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.
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Top Stories of the Week
TORONTO AND MONTRÉAL ADDED THE MOST TECH JOBS IN CANADA IN THE LAST FIVE YEARS: REPORT
Within Canada, Toronto and Montréal added the most tech talent jobs between 2017 and 2022, according to CBRE’s latest Scoring Tech Talent report. In the five-year period, CBRE’s report found that Toronto added 63,800 tech jobs, while Montréal added 51,500.
The report illustrated the emerging tech talent concentration in Canada, with three of the top five North American cities in this category located in Canada: Ottawa, Waterloo, and Toronto.
VENTURE FUNDING IN TORONTO, BRITISH COLUMBIA REBOUNDS IN SECOND QUARTER OF 2023
Following a sluggish start to the year, two of Canada’s largest tech ecosystems saw a resurgence in venture funding in the second quarter of 2023, according to new data from briefed.in.
HERE’S HOW MUCH CANADA’S TOP PUBLIC TECH COMPANY CEOS WERE PAID LAST YEAR
From Shopify's Tobias Lütke to Opentext's Mark Barrenechea, find out how much these CEOs were making as public tech companies faced a challenging year in 2022.
COHERE SECURES STRATEGIC INVESTMENT FROM SAP AS ENTERPRISE DEMAND FOR GENERATIVE AI GROWS
For Cohere, the SAP investment and McKinsey partnership follow its recent $270-million USD Series C financing from Inovia, Nvidia, Oracle, and Salesforce Ventures, among others, which brought the company to a reported $2 billion-plus valuation.
BRITISH COLUMBIA MOVES TO PROTECT ITS INTELLECTUAL PROPERTY WITH NEW PROGRAMS
B.C.’s new IP Strategy will provide education about IP for startups and small- and medium-sized enterprises throughout the province. The move is meant to make it easier for people to understand and navigate the complicated financial and legal aspects of intellectual property.
MEET BC TECH’S FIRST INNOVATORS HALL OF FAME INDUCTEES
The BC Innovators Hall of Fame recognizes the leaders that have left a legacy on the province and who have helped enrich its technology and innovation ecosystem. Honourees include leaders from BC Tech Association, CIBC, and D-Wave.
STARTUPFEST 2023 AWARDS HUTSY TWICE WHILE ORA MEDICAL RECEIVES BDC PRIZE MATCH
Startupfest saw over $585,000 in cash prizes awarded to startups last week, as companies ranging from FinTech firms to small software shops brought their best pitches to the Montréal tech conference held from July 12-14.
Here are all the details on Startupfest 2023’s awards and their winners, like Ora Medical and financial "super-app" Hutsy.
AFTER A THREE-YEAR PAUSE, TECHPONG BOUNCES BACK FOR 2023 RETURN
Vancouver-based ping pong and fundraising event TechPong has announced it will return this year on Oct. 19, following a three-year pause.
Created by Vancouver-based Charitable Impact (previously CHIMP) in 2014, TechPong is meant to provide opportunities for members of the tech community to engage in some friendly competition, network, and raise money for charitable causes.
CANADA’S PRIVATE TECH FIRMS GATHER TO TALK AI, GROWTH, GLOBAL APPEAL
RBC Capital Markets hosted its fourth annual Canadian Private Technology Conference at the end of June. The event culminated with a conversation with keynote guest, Apple co-founder Steve Wozniak, who shared his own entrepreneurial journey and his perspective on the tech and AI landscape today.
Latest Funding, Acquisitions, and Layoffs
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SF – Reworkd AI – $1.65M (read more)
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VIC – Checkfront merges with Rezdy (read more)
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VIC – Othersphere – $3M (read more)
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VAN – ProShop ERP – $32M (read more)
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CGY – Vitruvi Software to be acquired by Bow River Capital (read more)
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TOR – Metafold 3D – $2.35M (read more)
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HAL – 3D BioFibR – $3.52M (read more)
Elevate Festival offers 50% off for Startups until July 30, 2023
Elevate Festival was built to amplify and connect startups, so this summer, Elevate and Moneris have teamed up to offer a limited-time deal for startups.
Until July 30th, startups can take advantage of 50% of Elevate Festival Startup passes. That means that if you run or work at a startup, you will have the opportunity to get a 3-day Startup pass for only $125!
Hear from the world’s most innovative minds, meet with Canada’s leading investors, source leads, pitch on stage, network in the Startup lounge, connect with fellow founders at evening socials, and more!
The BetaKit Podcast
LIVE FROM STARTUPFEST!
"The BetaKit Podcast is very much a pro-dog podcast."
Dr. Theresa Johnson (Airbnb), Harper Reed (General Galactic Corporation), and Neha Khera (2048 Ventures) join for a wide-ranging conversation on shooting particles at satellites (for science!), founder-market fit, working for Barack Obama, when to quit, shutting down your company, angel and early-stage investing, and building jetpacks for dogs (for science!). Recorded in front of a live audience on the main stage of Startupfest 2023.
ON THE DEATH OF THE GIRLBOSS WITH CHELSEA FAGAN (THE FINANCIAL DIET)
“The crux of the Girlboss movement’s problem is that it wants women to behave more like men and the answer is for men to behave more like women at scale.”
Elizabeth Holmes is now in jail, her imprisonment signalling a clear end to the Girlboss Era. Chelsea Fagan (The Financial Diet) joins to discuss what killed the Girlboss, the cynicism and superficiality behind the term, and the need for better public archetypes of entrepreneurship for women—and especially men.
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Correction: An older version of this story said Toronto and Montréal added 150,000 tech jobs in the past year. In fact, they added 150,000 jobs in the past five years.
