GOVERNMENT FUNDING & NEWS

 Trump imposes “reciprocal tariffs” on U.S. trading partners while Carney implements counter-tariffs on autos

U.S. President Donald Trump imposed “reciprocal tariffs” on about 90 countries including U.S. trading partners, triggering the worst day for U.S. stock markets since June 2020 during the COVID-19 pandemic.

Trump levied a minimum 10-percent tariff against all countries with some tariffs exceeding that, such as 34 percent on China and a 20-percent tariff on European Union imports. China struck back, announcing a 34-percent tariff on American goods.

Trump threatened on April 7 to slap additional 50-percent tariffs on China unless it withdraws its planned 34-percent counter-tariff on U.S. goods.

The tech-heavy Nasdaq Composite and S&P 500 tumbled six percent (down 11.8 percent from its record set in February) and five percent respectively on the day Trump announced the tariffs, wiping out about US$3.8 trillion in value. 
The next day, the sell-off continued with the S&P and the Nasdaq both closing down about six per cent. The Nasdaq spiralled into bear market territory, as the tech-heavy index dropped around 20 per cent from its peak.

The Dow Jones fell 5.5 percent, down 10 percent from its February peak. The selloff continued at the start of this week.
In a note to investors, JP Morgan said it now put the odds of a global economic recession this year at 60 percent, up from 40 percent previously, noting that the shock from the tariffs could drive growth in the U.S. down by two percentage points this year.

In Canada, the index of top information technology companies on the Toronto Stock Exchange was down about 3.7 percent.

New data showed employment in Canada declined by 33,000 positions – the biggest drop since 2022, according to Statistics Canada. Most of the job losses were in Alberta’s energy sector and Ontario’s auto sector, which rely heavily on U.S. customers.

Canada and Mexico weren’t on the list of companies hit by reciprocal tariffs. However, U.S. tariffs of 25 percent on steel and aluminum and on automobile parts and vehicles remain in effect. There’s also a 10-percent levy on Canadian energy and potash imports that are non-compliant with the United States-Mexico-Canada Agreement (CUSMA) free trade agreement.

Canada is imposing counter-tariffs that will match the U.S. tariffs on vehicles that are not compliant with CUSMA and on the non-Canadian content of CUSMA-compliant vehicles from the U.S. The counter-tariffs won’t apply to auto parts.

Liberal Leader Mark Carney, acting in his capacity as Prime Minister, estimated about $8 billion would be raised from Canada’s counter-tariffs that would go towards providing relief to auto workers who lose their jobs and companies that suffer losses – on top of the promised $2-billion strategic relief fund he has promised if elected.

Automaker Stellantis halted production at its Windsor, Ont. manufacturing facilities for two weeks and temporarily laid off about 4,000 workers.

China’s commerce ministry said it will further curb exports of rare earth minerals, including samarium, used in aerospace and military technology. China also added 27 U.S. entities to lists of firms facing export controls or trade sanctions. Sixteen of them will be banned from importing items that can be used for both military and civilian purposes.

Trump’s new tariffs “changes nothing for Canada’s fundamental trade situation with the U.S.,” the Council of Canadian Innovators said in an email.

"After months of trade turbulence, one thing is clear: Canada needs a bold, modern economic strategy – one that builds domestic capacity, protects our sovereignty and positions Canadian companies to lead globally.”

What’s needed now is a focused, forward-looking industrial policy that supports Canadian firms, drives investment toward high-value sectors, and deploys procurement as a strategic tool, the CCI said.

"This moment isn’t just about tariffs or temporary relief measures. It’s about seizing the opportunity to build a globally competitive, resilient economy that leads to better paycheques for all Canadians and secures long-term prosperity for generations to come." CBC News, Global News

******************************************************************************************************************************

U.S Senate passes resolution to terminate “national emergency” rationale behind Trump’s tariffs

The U.S. Senate passed a resolution last week that would thwart President Donald Trump's ability to impose tariffs on Canada, delivering a rare rebuke to the president just hours after he unveiled sweeping plans to clamp down on international trade.

The Senate voted 51-48 to approve the bill and send it to the House of Representatives, where it is likely to be shelved. In a blow to Trump, four Senate Republicans teamed up with Democrats to advance the legislation.

The Democratic-sponsored bill would terminate a national emergency Trump declared on January 22, which he linked to illegal imports of the deadly fentanyl drug from Mexico, Canada and China and used to target Canada with steep new tariffs.

The measure needed at least four Republican votes to pass in the chamber where Trump's party holds a 53-47 majority.

Unrestrained presidential tariff authority is the biggest threat to American competitiveness, national security, innovation and growth, Martin Mittelstaedt, former investment reporter for The Globe and Mail, said on LinkedIn.

Mittelstaedt said from his tech policy perspective, he has mentioned this problem many times to people in tech and Silicon Valley, “who seem to consistently brush tariffs off assuming any new tariff would fail given Congress' opposition. This isn't true.”

Tariffs can be enacted unilaterally by the president, “a truly awesome presidential power that if abused, could crumble our economy overnight,” he said.

AI, Silicon Valley, and cutting-edge science can all quickly turn into “nice to haves” if Americans can't afford food, clothes, and basic necessities, Mittelstaedt said.

“Ten percent tariffs would drive massive cost increases, flash freezing capital and discretionary spending. Silicon Valley would crumble, as would the rest of the economy.”

“We need to stop sleep walking towards this policy failure and give such tariff proposals, and the underlying authorities, the serious treatment they demand.” CBC News, Mittelstadt on LinkedIn

*****************************************************************************************************************************

More than three-quarters of Canadian startups expect U.S. tariffs will impact their businesses

More than three-quarters of Canadian startups report that U.S. tariffs will have a direct or indirect impact on their businesses, according to a survey of MaRS and Communitech ventures.

More than 175 companies from across the country responded. Seventy percent of those surveyed reported having generated U.S. revenue last year. Even startups that have a large Canadian customer base are feeling the pinch.

Montreal-based Sollum Technologies predominantly sells its advanced LED lighting solutions to greenhouses in Canada, but because many of its clients export to the U.S., the company is already noticing reduced demand as buyers defer discretionary spending, such as investing in new equipment.

Seventy percent of survey respondents reported they’d planned to generate new revenue from the U.S. in the coming year. But 26 percent said they are now reassessing their international expansion strategies.

Nearly two-thirds of those surveyed planned to raise funds this year and many are currently looking for ways to extend their cash runway and rethink business plans. Many Canadian startups have found it difficult to find a lead investor, particularly in the cleantech space.

MaRS and Communitech asked startups to identify government supports that might mitigate the fallout from this trade dispute. Their recommendations are:

• Increase funding for business support programs (such as the Scientific Research & Experimental Development tax credit and the National Research Council – Industrial Research Assistance Program).
• Increase business supports for expansion into non-U.S. markets.
• Increase government procurement of Canadian goods and services.
• Remove internal trade barriers or accelerate interprovincial trade.
• Provide subsidies to impacted companies.
• Export market development for non-U.S. markets, establishing collaborations, strategy development and funding to execute strategy.
• Lower business costs (such as business taxes, funding or preferential tax treatment for exporters, and provide supply-chain assistance).
• Increase funding of business supports.

Last month, the City of Toronto released a new plan to support Canadian businesses through procurement.

Under the proposed terms, only domestic companies will be allowed to bid on competitive contracts worth less than $350,000 for goods and services, and less than $8.8 million for construction.

As well, the municipal government announced new supports for the city’s manufacturing sector to make it easier to find local suppliers, and pledged to form new partnerships to help Toronto exporters expand internationally. MaRS

******************************************************************************************************************************

Canadian small business owners shifting their suppliers and investments in wake of U.S. tariffs

The widespread business disruption caused by U.S.-Canada tariffs is leading Canadian small business owners to shift their suppliers and investments to domestic and international markets other than the U.S., according to new survey data by the Canadian Federation of Independent Business (CFIB).
“Businesses need more certainty, it’s simple as that. As one business owner told us, the unpredictability of the current situation is making surviving the pandemic look like a walk in the park,” Simon Gaudreault, CFIB’s chief economist and vice-president of research, said in a statement.

About one-third (32 percent) of business owners have already shifted to suppliers/markets within Canada, 27 percent plan to increase their investment in Canada, while one-third (33 percent) intend to reduce efforts in the U.S. over the next six months. 
Small businesses are also promoting Canadian-made products, delaying/cancelling expansion plans, and exploring international alternatives. However, only three in 10 businesses are confident that their actions will help offset the impact of the trade war.
CFIB’s research also found that:

• While 70 percent of small firms support Canada’s retaliatory tariffs, nearly nine in 10 are struggling with business planning.
• Nearly half of small businesses (47 percent) do not consider the U.S. a reliable trading partner.
• While most U.S. exporters have CUSMA-compliant goods, 30 percent are unsure about their compliance. Half of small firms would find government support in handling CUSMA-related paperwork helpful. 
• Nearly one-third of exporters use the de minimis rule to export goods to the U.S. This U.S. rule allows companies to export up to US$800 in goods to consumers duty and tariff free, but it could potentially be phased out.

“Small business optimism is at historically low levels. With the federal election now underway, we’re calling on all political parties to include small business policies in their platforms,” Dan Kelly, CFIB’s president, said in a statement.

“That includes commitments to eliminating remaining internal trade barriers and reducing the tax burden on small businesses. We need to instill confidence in business owners and strengthen our economy if we want to get through the next few uncertain months.” CFIB

*******************************************************************************************************************************

U.S. tariffs on pharmaceuticals will likely drive up costs and cause shortages of critical Canadian-made drugs: U of T study

U.S. tariffs on pharmaceuticals will likely drive up costs and cause shortages of critical Canadian-made drugs, including antibiotics, antidepressants and drugs for HIV treatment, according to a new study led by the University of Toronto (U of T).

“Tariffs could disrupt access to essential drugs in the U.S., especially drugs where the Canadian [version] is the only or the most commonly used product,” said study lead author U of T drug policy researcher Mina Tadrous, who is also a licensed pharmacist. “This is across the board for treatments for infections and chronic diseases.”

The study was published in the Journal of the American Medical Association.

Some medications that are sole-sourced from Canada include clinically important drugs like Ibalizumab, which is used to treat HIV infections, and Oxcarbazepine, which is used to prevent seizures.

U.S. President Donald Trump has threatened to impose 25-percent tariffs on pharmaceuticals to boost domestic manufacturing and drive down high prices in the U.S. – a plan that could backfire, according to Tadrous’s research.

Pharmaceutical products imported under the terms of North America’s USMCA trade agreement have been exempt so far from tariffs.

“Tariffs could hurt both countries by increasing costs and further straining supply chains on both sides of the border,” Tadrous warned. “Policymakers on the Canadian side of the border are also considering counter-tariffs for pharmaceuticals. We think this sets a dangerous precedent that is counterproductive.”

Tadrous and colleagues looked at U.S. data from the fourth quarter of 2022 to the third quarter of 2023. In that time, more than 22,000 different drug products were sold in the U.S., including 411 that were manufactured in Canada.

While Canadian-made pharmaceuticals only represented a small fraction of the total U.S. market – about two percent – that still worked out to US$3 billion in sales, meaning that 25-percent tariffs could add $750 million to costs.

“The effects may differ for brand-name and generic drugs, with high-cost brand-name drugs likely absorbing short-term cost increases, but the long-term effects remain uncertain,” according to the study. “Historically, minor shifts in supply chains create shortages, particularly when manufacturers lack rapid production scalability to meet demand.”

The 22,000 individual drug products sold in the U.S. represent 3,100 unique drugs. In this context, an “individual drug product” means the various dosages, forms and brands in which a drug is available, while a “unique drug” is the overall medicine in question.

For example, the unique drug ibuprofen is sold under the names Advil and Motrin by different companies in several forms and dosages, which are known as “individual drug products.”

Among the unique drugs sold in the U.S., 173 (5.6 percent) contained at least one Canadian ingredient, while 52 (1.7 percent) depended on Canada for the majority of supply.

Of these, 28 were sole-sourced from Canada, 27 had a history of shortages and 23 were deemed clinically important – meaning they are considered leading treatments by experts.

“Although Canada is not the largest supplier of medications to the U.S., tariffs could raise costs and strain supply chains,” Tadrous concluded. “Extending tariffs to larger suppliers (e.g., China, India, Europe) could worsen the predicted effects, providing rationale for pharmaceuticals being exempt from tariffs to avoid increasing health care costs and worsening disruptions in U.S. supply.” CTV News, The Journal of the American Medical Association

********************************************************************************************************************************

The Office of the U.S. Trade Representative released its annual list of global trade barriers and it includes Quebec's controversial language law Bill 96 as a trade irritant between the two countries. The nearly 400-page National Trade Estimate Report lists all of the tariff and non-tariff barriers present in countries that import U.S. goods and services. U.S. officials have discussed behind closed doors the possibility of imposing trade sanctions on Canada over Bill 96, the CBC reported. Bloc Québécois Leader Yves-François Blanchet accused Mark Carney of siding with U.S. President Donald Trump and urged Quebecers to turn on the Liberal leader. Blanchet's criticism follows Carney's remarks that a government led by him would act as an intervenor at the Supreme Court of Canada should it ever hear a challenge to Bill 96. Carney said he would do so not because he has a problem with the legislation, but because he opposes any province's pre-emptive use of the notwithstanding clause to pass laws. In Winnipeg last week, Carney dismissed the notion that he would ever negotiate with the U.S. about issues that affect the French language, culture or supply management. The National Trade Estimate Report also includes as trade irritants Canada’s restrictions on single-use plastics. According to the report, without  viable alternatives for plastic packaging, U.S. industry is concerned about higher food waste and lowered agricultural exports. Canada’s Online News Act and issues with a new digital system for collecting Canadian customs duties also made the list of trade irritants. CBC News

********************************************************************************************************************************

Where the major federal political parties stand on postsecondary education

Ahead of the federal election on April 28, University Affairs published an overview of where each major political party stands on postsecondary education, according to their platforms and statements from party leaders during the campaign.

Liberal Party of Canada

Under the new leadership of Mark Carney, the Liberal Party would: 

• Maintain immigration levels, including international student visa caps. There is no fixed date when the caps would be removed. 

• Introduce a housing plan featuring a new entity named “Build Canada Homes” to re-engage the federal government in home construction and provide $10 billion in low-cost financing and capital to affordable home builders. Of this amount, $2 billion will be allocated to developing new student housing in partnership with the provinces.

Conservative Party of Canada

Led by Pierre Poilievre, the CPC would: 

• End the “imposition of woke ideology” in the federal civil service and in the allocation of federal funds for university research.

• Incentivize federal funding to universities that have “implemented the Chicago Principles” to “protect free speech on campus.” Failure to protect free expression would result in losing federal funding. 

• Implement a “competitive review process with enhanced transparency and
  “accountability” to determine Tri-Council grant recipients and “restore merit” by directing hiring practices associated with research funding “away from ideology.”  

• Create a chief scientist modelled on the Parliamentary Office of Science and Technology in the U.K. to advise the government and coordinate science policy nationally and internationally. 

• Create an independent Canada Education Transfer targeted at postsecondary education. It would be funded at a base level, to be negotiated with the provinces, and increase annually according to inflation and demographic growth. 

• Support a three-year prohibition on embryonic research and ensure the federal government “encourage[s] the granting agencies to focus on more promising adult (post-natal) stem cell research.” The party wants federal regulation in assisted human reproduction and related research that would “respect human individuality, integrity, dignity and life.” 

• Introduce income-contingent repayment for federal student loans following graduation.  

• Make interest on student lines of credit tax-deductible. 

• Build a system for recognizing international credentials by implementing equivalency exams, creating criteria for equivalent Canadian professional statuses and investing in bridging programs. 

New Democratic Party

The NDP, under leader Jagmeet Singh, would: 

• Match funding to the provinces and postsecondary institutions for the construction of affordable student housing. 

• Coordinate the allocation of study permits to postsecondary institutions that have a “credible and affordable” student housing plan. 

• Incentivize partnerships between businesses, nonprofits and postsecondary institutions to convert office spaces for dormitory-style student housing. 

• Forgive up to $20,000 of federal student debt. 

• Place a moratorium on student loan payments and give graduates five years before requiring initial payments. 

• Commit to working towards tuition-free postsecondary education. 

Bloc Québécois

The Bloc Québécois, led by Yves-Francois Blanchet would: 

• Redistribute federal research funding for more balance between regions. The BQ noted that 12 of Canada’s 15 largest research institutions are outside of Quebec.

• Reinvest in research and development to improve productivity and competitiveness given the global trade war.

• Support French-language research and publications.

• Provide funding for the province, colleges and universities for student housing initiatives.

• Collaborate with the province to narrow the parameters around international student immigration without compromising the regional university model.

• Promote freedom of expression and oppose censorship, the exclusion of public debate, and restrictions on topics discussed in public spaces, “particularly in universities, the media and legislative assemblies.” 

• Advocate for increased federal transfer to the provinces. The BQ believes education should be the area of exclusive provincial jurisdiction. 

The Green Party of Canada 

Co-led by Elizabeth May and Jonathan Pedneault, the Green Party would: 

• Cancel federal student loan debt and abolish tuition for postsecondary institutions. The party says this would cost $10.2 billion annually. 

• Budget $10 billion to support postsecondary schools with “mentorship, student-professor contact, inclusive policies and tenure-track hires.” 

• Double and triple the quotas for PhD and master’s scholarships, respectively. 

• Support postsecondary schools in minority-language communities. University Affairs

*******************************************************************************************************************************

The Government of Ontario launched a new round of the Hydrogen Innovation Fund, investing $30 million to unlock hydrogen’s potential to drive economic growth, create jobs and support the province’s position as a leader in the clean energy economy. The new fund will have double the budget of the $15 million 2023 fund and broaden eligibility criteria to include electricity grid-focused initiatives, as well as applications across other sectors, such as transportation. The Hydrogen Innovation Fund will do this by supporting projects across two streams:

• Projects with direct electricity system benefits, including the integration of low-carbon hydrogen into the electricity grid. Eligible projects would include hydrogen storage and generation, peaking generation capacity, supporting services, and long-term or seasonal storage of surplus renewable energy.
• Projects enabling broader energy and other sector applications, including transportation, manufacturing and heavy industry. Eligible projects would include hydrogen production and storage for non-electricity applications, switching existing hydrogen users to low-carbon hydrogen produced in Ontario, creating hydrogen hubs, or developing new methods to connect hydrogen producers with end-users. The 2023 Hydrogen Innovation Fund supported 15 hydrogen projects across Ontario that utilized hydrogen as a clean alternative fuel or used hydrogen to generate more electricity. Govt. of Ontario

The Quebec-based, federally funded Scale AI global innovation cluster announced up to $30 million in funding to support high-impact AI projects that will contribute to structuring and strengthening Canada’s position in the strategic sector. The funding is open to all Canadian companies. Priority will be given to initiatives that advance the commercialization of AI-driven products and solutions, with a particular emphasis on those that enhance productivity and deliver measurable value across supply chains. “Amid rising geopolitical volatility and persistent economic uncertainty, it is imperative that we act collectively to safeguard the competitiveness of Canada’s AI ecosystem,” Julien Billot, CEO of Scale AI, said in a statement. “With this $30 million envelope available as of today, Scale AI is reaffirming its commitment to advancing innovation and accelerating the adoption of AI across the country.” Project evaluation will follow Scale AI’s rigorous criteria: strategic relevance of the use case, technological excellence, anticipated economic impact, and the capacity to execute within ambitious timelines. All projects must be submitted within this year. Eligible organizations may receive reimbursements covering up to 40 percent of total project costs. Register here for the upcoming webinar. Scale AI

The Government of British Columbia cancelled the provincial carbon tax by introducing legislation to drop the rate to $0, effective April 1, 2025. The reduction of the tax to $0 is an immediate step to align B.C.’s carbon tax rate with the new federal carbon tax rate. The elimination of the carbon tax means people in B.C. will no longer be required to pay the consumer carbon tax, taking approximately 17 cents per litre off the cost of fuel and approximately 15 cents per cubic metre for natural gas on their home heating bill. The climate action tax credit, developed to help offset the impacts of the consumer carbon tax on people and families, will also be cancelled. The final payment will be distributed in April 2025. Cancelling the tax and the credit will have an estimated impact of $1.99 billion in the coming fiscal year. The B.C. government will continue to ensure big polluters pay through the B.C. output-based carbon pricing system. The system supports decarbonization efforts, incentivizing industry to lower their emissions to avoid paying the tax. Govt. of B.C.

RESEARCH, INNOVATION & COLLABORATION

University of Alberta researchers received $24 million in federal funding, from the New Frontiers in Research Fund, to develop functional “smart” clothing that can change its shape and stiffness to help people with varying physical needs like muscle weakness, injuries or other mobility challenges. The federal funds will go to the Institute for Smart Augmentative and Restorative Technologies and Health Innovations and Smart Technology Innovations (iSMART), which is working to develop the apparel. The project is led by principal investigator Dr. Vivian Mushahwar. “There’s a big need for this because about 25 per cent of Canadians have musculoskeletal weakness. And right now, the interventions that are available are not as completely helpful for their needs,” she said. Primary technical co-investigator of the project, Dan Sameoto, explained that the technology revolves around making “smart” fibres. Doing so involves 3D printing a preform made up of multiple materials that “can all be combined into a single, complex structure and can then be drawn down using heat, just like taffy, and pulled into these exceptionally fine fibres,” Sameoto said. “We’re able to have different functionality of each subsection of the fibres that would act either as an artificial muscle, stiffness switching actuator, sensor, possibly even batteries in the future, but these will provide us all the intelligence within the fabrics themselves.” The idea for the garment manipulation came to Sameoto from the first instalment of Christopher Nolan’s Batman trilogy, Batman Begins. As Batman or Bruce Wayne, played by Christian Bale, assembles his suit, he’s shown a piece of cloth that, when an electric current is applied, can change its stiffness. Edmonton Journal

The University of British Columbia (UBC) unveiled Canada’s first purpose-built biomedical engineering facility – the Gordon B. Shrum Building that will serve as the new home for UBC’s School of Biomedical Engineering. The $139.4-million project was funded through $25 million from the Government of British Columbia, $114.4 million from UBC, and more than $30 million in philanthropic support for the school from donors, including the Gordon B. Shrum Charitable Fund, the Conconi Family Foundation, United Therapeutics Corporation, Dr. Jim McEwen, and Paul and Nicole Geyer. The five-storey, 158,000-square-foot facility includes specialized labs, collaborative research spaces and teaching facilities designed to advance innovation in areas such as artificial intelligence-driven diagnostics, medical devices and lifesaving treatments. The facility includes:

• Biomechanics Labs, where robots and machinery are used as part of crash-testing research to help develop new ways to prevent serious trauma from falls, sports and vehicle accidents. 
• The Conconi Family Biodevice Foundry, a first-of-its-kind facility in Western Canada that provides tools for designing and testing medical devices. 
• State-of-the-art digital labs, where researchers are using the power of AI to improve diagnostic accuracy to enhance treatment outcomes, helping doctors detect diseases earlier and with a greater degree of accuracy.
• Wet labs with specialized equipment and advanced microscopes, where researchers are working in fields such as stem cell engineering to better understand diseases like cancer and diabetes. 
• The Jim McEwen Zone for Innovators, Creators, and Entrepreneurs – supported by UBC double alumnus Dr. Jim McEwen – a space equipped with 3D printers, prototyping tools, and electronic testing equipment, where students and researchers can prototype and develop new medical technologies. UBC

The Canadian Nuclear Safety Commission (CNSC) decided to issue a power reactor construction licence to Ontario Power Generation Inc. (OPG) to construct a U.S.-designed 1 General Electric Hitachi BWRX-300 small modular reactor at OPG’s Darlington New Nuclear Project site in Clarington, Ont. The power reactor construction licence is valid until March 31, 2035. The licence includes four facility-specific licence conditions that, along with the standard licence conditions, will enable effective regulatory oversight of the licensed activities. The CNSC concluded that OPG is qualified to construct the reactor and will do so in a way that protects the health and safety of people and the environment. In making its decision, the CNSC said it carefully considered all submissions and perspectives received during a two-part public hearing held virtually on October 2, 2024, and in person in Ajax, Ont. on January 8 to 10, 13 and 14, 2025. During those hearings, the CNSC heard concerns from intervenors that GE-Hitachi hadn’t yet finished designing the reactor, raising questions about how its safety could be analyzed properly. In its decision, the CNSC further concluded that it had fulfilled its constitutional responsibility to consult and, where appropriate, accommodate Indigenous rights in respect of its decision. Authorization to actually operate the reactor would be subject to a future CNSC licensing hearing and decision, should OPG come forward with a licence application to do so. OPG has said it will finish building the 327-megawatt reactor by the end of 2027 and begin supplying electricity to the province’s grid the following year. CNSC

See also: Canada set to be a world leader in building the next generation of nuclear reactors, industry experts say

Building new nuclear reactors in Canada is not the solution to the climate crisis

Candu Energy Inc., an AtkinsRéalis company, announced it signed agreements with eight suppliers that accounted for over $700 million of orders in 2024 and nearly $500 million year-to-date. Candu Energy said it selected these preferred vendors because they have consistently delivered excellence over the years and have been crucial to Candu Energy's ability to deliver on-time and on-budget refurbishments and life extensions of six aging Candu reactors in Canada and around the world. Candu Energy has contracts to refurbish 11 more reactors. The company also aims to build new Candus at Ontario’s Bruce Station on the eastern shore of Lake Huron, or at Wesleyville, a plant proposed by Ontario Power Generation in Port Hope. The eight companies are:

• BC Instruments
• BWXT
• Celeros
• ES Fox
• Niagara Energy
• NWI Precision
• Senior Flexonics
• Velan

AtkinsRéalis

Offering about US$250 to peer reviewers to compensate them for their time and expertise speeds up the process without affecting the quality of the reviews, according to new research. Journal editors now find it harder to secure reviews and some scientists have questioned the fairness of their voluntary labour being relied upon by some highly profitable publishing companies. In a six-month experiment led by David Maslove, a clinical scientist at Queen’s University, editors at the journal Critical Care Medicine asked 715 researchers to review papers. The journal offered roughly half of them a US$250 incentive. About 53 percent of researchers accepted the invitation to review when offered payment, compared with 48 percent of those who received a standard, non-paid offer. On average, paid reviews came in one day earlier than unpaid ones. Maslove said the small size of the effect suggests that money has a limited effect on motivating peer reviewers to change their behaviour. A separate experiment at the journal Biology Open found a larger effect, albeit with fewer reviewers. For six months starting in July 2024, editors covering two of the journal’s 10 subject areas treated reviewers as paid contractors under two systems. Reviewers were either offered a £600 (US$776) retainer to review up to three papers per quarter, or were paid £220 per review. Editors would send freelance reviewers an invitation to review, which they had to accept or decline within one business day. Once accepted, the reviewer had four days to submit their peer-review report. A total of 20 manuscripts were reviewed in this way. The average turnaround time for paid reviews was 4.6 business days, compared with 38 days for unpaid reviews. Editors found no difference between the quality of paid and unpaid reviews. The Biology Open experiment was so successful that the journal is now rolling out the system to all subjects covered by the journal. However, Balazs Aczel, a psychologist at Eötvös Loránd University in Budapest, cautioned that a paid peer-review system could incentivize researchers to maximize the number of reviews they complete, which could lead to a drop in the quality of reviews and the time dedicated to their own research. Nature

See also: The dilemma in scientific literature: “An essential ocean of knowledge, in which floats an alarming amount of junk”

The federal government is misguided in using $240 million in funding, from the Strategic Innovation Fund, to subsidize a data cente to be built by U.S.-based Coreweave with Toronto-based AI developer Cohere being an anchor customer, said John Ruffolo, founder and managing partner at Maverix Private Equity. “So, basically all of the dollars land in the coffers of a U.S.-based company and the Canadian connection is simply that a Canadian company gets to use the service paid for by taxpayers. How exactly does this help pave the way for Canadian wealth and prosperity?” Ruffolo said in a post on LinkedIn. Canada needs to be strategic about which industries the country will play in and support, and an AI compute strategy is strategic, he said. Cohere is a great example of a company to support, he added. “However, AI Data sovereignty is not advanced when all the dollars go to a U.S. company,” Ruffolo said. Why not use Canadian taxpayer dollars to help support a Canadian AI data centre player (there are several choices available)? he asked.  Yet Canada is supporting the launch of Coreweave’s expected initial public offering that will compete against Canadian players, Ruffolo said. “How does this make any sense to our long-term prosperity?” Branch plant thinking is what has led Canada to a massively declining GDP per capita over the past decade, he said. Ruffolo on LinkedIn

The U.S Defense Advanced Research Projects Agency (DARPA) named Xanadu in Toronto, Photonic in Vancouver, and Sherbrooke, Que.-based Nord Quantique among the 18 firms that will start the agency’s Quantum Benchmarking Initiative (QBI). Under QBI, the companies will in the six-month Stage A characterize their unique concepts for creating a useful, fault-tolerant quantum computer within a decade. QBI is designed to rigorously verify and validate whether any quantum computing approach can achieve utility-scale operation – meaning its computational value exceeds its cost –by the year 2033. The companies are pursuing a variety of technologies for creating quantum bits (qubits) – the building block for quantum computers – including superconducting qubits, trapped ion qubits, neutral atom qubits, photonic qubits, semiconductor spin qubits, and other novel approaches. Companies that successfully complete Stage A will move to a yearlong Stage B, during which DARPA will rigorously examine their research and development approach, followed by a final Stage C where the QBI independent verification and validation team will test the companies' computer hardware Companies that make it all the way through could get up to US$300 million each in DARPA funding. DARPA

Markam, Ont.-based space tech company NordSpace Corp. which is building launchers and its own Canadian spaceport, unveiled its Supersonic and Hypersonic Applications Research Platform (SHARP). SHARP is intended to serve clients wanting to fly high-altitude and high-speed missions for research including defence research, rather than sub-orbital and orbital space flights that would use NordSpace’s Taiga and Tundra rocket boosters. To support SHARP, NordSpace has conceived of two new vehicles. The first is the SHARP Arrow, a reusable fixed-wing, rocket-powered, uncrewed aircraft that can take off and land on a standard airport runway. The second vehicle is the SHARP Sabre, a modified version of the company’s suborbital Taiga rocket that has been updated to achieve hypersonic speeds with larger payloads on board. NordSpace plans to launch its first SHARP Arrow in late 2026 and the first SHARP Sabre a year after that. NordSpace hopes to be able to launch the Sabre from its “Spaceport Canada” launch facility in St. Lawrence, Nfld. The company is also working on other strategic sites closer to Canada’s Arctic for the SHARP vehicles. NordSpace

Vancouver-based seabed mining firm The Metals Company has formally initiated a process with the U.S. National Oceanic and Atmospheric Administration (NOAA) to apply for exploration licences and commercial recovery permits under U.S. legislation. The company said it has met with officials in the White House and U.S. Congress “and is encouraged by interest in the role deep-sea minerals can play in securing America’s supply chain.” Gerard Barron, chairman and CEO of The Metals Company, said the firm has invested over half-a-billion dollars over the last decade to responsibility develop the mineral nodules resource in the company’s contract areas. The company’s parent firm, TMC USA, expects to submit applications to NOAA in the second quarter of 2025. The move would potentially bypass the UN-affiliated International Seabed Authority (ISA) which has the power to authorize exploration permits but has yet to do so. “It would be a major breach of international law . . . if the U.S. were to grant it,” said Duncan Currie, an international and environmental lawyer and legal adviser to the Deep Sea Conservation Coalition, a Netherlands-based alliance of environmental groups. However, the U.S. is not a member of the ISA and hasn’t ratified the UN Convention on the Law of the Sea, which established the organization. More than 30 countries including Canada have called for a ban, pause or moratorium on deep-sea mining, and companies including Volvo, BMW, Volkswagen, Google and Samsung have pledged not to use seafloor minerals. The Metals Company, BNN Bloomberg

The Canadian Meat Council (CMC) launched the Protein PACT sustainability framework for the Canadian meat processing sector. This initiative aims to enhance sustainability practices across the industry, aligning with global standards while addressing critical issues. The Protein PACT, developed by the U.S. based Meat Institute, is a partnership uniting stakeholders across the animal protein industry to accelerate progress toward global sustainable development goals, focusing on people, animals, communities and the environment. By bringing the Protein PACT to Canada, CMC members will be able to collaboratively and pre-competitively advance the sustainability of the animal processing sector. By adapting this framework for Canada, the CMC said it is empowering Canadian meat processors to collaborate on shared sustainability goals and work together to improve North American-wide practices. CMC

Microsoft Corp. has pulled back on data centre projects around the world, suggesting the company is taking a harder look at its plans to build the server farms powering artificial intelligence and the cloud. The software company has recently halted talks for, or delayed development of, sites in Indonesia, the U.K., Australia, Illinois, North Dakota and Wisconsin. It’s uncertain how much of Microsoft’s data centre pullback reflects expectations of diminished demand versus temporary construction challenges, such as shortages of power and building materials. Some investors have interpreted the signs of retrenchment as an indication that projected purchases of AI services don’t justify Microsoft’s massive outlays on server farms. Microsoft said it remains committed to spending about $80 billion building out data centres in its fiscal year that ends in June. BNN Bloomberg

Google’s artificial intelligence arm DeepMind has been holding back the release of its world-renowned research, as it seeks to retain a competitive edge in the race to dominate the burgeoning AI industry. The group, led by Nobel Prize-winner Sir Demis Hassabis, has introduced a tougher vetting process and more bureaucracy that made it harder to publish studies about its work on AI, according to seven current and former research scientists at Google DeepMind. Three former researchers said the group was most reluctant to share papers that reveal innovations that could be exploited by competitors, or cast Google’s own Gemini AI model in a negative light compared with others. Among the changes in the company’s publication policies is a six-month embargo before “strategic” papers related to generative AI are released. Researchers also often need to convince several staff members of the merits of publication. The changes represent a significant shift for DeepMind, which has long prided itself on its reputation for releasing groundbreaking papers and as a home for the best scientists building AI. Financial Times

Apple Inc. was hit with a 150 million euro ($162.4 million) fine by French antitrust regulators for abusing its dominant position in mobile app advertising on its devices via a privacy control tool. The fine – the first by any antitrust regulator over Apple's App Tracking Transparency (ATT) tool – comes a year after the European Union hit the company with a 1.8 billion euro antitrust fine for thwarting rival music streaming services on its App Store. The ATT tool lets iPhone and iPad users decide which apps can track their activity. Digital advertising and mobile gaming companies complained it made it more expensive and difficult for brands to advertise on Apple's platforms. Apple said France’s Authorité de la Concurrence had not spelled out how Apple should change its app, but that it was up to the company to make sure it now complied with the ruling. The compliance process could take some time because Apple is waiting for rulings on regulators in Germany, Italy, Poland and Romania who are also investigating the ATT tool. Reuters

VC, PRIVATE INVESTMENT & ACQUISITIONS

CIBC Innovation Banking provided $10 million in debt financing to London, Ont.-based Sedna Communications Ltd., which makes software for maritime businesses. Sedna’s AI-powered workflow automation platform helps maritime and supply chain businesses extract important data from emails – the primary mode of communication in the industry – to streamline and consolidate business decisions. The funding will drive AI innovation, expand platform integrations and support sustainable growth to better serve Sedna’s customers, CIBC said. CIBC Innovation Banking

Amazon invested in Toronto-based rare earth elements recycler Cyclic Materials’ Series B round. The companies didn’t disclose the value of the investment. Cyclic Materials said the investment will further support the expansion of the company’s innovative recycling technologies, strengthening the circular supply chain for critical materials used in data centres and other industries. InMotion Ventures, the investment arm of Jaguar Land Rover, invested $2 million in the round in January. Cyclic Materials

Toronto-based Ribbon AI Inc. raised US$8.2 million in new funding from Radical Ventures, with participation from Social Leverage, Cadenza Ventures, and GD1. Ribbon is the first AI-powered hiring platform designed to streamline the hiring process while keeping it fair, efficient and, most importantly, human. The company’s platform conducts screening interviews for enterprises, helping employers quickly identify top talent while ensuring a candidate-first experience. Ribbon said it will use the funding to develop new products and expand its team. Torys

Montreal-based medtech startup Vopemed raised $2.29 million in pre-seed funding to accelerate the development and clinical validation of its technology. The round was led by Genson Capital Inc., which invested $1.5 million, and Investissement Québec, as a mandated agent of the Québec government, which contributed $750,000. Vopemed is developing Claris, an AI-driven image enhancement software designed to improve the clarity of laparoscopic and robotic-assisted procedure video feeds in real-time, leading to safer surgeries. Vopemed said the funding will expand R&D, refine its software for broader clinical applications and strengthen partnerships with hospitals and surgical teams. Vopemed

Agricultural biotech company AdvancedAg, based in Raymond, Alta., secured $2 million in seed funding from Raven Indigenous Capital Partners. Raven, which invests exclusively in Indigenous enterprises, was the lead and sole participant in the all-equity seed round. AdvancedAg delivers data-driven solutions that enhance soil health while increasing farm profitability. AdvancedAg will use the funding on research and development, creating intellectual property and expanding market access, the company said, adding that it is positioned to bring its products to more farms across North America. AdvancedAg

Brampton, Ont.-based MDA Space announced an agreement to acquire Israel-based satellite chipsets maker SatixFy in an all-cash share transaction worth US$193 million. MDA Space said the transaction is expected to further enhance its end-to-end satellite systems offering as demand for next-generation digital satellite communications continues to accelerate. SatixFy’s technology enables satellite broadband and direct-to-device constellations with its radiation-hardened digital beamformers enabling them to generate hundreds of beams, designed to significantly improve satellite performance and decrease cost. MDA Space

Victoria, B.C.-based technology holding company Tiny Ltd. has agreed to acquire a 66-percent interest in Serato Audio Research Limited, a global DJ software company based in Auckland, New Zealand. Tiny agreed to pay a combination of cash and Class A common shares in the capital of Serato, in a deal worth US$66 million. The acquisition is expected to close in the second quarter of 2025, subject to regulatory approvals. Tiny Ltd.

Toronto-based Kensington Capital Partners acquired Ottawa-based national security investment business ONE9, for an undisclosed amount. Upon completion of the transaction, all of ONE9’s future investment activities, including new funds and new direct investments, will be completed exclusively within Kensington. Kensington also will take a minority stake in ONE9 Capability Labs, which provides advisory services to portfolio companies and other national security firms. Kensington said the acquisition establishes the company as a market leader for investments in national security technologies, including cybersecurity, as well as dual use and defence-first technologies. BusinessWire

REPORTS & POLICIES

Public Health Agency of Canada offers a collaborative vision for public health surveillance

The Public Health Agency of Canada (PHAC) released a collaborative vision for public health surveillance in Canada by 2030.

PHAC, in a report titled Vision 2030: Moving data to public health action, envisions an “adaptable and collaborative public health surveillance ‘system of systems’” able to provide timely insights for actions that improve health and reduce inequities for all people in Canada.

The report describes the desired states and the characteristics of a high-functioning public health surveillance system of systems, a coordinated collection of surveillance systems and programs that provide information about the same population for the purpose of informing public health action.

This system of systems would have a clear purpose and governance, inclusive partnerships, a well-supported workforce, integrated health information and operational efficiency. The system of systems is intended to be agile, resilient, adaptable and informed by those who use and are impacted by public health information to ensure that the data being collected are accurate and representative.

The report also highlights several existing initiatives by public health partners to address persistent challenges communicated by public health practitioners across the country.

The vision identified opportunities for:

• governance structures that enable authorized access to high-quality, timely surveillance data.
• strengthening relationships between public health surveillance partners and the communities they serve.
• supporting Indigenous data sovereignty and the development of culturally relevant and resourced health systems.
• creating a well-equipped workforce.
• modernizing data and data-sharing infrastructure.

“Through progress on these opportunities for action, advances can be made toward a resilient public health surveillance system of systems capable of informing public health action in the context of the evolving public health needs of people residing in Canada,” the report says.

PHAC produced the report based on input from about 1,800 participants across the county, guidance from an expert roundtable, and input from many professionals working at PHAC and partner organizations.

The report follows recommendations in a report (the “Walport report”) last October by a federal advisory group that Canada’s public health surveillance systems should adequately support real-time assessment of public health security.

Strong action by and collaboration between all levels of government is required to address Canada's longstanding and increasingly urgent need to put in place health data systems that are capable of alerting the country to an emerging threat, and enabling the most effective response to it, said the Expert Panel for the Review of the Federal Approach to Pandemic Science Advice and Research Collaboration.

The panel heard that during the COVID-19 pandemic, surveillance data were incomplete and not consistently available to the public health officials, researchers and relevant groups who required them. Since many jurisdictions didn’t collect demographic information, they didn’t know which segments of the population were disproportionately impacted.

The panel consistently heard about Canada’s “fragmented data system,” including challenges in collecting and accessing both public health and health care data, which are essential for important research, scientific advice and health delivery.

A separate report last November, by the Alberta Virtual Health Care Coordinating Body, found that health data governance and policy have significant shortfalls that impair health care delivery in Canada and cause data-related harm.

Outdated, misaligned or absent health data public policy – across and within jurisdictions – is perpetuated by the lack of a mechanism or accountability to adopt harmonized and purpose-designed health data public policy that upholds quality health programs and services, the report said.

Canada does not have a single, unified public health surveillance system, PHAC’s vision report notes.

Instead, local, provincial, territorial, federal, Indigenous, and non-governmental public health organizations operate numerous independent surveillance systems with varying degrees of connectivity between them in keeping with factors such as their respective objectives, legislation, data availability, and the context in which data is collected. 

Technological advances have also changed how public health surveillance is conducted, the report says.

Improved access and linkage of electronic health records and health administrative databases allow for enhanced analysis of factors unavailable from existing syndromic and chronic disease surveillance, improving insight and understanding of national trends.

Genomic sequencing has become a standard practice in infectious disease monitoring, offering valuable insights into pathogen evolution, transmission dynamics, antimicrobial resistance, and informing vaccine development and targeted public health interventions.

The “big data” from social media, personal “smart” devices and other sources may now be analyzed using artificial intelligence and machine learning, offering new opportunities for early detection and response to emerging health threats.

“New global frameworks and technologies are transforming international data sharing and real-time global analysis to enhance global health and biosecurity,” the report says.

The report describes several opportunities for improving public health surveillance, including:

• Develop and share governance frameworks, including example data sharing agreements, which can be adapted by surveillance programs to clearly describe roles and alignment with public health goals.
• Adapt and develop public health surveillance systems to routinely collect, incorporate and analyze data on social determinants of health to deepen the understanding of health inequities across specific populations and enable targeted actions that expand access to opportunities and create environments supportive of health for all.
• Build trust with community leaders and organizations as the foundation of meaningful partnerships for public health surveillance.
• Create the conditions to implement First Nations, Inuit, and Métis health data sovereignty by working together with Indigenous health monitoring experts to advance effective health information systems.
• Enhance the capacity for public health surveillance by First Nations, Inuit, and Métis communities in a manner that recognizes and builds on their existing strengths while in turn expanding First Nations, Inuit, and Métis expertise in public health assessment and response throughout the public health surveillance ecosystem.
• Solidify commitment to First Nations, Inuit, and Métis streams of public health assessment and response to wellbeing, including the development of distinctions-based health information systems, infrastructure, and indicators.
• Support public health workforce development to improve access to training opportunities including in rural and remote communities and populations, and support a modernized, skilled and diversified public health surveillance workforce.
• Enhance interoperability among surveillance data systems, devices and programs across jurisdictions and local partners by establishing collaboratively developed data standards.
• Review and revise existing mechanisms for data sharing and linkage, both legal (such as legislation and multilateral agreements) and technological (such as protocols for automated data exchange), to encourage agile and responsible use of granular data to address health inequities.
• Continue to modernize, maintain, and upgrade data infrastructure (for example, with innovative technology with proper updates and maintenance) to transform surveillance processes across public health partners.

What isn’t in PHAC’s vision report are specific strategies and mechanisms for pursuing these opportunities, including the next steps PHAC will take to implement the “strong action by and collaboration between all levels of government” recommended in the Walport report.

Canada is in a position to build one of the most valuable health databases in the world that could be harnessed for applications like clinical trials and AI, according to an op-ed published in The Globe and Mail.

“With 40 million people, unified Canadian health data would be one of the best resources for R&D globally,” wrote internist Fahad Razak, Canada Research Chair in Data-Informed Healthcare Improvement at St. Michael’s Hospital and the University of Toronto and Amol Verma, an internist and the Temerty Professor of AI Research and Education in Medicine at the U of T.

“The market opportunities are massive,” they said. Over the next 10 years, global spending on clinical trials will exceed US$150 billion, and the global health care IT market is projected to be worth US$1.4 trillion by 2034. 

However, they pointed out that Canada’s share of clinical trials dropped by 50 percent from 2010 to 2022, reflecting $2-billion of lost investment annually.

“A major reason is because other countries [including the U.K., Denmark and Israel] are harnessing their health care data and working with the private sector.”

Of 86 randomized trials completed around the world in health AI between 2018 and 2023, only one was conducted in Canada – “the common barrier is the lack of access to health data for R&D.”

The only winning strategy, Razak and Verma said, “is to capitalize on the intrinsic strengths that make Canada uniquely competitive: its population, its data and its talent.” PHAC

*******************************************************************************************************************************

Federal government releases National Quantum Strategy roadmap for quantum computing

The Government of Canada released a National Quantum Strategy roadmap aimed at making Canada a world leader in the continued development, deployment and use of quantum computing hardware and software.

The roadmap charts a course forward for the quantum computing hardware, software, algorithms and applications mission under the National Quantum Strategy, launched in 2023 with $360 million in dedicated funding.

Forecasts anticipate that quantum computing hardware and software will account for up to US$68 billion globally by 2030, according to the roadmap.

“Canada is well-placed to be a key player due to trusted world-class expertise across the country, comprising a growing ecosystem of universities [and] industry pioneers along with startups, service providers and larger domestic and multi-national firms including regional quantum hubs in Alberta, British Columbia, Ontario and Quebec,” the roadmap says.

Canadian researchers and companies are at the forefront of the international race to build a scalable, high-performance, fault-tolerant quantum computer. Canadian firms have developed quantum computing systems and algorithms with the potential to solve challenges that are too complex, costly or time-consuming to solve with conventional technologies.

“Developing a strong Canadian quantum software and service industry is critical as well,” the roadmap says.

Canadians are leaders in developing software to control quantum computers and link them to classical computer systems and creating applications that make these systems useful.

This advantage could benefit Canadians by transforming a number of sectors, such as making supply chains more efficient, modelling climate change, developing new materials and drugs, and more, the roadmap says.

“Early-stage quantum applications are already being implemented, supporting industry awareness and demonstrating potential applications that will drive industrial progress and further promote the quantum sector.”

To develop components of a quantum computer and secure the supply chain, the roadmap identifies these priorities:

• develop quantum computing hardware, including hybrid parallel processing systems, simulation and modelling of quantum hardware.
• develop new quantum algorithms and advance quantum computing software.
• identify and alleviate supply chain and infrastructure challenges and develop domestic manufacturing capacity.
• provide access to multiple quantum computing platforms including annealing and gate-model quantum computing systems and various qubit modalities.

To increase adoption of quantum computing technologies by receptor sectors, these priorities need to be advanced:

• develop proofs of values and use cases, linking producers with end-users to support adoption.
• consider ways of offsetting research and development and integration costs and accelerate testing and development of commercial applications.
• develop quantum resource estimations, benchmarks and standards.

To support the quantum computing ecosystem in general, it is crucial to focus on these priorities:

• strengthen the talent pipeline.
• promote Canadian quantum computing science, technology and industry domestically and internationally.
• address barriers to growth for Canadian quantum computing and software companies
• identify societal impacts and develop an ethics framework.
• protect intellectual property and improve the security posture of Canadian researchers and innovators.

The roadmap points out that there are several programs and initiatives across the federal government that are already supporting the quantum computing mission:

• Innovative Solutions Canada launched a call to develop a dilution refrigeratorin support of quantum computing technologies and a call to test pre-commercial quantum computing prototypes in 2022
• the National Research Council launched an Applied Quantum Computing Challenge programto build on Canada's position as a global leader in applied quantum computing
• the Natural Sciences and Engineering Research Council of Canada announced $51 million in awards to 75 recipients in quantum science and technologythrough the Alliance and Collaborative Research and Training Experience programs.
• the Bank of Canada is collaborating with Canadian and international quantum researchers, the public sector, and industry through the Partnerships in Innovation and Technology (PIVOT) program.
• CIFARsupports academic research, training, and knowledge mobilization, through its Quantum Information Science and Quantum Materials programs, and CIFAR Azrieli Global Scholars There have been 19 Global Scholars affiliated with CIFAR's two quantum research programs since 2016.
• the Department of National Defence and Canadian Armed Forces released its Quantum Science and Technology Strategy Implementation Plan, Quantum 2030, in 2023. It identified four promising quantum technologies with defence and security applications and laid out a seven-year plan to develop prototypes, including in quantum computing (quantum algorithms for defense and security) ready to be tested in the field by 2030.

There are many quantum computing platforms under development, each advancing at a different speed and technology readiness level, the roadmap says.

Given the current level of development, it is not yet clear which platforms will produce a fault tolerant quantum computer. “As such, government programs will be inclusive of different hardware and software approaches.”

Exploiting the full benefits of quantum computing will require interconnected systems of quantum and classical computers, to make use of what each type of system does best and to make it easy for users to access quantum computers in a trusted and private way, the roadmap says.

This parallel processing will require research and development of novel algorithms or techniques to pass information between the classical and quantum processors, or interconnects and hardware.

The roadmap notes that quantum computing has several challenges:

• There is limited domestic industry supporting the quantum computing supply chain, such as superconducting chip fabrication, dilution refrigeration manufacturers for at-scale systems and other components.
• The development of quantum software faces additional hurdles, such as super-polynomial speed-up for simulating error correction codes. “Ultimately, advancing quantum software is critical in developing applications that drive adoption, thus increasing demand for hardware and the rest of the quantum computing supply chain.”
• Developing a quantum computer may require materials (such as the helium-3 isotope) or components that may either be unavailable or prohibitively expensive. In many cases, these materials and components are not currently produced in Canada or are not produced at sufficient levels to meet demand.
• Current gate-model hundred-qubit quantum computers require a dramatic scale up to potentially millions of qubits to solve certain problems. Although a variety of qubit technologies have been demonstrated, scalability remains a major hurdle.
• Widespread adoption of quantum computers will require addressing all parts of the systems, especially the packaging challenge of larger and more complex Quantum Processing Units (QPUs), ensuring that quantum systems or subsystems can be purchased and used reliably.

For quantum computing, the roadmap’s objectives in the long term (7+ years) are to:

• develop a 1,000,000+ physical qubits quantum computer.
• achieve quantum error correction of 100 to 1,000 qubits to one logical qubit.
• develop a quantum computer (gate-model and annealing) with 100 logical qubits
• develop 100-way inter-qubit connectivity.
• establish a fabrication ecosystem built around the anchor companies producing key quantum computing components in Canada.

The roadmap also includes several short-term (within three years) and medium term (three to seven years) actions that provinces submitted, including:

• British Columbia – Create a quantum testbed to enable B.C. companies working on computing, networking and the delivery of quantum computing products and services to test end-chain implementation and demonstrate real-world use of quantum computing and networking solutions.
• Quebec – Establish a dedicated state-of-the-art qubit fabrication facility at the Centre de Collaboration MiQro Innovation in Bromont, Quebec, the largest microelectronics R&D centre in Canada.

As for potential use cases for quantum computing, the roadmap lists several examples, including:

Manufacturing

• Materials design: improved materials for automotive, aerospace and microelectronics.
• Battery design: new high-capacity batteries through a better understanding of chemical reactions using quantum simulations.
• Optimizing manufacturing operations: improved processes that can reduce the use of “forever chemicals,” enhance manufacturing and distribution, reduce emissions and cut waste.

Banking and financial services

• Fraud detection and risk profiling. 

Healthcare and life sciences

• Diagnostic assistance: improve analysis of medical images and complex biomarker data, leading to more accurate diagnoses and treatment planning.
• Drug discovery: efficiently simulate molecules to develop new drugs more quickly.

Transportation and logistics

• Operations: improve operations at ports of entry or in transportation networks emergency response and other logistics problems, including in defence.

Agriculture

• Enhanced crop management.
• More efficient and less environmentally harmful fertilizers and pesticides.

Natural resources, energy and climate change

• Seismic imaging: aid resource exploration by analyzing seismic imaging data.
• Refining processes: development of mineral extraction and refining processes may be accelerated through chemical simulations.
• Grid optimization: improve electrical grid predictability, provide climate and weather modelling, and increase renewable energy use.

Emergency management and defence

• Environmental emergency response: enhance weather modeling for better predictive analytics and optimize earth observation satellites to assist with wildfire management.
• Shift scheduling: solutions for complex scheduling, including for emergency responders and medical staff.
• Military: enhance military decision-making, mission-planning, cyber operations and targeting.

For use cases, the roadmap’s long-term (7+ years) objectives are to:

• establish quantum resource estimates for all use cases.
• develop a suite of applications showing quantum advantage (computational, cost and/or energy) in commercial processes for gate-model and quantum annealing systems.
• develop and adopt industry standards.
• increase adoption of quantum computing technologies and applications by leading organizations in key sectors and government.

The roadmap notes that it will be critical for Canada to invest in developing and retaining quantum expertise, as well as accessing global pools of talent. “Being internationally competitive on student, postdoctoral and industry compensation and the work environment will be key.”

The funding support offered by several federal innovation programs is much shorter than the time needed to develop quantum computers, the roadmap says.

In other cases, program requirements (such as the number of employees, years since incorporation, or revenue thresholds) make it challenging to support early-stage entrepreneurs. As well, many programs are tailored towards providing loans rather than grants, which is challenging for startups.

Consideration of longer funding duration, follow-up investments, cash advances and more flexible program requirements would better support the development of quantum technologies, the roadmap says.

Access to funding through other Canadian sources, such as venture capital, angel investors, business incubators and other forms of private equity, is critical to building a vibrant quantum ecosystem and is the largest source of funding for quantum companies.

“Without sufficient funding from startup to scale-up, there is a risk that Canadian quantum companies will be acquired by foreign companies, leading to a loss of intellectual property talent and returns to other countries.”

Encouraging Canadian quantum innovators to protect and hold the rights to their intellectual property assets will stimulate growth, encourage innovation, attract investment and protect their businesses, the report says.

For supporting the quantum computing ecosystem, the long-term (7+ years) objectives are:

• ensure Canada has a strong talent pipeline that meets industrial needs and develops a competitive framework for the attraction, development and retention of talent.
• develop and maintain quantum training initiatives for continuous upskilling on new technology advancements.
• to better understand and leverage Canada’s assets, capabilities and strengths, establish coordination mechanisms across the Canadian quantum computing ecosystem and with international partners.
• ensure that Canada is a world leader in the global trade of quantum computing and software products and services.

Concludes the report: “Governments, academia, industry, non-profits and citizens must work together to succeed in achieving this [national strategy on quantum computing] mission.” Innovation, Science and Economic Development Canada

********************************************************************************************************************************

Calgary Economic Development releases innovation strategy to establish sector-specific nodes across the city

Calgary Economic Development (CED) released an innovation strategy with the goal of making Calgary “the innovation capital of Canada.”

The strategy aims to establish sector-specific innovation nodes across the city, launch an innovation roadmap, enhance the impact of the city’s innovation ecosystem and build alignment to share Calgary’s story locally, nationally and internationally. 

The nodes are concentrations of critical sector-specific innovation supports, with each node connected to the other nodes around the city.

“This means innovators in Calgary will have an established roadmap to guide them from startup to scale-up with access to assets and resources they need to thrive,” the strategy says.

The roadmap also would identify “innovation champions” to adopt the vision and act as liaisons between businesses and the innovation ecosystem, helping people navigate the system and gain access to the resources they need.

Successful implementation of the strategy is projected to add up to 187,000 jobs and contribute over $28 billion to Calgary’s economic activity by 2034.

The objectives of the strategy are:

• Support innovation in Calgary’s surrounding municipalities, leveraging regional economic development efforts to scale the size of opportunities.
• Focus on a comprehensive intellectual property strategy to support homegrown innovations.
• Expand regulatory sandboxes to incentivize prototyping and experimentation across all sectors.
• Structure the innovation ecosystem to contribute over $28 billion to Calgary's economic activity by 2034. 

“While we’re facing unprecedented levels of economic uncertainty due to tariffs and the ongoing trade dispute with the U.S., we need to focus on what’s within our control. Now is the time to double down on innovation and continue building a resilient economy for Calgary,” said Brad Parry, president and CEO of Calgary CED and CEO of the Opportunity Calgary Investment Fund (OCIF).

“With implementation of the innovation strategy, Calgary has the potential to be a globally recognized city of innovation and the innovation capital of Canada,” he said in a statement.

The strategy builds on data from CED’s 2021 Innovation District Scoping Study, which examined how global innovation districts thrive by clustering talent, investors, accelerators and startups.  

With a skilled talent pool and established innovation organizations, Calgary is uniquely positioned to expand beyond the traditional innovation model seen in most leading cities, CED said. Much of the work has already started with the creation of the Life Sciences Innovation Hub, the Energy Transition Centre and the Aerospace Innovation Hub. 

Entrepreneurs will find their gateway to the innovation scene through Platform Calgary, which remains a central access point for startups and new ventures, CED said.

“Because the global energy industry is morphing so fast, Calgary has an opportunity to connect and become competitive through collaboration between our other strong sectors like the ag industry, aerospace industry and tech industry,” said Kevin Krausert, CEO and co-founder of Avatar Innovations. 

According to the strategy:

• From July 2021 to December 2023, Calgary’s tech ecosystem added $8.1 billion in value to the Calgary economy, a growth of 83 percent over the last three years, higher than the global average of 46 percent.
• Calgary broke into the top 20 on CBRE’s Tech Talent ranking for North American cities in 2024 and was named the fastest-growing tech talent hub in North America with 78 percent growth over the last five years.
• The University of Calgary has further solidified the city’s innovation leadership, ranking first in Canada for startup creation for three consecutive years as of 2024.

Parry highlighted several innovation-focused achievements from the past year:

• CED created or retained more than 7,400 jobs and attracted $719 million in investments. 
• CED has generated more than 3,200 work-integrated learning opportunities and engaged almost 1,500 companies across Calgary. 
• Through the Trade Accelerator Program, over 130 Calgary small and medium-sized enterprises explored 17 markets, resulting in 42 trade deals and generating over $11 million in revenue. 
• Every dollar of the $86 million invested by OCIF since 2018 has generated $11 in economic activity, amounting to a $925 million impact. The fund has helped scale nearly 900 companies and create or retain close to 3,000 jobs. 
• Calgary was a top destination for venture capital investment, closing $630 million through 63 deals in 2024.

Calgary’s innovation ecosystem is at a critical stage where the city is starting to see significant success through the supports which have organically formed across the city, the strategy says.

By uniting under a common banner, Calgary can organize and structure its ecosystem to provide better support for both entrepreneurs and service providers, according to the strategy.

“Through the establishment of sector-specific nodes, we can take the existing resources in our city to strengthen our position and create an environment where innovation can thrive, and startups are supported throughout their commercialization journey.” CED

*****************************************************************************************************************************

Canada needs to leverage its postsecondary education system to its full potential to improve productivity: report

To improve productivity, Canada needs to eliminate barriers to institutional innovation, better target work-integrated learning and make it easier for Canadian businesses to invest in research, according to a report by RBC and the Business + Higher Education Roundtable.

Canada’s population is the most highly educated population in the G7 and above average across Organisation for Economic Co-operation and Development (OECD) countries, the report says. In 2024, about 63 percent of Canadians aged 25 to 64 had a postsecondary credential compared with an OECD average of 41 percent.

Yet Canada’s productivity not only lags the country’s peers but has worsened over the past decade even as the rate of higher education, including for new Canadians, has improved.

Regardless of education level, Canadians earn an average of eight percent less than their American peers, a gap that is wider in many professions. “This is one reason for a perennial migration – a brain drain – of people with advanced degrees to the United States and a loss to Canada, economically and otherwise.”

The differing costs and standards of living in the U.S. aside, Canada still only falls in the middle of the pack when looking at individual returns on investment from higher education compared with peer countries, the report notes.

Research has shown a positive relationship between a region’s economic health and the presence of higher education institutions, with an additional 0.4 percent in future GDP for every 10-percent increase in the number of universities per capita, according to the report.

This effect is driven by boosts to human capital and innovation, not just direct institutional and student spending.

However, the OECD has noted that “higher educational attainment does not always directly correspond with higher skills,” the report says.

Employer surveys consistently indicate that companies still have a hard time finding new hires with the skills they need, especially interpersonal and communication skills. “We also know that there is a growing gap in graduates’ technical skills related to artificial intelligence, cybersecurity and working with big data, all areas rapidly growing in importance.”

Postsecondary institutions’ finances are rapidly changing due to stagnating provincial government funding, restrictions or freezes on student tuition increases, and a federal immigration policy shift that has led to steep drops in international students and the significant revenue their higher tuition contributed to the bottom line, the report says.

“The postsecondary revenue crunch is likely to worsen without a reformed business model – one that is capable of responding to the demands of a changing economy.”

Amid the shaky and constrained financial picture for postsecondary institutions, academic programs that connect best with high-productivity industries are the most expensive to run, according to the report.

 Science, technology, engineering and mathematics (STEM) programs have been expanding over the last 30-plus years as labour market and student demands have shifted, from 18.3 percent of enrolments in 1992-1993 to nearly 26 percent in 2022-2023. But labs, computers and other equipment mean these programs cost at least twice as much as training for a humanities or business student.

If traditional revenue sources are no longer reliable, colleges and universities need to be freed – and encouraged – to develop fresh revenue streams, funding models and educational redesigns that make sense for them and the broader societal and economic needs they serve, the report says.

Canada lacks comparable data to assess outcomes of the country’s postsecondary systems and support linkages with labour market information, according to the report. “Countries such as the U.S. and Australia do a better job with postsecondary data tracking, enabling well-informed public policy discussions and change.”

Nearly 15 percent of Canada’s working-age population hold a graduate degree today – just below the share that held a bachelor’s degree in 1997, at 16 percent. But those degrees don't always lead to jobs that require them.

As a result, there’s a rising number of highly educated Canadians working in jobs that do not make effective use of their degree, the report says.

The OECD has ranked Canada as having the second-highest overqualification rate of 37 countries, with an overqualification rate of 10.6 percent for Canadian-born workers and 11.8 percent for Canadian-educated immigrants in 2023.

Fewer Canadian PhDs are working for private industry compared with the U.S., which may be partly tied to an economy that is still heavily resource-based and where Canada has lower levels of industry R&D investment that would demand PhD graduates’ skills.

Nevertheless, graduate students have relatively low levels of participation in work-integrated learning experiences and lack opportunities to demonstrate and apply their skills and expertise to Canadian firms that could benefit from them, the report notes.

“It’s worth asking whether the size and spread of Canada’s roughly 100 public universities and 200-plus colleges with associated campuses and 25,000-plus programs are aligned as well as they could be with the country’s most pressing needs and the challenge of creating a more productive economy.”

When it comes to international students, the report says that as Canada works to reduce and recalibrate this student pool, the country should focus on recruiting and educating high-quality international students with targeted workforce development in mind. 

The report also points out that not enough postsecondary programs encourage cross-pollination across disciplines.

Programs such as McGill University’s Bachelor of Arts and Science degree, which allows students to study disciplines in both faculties, the British Columbia Institute of Technology’s Bachelor of Creative Industries program that combines training in the arts, technology and business, and Langara College’s Environmental Studies program – blending biology, chemistry, English and geography – are promising examples of cross-disciplinary approaches, the report says.

“As enrolments continue to slide in humanities programs, postsecondary institutions must reimagine the core competencies the humanities provide to all students and how to extend that across subjects, disciplines and faculties in a world of growing STEM demand.”

Another problem is that Canadian companies are not making the most of postsecondary research output and are weak adopters of postsecondary research innovations, according to the report.

In 2022, Canada ranked 10^th globally in terms of scientific publications and is a global leader in specific fields, such as artificial intelligence. “But Canadian companies aren’t picking up the ball when it comes to making the most of made-in-Canada discoveries.”

The U.S., with a much better track record, benefits from a more robust ecosystem to support research translation into market applications, including venture capital funding, supportive public policies and an intellectual property framework that incentivizes researchers and postsecondary institutions to pursue commercialization.

All told, Canadian business investment in R&D was just 1.7 percent of GDP in 2022, putting Canada below the OECD average and well below highly productive countries like Israel (six percent), South Korea (5.2 percent) and the U.S. (3.6 percent). “Even in AI research, where Canada is a global leader, we lag peer countries in its commercial use.”

The report makes several recommendations, including:

• Eliminate barriers to institutional innovation – Postsecondary institutions in Canada require new business models that free them to be more entrepreneurial and in control of their financial destinies while remaining responsible and accountable to the people and communities they serve.
• Enhance the awareness and articulation of skills developed in post-secondary education programs – Prospective students and new graduates need to know the skills they will emerge with, allowing them to fairly evaluate whether a program is for them and to communicate these skills to employers.
• Get work-integrated learning to where it’s needed most – While Canada has made important strides in providing these opportunities, work-integrated learning (WIL) is not yet the norm – just under half of all postsecondary graduates in 2020 had experienced a WIL opportunity. There are also variations in uptake, with PhD students (18 percent) and those in the humanities (16 percent) less likely to have a WIL experience.

Most businesses in Canada are small and medium-sized enterprises (SMEs) and face more barriers than larger organizations to participating in conventional forms of WIL in terms of resources, time and risk. SMEs need shorter-term, more flexible and less resource-intensive forms of WIL that are aligned more closely with these businesses'  needs.

• Develop upskilling and reskilling opportunities – Too often Canada’s companies struggle to partner with postsecondary institutions and end up developing their own in-house training solutions. To do that well, higher education must stay on top of and respond to upskilling opportunities in their communities, partner with employers (and vice versa) to understand and respond to specific skills gaps and create programs that fit the working and personal lives of learners.

Continuing education departments are particularly well-positioned to do this. An opportunity also exists for governments to financially support and promote these programs, such as through tax and other incentives, as they look for policy responses to labour force disruption.

• Intensify the drive towards institutional differentiation – Canada has done an excellent job of providing access to public postsecondary education across a big country and into remote communities. But the country neither needs nor can afford to have every institution offering the same menu. Not every institution needs its own artificial intelligence research hub or history department.

Differentiation is critical, where public colleges and universities are encouraged to lean into the teaching, learning and/or research they are best at, and discouraged from unnecessary program duplication.

Differentiation might mean institutions that are focused on and excellent at teaching mostly undergraduates, such as members of eastern Canada’s Maple League of Universities, or that are highly research-intensive, such as the University of Toronto, or whose teaching and research are strongly aligned with key local industries, such as the country’s polytechnic institutes.

Differentiation can also happen through the business model an institution uses to sustain itself and remain relevant. It can be promoted through strategic mandate agreements negotiated between institutions and government funders.

Government research funding models can also encourage differentiation and build capacity by favouring institutional specialization, such as through the federal government’s Canada First Research Excellence Fund.

The growing financial sustainability crisis faced by colleges and universities makes differentiation a strategic imperative for each institution.

• Make it easier for Canadian businesses to adopt and invest in research – Canada’s postsecondary researchers are part of an innovation pipeline that includes Canadian businesses that can adopt researchers’ discoveries, commercialize, refine and run with them, boosting their own competitive edge.

But that pipeline is slowed by Canada’s fragmented regulatory and approval processes, at every level of government, which delay and complicate business investment decisions.

Streamlining those processes by implementing, for example, a harmonized federal-provincial environmental assessment process for projects of national strategic importance would speed up approvals and drive private sector investment into new major projects.

Canada’s outdated tax system is also in need of a comprehensive review with an eye to encouraging greater private sector investment in Canadian research and development.

The report also includes recommendations specifically for the federal government, provincial governments, postsecondary institutions, and employers.

“Postsecondary education is one of this country’s greatest strengths. But we’re not using it to its full potential and we’re not keeping pace with the rest of the world as a result,” the report concludes.

“Our productivity crisis is clear and urgent with direct impacts on the standard of living all Canadians can expect, including the graduates of tomorrow, especially in a global economy that is more divided and disruptive. Governments, institutions and employers must each play a role in bridging the gap.” RBC

********************************************************************************************************************************

Canada faces multiple hurdles in capitalizing on artificial intelligence and needs a framework for scaling and sustaining AI

Widespread adoption of artificial intelligence could boost Canada’s real GDP by five to eight percent over the next decade, driving annual productivity growth of 0.5 percent to 0.7 percent, according to report by Deloitte.

But despite Canada’s advantages, the country faces several systemic hurdles that threaten its ability to capitalize on the AI revolution, including sluggish business investment in technology, barriers to commercializing intellectual property, and a trust deficit on the part of Canadians, the report says.

The report introduces a comprehensive framework for scaling and sustaining AI in Canada, built around three imperatives:

• Define ambition with a relentless focus on value creation – Leaders must set clear, bold and strategic goals that align AI initiatives with organizational and societal priorities.
• Build trust by cultivating responsible AI, supporting AI literacy and fostering human-AI synergy – As organizations progress from experiments and pilot projects to fully integrated AI solutions, trust-building priorities should evolve from raising awareness and establishing basic ethical standards toward implementing a robust governance framework, increasing Canadians’ AI literacy and creating the conditions for optimal human-AI collaboration.
• Commit to AI for good by embracing equitable, sustainable AI – Leaders should champion equitable and sustainable AI practices to ensure inclusive growth and mitigate unintended circumstances.

Canada ranks ninth out of 33 countries best placed to benefit from AI and its effects over the coming decades, with its average rate of productivity growth forecasted to increase to around 1.5 percent per year during the 2030s, the report says.

However, AI adoption in Canada lags global counterparts – only 26 percent of Canadian organizations have implemented AI compared with 34 percent globally. Canada’s Global AI index ranking dropped from 4^th in 2021 to 8^th in 2024.

Despite a strong AI research ecosystem, commercializing AI applications remains challenging. Canadian innovators cite access to funding, venture finance, mentorship and markets as key factors contributing to the slower pace of business in Canada compared with countries like the U.S.

Canadian policymakers can set the country up for success by optimizing innovation policy, closing infrastructure gaps and streamlining procurement processes, the study says.

At the national level, policymakers should concentrate resources on priority sectors such as healthcare, primary industries (agriculture, mining, forestry) and financial services, where Canada has natural strengths and data advantages, according to the report.

Canada needs measurable targets for AI value creation to ensure investments yield economic and social benefits. For example, Europe’s Digital Decade framework for 2020-2030 sets targets that are measurable goals in priority investment areas, including digital transformation of businesses.

Trust in AI in Canada is 19 points lower than the global average, with only 31 percent of Canadians reporting that they trust AI.

AI governance frameworks should include oversight structures, ethical guidelines and accountability provisions to mitigate risks and align AI operations with legal and societal expectations, the report says.

Public education initiatives ae important to demystify AI, enhance its perceived benefits and address risks.

Training programs that emphasize timeless human skills (such as creativity and empathy) can help prepare workers for a productive coexistence in an AI-powered environment.

“Organizations that prioritize equitable AI can enhance public trust, build customer loyalty and achieve broader societal impact while mitigating risks.”

According to Deloitte Global analysis, data centres worldwide used more than 380 terawatt hours (TWh) of electricity in 2023 – accounting for about 1.4 percent of global electricity consumption and 0.34 percent of global greenhouse gas emissions.

By 2030, these figures are projected to nearly triple to about 1,000 TWh, or approximately three percent of worldwide power use.

“Leaders can adopt various tactics to embed sustainability in their AI operations,” the report notes.

Decisions surrounding AI are among the most consequential that Canadian leaders will make, the study says. “By addressing vulnerabilities, leveraging strengths and embracing a collaborative approach, the country can empower innovators, enable businesses to compete globally and tackle societal challenges – all with the help of AI.” Deloitte

THE GRAPEVINE – News about people, institutions and communities

The Council of Canadian Academies (CCA) announced the appointment of Soheil Asgarpour as the new chair of CCA’s board of directors. He is a recognized leader in Canada’s energy and technology sectors, with extensive experience in research, innovation and policy development. He previously served as president of Petroleum Technology Alliance Canada and as business leader of oilsands development for the Alberta Department of Energy. He succeeds Dr. Sue Molloy, who was appointed board chair in 2023. CCA

The Council of Canadian Academies (CCA) formed an expert panel to report on and support the federal government in optimizing Canada’s research infrastructure, at the request of Innovation, Science and Economic Development Canada. Janet King, chair of Polar Knowledge Canada’s board of directors and vice-chair of the Canadian Light Source’s board of directors, will serve as panel chair. The new panel comes about 20 months after the federal Advisory Panel on the Federal Research Support System, chaired by Frédéric Bouchard at the University of Montréal, released its report which examined and made recommendations on funding for Canada’s major research facilities. Bouchard is a member of the CCA’s new expert panel. CCA

Daniel Drucker, a University of Toronto endocrinologist whose work contributed to developing diabetes and obesity treatments such as Ozempic, shared a $3-million Breakthrough Prize in life sciences. National Research Council scientist Maaike van Kooten shared another $3-million Breakthrough Prize  for her work on “extreme adaptive optics,” systems that help Earth-based telescopes detect small faraway exoplanets. Canadians are also among the thousands of scientists sharing an award for fundamental physics research at CERN’s Large Hadron Collider, the particle physics research facility in Switzerland. The Breakthrough Prizes, known as the “Oscars of Science,” recognize the world’s top scientists. Breakthrough Prize

The Institute for Sustainable Finance (ISF) launched the ISF Research Fellows Program with the addition of four new fellows: Dr. Paul Calluzzo, Dr. Alison Taylor and Dr. Pierre Chaigneau at Smith School of Business, Queen’s University, and Dr. Sean Geobey at the University of Waterloo School of Environment, Enterprise and Development. The ISF Research Fellows will produce high-impact research on pressing topics such as climate-related financial risk, green investment strategies, fiduciary responsibility in a changing regulatory landscape, and corporate governance. By fostering a dynamic exchange of ideas, the ISF said, this initiative will help translate cutting-edge academic knowledge into actionable strategies, ensuring that Canada remains at the forefront of the global sustainable finance movement. ISF

Adrien Côté is stepping down as executive director of the Velocity startup incubator at the University of Waterloo to take on a new professional opportunity. Under Côté’s leadership, Velocity expanded to include a dedicated team and resources for student experiential entrepreneurship learning, with more than 1,300 students taking part in its program each year. That number translates into 200 active student teams today – 10 times the number engaged five years ago who now participate in Velocity’s distinctive Cornerstone sprint to validate business opportunities. Karim Karim, associate vice-president of commercialization and entrepreneurship at UWaterloo and a professor of electrical and computer engineering, will handle Velocity’s executive director duties on an interim basis. Velocity

Calgary-based Carbon Upcycling Technologies, a carbon and waste utilization company,  appointed Markus Kritzler as chief revenue officer. Kritzler, who has over 20 years of strategy and executive experience, served as head of group strategy at Holcim Group from 2011 to 2020, where he played a key role in the historic multibillion-dollar merger of building materials giants Holcim and Lafarge. After Holcim, he served as managing director at 414 Capital and Ingenia Capital, building a track record of over 70 merger and acquisition transactions. Kritzler joins Carbon Upcycling as the company prepares to launch its  commercial-scale facility at one of Canada's largest cement plants. Carbon Upcycling Technologies

Richmond, B.C.-based fusion energy developer General Fusion has enlisted Bob Smith, the former CEO of Jeff Bezos’s spaceflight company Blue Origin, as a strategic advisor. He will help shape General Fusion’s “technology development and strategic growth,” the company said. Before Blue Origin, Smith held leadership positions at aerospace and science companies including United Space Alliance, Sandia Labs, and Honeywell. Smith said he has been tracking fusion energy development closely during his career, and believes that the technology would represent the “last energy source humanity will ever need.” General Fusion

Markham, Ont.-based Edesa Biotech Inc., a clinical-stage biopharmaceutical company focused on developing host-directed therapeutics for immuno-inflammatory diseases, appointed Peter J. Weiler as chief financial officer, effective May 1, 2025. Weiler will succeed Stephen Lemieux, who will be stepping down from the role to pursue other professional opportunities. Weiler brings extensive experience in finance and corporate strategy within the biotechnology and pharmaceutical industries. Since August 2018, he has served as president of Exzell Pharma, Inc., a privately held, commercial-stage pharmaceutical company. Edesa Biotech

Cryptocurrency exchange company Kraken secured a restricted dealer licence in Canada and appointed Cynthia Del Pozo as the new general manager for North America and head of Canadian operations. Del Pozo will lead Kraken’s next phase of growth across Canada, the San Francisco-based company said in a blog post, adding that she will strengthen the exchange’s regulatory, political and commercial relationships as it scales its presence across North America. Del Pozo is succeeding Alex Mehrdad, who held the role for just over a year after taking the reins from Mark Greenberg when he was promoted to a global role in August. Kraken

Montreal AI researcher Joelle Pineau is leaving as vice-president of research at tech giant Meta’s Fundamental AI Research (FAIR) Labs, effective May 30, 2025. “Today, as the world undergoes significant change, as the race for AI accelerates, and as Meta prepares for its next chapter, it is time to create space for others to pursue the work,” Pineau said in a post on LinkedIn. Meta originally hired Pineau – a McGill University computer science professor and member of the Mila – Quebec AI Institute – in September 2017 to head its new FAIR lab in Montreal; she became leader of the firm’s whole AI research network in March 2023. Last month, the federal government named Pineau to its new Safe and Secure AI Advisory Group. Pineau on LinkedIn

Vancouver-based digital identity provider Trulioo appointed Vicky Bindra as chief executive officer. Bindra succeeds Steve Munford, who is retiring after successfully leading the company through significant growth and expansion. Bindra has been deeply engaged in fintech over the past two decades, having held senior executive and product leadership positions at prominent financial services organizations, including FIS, Visa and Mastercard. Before joining Trulioo, Bindra served as chief operating officer and chief product officer at Nuvei. BusinessWire

Canadian software developer Seiji Godo, who’s accused of playing a “central role” in creating and operating EncroChat, an encrypted phone service favoured by organized crime groups, has lost his legal battle against extradition to France to face criminal charges. A federal criminal court in Switzerland denied an appeal to Godo, a 38-year-old Canadian who had been living in the canton of Zug since 2019, according to a recent decision. Godo has since been extradited to France, where he is currently in custody, according to French news outlet Le Parisien. Police and prosecutors across Europe have said that EncroChat was used by organized crime groups to co-ordinate drug shipments, launder money, trade arms and even plot murders, all while evading monitoring by law enforcement. Godo is not the first Canadian to be extradited to France in connection with EncroChat. Paul Krusky, a 55-year-old from Guelph, Ont., had been living in the Dominican Republic with his wife when he was arrested and extradited to France in February 2024 on drug and money-laundering charges. French prosecutors have said Krusky is the alleged mastermind behind EncroChat. The Globe and Mail

The University of Ottawa (uOttawa) launched an Arctic Research Hub, a three-year pilot project focused on connecting, strengthening and amplifying Arctic research. The university has already built strong partnerships with key national initiatives such as ArcticNet and Arctic Pulse. The new hub will expand Arctic research beyond scientific disciplines to include social, economic and policy dimensions. Its objectives include advancing interdisciplinary research on topics such as climate change; fostering collaboration between universities, Indigenous communities and organizations; and assisting decision-makers and innovators with knowledge development and mobilization. The Arctic Research Hub will be led by uOttawa professor and Canada Research Chair Jackie Dawson and hosted by uOttawa’s Department of Geography, Environment and Geomatics in the Faculty of Arts. UOttawa

Critics are calling for the Government of Alberta to entirely scrap Bill 18, the Provincial Priorities Act, CTV News reported. Last month, the Alberta government shared that it had exempted universities from Bill 18. But municipal leaders in Alberta say funding is at risk under the legislation requiring cities and health agencies to get provincial approval before receiving federal funding. The bill – scheduled to come into effect on April 1 – could have required universities to receive provincial approval to accept federal funding. “Giving an exemption to the postsecondary sector is not enough. The bill itself should not have existed in the first place,” said University of Alberta doctorate student Andrea DeKeseredy. Ric McIver, minister of Municipal Affairs, said he is not considering further exemptions to the bill. CTV News

Kitchener, Ont.-headquartered Conestoga College eliminated several administrative positions and notified support staff about upcoming layoffs, Cambridge Today reported. Leopold Koff, president of Ontario Public Service Employees Union (OPSEU) Local 237, said the union is anticipating that as much as 30 percent of its workforce could be affected by layoffs or reductions. Vikki Poirier, president of OPSEU Local 238, said she received the notice just as the Ontario Sunshine List was released. The list shows that Conestoga president John Tibbits’s salary was $636,000 before taxable benefits in 2024, which Poirier noted is a 29-percent increase from the previous year. “We are talking about layoffs at the same time we have a board of governors that approved a [29-percent] wage increase for our president,” Poirier said. CTV News

Fanshawe College in London, Ont. suspended future intakes for 40 programs at its main campus starting in the fall of 2025, as well as local intakes for five programs at regional campuses. The programs were selected following a comprehensive review of enrolment trends, financial viability, labour market demand and post-graduate work permit eligibility. CBC reported that Fanshawe, which previously had one of the largest international student populations in Ontario, is anticipating 64 percent fewer international students next year. Students who have started their program will be able to complete their studies through a teach-out plan. Fanshawe College

Algoma University in Sault Ste. Marie, Ont. and Brandon University in Manitoba have seen a significant drop in international enrolments for 2025-26. In a report to AlgomaU’s board of governors, interim president Donna Rogers said the institution is anticipating a 50-percent reduction in new, full-time international enrolments for 2025-26. Rogers’s report indicates that AlgomaU is taking several actions to safeguard its future, including implementing streamlined department budgets for all departments to save a forecasted $15 million, introducing a temporary Voluntary Exit Incentive Program, and expanding its graduate-level programming. David Docherty, president of BrandonU, told CBC that international applications to the university plummeted by 56 percent. Algoma U (Report), CBC (BrandonU)  

R$