Author: BetaKit

TSX Venture Exchange announces top performing Canadian startups

TSX Venture Exchange (TSXV) has announced its top 50 performing companies, part of its annual 2019 TSX Venture 50 event.

“We are exceptionally proud…[of] the role these companies play in fueling Canada’s economic success.”
– Brady Fletcher head of TSXV

The annual event showcases top companies from five industry sectors: clean technology and life sciences, diversified industries, energy, mining, and technology. The winners were chosen based on three equally weighted criteria, market capitalization growth, share price appreciation, and trading volume for the year-end.

For the technology sector, Kraken Robotics topped the list. The Newfoundland-based startup specializes in marine technology and develops sensors for unmanned underwater vehicles.

In second for the tech sector, is Toronto-based Patriot One Technologies, a company that develops systems to detect concealed weapons. Last year, Patriot One Technologies acquired video threat recognition software company EhEye.

Drone Deliver..

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Northumberland CFDC commits $900,000 for rural Eastern Ontario tech startups

Northumberland Community Futures Development Corporation (CDFC) has pledged $952,500 in non-dilutive, performance-based seed funding to a total of 42 startups across Northumberland and rural Eastern Ontario.

The N1M program matches private investment of up to $30,000, and provides entrepreneurial skills training for founders.

The companies were selected for N1M-2, the second part of the N1M program, in which FedDev announced a $2.2 million contribution to Northumberland’s CFDC’s program to support tech startups in Eastern Ontario. In 2015, FedDev also committed $3.2 million the Western Ontario Community Futures Development Corporation Association in order to support Southwestern Ontario startups.

The N1M program funding matches private investments made in the startups, up to $30,000, and is contingent on performance. The program also provides entrepreneurial skills training for founders, including a four-part group training session on financial management at Venture13, Northumberla..

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Dessa engineers build machine learning supernova identification system

Three engineers at Dessa, a company that works with enterprises to build and implement AI systems, have created a machine learning system that successfully identifies supernovas faster and more accurately than legacy methods.

The machine learning system, named space2vec, is improving the accuracy of identifying supernovas by 10 percent, while also reducing the time previously spent by half.

“We’ve opened-sourced our code in hopes to show people that you don’t need to be an expert to do this.”

Engineers Jinnah Ali-Clarke, Pippin Lee, and Cole Clifford are all big fans of space. They share a desire to assist the astronomy industry as software engineers, through the use of machine learning and AI. All three embarked on a research journey hoping to discover a problem in the astronomy industry that they could use their skill-set to help solve.

“We’re at this point in time where three engineers without any background can help and do significant work,” Lee, a developer at Dessa, told Be..

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Terramera secures $13 million CAD investment from BDC

Technology for clean food company Terramera announced Thursday that it has received $13 million CAD in growth capital financing from BDC.

“Our goal is to help increase agriculture yields by 20 percent while reducing the synthetic chemical load in agriculture by 80 percent.”

The money will go towards the company’s facilities, equipment, and staffing, as well as research and development, in order to accelerate commercialization. Just last year, the cleantech company received $2.5 million CAD from the federal government, through Sustainable Development Technology Canada.

Vancouver-based Terramera specializes in technology for clean food by developing natural alternatives to chemical pesticides and fertilizers, while aiming to increase agriculture yield. Last month, for the second year in a row, Terramera was one of 12 Canadian firms named in the 2019 Global Cleantech 100 list, an annual guide to the world’s top 100 companies in green tech innovation.

“Our goal is to help increase glob..

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A|I: The AI Times – Is Canada an AI leader?

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Only one Canadian company places on list of top 100 AI companies in the world

Despite Canada’s rising reputation as a global leader in the artificial intelligence community, it appears Canadian compani..

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