Plus: Meta’s A.I. exodus: Top talent quits as the lab tries to keep pace with rivals.
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Federal #Budget2022 surprisingly heavy on innovation policy (BETAKIT)
Much desired commitments to innovation clusters, intellectual property (IP), and more have been made. Rather than large cash commitments, many of the promises are program or policy-driven.
Osler releases multi-year study of 300+ Canadian VC and growth equity financings
Osler’s Emerging and High Growth Companies practice has released its first comprehensive study of 332 anonymized venture capital and growth equity financings from 2019–2021, valued at US$5.7 billion, providing data and insights for founders, entrepreneurs, investors and advisors contemplating transactions this year and beyond.
The report is unique as it draws on both publicly available data on venture capital and growth equity financings, as well as Osler’s confidential anonymized data sources. The report authors have distilled actionable insights on the data, including on common terms and structural considerations.
Read the Deal Points Report: Venture Capital Financings
Meta’s A.I. exodus: Top talent quits as the lab tries to keep pace with rivals (CNBC)
At least four prominent members of Meta AI have departed in recent months, according to people familiar with the matter and LinkedIn analysis. Between them, the scientists have published dozens of academic papers in world-renowned journals and made multiple breakthroughs that Meta has used to enhance Facebook and Instagram.
New report shares stories of the biases women entrepreneurs face raising capital (BETAKIT)
That women technology entrepreneurs must travel longer routes from startup to scale-up is a fact that resonates with Sampler founder and CEO Marie Chevrier Schwartz.
Viz.ai raises $100 million at $1.2 billion valuation to become Israel’s newest unicorn (CALCALIST TECH)
Viz.ai has raised a $100 million Series D round at a $1.2 billion valuation. The pace at which new companies have joined Israel’s unicorn list has significantly slowed in 2022 compared to last year, but Viz.ai’s announcement on Thursday also stands out due to its sector of activity.
Fill out the Sage Intacct x BetaKit Survey for SaaS startups (BETAKIT)
BetaKit has teamed up with Sage Intacct to conduct a brief survey to find out what pain points SaaS startups are running into on a day-to-day basis. Understanding the time it takes to complete financial reporting is critical on the journey to scale and secure their next round of funding. The survey takes less than 3 minutes to complete.
Move over, Photoshop: OpenAI just revolutionized digital image making (FORTUNE)
OpenAI, the San Francisco artificial intelligence company that is closely affiliated with Microsoft, just announced it has created an A.I. system that can take a description of an object or scene and automatically generate a highly realistic image depicting it. The system also allows a person to easily edit the image with simple tools and text modifications, rather than requiring traditional Photoshop or digital art skills.
Meta to hire up to 2,500 workers in Canada, open engineering hub to build metaverse (BETAKIT)
The 2,500 hires will include remote and in-office positions, and look across the country for tech talent. The office and large team expands on Meta’s existing presence in Canada, which includes hundreds of employees and labs in Montréal and Toronto.
Facial Recognition Goes to War (NEW YORK TIMES)
Services that put a name to a face, including Clearview AI, are being used to identify Russian soldiers, living or dead, and to verify that travelers in Ukraine are who they claim.
FutureFit AI raises $5.7 million to scale career navigation platform (BETAKIT)
The financing was co-led by American investment firms JPMorgan Chase and Acumen America. Acumen president Carlyle Singer will join FutureFit’s board of directors as part of the investment.
Chatbots may be better when it comes to giving consumers bad news (WALL STREET JOURNAL)
As companies increasingly use AI-powered chatbots to handle customer transactions, it remains to be seen how consumers feel about it. New research suggests that it may partly depend on whether consumers think they are getting a good deal.