In partnership with Canada’s artificial intelligence (AI) cluster, Scale AI, Halifax innovation hub Volta has opened applications for the second edition of its Volta AI program.
Launched last May, Volta AI was created to provide Canadian supply chain focused companies with access to funding, networking, and mentorship. A minimum of five startups will be selected to participate in the cohort where they will have nine months to spend $14,000 on initiatives that will help them scale.
“Continuing to build the tech ecosystem with a focus on AI in Canada requires constant support at every stage of the value-creation process.”
– Hakim Merah
Scale AI’s continued partnership with Volta AI follows the agency’s $24 million investment into supporting five AI projects in supply chain operations. The fund is distributed among a number of startups and partners, including a $3 million grant that went to London Drugs Limited, Deloitte, TAP, Sanctuary AI, and Atlantia to develop an AI-powered supply chain model focused on forecasting supplier demand.
The federally and Québec government-supported AI cluster is also partnering with innovation hub MaRS to support the commercialization of 12 Canadian supply chain solutions AI startups. Scale AI will invest up to $50,000 into each startup, while MaRS will work with the founders to grow their businesses’ revenue, gain access to capital, attract the right talent, and tap into new markets.
To qualify for Volta AI, companies must be based and operating in Canada; have a focus on applied AI and intelligent supply chain products and/or services; and have a venture that demonstrates evidence of customer interest and traction.
Applications for Volta AI will be accepted until May 2, with this year’s cohort starting in the beginning of June. All companies will be required to have regular communication with the Volta team, who will facilitate the program and ensure companies remain accountable.
Milk Moovement, which provides supply chain software for dairy, was one of the companies included in the first cohort. It announced last April that it raised $4 million CAD, with plans to open a new office based in Minnesota.
The other four companies that were part of Volta AI’s inaugural cohort include agtech company Scarcity Analytics, data transparency app Blue Node Inc., and ocean tech companies, eOceans and Marine Thinking.
“Continuing to build the tech ecosystem with a focus on AI in Canada requires constant support at every stage of the value-creation process,” said Hakim Merah, senior manager, Acceleration and AI Ecosystem at Scale AI. “We are excited to support the network of accelerators that are providing links and support between business and AI startups.”
Featured image from Volta