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
IP expert Peter Cowan tapped to head Intellectual Property Ontario
Cowan has been working as IPON’s head since least late summer, multiple sources confirmed to BetaKit. Those sources, who asked to remain anonymous as they’re not allowed to speak publicly on the matter, noted that Cowan has been taking meetings with members of the ecosystem for several weeks.
Payments Canada delays Real-Time Rail payment system launch (again)
It’s the second time Payments Canada has delayed the system’s launch. It first promised to deliver the RTR in 2022, and then rescheduled the launch to mid-2023. No revised timeline was given by Payments Canada as part of its most recent delay announcement.
“At some point, we need to recognize that what’s happening in Canada is not normal,” said Koho CEO Daniel Eberhard.
Alberta tech CEOs sign letter claiming restrictions over “software engineer” title hampering province’s talent gains
Companies and startups have written Premier Danielle Smith protesting the “aggressive position” the Association of Professional Engineers and Geoscientists of Alberta (APEGA) has taken over the title of software engineer.
The some 30-plus signatories of the letter contend that APEGA is unnecessarily regulating the designation of software engineer and has made the position subject to “onerous, restrictive, and unnecessary certification requirements.”
Amid questions on progress, Canada’s open banking lead says implementation “absolutely” remains on track
Given the status of efforts to date, some members of the country’s financial services community have questioned whether those tasked with implementing open banking in Canada will be able to meet the two-phase, 18-month timeline outlined in the Advisory Committee on Open Banking’s long-awaited report.
Latest Funding, Acquisitions, and Layoffs
VAN – Quandri – $2M (read more)
WAT – Auvik acquires Saaslio and Boardgent (read more)
KIT – Miovision acquires Rapid Flow (read more)
KIT – Shinydocs, Encircle, and Proto receive cumulative $7.5M (read more)
TOR – NorthOne – $92.1M (read more)
TOR – Parity – $8M (read more)
MTL – BeatConnect – $3M (read more)
MNC – CareerBeacon acquires Ruutly (read more)
BOOM TO BUST CYCLES & WHY THERE’S NO CANADIAN TECHLASH
“I think it’s hard to beat the optimist out of a VC.”
The Globe and Mail’s Sean Silcoff joins to discuss whether or not the Canadian tech boom is fizzling out. Public policy expert Vass Bednar joins to discuss which Canadian companies are quietly adopting and emulating big-tech strategies to their benefit.
HOW HAS THE TECH DOWNTURN AFFECTED FOUNDER MENTAL HEALTH?
“There's a direct relationship between the mental health of the entrepreneur and the performance of the company.”
Econa founder Dr. Michael Freeman returns to discuss how the current tech winter is impacting founder mental health, and how that is impacting company performance.
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