👋 Good morning, and welcome to (or welcome back to) VTJ’s Sunday Briefing: your weekly digest of the city’s innovation news, deals, insights, and more.
What came from all the DEI commitments made in 2020? TechCrunch summarizes the outcome as the ‘Great Rollback.’ Several reports reveal there’s been a backslide in progress to level the playing field in tech as programs have been defunded, lawsuits are being filed, and funding for Black founders has reached its lowest compared to 2016.
Read on for what and who can lead a step change toward progress as well as the latest honourees added to the BC Innovators Hall of Fame.
Today’s briefing is 1,349 words: a four-minute read.
-Lisa
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🗞️ FROM VTJ
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Vancouver's tech office experts - celebrating 30 years
Connect with The High Technology Facilities Group at CBRE – leaders in sourcing office space for BC’s startup and unicorn companies. The HTFG excels at helping clients find unique workspaces that drive productivity, reflect values, attract top talent, and fuel workplace culture.
This year, the team is celebrating its 30th anniversary! It’s been an incredible journey since the team formed in 1994 with talented individuals shaping Vancouver’s tech scene. Together, they've navigated through market changes, expanded their reach and built a reputation as creative problem-solvers. Here's to many more years of helping Vancouver's tech tenants!
Read more about their 30-year journey.
🤝 FUNDING & DEALS
VC firms Raven Indigenous Capital Partners and Pender Ventures will receive part of the federal government’s $25 million in funding targeted at supporting underrepresented entrepreneurs.
Acel Power, an ocean tech startup raised $13.6M in a Series A funding round to scale production of its battery-powered outboard boat engine.
The government of BC announced it is contributing $2 million through its Innovative Clean Energy fund to build a battery innovation centre at the University of British Columbia’s Okanagan campus.
Dooly, a software startup, has been acquired by Mediafly, a Chicago-based software firm used by Databricks, Nvidia, Intuit, and Nestle, to make the lives of sellers more productive and effective.
VoPay, a payment processor, has partnered with Sage, a payroll software, to advance the company’s payment tech for small-and-medium-sized businesses.
Get the latest funding and deals announcements and stories curated in our Members-only Morning Report.
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🗞 IN OTHER NEWS
Fox Fold, a startup disrupting the $60 billion tissue market, has been recognized by Fast Company for creating one of the most impactful designs in 2024 through its Innovation By Design awards.
OpenRep, an AI-powered social media content generator and scheduler, announced that it’s grown to set up shop in Deloitte’s downtown building.
The BC Securities Commission called for amending federal bankruptcy law to protect Canadian investors after the Supreme Court of Canada ruled fines issued by regulators can be wiped out by bankruptcy.
The BC Tech Association, a not-for-profit member-funded trade association, revealed that access to talent has become a major issue for tech companies and that a new report with solutions will be released soon.
💡 IDEAS & INSIGHTS
RBCx, the tech and innovation banking arm of RBC, revealed that 2SLGBTQIA+ professionals hold less than 1% of leadership positions in Canada's tech industry and that less than 1% of venture funding went to queer founders, as well as steps that can be taken to foster diversity and inclusion.
Blanka, an e-commerce marketplace that offers on-demand access to private-labeled products, shared how it evolved from a scrappy startup to VC-funded business.
Broadsight Technology, a collaboration platform for media relations and issues management teams, was highlighted for its journey from UBC spinoff to a venture with a growing list of clients.
Wavy, a culture management platform, and Zapier, the web automation tool, is sharing best practices for remote engagement and performance including Zapier’s lessons from the journey.
DevEngine connects Canadian companies with Latin American tech talent, crafting superb and cost-effective software, data and cloud engineering teams. Operating throughout Latin America, their main base is in Vancouver, BC. Download DevEngine's Salary Guide for more details.*
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👀 CAN’T MISS
August 14 | #VTJTalks: Non-Dilutive Capital: Secure a Strong Balance Sheet in Uncertain Times: Many questions remain about the impact of changing global economic trends on companies and what CEOs can do to position their companies for success. Join this event to learn about the different types of non-dilutive capital and to hear first-hand experiences of local companies that leverage this type of financing to scale their business.
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August 20 | WTF: How VCs and Startups Can Navigate Global Uncertainty: In a year marked by geopolitical, economic, and social volatility, the landscape of private investing and capital allocation is undergoing significant transformation. Moderated by our very own, William Johnson, this event brings together industry leaders, seasoned investors, and innovative startup founders to explore the multifaceted impacts of global uncertainty on private capital markets.
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August 22 | VTJ Members Only Social: Meet fellow VTJ members and various founders, tech leaders, and enthusiasts at a local pub. There’s limited capacity so register as soon as you can. We’ll be hosting socials on a regular basis and hopping around the city to try out different spots within Vancouver's restaurant scene.
➡️ Register
August 22 | AI for Impact: Connect with industry leaders and enthusiasts to learn about the latest AI advancements. This summit aims to foster knowledge sharing, inspire collaboration, and showcase how AI is transforming various sectors. Whether you're a seasoned professional or new to the field, this event will provide valuable insights into the future of AI.
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VTJ Members get early access and discounts to all our events. Don’t miss out.
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