University of Alberta looks for $50 million

TOGETHER WITH

Welcome to this week's Sunday Briefing. In this issue, read about the University of Alberta’s new innovation fund, plus 13 other stories you might’ve missed. Have a great day. We'll see you again on Wednesday.

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🗳️ Question of the Week

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🤝 Funding, Deals + Partnerships

• University of Alberta targets $50 million with new innovation fund, announces first investment in AI system control startup. The university plans to reinvest returns from the donor-fuelled fund into “future innovations.” Betakit

• Scription raises $2.5M in funding. The Edmonton-based commercial maintenance startup intends to use the funds to launch and onboard anchor customer brands. Finsmes

• Agtech startup HEMPALTA going public to grow its brand. HEMPALTA is an agricultural technology company focused on innovative hemp processing and product creation. Calgary Tech

• U of A launches new fund to ignite innovative ideas. Donor-supported fund will invest in startup ventures solving complex challenges and diversifying Alberta’s economy. University of Alberta

• Video: 1st U of A innovation fund recipient aims to improve drinking water quality using artificial intelligence. RL Core Technologies’ idea is to improve sustainability and clean water by using artificial intelligence. Global News

• “Cooler financing environment” leads StellarAlgo to restructure and make layoffs. Twenty-one employees laid off could represent nearly one quarter of Calgary startup’s headcount. Betakit

📰 Need To Know

• Northstar commences detailed engineering design for Empower Calgary facility. Work begins on the planned asphalt shingle reprocessing facility. Northstar Clean Technologies Inc.

• Cameco mourns loss of long-time Board Chair Ian Bruce. Bruce also served as founding Board Director of the Opportunity Calgary Investment Fund. Financial Post

• Provincial digital strategy should be a priority for Alberta’s government in 2024. Away from the energy cycle roller coaster, Alberta has become home to promising start-ups, attracted tech company head offices from other jurisdictions, and produced some truly remarkable scale-up firms that are taking on global markets. Council of Canadian Innovators

• UCalgary research team takes on complex virus tracking and modelling. A Schulich School of Engineering professor is hoping to help experts make more-informed decisions with any future virus as he undertakes a new five-year study looking at demographics, geography and more. University of Calgary

• Video: ‘Caught in the tailwinds’: Alberta clean tech companies’ eye stateside incentives amid political squabbles at home. Alberta is announcing a funding competition with $40 million in grants on offer for emissions-reductions projects of all kinds. Global News

• Tech executive Bobbie Racette honoured as UVic's Distinguished Entrepreneur of the Year. Racette, who is Cree-Métis, is the founder and chief executive of Calgary-based Virtual Gurus and a brand-new app called VG on Demand. Times Colonist

• Startup Canada’s 2023 cross-country tour touches down in Calgary. The five-stop national in-person event series connects early stage entrepreneurs with national ecosystem players, local support organizations and industry experts to drive their businesses forward. Innovating Canada