The federal government unveiled their budget, American investors are flocking to Canadian tech, and our newest tech startups — this is your monthly DMZ news roundup.
Power up with the DMZ’s News Roundup. Our new blog series is dedicated to providing you with a quick look back on what went down in the Canadian startup and innovation ecosystem.
We’ve got you covered with the most relevant news and notable wins from the ecosystem, DMZ updates and more.
Here’s a rundown of what went down in April.
How the Federal budget will impact the startup and innovation economy
The federal government unveiled their long-awaited budget for 2022, which outlines a number of commitments for the Canadian tech and innovation economy. The first budget since the Liberal’s re-election last fall, the 2022 budget focuses on growing the Canadian economy while aiming to make everyday life more affordable. Big ticket commitments include a new innovation and investment agency, a growth fund to encourage private sector investments and a commitment to build a world-class intellectual property regime.
Read more here.
Canadian innovation companies come to a halt on TSX
In the first quarter of 2022, there was not a single Canadian innovation company that went public via an initial public offering (IPO) on the Toronto Stock Exchange. 2021 saw a record breaking year for IPOs, with seven companies going public in the first quarter alone.
Learn more here.
New report shares gender biases women founders face in raising capital
A recent study from the Conference Board of Canada found that compared to men, women take longer to raise Series A financing. Marie Chevrier Schwartz, Founder and CEO of Sampler (DMZV), shares her experiences raising capital and the gender bias she faced with Betakit.
Check out her interview here.
PocketHealth closes $20M CAD Series A financing to transform medical image access
PocketHealth (Incubator ‘18), a patient-centric medical image sharing platform, has secured $20M CAD in Series A funding led by healthcare venture capital firm Questa Capital. PocketHealth will be expanding its talent base, building U.S and Canadian clinical partnerships and invest in product innovation.
Read more here.
U.S investors are pumping cash into Canadian enterprise tech startups
U.S venture-capital investors raised a record $13.6B USD last year in Canadian information-technology startups. In recent years, Google, Microsoft, Intel, and Uber have opened or expanded offices and research-and-development campuses in thriving tech hubs such as Toronto and Vancouver. In turn, this has fostered a homegrown pool of skilled tech workers that is becoming increasingly scarce in the U.S. More than half of all Toronto-area venture-capital deals have included at least one American investor.
Learn more here.
12 tech startups that are disrupting the Canadian tech ecosystem – Meet the DMZ’s Incubator spring cohort
Out of hundreds of the high-calibre startup founders that applied from Canada and around the world, the DMZ has hand-picked 12 tech companies to join a new 18-month cohort in the Incubator. This cohort has startups joining from Vancouver, Canada to Budapest, Hungary, across diverse industries like logistics, insurtech, fintech, proptech, and more.
Check out the tech companies here.