The Business Development Bank of Canada (BDC) has announced a new, $4-billion Defence Platform that will allow it to invest in and support Canadian defence technology companies. The platform, announced today, includes $3.5 billion for financing and advisory services to help Canadian businesses scale up and participate in “major defence contracts and national projects focused…
The head of Shopify’s core product is leaving the company after nearly seven years to join ChatGPT maker OpenAI and lead its app development. New York City-based Glen Coates, who was vice-president (VP) and head of core product at the Canadian e-commerce giant, announced his new role on social media on Monday. Coates will be…
The Government of Canada has signed another non-binding agreement with a Canadian artificial intelligence (AI) company to “increase internal efficiency.” “There is a multi-billion [dollar] opportunity in the Canadian government … to drive more self-service through generative AI.” Louis Têtu, Coveo The memorandum of understanding (MOU), jointly signed by federal AI minister Evan Solomon and…
Montréal’s Amiral Ventures has raised $40 million CAD from the Québec government, Desjardins Capital, and dozens of tech entrepreneurs for its first fund that aims to lead early-stage deals amid a domestic downturn for venture capital (VC). The venture firm, founded by repeat entrepreneurs and investors Frédéric Bastien, Dominic Becotte, and Nectarios Economakis, held its…
The Business Development Bank of Canada (BDC) has told VCs it’s open to lifting restrictions that have kept some of the venture capital (VC) funds it backs from investing in defence-related startups. In an email sent to investors on Monday, BDC Capital executive vice-president Geneviève Bouthillier wrote that BDC was willing to “alleviate” restrictions in…
As the name suggests, Daniel Sax started the Canadian Space Mining Corporation in 2020 to build a leading space mining company in Canada. “You have to have a stable, credible business long before mining in space comes into relevance.” Given that space mining for now remains in the realm of science fiction, the company’s focus…
More than 40 percent of FinTech companies operating in Canada were founded during the “sugar high” of venture capital (VC) funding between 2018 and 2022. But while growth in the sector has dropped since then, a new report suggests a fresh wave of companies could be on the horizon thanks to the rise of artificial…
BY THE OPTIMIST DAILY EDITORIAL TEAM Nearly 900 acres of ancestral territory have been officially returned to the Southern Sierra Miwuk Nation, marking a major milestone in Indigenous land restoration efforts in California. The property, which borders Yosemite National Park and the Sierra National Forest, includes Henness Ridge, a culturally vital landscape that once formed…
BY THE OPTIMIST DAILY EDITORIAL TEAM Fermented foods have been a dietary staple in many cultures for centuries, but in the U.S., they’re only recently starting to get the attention they deserve. From sauerkraut in Germany to kimchi in Korea, many traditional cuisines have long leaned on fermentation not just for flavor but for health….
Scale AI has revealed nearly $129 million CAD in fresh financing across 44 new Canadian applied artificial intelligence (AI) projects in what it claims is its largest group of commitments to date. The government-backed Canadian AI cluster is ponying up about $46 million, while private partners are coinvesting the remaining $83 million. “This is a…
