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The Hill is on a journey featuring forward-looking countries that represent extraordinary opportunity for American business and investment. Global Lenses is a series of videos and articles spotlighting these countries, beginning with Canada. Global Lenses: Canada tells stories that celebrate one of the most innovative and diverse countries in the world, showing why Canada ranks as a top country to live, work and play. Through lenses that highlight Canada’s booming industries ranging from technology and advanced manufacturing to renewable energy and agri-food, this series presents Canada as a place where business flourishes and a top country for global direct investment.
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With diverse talent, access to large and growing markets, a sound banking system, low business tax rate and strong geographical and sectoral clusters, Canada’s value proposition is compelling and gives your business a solid foundation for innovation, growth and success. Canada further stands out as the only G7 country with preferential market access to all G7 countries and in its ability to bring in top global talent in as little as two weeks. Find out more at www.investcanada.ca
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Episode 1: Richardson Centre for Functional Foods and Nutraceuticals Feeding the World | Canada is leading the world in the efficient production of safer and more nutritious food. In fact, Canada is number two globally in terms of lowest costs in the agri-food processing sector. In Canada’s Prairies, France-based Roquette is building the world’s largest plant dedicated to pea protein processing. And Canadian research centers do the groundwork that allows Canada’s investment advantages to grow.
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Invest in Canada promotes, facilitates and accelerates foreign direct investment to Canada. We offer confidential services that are tailored to your needs, making it easier and more attractive for you to build your innovative and global business here. Working with partners in Canada and abroad, we make sure global companies like yours get coordinated support for your investment or expansion project.
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The Hill is embarking on a journey to feature forward-looking countries that represent extraordinary opportunity for Americans in terms of business, investment, diversity, and culture. Global Lenses is a video series spotlighting these forward-looking countries, beginning with Canada. Global Lenses: Canada will tell stories through an engaging narrative, that celebrates Canada as one of the most innovative and diverse countries in the world, and why Canada ranks as a top country to live, work and play. Through lenses that highlight Canada’s booming industries such as technology, advanced manufacturing, renewable energy, and agri-food, this video series will show Canada as the country for businesses to flourish and a top country for foreign direct investment. From a lifestyle perspective, Canada’s commitment to education, diversity, and an unmatched talent pool will reinforce that it is the perfect intersection of business, culture and pleasure.
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Halifax, Nova Scotia Katy Brennan, Special to the The Hill As the world’s tenth-largest pharmaceutical market, Canada is not only benefitting from innovations in the U.S. pharmaceuticals industry, it’s growing its own groundbreaking companies and bringing life-saving drugs to the world. One of these companies is now partnering with the U.S Department of Defense and the Centers for Disease Control to combat the mounting bioterrorism threat as well as the more common threats of superbugs, the multi-drug resistant bacteria that are predicted to cause more deaths than cancer by 2050. In 2015, Appili Therapeutics was created to deliver new drugs to meet otherwise unmet patient needs across a broad spectrum of infectious diseases, providing new solutions for patients, doctors, and society both in Canada and around the world. In the past five years, the company has expanded into exciting endeavors, reflecting the overall pharmaceutical production/manufacturing industry in Canada, which has enjoyed 10% employment growth over that time. One of the company’s current programs, known as ATI-1503, is able to tackle four of the six so-called ‘escape pathogens’ that the Centers for Disease Control rates at the highest threats to public health. This is part of the reason they are a valued global partner in the battle to save lives worldwide. Appili is Working with Government Agencies around the World to Address a Serious Bioterrorism Threat Among the company’s potentially most consequential breakthroughs is ATI-1701, a vaccine designed to work against the bacteria Francisella tularensis, which the U.S. National Institutes of Health (NIH) defines as a Category A pathogen (an organism that poses the highest risk to national security and public health). One thousand times more infectious than anthrax, the aerosolized form is considered to have a high potential for use in a bioterrorist attack. Because it was already successfully weaponized and likely deployed in the 20th century, several countries may already have operational weapons programs leveraging this pathogen. In preclinical studies, ATI-1701 demonstrated 100% protection from aerosolized weapons-grade F. tularensis, as compared to a 30% protection from the only vaccine currently used (but not FDA approved) for prevention of disease. Part of the U.S. Strategy to Combat Super Bugs Is Partnering with a Canadian Company Global initiatives to combat antibiotic resistance, including the U.S. National Strategy for Combating Antibiotic-Resistant Bacteria, need companies like Appili as partners—in this case, a company powered by a highly skilled talent pool and supported by the Canadian government’s various supportive programs and incentives. The U.S. National Strategy for Combating Antibiotic-Resistant Bacteria set out five main objectives, including slowing the emergence of resistant bacteria and preventing the spread of resistant infections; accelerating the basic and applied research and development for new antibiotics, other therapeutics, and vaccines; and improving international collaboration and capacities for antibiotic resistance prevention, surveillance, control, and antibiotic research and development. These goals pave the way for a variety of Canadian government programs that are helping make companies like Appili a significant part of the solution. Public-Private Partnerships Are Creating New Opportunities in Canada In response to the global threat of increasingly difficult-to-treat infections, Canadian government incentive programs are encouraging the development of new anti-infectives, making infectious disease an increasingly vital social and business value-driver that benefits patients, the health system, and investors. Increased global awareness of the increasing incidence of multi-drug resistance has driven major improvements in the regulatory environment for new infectious disease medicines, which are driving new interest and investment. The Canadian government is offering significant grants and other non-dilutive funding opportunities, allowing many infectious disease programs to be advanced in a more capital-efficient manner. Among the Canadian entities that have directly benefitted Appili’s life-saving work are the National Research Council Canada and the Atlantic Canada Opportunities Agency. The Canadian effort to fight infectious disease is currently opening up more opportunities for public-private partnerships. Though these initiatives are great news for everyone on the planet, they may be of particular interest to global investors looking for opportunities to invest in life-saving drugs. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
The U.S. Partners with Canadian Innovator to Help Save Lives
How one Canadian pharmaceutical company is helping the U.S. fight bioterrorism and superbugs.
Episode 4: DynaLIFE/AltaML A Partnership that Saves Lives | In 2017, Canadian companies spent close to $900 million specifically on pharmaceutical research and development activities. In the Edmonton Region, DynaLIFE, an industry leading medical laboratory testing company, has joined forces with AltaML, a dynamic tech start-up, to produce AI applications that can diagnose cancers earlier, and with more accuracy than ever before.
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Episode 2: MotiveLAB (Red River College) Cold Starts in Canada | Canada has long been a hub for cold weather transport testing. Now it’s becoming an incubator for technologies that test alternative fuels and high-efficiency vehicles in extreme environments. That tracks with Canada’s ranking as first among G20 countries on the Global Cleantech Innovation Index. At Red River College in Winnipeg, researchers are helping global companies warm up to a brighter cleantech future by investing in Canada.
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Episode 1: Richardson Centre for Functional Foods and Nutraceuticals Food for Thought | Canada is leading the world in getting smart about safer and more nutritious food and its efficient production. In fact, Canada is number two globally in terms of lowest costs in the agri-food processing sector. That’s in no small part attributable to institutions like Winnipeg’s Richardson Centre for Functional Foods and Nutraceuticals at the University of Manitoba, which focuses on the crops of the Canadian Prairies. Acclaimed internationally for its work in advanced bioprocessing and product development, the innovative Richardson Centre offers food for thought on why global companies like France-based Roquette choose to invest in Canada by building the world’s largest plant dedicated to pea protein processing. In short, an investment in sustainable farming and safer, more nutritious foods is something we can all benefit from...
Episode 5: Boeing Lighter, Stronger, Faster | Aerospace is soaring in Canada, which enjoys the lowest cost structure among G7 countries. Global companies can also hire from the world’s most educated workforce. Which brings us to Boeing Canada Winnipeg, and its innovative composite parts manufacturing that’s reducing aircraft weight, fuel usage and maintenance-time. It’s a company in Canada that is enabling the future of flight.
Episode 3: Quantum Silicon The Nanotech Revolution | Today’s world is changing on an atomic scale. Canada is leading the nanotechnology charge by boasting one of the best research-and-development environments for companies. In 2017, Canadian cities added more tech jobs than Silicon Valley and Seattle combined. Now the nanotechnology revolution is coming to computing, and being developed at companies like Edmonton Metro Region based Quantum Silicon.
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Episode 6: Medicago From University Research Roots Comes Mighty Growth | Canada is a world leader in post-secondary research, outpacing all G7 nations on its investments in higher education. Quebec City-based Medicago, a company built on university research roots, is with investment from Swiss and Japanese companies building a production facility in Quebec City to meet global demand for its unique rapid vaccine and antibody R&D and production platform.
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Episode 7: Eastside Canada’s Robots are Here | Canada’s advanced manufacturing sector is one of the reasons why companies are looking North for growth. In fact, in 2018 foreign direct investment in Canada’s manufacturing industry increased by 45% over the previous year. Winnipeg’s Eastside Group is fully embracing automation with technologies like robotic water jet trimming and dynamic 5-axis robotic arms. Eastside is showing that building a company in Canada can deliver a real competitive global edge.
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Episode 8: Coveo Canada Fuels Growth of Powerful AI Engines | Canada is one of the world’s first countries to announce a national strategy for AI. And with a recent year-over-year increase of 460 per cent in AI startups, Canada offers a rich ecosystem of universities, research labs and incubators to help these startups succeed. Quebec City-based Coveo, a leader in AI-powered insight engines and digital personalization technologies, reflects the strength of Canada’s AI ecosystem.
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Episode 9: AMII A Northern AI Star | The future is looking North. Canada has a vast technology ecosystem that is allowing companies to seamlessly integrate robotics and AI into manufacturing solutions, which are reshaping industries worldwide. One of the most transformational organizations in Canada today is the Alberta Machine Intelligence Institute, an organization that helps businesses grow and enhance their AI capabilities.
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Episode 6: Medicago From University Research Roots Comes Mighty Growth | Canada is a world leader in post-secondary research, outpacing all Group of Seven nations on its investments in higher education. Quebec City-based Medicago, a company that has built on its university research roots and grown to see sizable investment from both Swiss and Japanese companies, is currently building a multi-million-dollar production facility in Quebec City to meet global demand for its unique rapid vaccine and antibody R&D and production platform.
Episode 10: Fumoir Grizzly A Growing Bear in a Bullish Market | Canadian foods have long found their way into global markets, bolstered by Canada’s comprehensive free trade agreements with countries representing two-thirds of the world’s GDP. Against this backdrop, Fumoir Grizzly, one of the largest smoked seafood producers in Canada, is thriving – with artisanal seafood exports that have overcome a significant food processing challenge.
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Episode 11: EY Robotics Global Excellence in Robotic Process Automation | EY Canada, part of the UK-headquartered professional services firm with 700 offices in 150 countries, launched its first Global Centre of Excellence for Robotic Process Automation Service in Halifax, using software to perform routine back office processes quickly and accurately. With ICT being one of the country’s fastest growing sectors, Canada is leading the way in customizable digital services for global companies.
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Episode 12: LeddarTech A LiDAR Leader is Driving the Future | Canada’s Global Skills Strategy allows companies to quickly hire highly skilled talent, who can be working in Canada within two weeks. It’s a program helping companies that invest in Canada compete on the world stage. One such firm is Quebec City-based LeddarTech, a leader in LiDAR technology, with patented technology crucial to advanced driver assistance systems and autonomous vehicles including cars, shuttles and robotaxis.
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Episode 13: Ottawa L5 Putting Connected and Autonomous Vehicles to the Test | Ottawa, Canada’s capital, is home to Ottawa L5, the first integrated test environment of its kind in North America for Connected and Autonomous Vehicles. Innovative firms are using the Ottawa L5 facilities for Vehicle-to-Everything testing in a true four-season climate. Canada’s leadership in facilitating innovation is helping drive us all safely into the future.
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Episode 10: Fumoir Grizzly A Growing Bear in a Bullish Market | Canadian fresh foods and delicacies have long found their way into so many global markets. All bolstered by Canada’s comprehensive free trade agreements with countries representing two-thirds of the world’s total gross domestic product. In this backdrop, Fumoir Grizzly, one of the largest smoked seafood producers in Canada, is thriving – with its artisanal seafood exports. Fumoir Grizzly is proving to be just one growing bear in a bullish Canadian food market.
Episode 12: LeddarTech A LiDAR Leader is Driving the Future | To recruit the best minds from around the globe, Canada’s Global Skills Strategy allows companies to quickly hire highly skilled talent, who can be working in Canada within two weeks. It’s a program that’s helped make the province of Quebec alone home to 210,000 workers specializing in Information and Communications Technologies. One such globally competitive firm is Quebec City-based LeddarTech, an industry leader in LiDAR technology, driving the future with patented technology crucial to the advancement of advanced driver assistance systems and autonomous vehicles such as passenger cars, shuttles and robotaxis.
Episode 14: Ubisoft Gaming Gone Global | Canada’s digital-games industry is the third largest in the world, with a deep talent pool and extensive technical resources. The video game industry’s most recent report sees 600 active studios in operation across Canada, a 20% increase in just two years. France-based Ubisoft is the largest game development facility on the planet, with six studios across Canada hiring talent from within Canada and around the world.
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Multi-drug resistant bacteria are predicted to cause more deaths than cancer by 2050.
Episode 15: Invest in Canada Canada Is Attracting the World’s Smartest Investors | Across every growth sector in the global marketplace—from artificial intelligence, healthcare, and entertainment to advanced manufacturing, energy, and research—Canada is attracting attention and investment. A stable, open market with excellent infrastructure, government supports, and a deep talent pool all combine to create extraordinary ecosystems for easy, low-risk and high-yield investment.
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Episode 8: Coveo Canada Fuels Growth of Powerful AI Engines | Canada is one of the world’s first countries to announce a national strategy for AI. And with a recent year-over-year increase of 460 per cent in AI startups, Canada offers a rich ecosystem of universities, research labs and incubators to help these startups succeed. Quebec City-based Coveo, a leader in AI-powered insight engines and digital personalization technologies, recently secured $227 million in global direct investment. Coveo offers proof that Canada’s global success in AI is real.
Canada’s Robots are Here
Episode 7: Eastside
Canada Fuels Growth of Powerful AI Engines
Episode 8: Coveo
A Northern AI Star
Episode 9: AMII
A Partnership that Saves Lives
Episode 4: DynaLIFE/AltaML
Lighter, Stronger, Faster
Episode 5: Boeing
From University Research Roots Comes Mighty Growth
Episode 6: Medicago
The Nanotech Revolution
Episode 3: Quantum Silicon
Cold Starts in Canada
Episode 2: MotiveLAB (Red River College)
Feeding the World
Episode 1: Richardson Centre for Functional Foods and Nutraceuticals
A Growing Bear in a Bullish Market
Episode 10: Fumoir Grizzly
Global Excellence in Robotic Process Automation
Episode 11: EY Robotics
A LiDAR Leader is Driving the Future
Episode 12: LeddarTech
Putting Connected and Autonomous Vehicles to the Test
Episode 13: Ottawa L5
Gaming Gone Global
Episode 14: Ubisoft
Canada Is Attracting the World’s Smartest Investors
Episode 15: Invest in Canada
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Vancouver, B.C. Katy Brennan, Special to the The Hill It’s no wonder some of today’s most visionary investors have taken a keen and active interest in Carbon Engineering Ltd. a revolutionary clean energy company that is leading the world in carbon capture technology. Founded in British Columbia in 2009 by Professor David Keith, Carbon Engineering is taking on the profound challenge posed by the accumulation of carbon dioxide (CO2) in the atmosphere. What Carbon Engineering is doing is nothing short of magical…and money-making, offering investors a rare opportunity to do well and do good with all the efficiency, ease, and relatively lower risks associated with investing in Canada. Capturing CO2—And Turning it into Clean Fuels For the past decade, the company has been designing and engineering a groundbreaking technology that can capture CO2 directly from the atmosphere at large industrial scale and a second technology that synthesizes it into clean, affordable transportation fuels compatible with today’s engines. This proven technology, combined with a variety of public and private partnerships, including supports and programs from the Canadian government, has given Carbon Engineering an edge in its development and expansion both within Canada and around the world. Vancouver Hub Fuels Innovation According to Chief Executive Officer Steve Oldham, being based in Canada has been, and continues to be, far from incidental to the company’s success. “Canada has a great reputation internationally for clean technology and for government and public support around the concept of addressing not just climate change but sustainability as a whole. We’ve got big clusters of clean technology capability here in Canada, and those clusters are how cities like Vancouver become hubs.” Public-Private Partnerships Key Government and public support have played a major role in creating those hubs, which in turn become incubators for innovation. Programs like those from NSERC (Natural Science and Engineering Research Council of Canada) and from SDTC (Sustainable Development and Technology Canada) have made companies like CE possible. As Oldham explains, “Those early funds are crucial and, in general, federal funds and provincial funds in Canada are very well run, very receptive and very accessible, as are R&D tax credits, which are administered by Revenue Canada.” Canada Shows Global Investors the Money What does this mean for investors? “A lot of those programs come with a requirement for matching funding,” says Oldham. “So, if you're an investor looking especially at an early stage company, your dollar goes further because you can get additional government support. Beyond that, in terms of investment in any clean tech company, you benefit from government policies inside Canada, like new fuel standards that support sustainability in clean technology. Plus, programs like the Canada Infrastructure Bank and the Strategic Innovation Fund that you can look to as you grow, where the government joins as financial partner but also shares in the financial success. That's a win-win public-private partnership.” Oldham sees advantages for investors at every stage of development for his company and for others in Canada. “I look at companies having three stages,” he explains, “There is a pre-revenue stage where you are searching for every dollar to support your good idea and bringing it to reality. The second stage is where you're looking to first go to market. That’s often the hardest stage because getting an investment from commercial banks when you're doing something for the first time is always hard. So that's where programs like the Strategic Innovation Fund and the Infrastructure Bank come in to play. Canada offers good support at both of those stages. Then, of course, developing policies around climate change, like the recent announcement from the Liberals joining the election campaign that Canada will go to net zero by 2050 - these are all strong policy statements moving forward as companies like ours flourish.” So where is Carbon Engineering in this process? “We're in the second stage,” says Oldham. “We've gone through that first stage of demonstrating our technology. We’ve had a lot of international visitors to our facility in Squamish, many of them facilitated by the various trade representatives that Canada has around the globe. We’re now in the process of taking our technology internationally and making a lot of progress in the United States in particular. We’re working with a company called Occidental to bring our technology beyond Canada and into the U.S. Our first large-scale commercial plant will be in Texas.” Creating Jobs in the U.S. and Canada So, investing in Carbon Engineering actually means creating jobs in the U.S. as well as in Canada, not to mention bringing the benefits of carbon capture to the States. “Even if the U.S. may seem to be moving backwards on clean energy policy, the policies that are on the books today are really favorable to us in terms of things like tax credits, so this makes sense for us on many levels,” Oldham explains. Carbon Engineering is clearly making a lot of sense in terms of foreign direct investment among leading visionaries, both corporations and individuals, in the fields of energy, technology, and far beyond. “We announced a $68 million US dollar equity raise earlier this year, and the majority of that was foreign investment,” Oldham says, and he attributes much of this to his country’s well-founded reputation for investment. Canada Supports Innovation & Technology “Canada is known as a country where business is operated in a fair and ethical fashion, where the rule of law is well respected and where innovation and technology is supported. Canada is a very good early market. Of course, Canada's market is inherently limited,” he explains. “We're only a nation of about 30 million people. However, the technologies we developed here have built Canada's reputation abroad. Trade treaties have also helped businesses here expand globally. I believe we're the only country in the world that has trade treaties with Europe, North America, South American, and Asia.” Significantly, what the world invests in Carbon Engineering will reap more than financial rewards. “We bring CO2 back down from the atmosphere,” Oldham explains. “Of course, people everywhere are aware of the problem of CO2 in the atmosphere, and a lot of attention is given to how do you stop more CO2 getting into the atmosphere. That is very important. However, of the amount of CO2 that is causing the climate change problem, 95% of it is already in the atmosphere. So even if you stopped emissions tomorrow, globally, you still have a huge challenge to bring CO2 back from the atmosphere, put it back underground again. So that's what our technologies fundamentally does. And of course, the benefits of reversing climate change would be felt in every corner of the globe. Essentially, the mission of our company is the health of the world.” An Opportunity For Investors To Do Well…And Good That’s quite an ambition, of course, and too tall an order for one company to fill. So, for Oldham and Carbon Engineering, partnerships are key. “Our business plan is to license our technology to partners across the globe,” Oldham explains. “We will partner with any company that wants to build our plants in their country or in their market. In so doing, we’re making sure that our intellectual property is protected and that our investors get a reward for their work they've done in growing the company. So international partnerships are hugely important for us. When our first plant in Texas becomes operational about 2022, we’ll enter into a new phase of growth. We’re hoping to have many other plants in development in parallel with this. The faster it goes, the better for everybody.” This is partly because Carbon Engineering’s technology is addressing a particularly vexing aspect of climate change that no other company or technology has been able to tackle: hard-to-eliminate emissions, like those from planes. “It’s extremely hard to decarbonize aviation,” Oldham says. “Nobody is inventing an electric plane. It's not happening anytime soon. There are factors of today's emissions that you can’t eliminate, so you have to offset. We have to allow planes to continue to fly on fossil fuels because we need planes for our economy. But you build one of our plants, and we capture and bury an equivalent amount of CO2. Here is a way in which you can decarbonize all emissions at whatever speed you want to go. There are no excuses.” How quickly carbon capture becomes a global reality will depend on the support of both investors and public policies. Fortunately, this is a technology that enjoys bipartisan support. Why? Oldham explains, “Because the left side of the political spectrum appreciates that our technology as addressing climate change. Those on the right see this as a way in which energy sector, the economic centers that drive so much growth and financial wealth can continue. We will need time to transition off fossil fuel. While we transition away from fossil fuels to synthetic fuels, renewable energy, capturing CO2 from the atmosphere allows us to decarbonize in parallel. We are offsetting the continued need for oil and gas, while oil and gas remains crucial for our economy. With carbon capture technology, we’re serving business today as well as protecting the environment for future generations.” Getting to Net Zero Through Collaboration and Creativity In addition to pursuing a number of international partnerships, the company is now in talks with the Canadian government about a project in collaboration with First Nations across the country to build plants on the lands of tribal people who share a desire for jobs and financial rewards as well as addressing climate change in a particularly effective way. “A lot of countries are adopting net zero targets now. So, we're working with governments, bureaucrats, and leading companies internationally on how carbon capture can help reach those goals,” Oldham says. “We get to net zero either by eliminating all emissions or by taking one molecule out for every single molecule that goes out. So now both solutions are available.” Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
"This is a technology that enjoys bipartisan support…the faster it goes, the better for everybody"
"The mission of our company is the health of the world."
"We’re now in the process of taking our technology internationally and making a lot of progress"
Carbon Engineering CEO Steve Oldham
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Vancouver, B.C. Katy Brennan, Special to the The Hill Combining the energy of idealism with the power of cutting-edge science, Terramera is using technology to unlock the power in nature, make clean food affordable and feed more of the world through sustainable farming practices. Through clean technology, they are helping to increase global yields while decreasing synthetic chemical loads in agriculture worldwide. For investors, the possibilities are two shades of green; helping to save the planet never tasted so profitable. Canada Cultivates Sustainable Agriculture & Clean Tech For Founder and CEO Karn Manhas, the company’s roots in Canada are the key to its success. “Canada is a really interesting place in terms of innovation because of the amount, over the decades, the Canadian government has invested in universities,” he explains. “This has created a really special resource in terms of talent. In terms of sustainable agriculture specifically, and clean tech in general, there's a strong cultural interest already. Caring about our place in the world is part of the culture.” The Canadian government has actually invested several billion dollars on helping support Canadian clean tech companies, and that's across clean tech including sustainable agriculture. “There’s a strong view that we need to apply the best innovations and technology to make the cleanest, most sustainable technologies the best economic options,” Manhas explains. “Here in Vancouver, we know that we can actually do well economically by also doing well by the environment.” Canada to Tech Talent: Come Innovate, We’ll Make It Easy for You Beyond the local talent pool, Manhas has been able to attract top global experts for two key reasons: the attractiveness of the county and its active commitment to enabling immigration among the world’s best minds. “Not only do people want to be part of something that is going to change the world, but they’re also excited to come to Canada,” Manhas explains. “More importantly the Canadian government has supported that through a relatively new program called Global Talent Stream. When we first started the company, it would take five, six months to be able to get permits. They've really streamlined it for top global talent in companies like ours that have developed a level of trust. We were one of the first companies that really started to take advantage of that.” Once key players are in place, growth is organic. “It doesn’t really take a lot of people. It's just getting that keystone talent that holds everything together,” he explains. “People with specialized talent come and train a team around them. And when they come to Vancouver and they fall in love with it.” Universal Health Care Enhances Quality of Life They also love the health care system and other government supports that improve their quality of life. “I think it's one of those things that are a reflection of Canadian values,” says Manhas. “It’s like we’re saying ‘come here and focus on what you can do to make the world a better place. You're going to be cared for and supported for. You don't need to worry about covering education costs and what's going to happen to you if you get sick. You're going to be supported and cared for.” Canada Offers Low Risks and High Yields Manhas notes several advantages for investors as well. “Investing in a Canadian company makes investment dollars go much further, and so it de-risks a lot what they're doing. And that's not just about the Canadian dollar. There are actually a number of supports available for investment in all teach companies. For example, there’s a SR&ED credit, for example, and the Industrial Research Assistance Program, to ensure that key and valuable research, industrial research that has industrial applications is de-risked. International Investors Doubling Down When we were very small, we had a lot of investors really pushing us to move out of the country to where they were to be closer oftentimes to the U.S. But I think a lot of our investors including our U.S. investors and international investors, once they see the value of many of these support systems have really doubled down. We've had a number of investors where it was the first time they had ever invested in Canada, and I think they were surprised at how straightforward it is and also that the wealth of opportunities that exist here that, after they did the investment in us, they did a whole bunch more in Canada after that.” Trade Commission Plants Seeds, Feeds Growth One of the other big benefits of being a Canadian company, Manhas notes, is the robust trade commission service. “If you're a Canadian company, you have access to this huge network of hundreds of trade commissioners that are located all over the world that are basically extensions for the company to be able to go and find research or partner or do on the ground field evaluation and really help the company in locations all over the world. And I've not seen anything like that,” he says. “Many countries have trade investment services, but the breadth and depth and extensiveness of the Canadian trade services is unbelievable. It certainly helps to de-risk our growth and also increase awareness of what we're doing worldwide.” Ensuring Sustainability Through Profitability So what are they doing, exactly? “What we do, essentially, is computational chemistry,” Manhas explains. “We’re using the most advanced technologies that really we wouldn't have even had access to a couple of decades ago to transform how agriculture is done, make it more efficient and more productive. My view around clean tech is it's not enough for things to be more sustainable. It actually has to be better and easier and more economical. We’re asking how we can re-imagine how agriculture works, can we make it so that it's not only has a lower impact and is more sustainable, but it's also more consistent and profitable for everybody that's involved.” Feeding the World Through Computational Chemistry and AI So we have a set of technologies that include the application of computational chemistry to develop greener chemistry, more efficient chemistry solutions that we sell and build ourselves, but a big part of what we're doing is licensing and partnering with producers of agricultural farm inputs and to help make their products more efficient. And then we've got a whole machine learning and AI platform which is really looking at how crop inputs actually affect the plant to be able to help advise farmers when they should actually apply what they're applying. As we scale out, over the next 10 or 11 years, basically by 2030, our goal is to decrease the synthetic chemical load in agriculture by 80%. So we’ll reduce the synthetic chemicals that are required to be used in agriculture by 80% while helping to increase farm productivity by at least 20%, which would be enough to feed an additional billion people.” Actigate: Increasing Yields and Decreasing Toxins Through Precision Delivery Systems Among the first set of technologies the company is introducing is called Actigate. “Actigate is a platform where we use computational chemistry to understand the chemistries that are actually already being used on farm, whether they're organic or conventional, and 97% of the market is conventional. That's a big area that can be much more efficient,” Manhas explains. He uses a clear analogy to explain what most of us would never consider about toxic chemicals used in agriculture: unnecessary pollution and waste. “One of the things people don't realize is oftentimes, 60 to 90% of what's sprayed onto a farm isn't taken up to where it needs to go. So it'd be like if you had a headache, taking a shower in aspirin water instead of taking that pill. The aspirin would be dissolved in the water washing over you, and much of it would just go down the drain; it’s not actually getting to where it needs to go to. Actigate makes sure that what is being used on a farm is much more efficient and gets only where it needs to get to and not to other places where it shouldn't be.” Harvesting A Most Meaningful ROI In Manhas’s view, it's about creating systems and technologies that create not just more sustainability, but better economic returns as well. “Every dollar of investment is a 20-fold return to getting this right over the next 10 to 30 years. There’s about 4.7 billion acres of farmland in the world. There's a study that's been done on converting acres to some regenerative acres, regenerative farming. And out of the 4.7 billion, if you were to focus on trying to convert 100 million acres, there would be a fair amount of cost of investments, probably about a $57 billion investment to convert 100 million. But the return would be over a trillion dollars between now and over a 20 year period. And that's a return back in increased productivity on the farm. So the economic returns are huge. And they're measurable.” Sowing the Seeds of Global Growth What Terramera's doing is putting the tools and technologies in place to allow farmers to be able to create this regeneration and efficiency and then allow the world to decide how they put their investment dollars. The way Manhas sees it, “$57 billion seems like a lot of money, but if you put the technologies in place, it's not a lot for them to invest to have those kinds of returns.” Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
"Every dollar of investment is a 20-fold return to getting this right over the next 10 to 30 years."
"Investing in a Canadian company makes investment dollars go much further, and so it de-risks a lot what they're doing."
"Here in Vancouver, we know that we can actually do well economically by also doing well by the environment."
Terramera Founder and CEO Karn Manhas
Vancouver’s Terramera is changing the paradigms of sustainable agriculture
Calgary, Alberta Katy Brennan, Special to the The Hill As the energy sector undergoes a fundamental shift worldwide, Calgary-based Ambyint, formerly known as Pumpwell Solutions, is perfectly positioned to grow. That it’s based in Canada is fundamental to both its success and its potential, given the ease, reduced risk and substantial profits enjoyed by investors in the Canadian energy and AI sectors this unique company straddles. The Energy Sector’s Answer to the Self-Driving Car Ambyint combines traditional physics-based methods with modern artificial intelligence and machine learning to provide artificial lift and production optimization solutions to the oil and gas industry. In essence, the company’s technology is the industry’s answer to the ‘self-driving car.’ It’s using Edge, Internet of Things and AI/machine learning to create autonomous oil fields with greater efficiency, higher outputs, and lower costs. The company’s distinct capabilities, combined with its fortuitous base in the innovation base of Calgary, is already making the company a success story for foreign direct investment. The Perfect Investment That Just So Happened to be in Calgary In fact, Ambyint CEO Alex Robart first approached the company from that perspective. “I'm in this odd hybrid, company operator and investor,” he explains, “My twin brother and I are entrepreneurs and had just sold a couple of companies within oil and gas industry. I had been focused in the research/software side of things and my brother in oil and gas exploration and production. When we came across Ambyint, it just happened to be in Canada. I wasn't actively looking for a community. But in hindsight, it's offered a lot of advantages, particularly Calgary’s phenomenal talent pool. It’s not a massive capital, but on a per capita basis, you do get much stronger modern web technology talent pools than in Houston.” To connect with its customer base, the company maintains offices in Houston, which Robart notes is “a phenomenal engineering town but doesn't have a per capita critical mass of modern web technology experts we have in Calgary. Today our entire technology team, with a couple of remote exceptions, is in Calgary. About every six months, as I’m re-evaluating where I want to build my talent pool, I keep on coming back to Calgary and finding better value. It's probably a 30-40% discount for my community resources versus my Houston resources.” Geography, Education, and Health Care Contribute to Calgary’s Quality of Life Calgary’s unique talent pool, combined with some extra funding from SDTC (Sustainable Development and Technology Canada) and provincial R&D support has made adding resources in Calgary, a “no-brainer” for Robart. “As Americans and with no prior experience making investment decisions in Canada, we’ve found a lot of compelling factors to keep investing in Calgary.” He explains, “Our total cost is more than twice for on an employee in the U.S. versus Canada; health care is the biggest part of that. Overall, we’re benefitting from Calgary’s outstanding resources in terms of tech talent, plus a low crime rate. Just like most Canadian cities, and it's a very livable city, and you've got your mountains right there, so there's a lot of quality-of-life factors as well.” Robart to Silicon Valley Investors: A Change Would Do You Good From the standpoint of investment, Robart feels many investors simply need to learn more about investing in Canada. “So much of the critical mass of venture capital, and most Silicon Valley, most venture investors, they don't like to change things up from a transaction-structuring perspective. The standard is doing an investment into a Delaware C Corp, and a lot of venture guys who've never done anything but an investment into a Delaware C Corp. That’s just how they do things,” he observes. “If they’ve never done an investment into a Canadian entity, they may feel they don't have the time to do a bunch of homework and legwork and gets on attorneys as to what are the favorable aspects of investing in Canada. It's just a lack of knowledge.” The same barrier to growth within the oil and gas industry he sees among many U.S. based investors: resistance to change. The winners will be those who seize opportunity by choosing the right partners with whom to learn and grow. Investing in Canada is Easy: Just Hire the Right Lawyers “Though we are seeing more Silicon Valley company industries getting more comfortable doing investments into Canadian entities, it's still not the norm by any means,” Robart observes. “The key is getting the attorneys. They touch all the deals, and so they're the ones who have the pulse on how things are evolving and provide the guidance on some of the transaction structure stuff. There’s probably a dozen law firms that do the vast majority of the series A, series B, and beyond venture transaction work. Give it to them. They can then tell the venture guys that, Hey, it's okay to do a deal into an Alberta or an Ontario or a BC entity. Here's the benefits you can expect. Here's the trade off and risks.” Robart has a simple message for other investors looking to grow who have not yet explored opportunities in Canada. “It's your call, but there's benefits that you're not probably accounting in your calculus.” Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
"It's your call, but there's benefits that you're not probably accounting in your calculus."
"I keep on coming back to Calgary and finding better value. It's probably a 30-40% discount for my community resources versus my Houston resources."
"It’s not a massive capital, but on a per capita basis, you do get much stronger modern web technology talent pools than in Houston."
Ambyint CEO Alex Robart
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Seeing all Canada
has to offer
• Winnipeg’s GDP of over $43 billion reflects growth almost twice the national average. • The Royal Winnipeg Ballet is the longest continuously operating ballet company in North America.
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• With the fastest rate of job growth and the fastest growing economy in Canada since 2013, Vancouver has Canada’s most diverse economy. • Botox and the California roll were invented in Vancouver.
• Calgary ranks as the most livable city in North America, with a 100% rating in stability, healthcare, education and infrastructure. • Calgary enjoys more days of sunshine than any other major Canadian city.
• The Edmonton Metro Region leads Canada in export growth, $8 billion of which comes from manufacturing. • Edmonton has the largest stretch of urban parkland in North America.
• Saskatoon is the largest city in Saskatchewan, a province of a 1.1 million people. • Saskatoon is known as the “Paris of the Prairies” because of its seven bridges.
Explore 26 facts about Canada’s cities.
Invest in Canada has partnerships to help global investors find business locations from coast to coast in Canada. This includes 13 of Canada’s largest municipal regions in the Consider Canada City Alliance, presented in the photos below. Click on the photos to reveal interesting facts—both investment-related and randomly fun—for each of these Canadian cities.
Explore Canada’s largest cities.
Invest in Canada has partnerships to help global investors find business locations from coast to coast in Canada. This includes 13 of Canada’s largest municipal regions in the Consider Canada City Alliance, presented in the photos below.
Invest in Canada promotes, facilitates and accelerates foreign direct investment to Canada. We offer confidential services that are tailored to your needs, making it easier and more attractive for you to build your innovative and global business here. Working with partners in Canada and abroad, we make sure global companies like yours get coordinated support for your investment or expansion project. With diverse talent, access to large and growing markets, a sound banking system, low business tax rate and strong geographical and sectoral clusters, Canada’s value proposition is compelling and gives your business a solid foundation for innovation, growth and success. Canada further stands out as the only G7 country with preferential market access to all G7 countries and in its ability to bring in top global talent in as little as two weeks. Find out more at www.investcanada.ca
Vancouver, B.C. / Montreal, Quebec Katy Brennan, Special to the The Hill DNEG, a company that thrives on the positive power of storytelling, has a particularly positive story to tell about investing in Canada. Since opening its first studio in London in 1998, DNEG has thrived on global collaboration. One of the world's leading visual effects, animation and stereo conversion companies for feature film and television, DNEG has studios in London, Mumbai, Los Angeles, Chennai, Chandigarh, Hyderabad and Goa, as well as Vancouver and Montreal. And the Oscar Goes to… DNEG has won the Oscar for ‘Best VFX’ for four out of the last five years. In total, they’ve been honored with 5 Academy Award® wins, 5 BAFTA® Awards, 2 Emmys® and 10 Visual Effects Society Awards for visual effects work on shows like ‘First Man’, ‘Altered Carbon’, ‘Blade Runner 2049’, ‘Dunkirk’, ‘Ex Machina’, ‘Interstellar’, ‘Inception’ and ‘Harry Potter and The Deathly Hallows Part 2’. Their current projects include movies such as ‘Dune’, ‘No Time To Die’, ‘Fast & Furious 9’ and ‘Wonder Woman 1984’, TV shows such as ‘Westworld Season 3’, ‘Doctor Who Season 12’ and ‘Altered Carbon Season 2’ and animated feature film ‘Ron’s Gone Wrong.’ Stuart Farley and Gavin Graham, General Managers of DNEG in Vancouver and Montreal, respectively, see the company’s increasing focus on growth in Canada as essential to its success. A Global Vision As content creators across film and television increasingly turn to visual effects to support their storytelling aims, DNEG has grown exponentially. Developing teams across the globe has never been so important. In particular, the high-tech teams in Canada have played a pivotal role. “In our industry, the ebb and flow of work around the globe means we need extensive coverage for all of our projects,” Farley and Graham agree. “Among all our teams worldwide, we work around the clock to meet the standards we’ve set for ourselves and for which we’ve become really well known.” A Sharp Focus on Canada “Expanding into Vancouver and Montreal was an obvious step for us,” they explain, “Both cities are hubs of creativity and innovation, and hotbeds of artistic talent. The proximity to one of our key markets, paired with the efforts of our talented teams there, has certainly boosted DNEG’s presence in North America.” “Our Montreal and Vancouver studios often share resources and work closely together on projects, providing a valuable gateway for our global client base and fostering a creative, resource-rich environment which continues to grow.” Today, a huge amount of physical production takes place in Canada, with locations capable of standing in for any number of US or European cities, or to be filmed as themselves just as easily, and there are a wide range of studios available to handle even the largest productions. For post-production, Canada has long had a reputation for excellence, with much of the foundational software that the VFX industry runs on originating in Canada, or having a large amount of ongoing development done here. The wider technical community has a lot of depth too, with a huge number of gaming companies based here, along with new fields like Artificial Intelligence also developing centers of excellence. Tech Hubs Set the Scene for Growth and Innovation “Canada is rapidly becoming—if it is not already—the world's primary hub for visual effects,” say Farley and Graham. “This is due in large part to the perfect blend of geography, talent, and infrastructure. The scale at which we, and many of the other UK-headquartered VFX studios, have been able to grow in recent years in Canada is a great testament to the availability of well-trained talent and attractiveness of the locations for people to move to.” “The climate for businesses in Canada is excellent. There are great universities and colleges covering both critical technical and creative areas, a high standard of secondary schooling, and a welcoming immigration policy which allows for specific expertise to be brought in where necessary without friction,” they explain. “A strong network of government bodies and supporting organizations have made both initial setup and ongoing operations go very smoothly. For the workers, the quality of life is exceptional with great culture, outdoor activities and fascinating areas to explore.” “Having a strong presence in Canada—in both Vancouver and Montreal—as part of our global network allows us to have a truly around-the-clock seamless experience,” Farley and Gavin explain. “We can interface with clients on LA, East Coast, London, and Asian time zones, accessing a global talent stream and offering stable hubs where artists can base their lives and careers.” The Power of Place: Talent is Attracted to Canada “Having a strong presence in Canada allows us to attract key artistic and technical talent into highly desirable locations,” they say. “We’ve been able to develop the local VFX communities—increasing recruitment of Canadians, working with education establishments to grow local talent, and provide stability to careers and the volume of work deliverable through our Canadian offices.” This Canadian footing also offers the global company a key strategic advantage in an industry that has strong ties to major studios in the States. For DNEG, continued growth and investment in Canada is clearly panning out beautifully. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
“The climate for businesses in Canada is excellent. There are great universities and colleges . . . and a welcoming immigration policy which allows for specific expertise to be brought in.”
“Both [Vancouver and Montreal] are hubs of creativity and innovation, and hotbeds of artistic talent.”
“Having a strong presence in Canada allows us to attract key artistic and technical talent into highly desirable locations.”
Stuart Farley and Gavin Graham, General Managers of DNEG
Calgary, Alberta Katy Brennan, Special to the The Hill Forward-thinking investors looking to fight climate change, protect the planet, and make a nice profit in the process are increasingly looking towards renewable energy companies. Right now, many are looking up, towards the sun, and north towards Canada, a leader in solar energy development and shining example of its potential to shift the energy mix on a global scale. Renewables Growing in the Heart of Oil Country Perhaps the most exciting place to look right now is right in the heart of oil country, in Calgary, Alberta. This power house of the north is not only home to some of the world’s largest oil and gas companies. It’s also a hub of innovation in clean tech and renewable energy, including the industry-leading privately held Greengate Power Corporation, a renewable energy project developer whose wind energy projects (the largest in the country) currently represent well over $1 billion of investment and provide a clean source of power to nearly a quarter of a million homes. Their solar projects are aiming even higher. Making Green Energy More Green According to the President and CEO of Greengate, Dan Balaban, the company’s mission is to make renewable energy as profitable for investors as it is beneficial for the planet. “We take an idea for a renewable energy project, and do all the work to turn that idea into a financeable opportunity, or an investible opportunity for individuals as well as pension funds, infrastructure funds, and utilities. Then we see those projects through to completion and operation.” A native of Calgary, Balaban worked with oil and gas companies for many years, helping them use the latest software technology to control emissions. Seeking greener pastures, literally, he established Greengate Power in 2007 to both seize and create opportunities in renewable energy. His success has been nothing short of history-making for its ambition and scale. Scaling Up Renewables: Mega Projects for Megawatts “Where we've really created a niche for ourselves is in doing mega projects,” Balaban explains. “To date, we developed two of the largest operating wind energy projects in Alberta. One of which is the largest in Canada. We're starting construction with our partners, Potentia Renewables, and the Paul First Nation, on our third wind project in Alberta next year.” Following in this tradition, Greengate is now developing the largest solar energy project in the country, one of the largest in the world. Under development since 2017, Travers Solar is a 400 megawatt project on approximately 4,700 acres of privately owned land in Vulcan County, Alberta. “We’re hoping to be under construction by the middle of next year, and be fully operational by the end of 2021,” Balaban says of the solar field that is expected to operate for well over 35 years. “It’s comparable in size to some of the largest projects being built in the desert in the United States. It's a half a billion-dollar project, set to provide a clean source of power to more than 100,000 homes,” Balaban explains, offering a sense of scale. “It'll consist of approximately 1.5 million solar modules, spread over 5,000 acres of prairie. That’s about a third of the area of the island of Manhattan.” Canada Is Leading the Renewable Boom “We're a very attractive place for companies that want to grow their renewable portfolios to invest,” says Balaban, meaning not just his company, but also his country. “There's tremendous opportunity in Canada. The renewable energy market is growing here,” he explains. “We're an innovative country. We're extremely well regulated and environmentally responsible in the way we conduct business. With our politically stable climate, I think Canada is a very attractive place.” “We’re a country that takes the climate change issue very seriously. In our last federal election, two-thirds of Canadians voted for parties with climate change a central part of their platform. It's clearly a priority for Canadians,” he says. “We also have phenomenal renewable energy resources in various parts of the country,” he explains. “As we're going through the process of cleaning up our grid across Canada, we’re creating opportunities for new renewable energy projects to be brought online, and opportunities for foreign companies to potentially invest in those projects. This is a great time and place for foreign companies to grow their renewable energy portfolios in a politically stable country, with substantial renewable energy resources and a strong regulatory framework.” Carbon Policies Create Opportunities for Transformation, Growth, and Investment As Balaban points out, the carbon pricing policies in place across Canada are creating disincentives for emitting sources of power generation and incentives for more clean sources of power. “Every province across the country has experience in renewable energy,” he says. “Alberta has a grid today that's reliant primarily on coal-fired electricity. All that coal is going to be retired over the next 10 years and a lot of it is going to be replaced with renewables. In particular, wind and solar.” “Alberta has the only deregulated power generation market in Canada. We have carbon pricing on the large industrial emitters and some phenomenal renewable energy resources. We've got the best solar resource in the country and some of the best onshore wind resources in the world.” Beyond Subsidies, Renewable Energy Costs are Coming Down “Every province has jurisdiction for the power sector, so every province has its own unique set of policies. There were a number of provinces that took early action on renewable energy. In particular, Ontario and Quebec, the two largest markets in Canada,” Balaban explains. “But what we're seeing now is that renewable energy costs have continued to come down. Efficiency has continued to improve. More and more renewable energy makes sense on a market based, subsidy-free basis.” “We're proving it in the heart of oil country. We're based in Alberta. Alberta is an economy that depends very heavily on oil and gas. We're developing renewables in the heart of oil country, on a subsidy-free market basis, and proving that renewables are cost-effective and profitable,” he says. “I do believe that the largest near-term opportunity in Canada for the growth of renewables is in Alberta, which is our home province,” he says. “But I think the sort of work we do can definitely apply in other markets, and help grow renewables around the world.” “When I started the company in 2007, it definitely took some vision to see where the industry was going,” he explains. “But what I've seen over the last 12 years that I've been in the business is, technology has improved. Costs have come down.” “I think we've reached the tipping point in the last year or two. Now investment in renewables is not done solely for environmental reasons. It's done for a combination of environmental and economic reasons.” Why Canada Leads in Solar As Balaban points out, many Canadian provinces have had policies in place to encourage solar growth, including Ontario, an early leader in this movement. But he points to his home province of Alberta as a natural choice for solar. “We're the sunshine state of the north,” he says, proudly. “Our solar resource for the purpose of producing electricity is as good as that in the state of Florida.” According to Balaban, that being far north is not suitable for solar is a total misconception. “It's actually the opposite,” he explains. “Solar photovoltaic technology, otherwise known as solar PV, it's the predominant solar technology that's used in the world today. It actually operates more efficiently under sunny but relatively cool temperatures. The climate in Canada works to our advantage for the purposes of producing electricity from the sun.” “We have many parts of the country that have tremendous sunshine. In Alberta, we have more than 300 days a year of sunshine, so we’re perfectly suited for solar PV.” Sustainable Energy Growth Is Inevitable The way Balaban sees it, even when some governments step back on their active support of renewables, there's a lot of other support that's coming from companies. Speaking specifically about the United States and U.S. companies, he says, “Those companies have sustainability goals, because that's being mandated by their investors. It's something that people care about.” “Climate change is an important issue, and something that we need to address urgently.” With technology improving and costs coming down, he’s optimistic that we'll get to a sustainable energy future, and soon. “We can have our cake and eat it too. We can do the environmentally responsible thing, and earn a profit at the same time,” he says. “I believe that's ultimately the way the world will address the climate issue, by finding alignment between the financial opportunity and benefiting the environment. Because at the end of the day, the financial system is really what governs where investment goes.” Our Lives Are About to Change in a Powerful Way As an energy sector professional who has always worked on the leading edge of technology disruption, Balaban sees transformation coming, and soon. “I started my career in helping companies use the internet to improve the efficiency of their businesses, at a time where the internet was still a relatively new technology,” he explains, “But just like the internet fundamentally changed the way we communicate and conduct business, I believe renewable energy will fundamentally change the way we produce and consume energy.” The Future of Energy Is in the Mix…and in Canada Looking into the distant and not-too-distant future, Balaban sees fossil fuels and renewables playing together nicely, as they so clearly do today in his hometown of Calgary. “I don't think the polarization is useful,” he explains, “I don't think it's a decision between oil and gas—I don't think it's either/or. I think it's an and. I think we should be developing our oil and gas resources and we should be developing our renewable energy resources.” “The world is still consuming fossil fuels,” he says. “While the world is still consuming fossil fuels, I believe there's a strong case to make for it to be using Canadian fossil fuels. We're among the most responsibly produced fossil fuels in the world. It’s an evolution that's happening over time.” Not too long a time, though. As he illustrates in his mega projects coming to fruition right now, and clearly asserts, “I think the pace of change is going to accelerate in the coming years. I believe renewables are now a compelling investment.” “We’re going to soon see massive renewable energy growth in Canada and around the globe.” Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
“We can have our cake and eat it too. We can do the environmentally responsible thing, and earn a profit at the same time.”
“The climate in Canada works to our advantage for the purposes of producing electricity from the sun.”
“This is a great time and place for foreign companies to grow their renewable energy portfolios in a politically stable country, with substantial renewable energy resources and a strong regulatory framework.”
Greengate Power President and CEO, Dan Balaban
“There's tremendous opportunity in Canada. The renewable energy market is really growing here.”
Hamilton, Ontario Katy Brennan, Special to the The Hill When the Next Generation Manufacturing (NGen) Supercluster in Hamilton, Ontario announced its first project in August of 2019, a new era of Canadian leadership in advanced manufacturing began. This innovative public-private partnership is one of five funded by Canada’s federal government and it’s already fostering growth and innovation by helping companies large and small develop manufacturing-related technologies and bring them to market. Most importantly, it’s fostering an advanced manufacturing ecosystem that’s creating a model for the rest of the world. Superclusters Are Transforming Canada’s Innovation Economy In Canada, thriving ecosystems of small, medium-sized, and large companies, academic institutions and not-for-profit organizations are generating bold ideas, groundbreaking research and a world-leading innovation economy that creates global market leaders. With an investment of up to $950 million, matched dollar for dollar by the private sector, the Government of Canada has challenged Canadian businesses of all sizes to collaborate with other innovation actors, including post-secondary and research institutions, to propose bold and ambitious strategies that would transform regional innovation ecosystems and develop job-creating superclusters of innovation, like Silicon Valley. NGen is one of Canada’s five federal government-funded clusters including the British Columbia-based Digital Supercluster, the Prairies-based Protein Supercluster, Quebec-based SCALE.AI, and Atlantic Canada’s Ocean Supercluster. According to NGen CEO Jayson Myers, the industry-led not-for-profit group functions like both an investment bank and a concierge of sorts, making connections among investors, manufacturers, researchers, and universities, and creating a whole ecosystem to build collaborative projects that deliver world-leading capabilities. Foreign Investors Are Taking Notice “We're getting a lot of interest from foreign investors, from international companies,” says Myers. “They're coming to us because to navigate through this ecosystem and to connect them with some of the world leading researchers or some of the smaller tech companies, that can be a part of what they're looking for in terms of scaling up production or accessing technologies to incorporate in their value chains.” “Pay attention to Canada,” he says. “We have a lot of strengths that are now leveraged in ecosystems to support investment. In many areas of advanced technology Canada is really a leader particularly when it comes to advanced technologies in manufacturing.” “In terms of research, tech startups, and the presence of leading international tech companies and manufacturers, we've got a very strong concentration, particularly in Southern Ontario and Quebec, but really right across Canada.” Leveraging Leadership Through Partnership “Canada’s leadership is clear in areas like artificial intelligence, additive manufacturing, cybersecurity, quantum computing, automation systems and robotics, IoT software connectivity, and materials,” he says, naming a few areas of growth. “What we’re doing at NGen is combining Canada's strengths in technology and manufacturing to really drive world-leading capabilities and advanced manufacturing here and really leverage the strengths that we have.” “We're one of five superclusters,” Myers explains. “We've received $230 million from the Canadian government to work in partnership with a number of other public sector and private sector funders and we're operating as an investment fund itself, so we invest in collaborative projects, and in order to do that we play an active role in kind of orchestrating the partners for those projects.” Cultivating Relationships in Hotbeds of Start-Up Activity Many of Canada’s world-class universities and public and private research centers across the country specialize in areas of advanced technology. Today, Canada is home to four world-class startup ecosystems in the Toronto-Waterloo corridor and in Montreal, Vancouver, and Calgary. “These really are hotbeds of startup activity,” Myers explains. “Not only in software but in a lot of advanced devices and in industry 4.0 technologies with applications in manufacturing.” NGen’s mission is to cultivate relationships within these ecosystems around technologies that can be applied in manufacturing to improve processes, to develop new products, and foster growth among smaller technology companies with manufacturing capabilities. “Manufacturers want solutions,” Myers explains. “In many cases, we’re connecting international manufacturing companies with technology companies to develop integrated solutions.” Connecting Investors with Opportunities “Our focus is building collaboration and ecosystems around corporate interests to deliver the solutions they're looking for,” Myers explains. “In working with investors, both international and domestic, we work to find the right mix of technology companies and researchers that would provide value for their investment.” “For anyone who is interested in investing in Canada, establishing, putting a new product mandate in Canada on the manufacturing side or even on the technology side, we can make it very easy to navigate the advanced manufacturing ecosystem in Canada,” Myers says. “We can help bring the right companies to the table to support that investment, to expand supply chain into Canada, or expand their innovation networks in Canada, to connect them with the training, educational, and research capabilities across the country.” “For investors,” Myers explains, “we are acting as a sort of concierge through the advanced manufacturing ecosystems around Canada. “Our focus is on growth and company success, scaling up small companies and helping larger companies grow their supply chains and business here in Canada,” he says. “We see advanced technology as a capability that can contribute exponentially to company growth.” “Smart investors are looking to the strengths of ecosystems. It's not companies that compete anymore, it's ecosystems,” Myers explains. “We see the importance of knitting together, connecting, building collaboration and strengthening advanced manufacturing ecosystems in Canada, but particularly around investments. The key is to successfully put together the right solutions, put the right companies in partnership and then leverage up the investment as a result of that.” Investors Leading Investors “We're a startup ourselves, and we're now funding technology development and adoption projects. The first four projects that we have funded, we have a return on the investment or a projected return on the investment of 35:1,” Myers says. “The first project we funded is the development and the operation of a new technology to manufacture lentiviral vectors. This is the substrate for stem cell development of new cancer fighting therapeutic drugs. This dramatically reduces the cost and time to manufacture it, and it's actually an anchor for a multinational company that is going to be using this technology, partnering with the technology company, and developing an ecosystem around it.” “We're a bit unique as a funding organization,” Myers explains. “We're funding industry. We don't fund researchers, we're funding demand. And we’re funding collaborative consortia projects that are bringing together companies and various organizations to solve big problems.” “We're essentially partnering with other funding organizations to leverage up other funding opportunities to support those projects.” Reduced Risk Through Partnership “I don't think any company can afford to make investments on their own without looking at who their partners are, what the strengths of the ecosystem are,” says Myers. “International investors coming into Canada want to know where they can find the right skills and innovation partners to build the right ecosystem and really do something transformative in their business.” “Clearly any investment today in the world of advanced technology, if it’s going to be successful, needs to be collaborative,” Myers says. “To access the best solutions and to lower the risk for everybody, including funders, investment houses, manufacturers and technology companies.” NGen actively invites membership on its site, ngen.ca, to join in these ecosystems. “We have strategic objectives that we want to achieve,” Myers explains. “To get funding through us, companies need to be incorporated and doing business in Canada and the project has to be undertaken in Canada. But we're always looking for good projects to boost advanced manufacturing capabilities in Canada and develop new investment opportunities for ourselves and others.” For foreign investors, NGen’s open door represents an extraordinary opportunity for easy, low-risk, and profitable endeavors in advanced manufacturing. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
“To be successful, [any investment in advanced technology] needs to be collaborative.”
“We work to find the right mix of technology companies and researchers that would provide value for their investment.”
“Pay attention to Canada. We have a lot of strengths that are now leveraged in ecosystems to support investment.”
NGen CEO, Jayson Myers
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Episode 3: Quantum Silcon The Nanotech Revolution | Today’s world is changing on an atomic scale. Canada is leading the nanotechnology charge by boasting one of the best research-and-development environments for companies. In 2017, Canadian cities added more tech jobs than Silicon Valley and Seattle combined. Now the nanotechnology revolution is coming to computing, and being developed at companies like Edmonton Metro Region based Quantum Silicon.
Regina, Saskatchewan Katy Brennan, Special to the The Hill Investors looking for opportunities in environmentally sustainable growth sectors are paying close attention to the increasing global appetite for plant-based proteins. For ease of entry with lower risk and higher potential returns through powerful partnerships, they need look no further than Canada’s Protein Industries Supercluster. One of the country’s five government-fed and industry-led not-for-profit Innovation Superclusters, Protein Industries Canada (PIC) is working with private sector industry partners to seed a variety of for-profit manufacturers of high-quality plant protein and plant-based co-products. Meeting a Growing Demand As the global population grows, so does its demand for food, specifically protein and, given current environmental and societal trends, most specifically plant protein. An established, trusted supplier of food worldwide, Canada is perfectly (and perhaps even uniquely) positioned to meet this demand. Sowing the Seeds of Growth and Innovation The whole supercluster initiative in Canada is about more than just investing money; it’s about taking an entirely different approach to doing business by leveraging strengths to drive innovation, overcoming barriers and exploring new opportunities. By creating more value-added plant processing opportunities in Canada, Protein Industries Canada has been created to not only generate new companies, products, processes, services, and jobs but to create new investment opportunities for both domestic and foreign investment and new models for global plant protein production. Feeding the World Based in Canada’s Prairie provinces and headquartered in Saskatchewan, the Protein Industries Supercluster aims to use plant genomics and novel processing technology to increase the value of Canadian crops in high-growth foreign markets, such as China and India, as well as to satisfy growing markets in North America and Europe for plant-based meat alternatives and new food products. Building on Canada's worldwide reputation as a leader in agricultural production, this supercluster will not only make Canada a leading source for plant proteins, it will ultimately help to feed the world. This is a crucial mission, considering that the global food demand is expected to rise by 70% over the next 30 years, an unprecedented rate in human history. Investing Where Canada Has A Natural Advantage This supercluster is creating co-investment projects that have the potential to transform the agriculture and food production sector not only in Canada, but in areas where Canada has natural advantages. Canada is already world-renowned for producing unique, high-protein crops, specifically canola and pulses, and for having a climate and infrastructure that can quickly adapt and scale new high protein crops. Harvesting Potential Through Partnerships Companies and investors who become members of Protein Industries Canada have the opportunity to collaborate with other businesses, as well as post-secondary and research institutions, to create projects with potential for transforming the food processing sector. Member companies gain pathways to customers, markets and partnerships that they couldn’t access on their own, allowing them to leverage their expertise and innovations with that of large and multinational enterprises, public sector organizations, and academia. An Early Leader Among Canada’s Superclusters In June 2019, the Protein Supercluster became the second of the country’s superclusters (following the Vancouver-based Digital Technology Supercluster) to announce an active project. Through the supercluster, Botaneco, a Calgary-based oilseed ingredient manufacturer, began partnering with Corteva Canada and Rowland Farms to advance technologies to improve oil and protein ingredient values in canola and hemp. The partnership will ultimately produce new, higher-value oil and protein products to fulfill an already growing market demand that promises to increase exponentially in the coming decade. Canada’s multi-agency-and-departmental federal organization—Innovation, Science, and Economic Development Canada—invested roughly $4 million in this first project, matched by the supercluster with an additional $4 million in contributions from industry and other partners. 2020 Vision: Growth in Disruptive Plant Protein Technology The Prairie supercluster received nearly $153 million from the federal government at its inception, meant to be matched dollar for dollar by the private sector. In 2020, that match may well be met by savvy investors looking for breakthrough, disruptive technologies ready to ripen profitably. Already this year, Protein Industries Canada has announced its second co-investment into a consortium-led project. The $19.1 million project will work to commercialize high-quality plant-based proteins, focusing on proprietary pea protein and canola protein isolates and introducing the world’s first highly soluble, highly functional canola protein isolate. Canada’s Merit Functional Foods, in consortium with seed processor Pitura Seeds and health brand The Winning Combination, has raised new capital to rapidly expand its ability to meet market demand for plant-based proteins and by-products, including peas and canola. Merit utilizes Burcon NutraScience’s patented and “disruptive” protein extraction technology, which has been in development for more than 19 years. In just the past few weeks, the price target on Burcon NutraScience’s stock has risen. Better Taste for Bigger Profits On January 10, 2020, the Protein Industries Supercluster combined $9.5 million (Canadian) in government funding with nearly $10 million in private investments to incentivize plant protein producers to innovate. The mandate? Remove the grit and improve the taste of plant-based proteins. Anyone with a taste for profitable investment can just smell this sure-fire recipe for success moving to the proverbial front-burner. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
As the global population grows, so does its demand for food, specifically protein and, given current environmental and societal trends, most specifically plant protein.
Montreal, Quebec Katy Brennan, Special to the The Hill In late 2018, history was made at Montreal’s G7 Multistakeholder Conference on Artificial Intelligence when the Government of Canada announced a $230-million contribution to SCALE.AI, the Artificial Intelligence (AI)-powered Supply Chains Supercluster, part of its $950 million, five-year Innovation Superclusters Initiative. One of five superclusters funded by the federal government, SCALE.AI received an additional $30 million from the Government of Quebec to pursue its goal: initiating collaborative transformation projects that will accelerate development and early industry integration of supply chains powered by AI. At the dawn of this new decade, SCALE.AI (Supply Chains And Logistics Excellence AI), an industry-led consortium headquartered in Montreal and centered in Quebec and Ontario, is actively fulfilling its mission to build the next-generation supply chain and incubate the companies and projects that will lead the way into the brave new world of AI-powered industry. Supply Chains Fuel Growth . . . And Create Opportunity As the backbone of any economy, supply chains propel all industries. Canadian supply chains provide almost one million jobs and contribute nearly 10% to the country’s GDP. As global trade undergoes transformation, supply chains also need to adapt to keep up with changing requirements. AI is a key tool that can support this transformation of supply chains, not only in Canada but throughout the world. The reason the Canadian government has funded this supercluster is the same reason investors from all over the world should be interested in the companies that are members of SCALE.AI: Better functioning supply chains can lead to greater economic development and job creation. For Investors, Now is the Time Over 100 world-class industrial partners, research institutions and other AI ecosystem leaders have joined forces to create this innovation consortium. Altogether, these partners have committed to more than doubling the Government of Canada’s funding. In 2020, they’ve already made substantial headway by funding 10 new projects that will, in turn, create exciting opportunities for investors from all over the world. 2020 Vision: 10 New Projects with Investments of $75 Million In the first weeks of this new decade, SCALE.AI announced $27 million in investments to support 10 projects ($22.6 million from the Government of Canada and $4.2 million from the Government of Quebec). Including these companies’ own contributions, this amounts to $75 million committed to modernizing processes for productivity enhancement through creativity and Canadian-developed solutions. In sectors ranging from shipping to retail, and including aeronautics, healthcare and supply chain management tools applicable to every industry, these projects show the diversity of practical and immediate applications of artificial intelligence being deployed in Canada, by and with local experts. With artificial intelligence still in its early stages of development, the projects supported by SCALE.AI show the added value of collaborative partnerships in developing practical and relevant solutions. Altogether, nine organizations and 40-plus key partners are taking part in the rollout of these 10 projects, including the participating companies, consultancies, research centers and business partners (both customers and suppliers). With a Vision of an AI-Powered Future, All Eyes are on Quebec With this initiative, SCALE.AI is inspiring companies of all sizes to take the leap toward artificial intelligence and is helping establish Canada in general, and specifically the province of Quebec, as a global leader in this emerging technology. Thanks to its pool of talented and highly qualified students and researchers in AI technologies, its innovative companies and start-ups, and (in no small part) the growth of SCALE.AI, Quebec occupies an important place in the global ecosystem of artificial intelligence. For investors looking to get onboard the AI-powered train, Montreal might be a smart first stop. An International Invitation While its mission is to build on Canada’s leadership role in AI and make supply chains state-of-the-art in its home country, SCALE.AI’s membership is open to all companies and entities across the globe. Member organizations can build innovative AI projects, collaborate with the world’s best researchers, and get reimbursement for project costs incurred in Canada. For investors, membership offers the distinct advantage of a dedicated investment team empowered to find just the right collaboration partners to suit specific goals. Within SCALE.AI, intelligence takes on new meaning for smart investments. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
Hamilton, Ontario Katy Brennan, Special to the The Hill Home to one of Canada’s five new federally funded industrial ecosystems—the Next Generation Manufacturing (NGen) Supercluster—Hamilton, Ontario is a booming epicenter of innovation for large and small companies, not only in advanced manufacturing, but in technology, medicine, life sciences, and beyond. Its growth and vitality are setting new global standards. Why? Hamilton is also blessed with the country’s most research-intensive university, McMaster University, and McMaster Innovation Park, an award-winning research and innovation park that’s supporting startups and established businesses across sectors, offering collaborative space for each sector to co-locate, connect and commercialize. Located less than two miles from McMaster University’s main campus, this sprawling collection of LEED silver and platinum-grade buildings sets the scent for transforming ideas from vision to commercial reality. At McMaster Innovation Park, entrepreneurs, firms, researchers, industry partners, business mentors and support facilities connect and grow. Canada Leads in Research, Fueling Innovation Canada is a world leader in post-secondary research, outpacing all G7 nations on its investments in higher education. This is now translating directly into leadership in innovation and business growth. The landscape for innovation and entrepreneurship in Canada has changed drastically over the last few years, with both the public and private sectors placing more of an emphasis and focus on getting ahead in the world of innovation. As McMaster Innovation Park’s Chief Executive Officer, Ty J. Shattuck says, “It’s well-known that Canada punches above its weight in terms of research, especially in Hamilton. Both the quantity and quality of research coming out of this city is truly remarkable.” “In comparison to innovation ecosystems like those in the US and other more mature economies, Canada is on the rise. The public sector and private sectors are finally working together to fuel innovation and leverage their respective expertise to help bring Canada to center stage.” Canadian Universities Raising the Bar “Education has certainly changed a lot over the last few years!” says Shattuck. “Technology is constantly evolving, and consequently, institutions need to do their best to prepare students for a work landscape that will also continue to evolve with technology.” “Many Canadian universities and colleges have learned the importance of real-world learning. Both McMaster University and Mohawk College have massive co-op programs, ensuring that their students are learning how to apply their learning to the jobs that they will one day be walking into.” Both institutions currently do a lot of work with industry. “This is a huge benefit to the students because they are able to learn on the most state-of-the-art tools and technology, often provided through industry partnership, and it allows industry to have both insight and input into how the students are learning,” he says. “Although the tech that these students will be using in 5 years from now is probably wildly different than what they are using now, providing them with a solid understanding of how to use the fundamentals and habits they’ve learned throughout their education is what will help them stay ahead of the curve.” Bringing Expertise to Market The park offers a number of services and resources to help entrepreneurs and researchers test their idea’s commercial potential and bring their product or service to market. “Currently,” says Shattuck, “we are home to two incubator/accelerator programs: Innovation Factory and The Forge. Both offer a slew of programming, workshops, mentoring, and support services to help guide the entrepreneurial journey and learn more about all of the components that go into building a business. “The expertise that Innovation Factory and The Forge offer is invaluable to new business, and the best part: it’s all free.” Designed for Flexibility and Growth McMaster has designated space for incubation, offering month-to-month leases to allow for flexibility. Tenants in these spaces are offered free use of conference facilities to allow them to take meetings and host events at a much more affordable cost. Further development is being designed with a diverse mix of businesses in mind. “Currently, about 60% of our population is researchers, which is by no means a bad thing,” Shattuck says. “But as we grow we will be able to bring more businesses to the park to cater to every aspect of a business, including legal firms, marketing firms, venture capitalists, banks, and more.” Building Bridges, Fostering Collaboration, and Fueling Growth For a variety of new and increasingly valuable Canadian companies, this bridge to the academic community is helping to pave a smoother and clearer path to global leadership. “We provide the resources, space, and network necessary to turn research into commercial reality. We also help industry solve problems and challenges by reaching into the talent and knowledge offered by the university and other institutions,” Shattuck explains. “Similar to the Canadian innovation ecosystem, MIP is also in a phase of development. We are in the process of developing the park to be able to offer a more all-encompassing innovation hub in Hamilton,” Shattuck says. “The reality of business is that it takes much more than just research to make innovation come to life. It’s the combination of all of the different ingredients, including research, marketing, legal, accounting, capital, etc. As we develop the park, we’re hoping to be able to offer more of that on both the local and global scale.” Starting Local, Going Global “On a local level, we’re providing a collaborative space at the park where businesses of any size or stage can find everything they need to thrive through services, resources, and partners to help them get to the next level in their journey,” Shattuck explains. “But it’s unlikely that every business is going to find everything they need in one city, which is why we are also developing our global network.” “Through collaboration and partnerships all over the world, businesses, entrepreneurs, researchers can use our network to help them find what they need for their journey no matter where it is in the world.” A Win-Win for Global Partners… and for the World “Our researchers aren’t trying to cure cancer for Hamilton,” Shattuck says, “they’re trying to cure cancer for the world. This is a great example because Life Sciences is one of our main industries of focus, but this theme can be applied to any idea or business.” “We can guarantee that the challenges faced here in our local community are certainly similar if not exactly the same in other parts of the world. It’s through collaboration, partnership, and teamwork that problems and challenges are solved most effectively and can positively impact the greatest number of people.” For investors from every part of the world, these kinds of collaborations and connections are the key to success. As Shattuck explains, “Our global partners not only have a direct line into Hamilton’s most cutting-edge research, but all of our local and global partners have the opportunity to make connections and work together to conquer innovation every single day.” Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
“The expertise that Innovation Factory and The Forge offer is invaluable to new business, and the best part: it’s all free.”
Ty J. Shattuck, CEO, McMaster Innovation Park
“Canada punches above its weight in terms of research.”
St. John’s, Newfoundland Katy Brennan, Special to the The Hill With the longest coastline and the fourth largest ocean territory in the world, Canada is a natural leader in the world’s growing ocean economy. The OECD anticipates that by 2030, the world's ocean economy will double to $3 trillion USD, outpacing the general global economy by a factor of nearly 20%. It’s no wonder the ocean economy is represented within the Canadian Government’s Innovation Supercluster Initiative. Focused on creating strongholds of research, innovation, economic growth and job creation across Canada, this public-private initiative offers all participating members unique access to lucrative partnerships and opportunities to innovate through collaboration across sectors and among researchers, scientists, investors, entrepreneurs, start-ups, and industry leaders large and small. Launched in 2018, the Ocean Supercluster aims to strengthen and grow Canada’s ocean businesses by focusing on technological optimization via interventions like digital sensors, marine biotech and marine engineering. Increasingly, the private sector (both domestic and international investors; companies of every size as well as individuals) is co-investing with the federal government in the Ocean Supercluster, bolstering Canada’s global leadership role in the knowledge-based ocean economy. Driving Sustainable Ocean Growth Through Collaborative Innovation Canada’s Ocean Supercluster (OSC) is the first cross-sectorial initiative of its kind, including leaders in fisheries, aquaculture, offshore resources, shipping, defense, marine renewables and ocean tech. By facilitating the growth of these industries, the supercluster is leading the globe in sustainable ocean innovation. Members are now forming new relationships, generating new ideas, and creating new opportunities for growth and investment. The Ocean Supercluster is now actively harnessing emerging technologies to strengthen industries like marine renewable energy, fisheries, aquaculture, oil and gas, defense, shipbuilding, and transportation. Through this collaboration, members are generating new solutions to global challenges, including meeting the energy demands of the 21st century. While supporting ages-old industries like fishing and shipping, this collaborative clearly focuses on innovative technology, including the development of digital sensors and monitoring, autonomous marine vehicles, energy generation, automation, marine biotechnology and marine engineering technologies. The Time Is Now: Global Companies are Investing in Canada’s Ocean Economy Beyond Canadian shores, the Ocean Supercluster is helping to attract investments from global companies and investors. The consortium is actively promoting more sustainable, effective, and efficient technology at a time when traditional industries like fishing are experiencing immense change and growth opportunities. One Norwegian company is bringing new innovations to Canada’s lobster and crab fishery. Norway-based ResqUnit—now expanded to Dartmouth, Nova Scotia—brings a technology solution to the problem of lost fishing gear. Fishermen can protect their investments by retrieving what in the past would have been lost gear; marine life caught in this so-called “ghost gear” can escape; and the retrieval of lost traps helps the ocean environment. With the OECD estimating that global fisheries have the ability to generate an additional USD $80 billion annually if managed properly, there is a strong financial case for integrating technology in precisely the way Canada’s Ocean Supercluster is facilitating. Smart investors are those looking north, and to the sea. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
Vancouver, British Columbia Katy Brennan, Special to the The Hill The past three years have seen Canada emerge as a global superpower in innovation. It’s no accident. What began in 2017 as the Government of Canada’s Innovation and Skills Plan has given rise to five thriving superclusters— Industry-led and world-leading innovation hotbeds that offer investors from every corner of the globe a variety of potential partnerships with lower risk, higher earning potential and greater ease than perhaps any other place on earth. Of these five—the Digital Technology Supercluster in British Columbia, the Protein Industries Supercluster in the Prairies, the Next Generation Manufacturing Supercluster in Ontario, the AI-Powered Supply Chains Supercluster (SCALE.AI) in Quebec, and the Oceans Supercluster based along the Atlantic Coast—the first, here in Vancouver, is well into its second year of growth. In 2018, the Digital Technology Supercluster received $153 million of the overall $950 million allotted by the government for the initiative over 5 years and was the first to launch projects. In 2019, it launched into action with 7 projects now well underway. Today, the Supercluster manages the investments provided by the Government of Canada’s Innovation Superclusters Initiative and the public and private organizations that constitute its membership. Over the next ten years, the Supercluster itself plans to invest more than $1.4 billion to fund over 100 projects involving more than 1,000 organizations across the country. The Supercluster Model Is Already Paying Off For some perspective on superclusters, think Silicon Valley on steroids. Clusters are dense areas of business activity containing a critical mass of large and small companies, post-secondary and other research institutions. Superclusters build on the advantages of a cluster. Comparatively, these innovation hotbeds have stronger connections, a long-term competitive advantage, global brand recognition, and an outsized positive impact on growth for everyone involved, including global investors. Industry leaders, whether start-ups, small and medium-sized enterprises or large corporations, are keeping up with unprecedented rates of change by looking to multi-sector collaboration, open innovation, and partnerships with researchers, post-secondary institutions and other innovators to deliver solutions. This is what the superclusters are already delivering, also at an impressive rate of speed. Pushing Boundaries and Transforming Society Through Partnership and in Deep, Diverse Talent Pools The Digital Technology Supercluster is currently using bigger, better datasets and cutting-edge applications of augmented reality, cloud computing and machine learning to improve service delivery in the natural resources, precision health and manufacturing sectors, using digital technology to help solve industry’s and society’s most challenging problems. Its collaborative research and development projects are creating integrated platforms, offering innovative digital solutions to customers, and driving service improvements—such as enhancing sustainability, efficiency, and providing improved access to remote care for Indigenous communities—that are not only enhancing the quality of life in Canada but creating models for the rest of the world. All of the Supercluster’s growth is fed by diverse and skilled talent pools in Vancouver itself, throughout Canada, and from abroad. It’s also specifically endeavoring to attract and retain women and underrepresented groups and providing digital skills training for those working in traditional industry sectors. A Synergetic Mix By bringing together small and large companies, research organizations and government agencies, the Supercluster aims to deliver an impact with the speed and magnitude that no single organization could achieve on its own. It’s helping start-ups and small and medium-sized companies grow by connecting them with resources, technology adopters and investors so they can scale quickly, access capital, and expand in global markets efficiently. At the same time, larger organizations have access to practical solutions for larger challenges through smaller, innovative partners. An Impressive Start In March of last year, the Supercluster launched seven projects—including the Dermatology Point-of-Care Intelligent Network, Tailored Health Pharmacogenomics, Forest Machinery Connectivity, Predictive Analytics in Manufacturing, Learning Factory Digital Twin, Earth Data Store, and Secure Health Genomics Platform—each bringing together a large range of partners across industries, from startups to tech leaders. In all, these projects attracted over $40 million of investment over three years, comprising $15 million of co-investment from the Supercluster and over $25 million leveraged from industry, research and academic partners. New Opportunities This year, as it grows at what is expected to be an exponential rate, the Supercluster is reviewing proposals from 14 finalists in its Cycle 3 Technology Leadership Program, involving a total of 75 organizations, including 30 small and medium-sized businesses. A final selection of projects will be announced in the spring. Organizations and investors can explore these and other opportunities by joining the Supercluster or making inquiries on their website. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
Vancouver, British Columbia Katy Brennan, Special to the The Hill The past three years have seen Canada emerge as a global superpower in innovation. It’s no accident. What began in 2017 as the Government of Canada’s Innovation and Skills Plan has given rise to five thriving superclusters—Industry-led and world-leading innovation hotbeds that offer investors from every corner of the globe a variety of potential partnerships with lower risk, higher earning potential and greater ease than perhaps any other place on earth. Of these five—the Digital Technology Supercluster in British Columbia, the Protein Industries Supercluster in the Prairies, the Next Generation Manufacturing Supercluster in Ontario, the AI-Powered Supply Chains Supercluster (SCALE.AI) in Quebec, and the Oceans Supercluster based along the Atlantic Coast—the first, here in Vancouver, is well into its second year of growth. In 2018, the Digital Technology Supercluster received $153 million of the overall $950 million allotted by the government for the initiative over 5 years and was the first to launch projects. In 2019, it launched into action with 7 projects now well underway. Today, the Supercluster manages the investments provided by the Government of Canada’s Innovation Superclusters Initiative and the public and private organizations that constitute its membership. Over the next ten years, the Supercluster itself plans to invest more than $1.4 billion to fund over 100 projects involving more than 1,000 organizations across the country. The Supercluster Model Is Already Paying Off For some perspective on superclusters, think Silicon Valley on steroids. Clusters are dense areas of business activity containing a critical mass of large and small companies, post-secondary and other research institutions. Superclusters build on the advantages of a cluster. Comparatively, these innovation hotbeds have stronger connections, a long-term competitive advantage, global brand recognition, and an outsized positive impact on growth for everyone involved, including global investors. Industry leaders, whether start-ups, small and medium-sized enterprises or large corporations, are keeping up with unprecedented rates of change by looking to multi-sector collaboration, open innovation, and partnerships with researchers, post-secondary institutions and other innovators to deliver solutions. This is what the superclusters are already delivering, also at an impressive rate of speed. Pushing Boundaries and Transforming Society Through Partnership and in Deep, Diverse Talent Pools The Digital Technology Supercluster is currently using bigger, better datasets and cutting-edge applications of augmented reality, cloud computing and machine learning to improve service delivery in the natural resources, precision health and manufacturing sectors, using digital technology to help solve industry’s and society’s most challenging problems. Its collaborative research and development projects are creating integrated platforms, offering innovative digital solutions to customers, and driving service improvements—such as enhancing sustainability, efficiency, and providing improved access to remote care for Indigenous communities—that are not only enhancing the quality of life in Canada but creating models for the rest of the world. All of the Supercluster’s growth is fed by diverse and skilled talent pools in Vancouver itself, throughout Canada, and from abroad. It’s also specifically endeavoring to attract and retain women and underrepresented groups and providing digital skills training for those working in traditional industry sectors. A Synergetic Mix By bringing together small and large companies, research organizations and government agencies, the Supercluster aims to deliver an impact with the speed and magnitude that no single organization could achieve on its own. It’s helping start-ups and small and medium-sized companies grow by connecting them with resources, technology adopters and investors so they can scale quickly, access capital, and expand in global markets efficiently. At the same time, larger organizations have access to practical solutions for larger challenges through smaller, innovative partners. An Impressive Start In March of last year, the Supercluster launched seven projects—including the Dermatology Point-of-Care Intelligent Network, Tailored Health Pharmacogenomics, Forest Machinery Connectivity, Predictive Analytics in Manufacturing, Learning Factory Digital Twin, Earth Data Store, and Secure Health Genomics Platform—each bringing together a large range of partners across industries, from startups to tech leaders. In all, these projects attracted over $40 million of investment over three years, comprising $15 million of co-investment from the Supercluster and over $25 million leveraged from industry, research and academic partners. New Opportunities This year, as it grows at what is expected to be an exponential rate, the Supercluster is reviewing proposals from 14 finalists in its Cycle 3 Technology Leadership Program, involving a total of 75 organizations, including 30 small and medium-sized businesses. A final selection of projects will be announced in the spring. Organizations and investors can explore these and other opportunities by joining the Supercluster or making inquiries on their website. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
For some perspective on superclusters, think Silicon Valley… on government-funded steroids.
Ottawa, Ontario Katy Brennan, Special to the The Hill There’s a good reason that most Canadians proudly celebrate their country’s quality of life: they are happy. They are also relatively healthier and feel safer, more engaged in their communities, and enjoy a better sense of life-work balance than the vast majority of people in the world. The rest of us might say, well, good for them! But what’s good for them is also good for investors. What makes for a better quality of life in Canada also helps to create an ideal climate for global investment. Canada First Among the G7 on the OECD’s Better Life Index Beyond GDP, the nations of the world are ranked according to what actually matters to people most: happiness and a sense of well-being. The Organisation for Economic Co-operation and Development (OECD) recognizes the importance of quality of life and dedicates a great deal of research (and an interactive website) to how we experience this, by nation and by region. The OECD’s Better Life Index ranks 40 nations on 11 different factors, both material and perceptual, that it identifies as essential: housing, income, jobs, community, education, environment, civic engagement, health, life satisfaction, safety and work-life balance. Canada ranks first in the G7 on this Better Life Index. What Makes Life in Canada Better? There are multiple factors that contribute to making Canada a top place to live, work and play. In several other studies, including a U.S. News & World Report 2020 Best Countries study, Canada again ranked number one in the world for quality of life and number two overall, just behind Switzerland. According to these studies, Canada’s well-developed public healthcare system is a big contributor to its quality of life. They also point to Canada’s safety, political and economic stability, good job market and strong public education system. Two other factors are cornerstones of the Canadian culture that are fully integrated into its policies: a focus on protecting the environment, along with diversity and multiculturalism that welcomes immigrants from every part of the world. Why Do Global Companies and Investors Care? All of these threads run through the culture of Canadian business. In the U.S. News & World Report study, Canada ranks highly for being “open for business” and fostering entrepreneurship, largely based on its well-developed infrastructure and legal framework, transparent business practices, highly educated population, skilled labor force, and strong connections to the rest of the world. For both domestic and global investors, Canada’s talent pool is key to building successful businesses and making money. Not only is its population among the most educated in the world, the country attracts international talent and makes it easy for them to live and work in Canada. The nation’s high quality of life keeps this world-class talent happy, productive, and committed to remaining in the country long-term. For businesses of every kind, this is a win. The Peace Dividend: For Business, Higher Quality of Life Means Lower Risk A country’s higher quality of life index often directly corresponds with lower corporate risk. This is most certainly the case in Canada. A contented talent pool isn’t the only reason Canada’s high quality of life attracts global companies. For global businesses, stability can be just as important. The safety and security felt by workers at international companies often relates directly to the political, economic and social stability of the countries where they operate. Here, too, Canada offers a great advantage. In terms of safety, Canada’s tops the OECD index, along with Norway and Iceland. With a stable government and a global reputation as a peacekeeper, Canada offers an oasis of tranquility amidst a chaotic and often volatile global environment. The self-evident truth espoused for thousands of years by poets, prophets, and philosophers practically manifests in Canada every day: from peace, prosperity. Not just a happy coincidence, but a dividend of happiness itself. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
Ottawa, Ontario Katy Brennan, Special to the The Hill Even as automation and AI continue to evolve and effect the nature of the work force, particularly in manufacturing, the key to building any kind of business remains human intelligence, energy, and spirit. The human element factors not only in deciding to invest and innovate, but where in the world to do so. More and more, smart investors and global companies are choosing to invest and expand their businesses in Canada, where the talent pool is as deep as it is wide, diverse, and top quality. Why? Canada not only offers a highly educated domestic workforce; it’s also attracting a diverse array of skilled international students as well as experienced talent from all over the globe. Best of all, the country’s top-rated quality of life keeps this world-class talent happy, productive, and strongly rooted in Canada. Canada’s Education System is A+ According to a U.S. News & World Report 2020 Best Countries study, Canada again ranked number one in the world for quality of life and number two overall, just behind Switzerland. The country’s strong public education system contributes greatly to these rankings, with a score of 9.8 out of 10. According to the Times Higher Education World University Rankings 2020 report, 30 Canadian institutions are counted among the best in the world. Three universities rank in the top 50 and another four among the top 200 (of nearly 1,400 across 92 countries counted in the survey). Canada offers a truly world-class education. As a result, its student body is not only bright and ambitious, but socio-economically and culturally diverse. Canada’s top two universities in the report— the University of Toronto and the University of British Columbia – score particularly highly for research impact, producing high-quality academic work respected in every corner of the globe. Rounding out the top five Canadian universities in this survey—all in the top 100 globally—are McGill University, McMaster University and the University of Montreal. What’s more, over 90% of students are satisfied or very satisfied with their studies in Canada and 95% would recommend Canada as a study destination, according to the Canadian Bureau for International Education’s International Student Survey. More International Students Are Choosing Canada Significantly, an even higher percentage of international students, 96%, would recommend Canada as a study destination. Today, more international students than ever are choosing to first study, then stay to work in Canada. At the end of 2018, there were 572,415 international students in Canada, a 154% increase since 2010 and a 16% increase over 2017. These students can now fast-track to permanent residency and put their skills to work in Canada. In fact, 60% of international students plan to apply for permanent residence in Canada. Among the biggest factors drawing the best and brightest students in the world to Canada are the quality of the universities, the country’s safety and its well-founded reputation as a tolerant and non-discriminatory society. Global Skills Strategy Is Making the Talent Pool Even Deeper … and Easier to Access It’s not only students who are attracted to Canada, but a growing number of experienced, highly skilled workers. It’s no accident. They are not only drawn to the country by the promise of its top-rated quality of life, but through the federal government’s Global Skills Strategy (GSS). Since being introduced in June 2017, this program has enabled over 62,000 people to come to Canada, nearly 37,000 of whom are highly skilled workers in fields like computer programming, information system analysis and software engineering. Part of the GSS, the Global Talent Stream allows Canadian employers to expedite the hiring of international talent to fill specialized occupations when Canadians aren’t available for specific roles. Most importantly for companies looking to innovate and grow quickly, Immigration, Refugees and Citizenship Canada aims to process GSS work permit applications in only two weeks, making it the fastest pathway for workers and their families seeking a new life in Canada. No wonder Canada is fast becoming a mecca for savvy business investment. Smart money follows a smart work force … and vice versa. Top talent and successful investors are diving in where the water (and pretty much everything else that makes both life and business good) is fine. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
Ottawa, Ontario Katy Brennan, Special to the The Hill Take a large land mass with one of the largest and most diverse supplies of natural resources in the world and combine it with a relatively small population known for innovation and a concern for combating climate change and what do you get? In a word: opportunity. What’s becoming clear to the world’s most forward-thinking investors is not only that innovations in creating more sustainable energy are crucial to our future, but that the future of energy is in Canada. This is true in terms of further developing renewable energy sources like hydro-electric, solar, and wind and also within the ever-more-vital oil and gas sectors. Canada: Global Powerhouse Among the world’s top producers of energy worldwide, Canada is blessed not only with tremendous natural resources, but the technological know-how to most sustainably and responsibly harness them to meet exponentially growing global energy demands. Canada is home to the third-largest global supply of proven reserves of both oil and uranium as well as substantial natural gas, wind, and solar power resources. Canadian rivers discharge close to 7% of the world’s renewable water – a huge source of hydroelectric power. But what really makes Canada so powerful is the way in which these resources are being harvested and used. Canadians are leading the way into a more sustainable and affordable energy future through wasting less energy, generating more clean power by further cultivating renewable sources, and innovating for cleaner oil and gas. Canada is Leading the World Through Innovation in Oil and Gas Canada’s oil and gas sector is not only huge (representing 55% of all energy production in Canada, accounting for almost 11% of GDP and generating 528,000 jobs nationwide) it’s also leading other global producers in transforming into a lower-cost, lower-emission industry. As the world’s fourth-largest producer of both oil and natural gas, Canada is in a particularly strong position to influence the way in which these resources are managed and to make the massive investments necessary for such innovation. These investments are paying off. In the past two decades, GHG emissions per barrel of oil produced in the oil sands have fallen 29%. The Clean Resource Innovation Network is Realizing Its Vision In the spring of 2019, a forward-thinking group of oil and gas industry professionals, innovators, financiers, policy makers, incubators and accelerators, academics and students called The Clean Resource Innovation Network, hosted a forum in Ottawa to both showcase how clean Canada is becoming in the oil and gas space and to collaborate on further innovations. The group’s goal, to create clean hydrocarbon energy, from source to end use, is clearly already being realized. At the forum, inventors, entrepreneurs, executives and investors representing innovative energy startups profiled their cutting-edge technologies, focusing on a wide range of emission reduction opportunities. Among the innovators profiled, companies like GHGSat, Acceleware, Bluesource, Combustion & Energy, Solideum, and Vizworx. Liquified Natural Gas Offers Affordable Energy with Lower Emissions In British Columbia, another forward-thinking energy industry group, the LNG Alliance, is capitalizing on the province’s significant natural gas reserves and proximity to Asian markets to supply an affordable, cleaner-burning source of energy to meet Asia’s growing energy demands. According to the group, liquified natural gas from just one of their projects in British Columbia can help displace 20 to 40 coal-fired power plants. Because most of what they produce will be exported, their projects can potentially reduce greenhouse gases worldwide, displacing higher-emission power sources throughout Asia. Renewable Sources Are Becoming a Greater Part of the Energy Mix Canada is blessed with both abundant sunlight (and the cooler climate that makes solar power more efficient) and open spaces where wind turbines can function most effectively. It’s no surprise that wind and solar photovoltaic energy are the fastest-growing sources of electricity generation in Canada. Recent innovations in co-generation technologies have already resulted in an increase in energy-efficient practices and an overall reduction in greenhouse gas emissions. Ongoing developments in grid-scale electricity storage, carbon capture and storage, and electric and alternative fuel vehicles have the potential to further transform the energy system and increase the percentage of renewable sources generated throughout the country, for both domestic use and export, in the county’s energy mix. Canada Tops the Global Cleantech Innovation Index Canada currently ranks first among G20 countries on the Global Cleantech Innovation Index and is just one of just four countries responsible for 75% of the world’s successful cleantech companies. A dozen Canadian companies made the 2019 Global Cleantech 100 list. Of those, 10 received support from Sustainable Development Technology Canada, which reflects 10% of the world’s leading cleantech companies. Overall, Sustainable Development Technology Canada has invested over $1 billion in more than 300 companies, creating 12,000 well-paying jobs and reducing greenhouse gas (GHG) emissions by an estimated 13.8 megatons annually. On the recently released 2020 Global Cleantech 100 list, Canada again had 12 companies recognized. Eight of these dozen companies are supported by MaRS, a Toronto-based “Discovery District”—and North America’s largest urban innovation hub—that supports Canada’s most promising startups. This is the third year in a row that Canada has had such an impressive showing. For a sense of the rapid pace at which the sector is growing in Canada, consider that only one Canadian company made the inaugural list in 2009. It’s a great illustration of the power of public-private partnerships. A Win-Win, Not Least for Investors This kind of support and co-investment by the government as well as a growing number of industry-led alliances and collaboration between the tech and energy sectors is creating an aptly energized investment environment. The kind of innovation and growth happening in Canada right now is not only good for Canadians; It’s good for the planet and every living being on it. Those who can take advantage of the investment opportunities will potentially win even more, doing both well and good. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
Ottawa, Ontario Katy Brennan, Special to the The Hill Investors exploring the brave new world of blockchain need look no further than the country that has most helped foster this global phenomenon transforming many of today’s industries. Low energy costs and high internet speeds combined with favorable regulations and R&D incentives such as the Scientific Research and Experimental Development program have helped generate Canada’s explosive growth in blockchain. By the middle of last year, the Canadian blockchain ecosystem had grown to 170 companies. It’s getting much bigger. An August 2019 report by International Data Corporation (IDC) indicates that’s Canada’s blockchain growth rate is projected to be the highest among all global regions analyzed. This report forecasts a 73% compound annual growth rate for blockchain in Canada through 2023. According to the Information and Communications Technology Council, the Canadian blockchain market will be worth roughly $2.5 billion by 2024, having created 107,700 jobs. Canada Became the Blockchain Frontier Through Top Talent and Support Canada’s exceptional educational system and resulting STEM talent pool accounts for a great deal of homegrown blockchain talent. Many of the industry’s brightest pioneering minds and companies have roots in Canada. For non-domestic talent, the federal government’s Global Talent Stream program creates a fast-track to get blockchain talent into Canada, where most innovators stay and thrive. This immigration program, part of Canada’s Global Skills Strategy, allows Canadian employers to quickly hire international talent to fill specialized occupations when Canadians aren’t available for specific roles. Fortuitously for blockchain companies looking to innovate and grow, Immigration, Refugees and Citizenship Canada (IRCC) aims to process Global Talent Stream work permit applications in only two weeks. Global businesses and talent are drawn to the growing clusters of thriving blockchain companies or are attracted to startups, often nurtured by Canada’s blockchain incubators, accelerators and research clusters such as Creative Destruction Lab in Toronto, Blockchain@UBC in Vancouver, and District 3 Innovation Centre in Montreal. Where is Canada’s blockchain activity? Canada’s blockchain enterprises focus in four industrial areas: cryptocurrency (31%), finance and fintech (17%), blockchain consulting (12%), and ICT and software (9%). The remaining 31% work in eight other specialized areas. Among the significant drivers of Canada’s blockchain ecosystem are the Chamber of Digital Commerce (formerly Blockchain Association of Canada), the Blockchain Research Institute, Blockchain Technology Coalition of Canada, Blockchain Canada, and the Alberta Blockchain Consortium. Who is Investing? Canada’s robust blockchain ecosystem is creating a strong investment climate. Over half of all companies responding to a survey conducted by Deloitte say they are currently investing in blockchain. Global investment in Canada’s blockchain ecosystem is growing right along with it. Recent examples include U.S.-based Chronicled, which leverages blockchain and IoT to power supply chain solutions, opening a development office in Vancouver; China-based Strategic Development of Blockchain Technology (SDBT), a cryptocurrency miner, opening a new mining facility in Quebec; and India-based Tech Mahindra investing in a new centre of excellence in Toronto for technologies such as AI and blockchain. Investors looking towards Canada for a piece of blockchain are not only looking in the right place; they’re in good company. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
Toronto, Ontario Katy Brennan, Special to the The Hill Nowhere has technology so profoundly transformed an entire sector than within the financial services industry and nowhere is fintech (the finance technology innovation industry) more dynamic than in Canada. Canada is most notably ranked as having the most stable banking system in the world. The country’s hegemony in banking and finance is just one of the factors driving Canada’s leadership in leveraging a variety of breakthrough technologies to innovate financial services. Canada leads the world in tech expertise and innovation not only in financial services but across a variety of industries, including insurance, e-commerce, wealth management, cybersecurity, cryptocurrencies, quantum computing, and beyond. Pivotally, the country is at the forefront of developing artificial intelligence—the technology behind many fintech innovations, both in use and in development. No wonder Canada is a leader in AI; it’s a hotbed of human intelligence too. Canada’s workforce ranks as the most educated among OECD countries. The boom in fintech is a natural product of synergies among other related ecosystems. Information and Communications Technology is Canada’s fastest-growing sector, and its blockchain industry is teeming with new research and startups. Of the nearly 1,000 fintech companies running in Canada now, 81% have Canadian headquarters and 85% are startups. Canada’s Fintech Ecosystem Thrives on Collaboration In this ideal environment for innovation and growth, the fintech boom is being continually fed by collaborative efforts among government, academia and industry. Thanks to a culture of collaboration and a cohort of incubators and accelerators such as MaRS, Creative Destruction Lab, DMZ and Communitech, start-ups thrive, and cutting-edge technologies are moving quickly from ideation to design and implementation in the marketplace. A Welcoming Environment for Innovation and Investment Recent amendments to Canada’s Bank Act are resulting in even greater collaboration between banks and fintech companies. A progressive regulatory system is attracting the attention of the world’s leading multinationals, enticing them to host conferences, develop and test their new technologies, and establish North American or Canadian headquarters, adding momentum to the boom. Fintech is Changing the Way the World Does Business Fintech is continually introducing innovative technologies to financial service providers and redefining delivery to customers, bringing greater efficiency to the financial services market. Advancements in fintech often offer unique approaches that address new, unmet, or under-served needs. Payments—the oldest fintech sub-category globally—takes the top spot in Canada’s distribution of fintech companies. Over 23% of Canadian fintech companies operate in the paytech space. Companies involved in the FI-tech, lendtech, wealthtech, regtech and insurtech subsectors make up 46% of Canada’s fintech companies. What are these companies doing? Creating greater efficiencies and convenience within the financial industry and in the lives of consumers worldwide. This past year, for example, TD Bank launched Clari, a chatbot on the bank’s mobile app, in partnership with Kasisto’s Conversational AI platform; Scotiabank launched eHOME, a fully online tool with real-time updates that modernizes the mortgage process for Canadians; CIBC introduced Global Alliance Fintech Link to facilitate collaboration between banks and fintechs, and RBC launched a solution that allows business clients to precisely track wire payments at no additional cost. Where is Canada’s Fintech Industry? What started in the east is quickly expanding west, following the money, and continually generating greater revenue from coast to coast. The second largest financial center in North America as well as one of the continent’s most innovative tech hubs, the Toronto region is the heart of Canada’s fintech industry. Toronto is home to the third largest stock exchange globally by total trade and is headquarters to Canada’s five largest banks. The region is consistently ranked among the top banking centers in the world by the World Economic Forum. Geographically, 64% of Canada’s fintech companies are in Ontario and 62% of all fintech funding is concentrated in the Greater Toronto Area. Nearby Waterloo extends the region’s dominance in fintech. The Toronto-Waterloo Corridor is the second-largest tech corridor in North America, with over a dozen incubators and 170 fintech companies. The sixth largest international financial center in North America and a renowned tech innovation hub, Montreal has emerged as a major hub in global fintech. The city’s collaborative startup ecosystem helps fuel innovation, making Montreal the world’s largest ecosystem for cryptocurrency and blockchain startups. Home to the world’s largest credit union, Quebec City is the cradle of North American French culture and Canada’s second-largest insurance industry hub. Its celebrated tradition of innovation, creativity, and entrepreneurship is helping fuel a burgeoning fintech cluster, with subsectors in insurtech, lendtech, cooperative financial services, investment and real estate funds. Westward expansion of the fintech boom has seen Calgary’s fintech industry more than double in recent years, along with dynamic growth in the city’s financial services, personal finance management, blockchain, and capital markets technologies. As a hub of collaboration in business intelligence, security, and e-commerce, Vancouver now ranks among the top 20 fintech clusters in the world. Fintech In Canada Is Attracting Global Investment With fintech paying off in more ways than one, global investors are doubling down in the industry. Global investors are both cashing in on and feeding Canada’s fintech boom. From 2014 to Q3 2019, Canada brought in 25 FDI projects and 141 Mergers & Acquisitions and Venture Capital & Private Equity deals in the fintech sector, with a total CAPEX of USD $1,027 million in FDI projects and USD $502 million in M&A and VC&PE deals. FDI stock in Canada in 2018 reached CAD $877 billion, of which the finance and insurance sector accounted for $135 billion. What’s drawing global investors to fintech in Canada is an ideal blend of proximity to markets and customers, a highly skilled workforce, lower costs, and lower risks. By literally changing the way we make (and pay, spend, and save) money, Canadian fintech is paying off in more ways than one. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
The Toronto-Waterloo Corridor is the second-largest tech corridor in North America, with over a dozen incubators and 170 fintech companies.
Fredericton, New Brunswick Katy Brennan, Special to the The Hill Amidst the global threats of cyberattacks on crucial infrastructure, political hacking, online advertising fraud, and countless yet-unrealized consequences to our ever-more digital world, cybersecurity is a hot sector for investment. The hottest spot right now—and well into the foreseeable future—is Canada. Canada is home to the world’s largest tech hubs, growing and attracting innovative talent from across the globe as well as investment from the world’s ten largest technology companies. Canada’s commitment to talent development and attraction, strong support for innovation and low business costs make it easier for tech companies to make money. Canada offers a more-than-welcoming business environment with a growing number of highly creative startups developing AI-powered cybersecurity tools. A natural outgrowth of the booming ICT (Information and Communications Technology) sector in Canada, the cybersecurity sector is benefitting not only from proactive government supports and strategic initiatives, but from a broader thriving new tech economy and culture, continually fed by highly specialized training programs throughout the country. With the most competitive operating costs in North America for software development, government support in the form of direct investment and advantageous tax credits, Canada is continually rated among the top ten countries for cybersecurity growth, and its place on those lists is climbing higher. A Focused National Cybersecurity Strategy The Canadian government has taken key steps to recognize the importance of cybersecurity, committing to invest $507 million over five years as part of a new national cybersecurity strategy. This initiative includes funding for the Canadian Centre for Cyber Security to support leadership and collaboration between different levels of government and international partners, the creation of the National Cybercrime Coordination Unit, and, most significantly for global investors, substantial funding to foster innovation and economic growth and the development of Canadian cyber talent. At this year’s World Economic Forum Annual Meeting in Davos, the Canadian Minister of Innovation, Science and Industry joined with Ajay Banga, president and CEO of Mastercard, to announce a $510-million investment by Mastercard to establish the new global Intelligence and Cyber Centre in Vancouver, British Columbia (of which $420 million is eligible under the government’s Strategic Innovation Fund). The Government of Canada is investing $49 million to support this project. As with most tech initiatives in Canada, this project will grow in collaboration with universities, the public sector, and partnerships with both domestic and international business. A Highly-Skilled Workforce That’s Growing Larger Everyday All of this growth truly begins with human intelligence and talent. Global investors seeking an innovative workforce specialized in cybersecurity need look no further than Canada, where immigration policies enable companies to easily import the world’s top cybersecurity talent and a homegrown talent pool is expanding nearly exponentially every academic term. Several Canadian universities have created specialized research chairs and training programs to meet the growing demand for digital security specialists. The rising level of enrolment in cybersecurity programs represents about 7% of all college IT enrolments in the province of Ontario. At the University of New Brunswick in the province’s capital city of Fredericton, the focus is even greater. The university is home to the Canadian Institute for Cybersecurity (CIC) a comprehensive multidisciplinary training, research and development, and entrepreneurial unit that draws on the expertise of researchers in the social sciences, business, computer science, engineering, law and science. The institution is the first of its kind to bring together researchers and practitioners from across the academic spectrum to share innovative ideas, create disruptive technology and carry out groundbreaking research. It's just one of the reasons why Fredericton, a small city of less than 60,000 people, is having an outsize impact in the cybersecurity space. New Brunswick Is Becoming a Global Cybersecurity Hub Cited by The Globe & Mail as one of the top five technology boomtowns, Fredericton, New Brunswick is making a name for itself on the global stage for its leadership in cybersecurity. Host of the annual International Cyber Summit, Fredericton is also the home of Canada’s first Critical Infrastructure Security Operations Centre, an integrated security operations hub designed to protect critical infrastructure, coordinate security intelligence gathering, produce threat intelligence and fuse these for consumption by industry and federal agencies. Not coincidentally, cybersecurity is the focus of Sentrent, one of the province’s most promising new start-ups. A product of the University of New Brunswick cybersecurity research, the company is producing online advertising fraud detection software that identifies human versus non-human interaction, a technology anticipated to have a dramatic impact on the multimillion-dollar online advertising industry. Within Fredericton’s Knowledge Park—Atlantic Canada’s largest technology park—Cyber Park is a dedicated facility for cybersecurity research and collaboration that’s attracting a lot of attention among the world’s leading tech companies. This year, the German-based giant Siemens is opening a global cyber security center there with a focus on cyber analysis and software development. Cybersecurity is Booming in Montreal and Beyond A similar mix of ideal conditions for cybersecurity innovation and growth is on offer throughout Canada. Thanks to Montreal’s innovative business environment, a huge pool of skilled workers and highly trained university graduates, this city is also becoming a global leader in cybersecurity and one of the best cities in the world to set up a business in this sector. OneSpan, a leading global IT and cybersecurity technology company based in Chicago, is currently developing a new operational hub in Montreal to help the company protect financial institutions from fraud. The company helps protect more than 10,000 customers, including over half of the top 100 global banks. This new office is its largest office and R&D center in the world. Among other global leaders choosing to expand or focus their cybersecurity growth in Montreal are ESET, Hitachi, and Intel Security. Global investors looking to move in to or expand their interests in cybersecurity in Canada will clearly be in good company. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
Global investors seeking an innovative workforce specialized in cybersecurity need look no further than Canada.
Vancouver, British Columbia Katy Brennan, Special to the The Hill Canada has been known as “Hollywood North” for so long now, it might be time to redefine the country for what it’s fast becoming: the digital entertainment capital of the world. For the past few decades, Vancouver and Toronto have enjoyed top billing in the film and television industries, continually ranking among the world’s top production locations. Ideal stand-ins for U.S. and European capitals, they also offer deep and wide talent pools, a variety of government supports, and low-risk investment opportunities. These entertainment capitals also happen to rank among the world’s hottest tech hubs, growing and attracting innovative talent from across the globe as well as investment from tech giants and venture capitalists alike. As entertainment goes high tech, Vancouver, Toronto, Montreal and other Canadian tech hubs are taking center stage in the development of video games, visual effects and animation, augmented and virtual reality, and out into the frontiers of our brave new digital world. Canada Moves into the Spotlight With the world’s consumers changing the way they consume entertainment of all kinds, the film and television industries are virtually converging with the tech industry, bringing Canadian tech and film hubs into sharp focus for investors. The same things that make Canada so attractive to tech investors are drawing investors in digital entertainment: the country’s commitment to talent development and attraction, strong support for innovation and low business costs, a more-than-welcoming business environment with generous R&D tax credits, stable incentives, and attractive immigration policies that facilitate and expedite staffing at the speed of business. In addition, Canada is cultivating world-renowned engineering and visual effects programs throughout its universities and in government-funded incubators and industrial parks. In Canada, two vibrant ecosystems—both teeming with talent and leading the world—are coming together to create something truly stellar. At the crossroads of the tech and entertainment industries lies a land of vast opportunity for investors. In Vancouver, a Creative Culture Meets the Digital Technology Supercluster Scenic, vibrant Vancouver is not only the location of the world’s largest cluster of domestic and foreign-owned entertainment studios, it’s also home to the Digital Technology Supercluster, one of a national network of five business-led and partially government-funded innovation superclusters fostering new partnerships in business. Vancouver is now home to over 60 VFX and animation studios, and that number is growing. It’s also now the second-largest VR/AR ecosystem worldwide after Silicon Valley. There are more than 230 immersive technology companies in Vancouver; three years ago, there were only 15. And this past fall, the city hosted the VR/AR Global Summit on augmented and virtual reality. Artificial Intelligence Meets Virtual Reality in Montreal It’s no coincidence that Montreal, the home of Canada’s AI Supercluster, is also a hub for augmented and virtual reality technology. The city is also emerging as a global hotspot for VFX and animation; the industry there has grown by 88 percent since 2017. The city is now home to over 4,000 2D/3D animation and VFX specialists working within a full-service industry including academia, tool development, animation, sound, and production and post-production studios. Talent Pools are Deep, Wide, and Clearly Growing Top tech and creative talent from around the world are flocking to Canada, where employment in video games alone has grown by almost 30 percent in the past two years. This international talent is joining a highly skilled homegrown workforce of animation, design, video-game development and VFX professionals. Many Canadian digital media workers are coming out of some of the world’s most competitive programs at institutions including the Centre for Digital Media in Vancouver, Vancouver Film School, Vancouver’s Emily Carr University of Art + Design, Toronto’s OCAD University, Montreal’s School of Arts, Animation and Design, and Halifax’s NSCAD University. Canada is now home to four of The Hollywood Reporter’s ten top-rated visual effects schools in the world, including Sheridan College in Oakville, Ontario and Vancouver’s Lost Boy Studios, Think Tank Training Centre, and the Vancouver Film School. Vancouver also offers a variety of training programs for artists, software engineers and other technical professionals from all over the world, many of whom happily set down roots in a city known for its superlative quality of life. Where Tech Gets Creative, World Leaders Are Investing As we move into this new decade, luminary leaders in entertainment and tech are lining up to invest in Canada, many doubling down on the profitable decisions they made in the past and putting down solid roots for the future. In 2014 Sony Pictures Imageworks relocated its headquarters from Los Angeles to downtown Vancouver, where it’s thriving and growing alongside the likes of Industrial Light & Magic, a division of Disney-owned Lucasfilm. Netflix has pledged $500 million over five years to fund content made in Canada. French video game company Ubisoft continues to invest in operations across the country. Tech giant Microsoft is developing HoloLens, its AR/VR headset in Canada. Google is opening its first original games studio, Stadia Games and Entertainment, in Montreal, joining many prominent game developers now innovating in Canada. With almost 700 video game companies now operating within its borders (the majority in the provinces of Quebec and Ontario) Canada is home to top game developers like BioWare Edmonton, Ubisoft, Studio MDHR, Warner Brothers Games Montréal, Eidos-Montréal, Electronic Arts, Next Level Games and The Coalition. For global investors looking for a hot ticket in digital entertainment, getting in the game means playing with the all-stars in Canada. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
The film and television industries are virtually converging with the tech industry.
Vancouver, British Columbia Katy Brennan, Special to the The Hill In 2020, for the third year in a row, no less than twelve Canadian companies were named to the Global Cleantech 100. What is the Global Cleantech 100? It’s an annual roster of the world's top 100 cleantech companies, published by the Cleantech Group, a research and advisory firm based in San Francisco. The list recognizes the most innovative and promising ventures tackling the planet's most pressing environmental issues. This year, more than 13,000 companies in 93 countries were considered for this distinction. Canada has more ventures on the 2020 list than any other country after the United States. Given the relative size of these markets and sectors, this is a remarkable statistic. It’s particularly stunning considering that just one Canadian company made the inaugural list in 2009. How and why has the cleantech sector flourished and grown so dramatically in Canada in just over one decade? A brief look at each of these companies clearly illustrates how and why Canada is providing such a perfect ecosystem for cleantech. Axine Water Technologies Based in Vancouver, Axine offers electrochemical oxidation technology that effectively and efficiently removes harmful solvents, antibiotics and other organics from industrial wastewater generated by the pharmaceutical, electronics and chemical manufacturing industry. A significant amount of their $15.8 million USD in funding raised to date came from global investors, including Royal Dutch Shell and Asahi Kasei. The company recently signed a multi-year agreement with a leading pharmaceutical manufacturer in the midwestern United States. Carbicrete Montreal-based Carbicrete injects waste CO2 into a concrete and steel slag mixture when the concrete is still liquid, sequestering the carbon dioxide and creating concrete that is stronger and more weather resistant. They’ve raised $2.1 million USD to date and are poised to grow as their technology offers the construction industry a highly effective route to meeting new carbon emissions standards. CarbonCure Technologies Headquartered in Dartmouth, Nova Scotia, CarbonCure also takes waste CO2 generated by coal plants, refineries and other polluters and injects it into liquid concrete to sequester the carbon. Of the company’s $9.3 million USD raised to date, significant funds have come from renowned global investors like Jeff Bezos, Michael Bloomberg, Reid Hoffman, Bill Gates and Richard Branson. In December, LinkedIn announced that a new 245,000-square-foot building on their Mountain View, California campus would be built using CarbonCure’s concrete, adding to the 200 concrete plants in North America that currently use the company’s technology. Carbon Engineering Recently profiled here in Global Lenses: Canada, this Vancouver-based company is developing technology that directly captures CO2 from the air then combines it with hydrogen and electricity to create clean, affordable fuels for use in transportation. Having raised $107.4 million USD to date, the company is currently beginning work on its first carbon capture facility which, when completed in 2021, will be capable of capturing more than one million tons of CO2 every year. Ecobee The Ecobee, a smart thermostat that allows users to automate and closely control the heating and cooling in their home to maximize energy savings, has become one of the world’s best-selling smart thermostats. The company, which has raised $149.4 million USD to date, counts Amazon among its notable global investors. Last year the company announced that Amazon would invest $61 million in the company and that the Ecobee would become a fully integrated Alexa product, keeping the company on track to reach $1 billion in sales this year. Enbala Power Networks Vancouver-based Enbala makes smart, distributed grid software that makes it easier for utilities to switch to renewable power sources. With $47.1 million USD in funding, the company is helping utilities identify and respond to power grid inefficiencies in real-time, allowing municipalities, institutions and other grid operators to squeeze as much as they can out of their electricity systems. GaN Systems Ottawa-based GaN Systems is a global leader in gallium nitride power semiconductors, which are cost-competitive with silicon semiconductors while offering vastly superior performance. Semiconductors made from gallium nitride can sustain higher voltages and conduct electricity better than silicon-based chips. With $20 million USD in funding, the company aims to save new data centers over $1 billion in capital expenditures. Svante Based just outside of Vancouver in Burnaby, British Columbia, Svantes is developing technology that allows power generation and industrial facilities to capture CO2 at the source of emission in a cost-effective, commercially viable way. With $33.6 million USD in funding, the company aims to make carbon capture profitable across a wide range of large-scale industrial applications such as cement, steel, plastic, fertilizers and hydrogen. Li-Cycle Toronto-based Li-Cycle’s technology recovers lithium, nickel, cobalt and other valuable materials from spent lithium-ion batteries. The company’s economically viable, safe, environmentally friendly process can recycle all types of lithium-ion batteries, supporting a key element of the growing international movement towards zero carbon technologies. MineSense Technologies Vancouver-based MineSense’s “bulk ore-sorting” technology uses sensors and real-time data to help mines make better decisions about how to process ore, helping them reduce their CO2, energy, and water footprint. Significant portions of its $78.5 million USD funding comes from global investors like Caterpillar, Mitsubishi and Siemens. The company has deployed its technology at mines in Chile, Alaska, Ontario and British Columbia, including the Highland Valley Copper mine, the largest open-pit copper mine in Canada. Opus One Solutions Toronto-based Opus One creates distributed power grids that are smarter, more efficient and offer users more control than traditional, centralized electrical grids. Its GridOS platform, a suite of software tools, helps utilities find inefficiencies and better manage and extract value from local power grids. In a pilot project in Nova Scotia last year, the company used Tesla’s Powerpack battery system to help the province reach its goal of using 40 percent renewable energy. More recently, the Hawaiian Electric Companies announced that they would partner with Opus One Solutions to begin building a modernized, distributed grid powered entirely by renewables by the year 2045. Semios Vancouver-based Semios has developed technology that uses a network of sensors and advanced analytics to help farmers track crop conditions in real time, letting them better manage pests, disease, weather and irrigation. With $17.9 million USD in funding, Semios is helping to maximize food production per acre worldwide. It leverages data from a wireless IoT network of over 500,000 sensors in trees to develop a better understanding of the stress on trees across orchards, yielding optimal production with minimal inputs. Canada Cultivates Optimal Conditions for Growth Being based in Canada is far from incidental to the success of all these companies. Canada has a great reputation internationally for clean technology and for government and public support around the concept of addressing not just climate change but sustainability as a whole. Innovation hubs have developed in clusters around cities like Vancouver, creating ideal ecosystems for growth. Canadian Cleantech Offers Win-Win Opportunities for Investment Government and public support have played a major role in creating those hubs, which in turn become incubators for innovation. Programs created by organizations like NSERC (Natural Science and Engineering Research Council of Canada) and SDTC (Sustainable Development and Technology Canada) have helped provide the seed money for many cleantech companies. Investors in early-stage companies benefit not only from direct co-investment—programs like the Canada Infrastructure Bank and the Strategic Innovation Fund—but also from government policies within Canada, like new fuel standards that support sustainability in clean technology. For global investors, this is an easy, low-risk, high-upside win-win proposition, offering a wealth of opportunities to do very well by doing a world of good. Katy Brennan is a New York-based writer who explores a wide range of business-focused topics for The Hill.
Vancouver, B.C. Katy Brennan, Special to the The Hill Combining the energy of idealism with the power of cutting-edge science, Terramera is using technology to unlock the power in nature, make clean food affordable and feed more of the world through sustainable farming practices. Through clean technology, they are helping to increase global yields while decreasing synthetic chemical loads in agriculture worldwide. For investors, the possibilities are two shades of green; helping to save the planet never tasted so profitable. Canada Actively Cultivates Sustainable Agriculture & Clean Tech For Founder and CEO Karn Manhas, the company’s roots in Canada are the key to its success. “Canada is a really interesting place in terms of innovation because of the amount, over the decades, the Canadian government has invested in universities,” he explains. “This has created a really special resource in terms of talent. In terms of sustainable agriculture specifically, and clean tech in general, there's a strong cultural interest already. Caring about our place in the world is part of the culture. The Canadian government has actually invested several billion dollars on helping support Canadian clean tech companies, and that's across clean tech including sustainable agriculture. There’s a strong view that we need to apply the best innovations and technology to make the cleanest, most sustainable technologies the best economic options. Here in Vancouver, we know that we can actually do well economically by also doing well by the environment.” Canada to Tech Talent: Come Innovate, We’ll Make It Easy for You Beyond the local talent pool, Manhas has been able to attract top global experts for two key reasons: the attractiveness of the county and its active commitment to enabling immigration among the world’s best minds. “Not only do people want to be part of something that is going to change the world, but they’re also excited to come to Canada,” Manhas explains. “More importantly the Canadian government has supported that through a relatively new program called Global Talent Stream. When we first started the company, it would take five, six months to be able to get permits. They've really streamlined it for top global talent in companies like ours that have developed a level of trust. We were one of the first companies that really started to take advantage of that. It doesn’t really take a lot of people. It's just getting that keystone talent that holds everything together. People with specialized talent come and train a team around them. And when they come to Vancouver and they fall in love with it.” Universal Health Care Enhances Quality of Life They also love the health care system and other government supports that improve their quality of life. “I think it's one of those things that are a reflection of Canadian values,” says Manhas. “It’s like we’re saying ‘come here and focus on what you can do to make the world a better place. You're going to be cared for and supported for. You don't need to worry about covering education costs and what's going to happen to you if you get sick. You're going to be supported and cared for.” International Investors Doubling Down Manhas notes several advantages for investors as well. “Investing in a Canadian company makes investment dollars go much further, and so it de-risks a lot what they're doing. And that's not just about the Canadian dollar. There are actually a number of supports available for investment in all teach companies. For example, there’s a SR&ED credit, for example, and the Industrial Research Assistance Program, to ensure that key and valuable research, industrial research that has industrial applications is de-risked. When we were very small, we had a lot of investors really pushing us to move out of the country to where they were to be closer oftentimes to the U.S. But I think a lot of our investors including our U.S. investors and international investors, once they see the value of many of these support systems have really doubled down. We've had a number of investors where it was the first time they had ever invested in Canada, and I think they were surprised at how straightforward it is and also that the wealth of opportunities that exist here that, after they did the investment in us, they did a whole bunch more in Canada after that.” Trade Commission Plants Seeds, Feeds Growth One of the other big benefits of being a Canadian company, Manhas notes, is the robust trade commission service. “If you're a Canadian company, you have access to this huge network of hundreds of trade commissioners that are located all over the world that are basically extensions for the company to be able to go and find research or partner or do on the ground field evaluation and really help the company in locations all over the world. And I've not seen anything like that,” he says. “Many countries have trade investment services, but the breadth and depth and extensiveness of the Canadian trade services is unbelievable. It certainly helps to de-risk our growth and also increase awareness of what we're doing worldwide.” Ensuring Sustainability Through Profitability So what are they doing, exactly? “What we do, essentially, is computational chemistry,” Manhas explains. “We’re using the most advanced technologies that really we wouldn't have even had access to a couple of decades ago to transform how agriculture is done, make it more efficient and more productive. My view around clean tech is it's not enough for things to be more sustainable. It actually has to be better and easier and more economical. We’re asking how we can re-imagine how agriculture works, can we make it so that it's not only has a lower impact and is more sustainable, but it's also more consistent and profitable for everybody that's involved.” Feeding the World Through Computational Chemistry and AI So we have a set of technologies that include the application of computational chemistry to develop greener chemistry, more efficient chemistry solutions that we sell and build ourselves, but a big part of what we're doing is licensing and partnering with producers of agricultural farm inputs and to help make their products more efficient. And then we've got a whole machine learning and AI platform which is really looking at how crop inputs actually affect the plant to be able to help advise farmers when they should actually apply what they're applying. As we scale out, over the next 10 or 11 years, basically by 2030, our goal is to decrease the synthetic chemical load in agriculture by 80%. So reduce the synthetic chemicals that are required to be used in agriculture by 80% while helping to increase farm productivity by at least 20%, which would be enough to feed an additional billion people.” Actigate: Increasing Yields and Decreasing Toxins Through Precision Delivery Systems Among the first set of technologies the company is introducing is called Actigate. “Actigate is a platform where we use computational chemistry to understand the chemistries that are actually already being used on farm, whether they're organic or conventional, and 97% of the market is conventional,” Manhas says, “That's a big area that can be much more efficient. One of the things people don't realize is oftentimes, 60 to 90% of what's sprayed onto a farm isn't taken up to where it needs to go. So it'd be like if you had a headache, taking a shower in aspirin water instead of taking that pill. The aspirin would be dissolved in the water washing over you, and much of it would just go down the drain. And so it's not actually getting to where it needs to go to. Actigate is a delivery mechanism that makes sure that what is being used on a farm is much more efficient and gets only where it needs to get to and not to other places where it shouldn't be.” Harvesting A Most Meaningful ROI In Manhas’s view, it's about creating systems and technologies that create not just more sustainability, but better economic returns as well. “For every dollar of investment is a 20-fold return to getting this right over the next 10 to 30 years. There’s about 4.7 billion acres of farmland in the world. There's a study that's been done on converting acres to some regenerative acres, regenerative farming. And out of the 4.7 billion, if you were to focus on trying to convert 100 million acres, there would be a fair amount of cost of investments, probably about a $57 billion investment to convert 100 million. But the return would be over a trillion dollars between now and over a 20 year period. And that's a return back in increased productivity on the farm. So the economic returns are huge. And they're measurable. So what Terramera's doing is putting the tools and technologies in place to allow farmers to be able to do that, and then allow the world to decide how they put their investment dollars, because $57 billion seems like a lot of money, but if you put the technologies in place, it's not a lot for them to invest to have those kinds of returns.”
Calgary, Alberta Katy Brennan, Special to the The Hill As the energy sector undergoes a fundamental shift worldwide, Calgary-based Ambyint, formerly known as Pumpwell Solutions, is perfectly positioned to grow. That it’s based in Canada is fundamental to both its success and its potential, given the ease, reduced risk and substantial profits enjoyed by investors in the Canadian energy and AI sectors this unique company straddles. The Energy Sector’s Answer to the Self-Driving Car Ambyint combines traditional physics-based methods with modern artificial intelligence and machine learning to provide artificial lift and production optimization solutions to the oil and gas industry. In essence, the company’s technology is the industry’s answer to the ‘self-driving car.’ It’s using Edge, Internet of Things and AI/machine learning to create autonomous oil fields with greater efficiency, higher outputs, and lower costs. The company’s distinct capabilities, combined with its fortuitous base in the innovation base of Calgary, is already making the company a success story for foreign direct investment. The Perfect Investment That Just So Happened to be in Calgary In fact, Ambyint CEO Alex Robart first approached the company from that perspective. “I'm in this odd hybrid, company operator and investor,” he explains, “My twin brother and I are entrepreneurs and had just sold a couple of companies within oil and gas industry. I had been focused in the research/software side of things and my brother in oil and gas exploration and production. When we came across Ambyint, it just happened to be in Canada. I wasn't actively looking for a community. But in hindsight, it's really turned out to have offered a lot of phenomenal advantages, particularly Calgary’s phenomenal talent pool. It’s not a massive capital, but on a per capita basis, you do get much stronger modern web technology talent pools than in Houston.” To connect with its customer base, the company maintains offices in Houston, which Robart notes is “a phenomenal engineering town but doesn't have a per capita critical mass of modern web technology experts we have in Calgary. Today our entire technology team, with a couple of remote exceptions, is in Calgary. About every six months, as I’m re-evaluating where I want to build my talent pool, I keep on coming back to Calgary and finding better value. It's probably a 30-40% discount for my community resources versus my Houston resources.” Calgary’s unique talent pool, combined with some extra funding from SDTC (Sustainable Development and Technology Canada) and provincial R&D support has made adding resources in Calgary, a “no-brainer” for Robart. “As Americans and with no prior experience making investment decisions in Canada, we’ve found a lot of compelling factors to keep investing in Calgary.” He explains, “Our total cost is more than twice for on an employee in the U.S. versus Canada; health care is the biggest part of that. Overall, though, we are benefitting from Calgary’s outstanding resources in terms of tech talent, plus crime rate is low, just like most Canadian cities, and it's a very livable city, and you've got your mountains right there, so there's a lot of quality-of-life factors as well.” Robart to Silicon Valley Investors: A Change Would Do You Good From the standpoint of investment, Robart feels many investors simply need to learn more about investing in Canada. “So much of the critical mass of venture capital, and most Silicon Valley, most venture investors, they don't like to change things up from a transaction-structuring perspective. The standard is doing an investment into a Delaware C Corp, and a lot of venture guys who've never done anything but an investment into a Delaware C Corp. That’s just how they do things. If they’ve never done an investment into a Canadian entity, they may feel they don't have the time to do a bunch of homework and legwork and gets on attorneys as to what are the favorable aspects of investing in Canada. It's just a lack of knowledge.” The same barrier to growth within the oil and gas industry, he sees among many U.S. based investors: resistance to change. The winners will be those who seize opportunity by choosing the right partners with whom to learn and grow. Investing in Canada is Easy: Just Hire the Right Lawyers “Though we are seeing more Silicon Valley company industries getting more comfortable doing investments into Canadian entities, it's still not the norm by any means. The key is getting the attorneys. They're the ones who tell the venture guys what is, and what is not, market. They touch all the deals, and so they're the ones who have the pulse on how things are evolving and provide the guidance on some of the transaction structure stuff. There’s probably a dozen law firms that do the vast majority of the series A, series B, and beyond venture transaction work. Give it to them. They can then tell the venture guys that, Hey, it's okay to do a deal into an Alberta or an Ontario or a BC entity. Here's the benefits you can expect. Here's the trade off and risks. It's your call, Mr. Investor, but there's benefits that you're not probably accounting in your calculus.”
Iaculis imperdiet sagittis cum blandit sagittis tortor faucibus rutrum molestie, gravida dignissim. Metus tincidunt suspendisse aptent vivamus. Malesuada neque ante consectetuer phasellus suspendisse. Sagittis hendrerit est hendrerit dui ligula sed dictumst metus malesuada fusce et Libero morbi eu montes quis fames justo elit eleifend amet fermentum purus torquent sollicitudin fermentum congue nibh. Cras torquent gravida justo fermentum cum class vestibulum felis, cubilia a convallis conubia lacinia etiam. Sollicitudin fringilla non etiam. Eu molestie iaculis Litora adipiscing Ac ligula Nulla aliquam rhoncus pulvinar a Orci dolor scelerisque interdum inceptos Posuere bibendum. Libero quisque massa hymenaeos massa diam nonummy fames. Libero nam dictumst rutrum. Etiam bibendum eleifend justo. Hymenaeos ac sollicitudin rutrum rutrum ante imperdiet. Fringilla nam. Ante, curae; vestibulum primis pretium quam diam nostra malesuada. Facilisis duis magnis. Porttitor orci aenean natoque vestibulum pellentesque orci, duis lectus ante semper lobortis eu turpis imperdiet porta molestie aliquet. Fermentum morbi torquent gravida porta netus, dui vivamus. Odio elit lacinia blandit, mi porttitor nibh amet odio molestie pulvinar auctor pharetra gravida aliquam. Egestas. Ornare ipsum class. Sit Maecenas enim condimentum nibh cum nisl. Vel condimentum habitant ut cum metus quisque elit, dui ullamcorper iaculis sagittis congue quis ornare eu cubilia. Iaculis imperdiet sagittis cum blandit sagittis tortor faucibus rutrum molestie, gravida dignissim. Metus tincidunt suspendisse aptent vivamus. Malesuada neque ante consectetuer phasellus suspendisse. Sagittis hendrerit est hendrerit dui ligula sed dictumst metus malesuada fusce et Libero morbi eu montes quis fames justo elit eleifend amet fermentum purus torquent sollicitudin fermentum congue nibh. Cras torquent gravida justo fermentum cum class vestibulum felis, cubilia a convallis conubia lacinia etiam. Sollicitudin fringilla non etiam. Eu molestie iaculis Litora adipiscing Ac ligula Nulla aliquam rhoncus pulvinar a Orci dolor scelerisque interdum inceptos Posuere bibendum. Libero quisque massa hymenaeos massa diam nonummy fames. Libero nam dictumst rutrum. Etiam bibendum eleifend justo. Hymenaeos ac sollicitudin rutrum rutrum ante imperdiet. Fringilla nam. Ante, curae; vestibulum primis pretium quam diam nostra malesuada. Facilisis duis magnis. Porttitor orci aenean natoque vestibulum pellentesque orci, duis lectus ante semper lobortis eu turpis imperdiet porta molestie aliquet. Fermentum morbi torquent gravida porta netus, dui vivamus. Odio elit lacinia blandit, mi porttitor nibh amet odio molestie pulvinar auctor pharetra gravida aliquam. Egestas. Ornare ipsum class. Sit Maecenas enim condimentum nibh cum nisl. Vel condimentum habitant ut cum metus quisque elit, dui ullamcorper iaculis sagittis congue quis ornare eu cubilia.
Iaculis imperdiet sagittis cum blandit sagittis tortor faucibus rutrum molestie, gravida dignissim. Metus tincidunt suspendisse aptent vivamus. Malesuada neque ante consectetuer phasellus suspendisse. Sagittis hendrerit est hendrerit dui ligula sed dictumst metus malesuada fusce et Libero morbi eu montes quis fames justo elit eleifend amet fermentum purus torquent sollicitudin fermentum congue nibh. Cras torquent gravida justo fermentum cum class vestibulum felis, cubilia a convallis conubia lacinia etiam. Sollicitudin fringilla non etiam. Eu molestie iaculis Litora adipiscing Ac ligula Nulla aliquam rhoncus pulvinar a Orci dolor scelerisque interdum inceptos Posuere bibendum. Libero quisque massa hymenaeos massa diam nonummy fames. Libero nam dictumst rutrum. Etiam bibendum eleifend justo. Hymenaeos ac sollicitudin rutrum rutrum ante imperdiet. Fringilla nam. Ante, curae; vestibulum primis pretium quam diam nostra malesuada. Facilisis duis magnis. Porttitor orci aenean natoque vestibulum pellentesque orci, duis lectus ante semper lobortis eu turpis imperdiet porta molestie aliquet. Fermentum morbi torquent gravida porta netus, dui vivamus. Odio elit lacinia blandit, mi porttitor nibh amet odio molestie pulvinar auctor pharetra gravida aliquam. Egestas. Ornare ipsum class. Sit Maecenas enim condimentum nibh cum nisl. Vel condimentum habitant ut cum metus quisque elit, dui ullamcorper iaculis sagittis congue quis ornare eu cubilia. Metus sociosqu Sit, accumsan, massa convallis. Aenean cras at sodales. Nostra quam, ligula lorem lacinia sed, cras dapibus morbi nec. Turpis ligula massa vivamus consequat taciti cum pede dictum tellus purus fusce platea lorem scelerisque dui sem arcu viverra diam nisi nunc hymenaeos quam duis placerat. Magna posuere ligula. Molestie eros fringilla quam inceptos. Iaculis imperdiet sagittis cum blandit sagittis tortor faucibus rutrum molestie, gravida dignissim. Metus tincidunt suspendisse aptent vivamus. Malesuada neque ante consectetuer phasellus suspendisse. Sagittis hendrerit est hendrerit dui ligula sed dictumst metus malesuada fusce et Libero morbi eu montes quis fames justo elit eleifend amet fermentum purus torquent sollicitudin fermentum congue nibh. Cras torquent gravida justo fermentum cum class vestibulum felis, cubilia a convallis conubia lacinia etiam. Sollicitudin fringilla non etiam. Eu molestie iaculis Litora adipiscing Ac ligula Nulla aliquam rhoncus pulvinar a Orci dolor scelerisque interdum inceptos Posuere bibendum. Libero quisque massa hymenaeos massa diam nonummy fames. Libero nam dictumst rutrum. Etiam bibendum eleifend justo. Hymenaeos ac sollicitudin rutrum rutrum ante imperdiet. Fringilla nam. Ante, curae; vestibulum primis pretium quam diam nostra malesuada. Facilisis duis magnis. Porttitor orci aenean natoque vestibulum pellentesque orci, duis lectus ante semper lobortis eu turpis imperdiet porta molestie aliquet. Fermentum morbi torquent gravida porta netus, dui vivamus. Odio elit lacinia blandit, mi porttitor nibh amet odio molestie pulvinar auctor pharetra gravida aliquam. Egestas. Ornare ipsum class. Sit Maecenas enim condimentum nibh cum nisl. Vel condimentum habitant ut cum metus quisque elit, dui ullamcorper iaculis sagittis congue quis ornare eu cubilia.
Canada is the best country for global investment. Period.
Vancouver, B.C. Katy Brennan, Special to the The Hill It’s no wonder some of today’s most visionary investors have taken a keen and active interest in Carbon Engineering Ltd. a revolutionary clean energy company that is leading the world in carbon capture technology. Founded in British Columbia in 2009 by Professor David Keith, Carbon Engineering is taking on the profound challenge posed by the accumulation of carbon dioxide (CO2) in the atmosphere. What Carbon Engineering is doing is nothing short of magical…and money-making, offering investors a rare opportunity to do well and do good with all the efficiency, ease, and relatively lower risks associated with investing in Canada. Capturing CO2—And Turning it into Clean Fuels For the past decade, the company has been designing and engineering a groundbreaking technology that can capture CO2 directly from the atmosphere at large industrial scale, and a second technology that synthesizes it into clean, affordable transportation fuels compatible with today’s engines. This proven technology, combined with a variety of public and private partnerships, including supports and programs from the Canadian government, has given Carbon Engineering an edge in its development and expansion both within Canada and around the world. According to Chief Executive Officer Steve Oldham, being based in Canada has been, and continues to be, far from incidental to the company’s success. “Canada has a great reputation internationally for clean technology and for government and public support around the concept of addressing not just climate change but sustainability as a whole. We’ve got big clusters of clean technology capability here in Canada, and those clusters are how cities like Vancouver become hubs.” Government and public support have played a major role in creating those hubs, which in turn become incubators for innovation. Programs like those from NSERC (Natural Science and Engineering Research Council of Canada) and from SDTC (Sustainable Development and Technology Canada) have made companies like Carbon Engineering possible. As Oldham explains, “Those early funds are crucial and, in general, federal funds and provincial funds in Canada are very well run, very receptive and very accessible, as are R&D tax credits, which are administered by Revenue Canada.” Canada Shows Global Investors the Money What does this mean for investors? “A lot of those programs come with a requirement for matching funding,” says Oldham. “So, if you're an investor looking especially at an early stage company, your dollar goes further because you can get additional government support. Beyond that, in terms of investment in any clean tech company, you benefit from government policies inside Canada, like new fuel standards that support sustainability in clean technology. Plus, programs like the Canada Infrastructure Bank and the Strategic Innovation Fund that you can look to as you grow, where the government joins as financial partner but also shares in the financial success. That's a win-win public private partnership.” Oldham sees advantages for investors at every stage of development for his company and for others in Canada. “I look at companies having three stages,” he explains, “There is a pre-revenue stage where you are searching for every dollar to support your good idea and bringing it to reality. The second stage is where you're looking to first go to market. That’s often the hardest stage because getting an investment from commercial banks when you're doing something for the first time is always hard. So that's where programs like the Strategic Innovation Fund and the Infrastructure Bank come in to play. Canada offers good support at both of those stages. Then, of course, developing policies around climate change, like the recent announcement from the Liberals joining the election campaign that Canada will go to net zero by 2050 - these are all strong policy statements moving forward as companies like ours flourish.” So where is Carbon Engineering in this process? “We're in the second stage,” says Oldham. “We've gone through that first stage of demonstrating our technology. We’ve had a lot of international visitors to our facility in Squamish, many of them facilitated by the various trade representatives that Canada has around the globe. We’re now in the process of taking our technology internationally and making a lot of progress in the United States in particular. We’re working with a company called Occidental to bring our technology beyond Canada and into the U.S. Our first large-scale commercial plant will be in Texas.” So, investing in Carbon Engineering actually means creating jobs in the U.S. as well as in Canada, not to mention bringing the benefits of carbon capture to the States. “Even if the U.S. may seem to be moving backwards on clean energy policy, the policies that are on the books today are really favorable to us in terms of things like tax credits, so this makes sense for us on many levels,” Oldham explains. Carbon Engineering is clearly making a lot of sense in terms of foreign direct investment among leading visionaries, both corporations and individuals, in the fields of energy, technology, and far beyond. “We announced a $68 million US dollar equity raise earlier this year, and the majority of that was foreign investment,” Oldham says, and he attributes much of this to his country’s well-founded reputation for investment. Canada Supports Innovation & Technology “Canada is known as a country where business is operated in a fair and ethical fashion, where the rule of law is well respected and where innovation and technology is supported. Canada is a very good early market. Of course, Canada's market is inherently limited. We're only a nation of about 30 million people. However, the technologies we developed here have built Canada's reputation abroad. Trade treaties have also helped businesses here expand globally. I believe we're the only country in the world that has trade treaties with Europe, North America, South American, and Asia.” Significantly, what the world invests in Carbon Engineering will reap more than financial rewards. “We bring CO2 back down from the atmosphere,” Oldham explains. “Of course, people everywhere are aware of the problem of CO2 in the atmosphere, and a lot of attention is given to how do you stop more CO2 getting into the atmosphere. That is very important. However, of the amount of CO2 that is causing the climate change problem, 95% of it is already in the atmosphere. So even if you stopped emissions tomorrow, globally, you still have a huge challenge to bring CO2 back from the atmosphere, put it back underground again. So that's what our technologies fundamentally does. And of course, the benefits of reversing climate change would be felt in every corner of the globe. Essentially, the mission of our company is the health of the world.” An Opportunity For Investors To Do Well…And Good That’s quite an ambition, of course, and too tall an order for one company to fill. So, for Oldham and Carbon Engineering, partnerships are key. “Our business plan is to license our technology to partners across the globe,” Oldham explains. “We will partner with any company that wants to build our plants in their country or in their market. In so doing, we’re making sure that our intellectual property is protected and that our investors get a reward for their work they've done in growing the company. So international partnerships are hugely important for us. When our first plant in Texas becomes operational about 2022, we’ll enter into a new phase of growth. We’re hoping to have many other plants in development in parallel with this. The faster it goes, the better for everybody.” This is partly because Carbon Engineering’s technology is addressing a particularly vexing aspect of climate change that no other company or technology has been able to tackle: hard-to-eliminate emissions, like those from planes. “It’s extremely hard to decarbonize aviation,” Oldham says. “Nobody is inventing an electric plane. It's not happening anytime soon. There are factors of today's emissions that you can’t eliminate, so you have to offset. We have to allow planes to continue to fly on fossil fuels because we need planes for our economy. But you build one of our plants, and we capture and bury an equivalent amount of CO2. Here is a way in which you can decarbonize all emissions at whatever speed you want to go. There are no excuses.” How quickly carbon capture becomes a global reality will depend on the support of both investors and public policies. Fortunately, this is a technology that enjoys bipartisan support. Why? Oldham explains, “Because the left side of the political spectrum appreciates that our technology as addressing climate change. Those on the right see this as a way in which energy sector, the economic centers that drive so much growth and financial wealth can continue. We will need time to transition off fossil fuel. While we transition away from fossil fuels to synthetic fuels, renewable energy, capturing CO2 from the atmosphere allows us to decarbonize in parallel. We are offsetting the continued need for oil and gas, while oil and gas remains crucial for our economy. With carbon capture technology, we’re serving business today as well as protecting the environment for future generations.” In addition to pursuing a number of international partnerships, the company is now in talks with the Canadian government about a project in collaboration with First Nations across the country to build plants on the lands of tribal people who share a desire for jobs and financial rewards as well as addressing climate change in a particularly effective way. “A lot of countries are adopting net zero targets now. So, we're working with governments, bureaucrats, and leading companies internationally on how carbon capture can help reach those goals,” Oldham says. “We get to net zero either by eliminating all emissions or by taking one molecule out for every single molecule that goes out. So now both solutions are available.”
"This is a technology that enjoys bipartisan support."
"For every dollar of investment is a 20-fold return to getting this right over the next 10 to 30 years."
"It's your call, Mr. Investor, but there's benefits that you're not probably accounting in your calculus."
"It’s not a massive capital, but on a per capita basis, you do get much stronger modern web technology talent pools than in Houston"
