files suit, Kik’s Ted Livingston argues loss would be “disastrous” for crypto(BETAKIT)
“The part that has become more and more consuming is the regulation and the lack of clarity when it comes to regulation.”
Startup Milestones
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Women Entrepreneurship Fund receives $10M (Read here)
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Palette Skills receives $1M (Read here)
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Renewal Funds, Cycle Capital Management, ArcTern Venture receive $50M (Read here)
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Northleaf closes $300M round (Read here)
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Damon Motorcycles raises $2.5M (Read here)
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CIRA announces 21 projects to receive $1.25M (Read here)
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Well Health acquires Kai Innovations (Read here)
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Industrial Scientific acquires Intelex (Read here)
Must Reads
Five Canadian cities with highest volume of investment dollars and deals in 2018(BETAKIT)
PwC broke down the Canadian cities that saw the highest volume of dollars and deals in 2018: Toronto, Vancouver, Montreal, Quebec City, and Calgary.
Ask an Investor: How can I create optionality after I get an acquisition offer?(BETAKIT)
No matter what stage your business is in, optionality is something you can be proactively driving towards before an acquisition comes your way.
Why 2019 will reveal Canada’s new tech darling (CanCon ep. 139)
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