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Events, Featured

Web Summit 2024: Record-Breaking Attendance and Industry Highlights

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Web Summit 2024, held in Lisbon from November 11 to November 14, broke records with 71,528 attendees from 153 countries.  This sold-out event featured over 3,050 companies, 953 speakers, and 1,066 investors. AI emerged as the leading industry, with new innovations showcased by both startups and well-known tech giants.   The conference floor was abuzz with excitement as partners such as IBM, Adobe, Meta, Huawei and American Express showcased cutting-edge technology. Among the 62 trade delegations attending the event Germany and Brazil lead the way It reinforced the global appeal of this important meeting. Opening night featured high-profile speakers, including Pharrell Williams who spoke about the intersection of commerce and creativity and Twelve Etosha Cave who presented the latest methods for producing fuel from water, CO2. Are you passionate about tech innovations, networking, and inspiring success stories from tech leaders? Don’t miss your chance to be part of the TechBeat Summit and Awards at The Westin Harbour Castle, Toronto, on December 11. Secure your spot and buy tickets here! Artificial intelligence took center stage at the event, representing the most significant industry growth with a 16% increase in presence. Other industries included SaaS, fintech, healthtech, and clean tech. Women in tech made remarkable strides this year, with women-founded startups accounting for 44.5% of exhibitors, up from 29% in 2023. Women also represented 42% of all attendees. Web Summit 2024 was again an effective demonstration how technology, creativity, and global collaboration are shaping the future. With an incredibly high attendance and dynamic agenda, it has set a high standard for the tech industry’s most influential conferences. Web Summit 2025 is set to take place in Lisbon from November 10 to November 13. Source: https://websummit.com/ Picture Source: https://websummit.com/

Featured, Fintech

Interac Survey: Newcomers lose financial confidence after arrival in Canada

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TORONTO, Nov. 12, 2024 /CNW/ – Newcomers are experiencing challenges with their financial confidence. A recent survey by Interac Corp. (Interac) reveals that starting a new life in Canada can cause a significant drop in financial confidence for newcomers. While a majority (61 per cent) of newcomers surveyed felt financially confident when first arriving here, that confidence fell (31 per cent) after contending with the economic challenges of settling in Canada. The Interac survey highlights newcomers are disproportionately affected by financial barriers, with over eight in 10 (85 per cent) reporting at least one such barrier impacts their financial security, compared to over half (58 per cent) of the general Canadian adult population polled. This disparity underscores the importance of providing targeted support and resources to help newcomers build their financial confidence and successfully navigate the Canadian financial system. Adding to the complexity, financial knowledge and practices from a newcomer’s home country often don’t readily translate to the Canadian context. “Newcomers are calling for tailored support, with 54 per cent believing that financial resources should be designed by newcomers,” said Lauren Mostowyk, Head, Integrated Marketing & Communications at Interac. “This is why we’ve focused on providing comprehensive support systems through our partnerships with Credit Canada and ACCES Employment. These collaborations provide mentorship from experienced newcomers and free access to a tailored blend of resources, so we can help empower newcomers to build a strong financial foundation. Practical tools such as online courses covering Canadian banking basics (81 per cent) and budgeting apps for local expenses (77 per cent) are highly sought after by survey respondents. To support the need of available resources, Interac sponsored Credit Canada’s Butterfly app to provide newcomers with free access to the app’s resources. This multilingual resource is intended to empower newcomers to take control of their finances, from budgeting basics to cost-of-living resources and real-time currency conversion. Created by newcomers, for newcomers, the Butterfly app equips new Canadians with the knowledge and confidence to build financial success in Canada. In addition to practical resources, mentorship plays a vital role in newcomer integration, proving significantly more prevalent among newcomers (51 per cent of respondents have had a mentor) than the general Canadian population (31 per cent). For newcomers, mentors have been said to provide invaluable support in navigating language barriers (89 per cent), understanding Canadian currency (86 per cent), and avoiding financial scams (83 per cent). Mentors who have personally navigated the newcomer journey are crucial as one-third of newcomers feel current financial resources don’t reflect their realities, and over half find their needs evolve over time. ACCES Employment is dedicated to tailored mentorship opportunities and has worked with Interac for over five years to scale programming and reach more newcomers. “ACCES Employment serves as an important resource to support newcomers navigating the Canadian job market and re-establish their financial confidence. We empower newcomers to overcome employment barriers, build strong professional networks, and achieve lasting career success in Canada. Our partnership with Interac has been instrumental in expanding our programs and services for newcomer job seekers, including connecting newcomers with experienced mentors,” said Allison Pond, President & CEO, ACCES Employment. About the Interac research An online nationwide survey was conducted by Discover among 1,459 respondents, age 18 years and older. The sample was comprised of a core sample of 1,000 Canadian adults (representative of the Canadian adult population according to the most recent Statistics Canada census data), plus an oversample to result in a subgroup total of 500 newcomers/new Canadians (defined as those who immigrated to Canada after age 18 and have lived in Canada for less than 10 years). The survey was fielded in English and French from October 10 to October 23, 2024. To learn more, visit In The Know.

Apps, Featured

Seed Round Funding: Wine App InVintory Secures $2.3M USD

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TORONTO, Nov. 12, 2024 /CNW/ – InVintory, the cutting-edge wine management platform, has successfully raised $2.3M USD in seed round funding to fuel its expansion into the hospitality and storage industries. This funding round, led by passionate users, as well as angel and strategic investors, will enable InVintory to launch its industry-leading 3D technology to businesses, including restaurants, hotels, golf and country clubs, wine storage facilities, and wine clubs. This round also marks a significant milestone, as Joshua Daiter steps into the role of CEO. Founded in 2019, InVintory has grown from a vision to simplify wine management into a sophisticated platform trusted by collectors and businesses around the world. Streamlining Wine Management for Businesses Building on its success in the private wine collection market, InVintory is now set to empower hospitality operators with a comprehensive solution. The platform will help facilities streamline wine program management, deliver exceptional guest experiences, and support wine clubs in managing their members’ collections. As the hospitality industry increasingly emphasizes inventory efficiency, InVintory’s tailored platform is poised to become an essential tool for wine programs across the sector. InVintory also plans to expand its product into new international markets, beginning with Europe, to meet the growing demand for innovative wine management solutions worldwide. The new funding will be used for the following initiatives: Development of advanced hospitality and storage features including real-time inventory tracking, analytics, and custom workflows for managing wine usage during events. Team expansion to recruit top talent in product development and sales to accelerate growth. Enhanced marketing efforts to capture significant market share with new audiences. International expansion to introduce InVintory’s platform to new markets. Key Features for Enterprise InVintory’s platform is designed to enhance both operational efficiency and guest experience for hospitality and wine club clients: Real-Time Inventory Tracking – Monitor stock levels in real-time for accurate, up-to-date availability. Customizable Reporting and Analytics – Generate insights on sales trends, inventory turnover, and profitability to help facilities make data-driven decisions. 3D Virtual Cellar Visualizations – Seamlessly organize and track inventory across primary cellars and off-site storage locations. Member and Locker Management for Wine Clubs – Provide personalized dashboards, member insights, and locker management for a unique, branded experience for wine club members. Executive Quotes “InVintory was born out of a passion for simplifying wine management, and I’m thrilled to bring that vision to the hospitality and wine storage sectors,” said Joshua Daiter, CEO of InVintory. “Our platform enables venues to elevate their wine offerings and deliver exceptional guest experiences, all while maximizing operational efficiency.” About InVintory Founded in 2019, InVintory provides a powerful solution for managing wine collections. With features like AI-powered recommendations, advanced analytics, and 3D cellar models, InVintory has become an invaluable tool for wine collectors and hospitality venues seeking to streamline operations. The platform’s innovative design and commitment to the wine community position it as a leader in wine inventory management.

Events, Featured

Scale Without Borders

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Register Here:  Every year, in our annual Immigrants in Tech Summit, Scale Without Borders claims space for thousands of immigrants and newcomers in tech at none other than the Royal Ontario Museum. Throughout the day, we bring the entire immigrant and tech community— key corporate leaders, leading startups, government and non-profit organizations— to support, celebrate, hire and engage the brightest immigrant tech talent and entrepreneurs. Visualize high profile talks, high impact break-outs, curated networking

Featured, Fintech

Top Down Ventures: First Close of US$25M Founders Fund I

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VANCOUVER, BC, Oct. 21, 2024 /CNW/ – Top Down Ventures, the premier venture capital firm founded by industry visionary Chris Day, has announced the first close of its US$25M Founders Fund, designed to fuel early-stage SaaS companies within the Managed Service Provider (MSP) sector. Building on its innovative venture studio model, Top Down empowers MSP software startups with not only capital but also unparalleled operational expertise and a proven scaling playbook. The firm’s General Partners – Chris Day, Joel Abramson and Mark Scott –  boast a remarkable track record in the MSP space, including founding and scaling companies like Fully Managed (acquired by TELUS), IT Glue (acquired by Kaseya), N-able (NYSE: NABL), ScalePad, and Produce8. With prior investments in leading MSP software firms such as Backup Radar, Quoter, Control Map and most recently Benji Pays. Focused Expertise in the MSP SaaS Space “We are thrilled with this milestone, which reflects the confidence of MSP founders and executives who make up the majority of our Limited Partners,” said Joel Abramson, Managing Partner at Top Down. “Our deep sector focus and hands-on approach are already driving momentum as we anticipate closing three new SaaS investments in Q4.” Top Down’s Founders Fund targets high-potential SaaS companies generating $1M+ in annual recurring revenue (ARR), with Seed or Series A investments up to $3M. With a carefully curated network of Limited Partners and Operating Advisors – including MSP veterans like Dan Wensley, Janice Siddons and Ryan Voegeli – the fund is uniquely positioned to amplify the success of its portfolio companies. Photo by Aidan Hancock on Unsplash Driving Innovation in a Booming Industry “We’ve been at the forefront of several firsts in the MSP industry, and this fund is the next one,” said Mark Scott, Managing Partner at Top Down. “Our capital, SaaS playbook, and venture studio combined with our global network, provide an unparalleled force multiplier for SaaS startups in an industry that’s on track to reach $1 trillion by 2030.” Top Down not only offers financial backing but also leverages its deep operational experience to drive growth for its portfolio companies. The firm’s venture studio model includes expert guidance in product development, go-to-market strategies, and team building, ensuring that founders receive both strategic and tactical support. To learn more, SaaS founders and LP investors can visit www.topdown.com and sign up for The Future of MSP Work, a thought leadership series exploring key trends and opportunities in the MSP sector. About Top Down Ventures Top Down is a leading venture capital firm specializing in early-stage Software-as-a-Service (SaaS) companies in the Managed Service Provider (MSP) market. The firm’s Founders Fund I focuses on SaaS companies with $1M+ ARR, offering Seed or Series A investments of up to $3M. With a venture studio model that combines operational support and scaling expertise, Top Down helps MSP software companies realize their full potential. For more information, visit www.topdown.com

Events, Featured

Fortinet Cybersecurity Summit 2024

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Calling all IT professionals – the Fortinet Cybersecurity Summit is back! The Fortinet Cybersecurity Summit 2024 is our premier global event designed exclusively for the cybersecurity community. We are thrilled to announce that for the second year in a row, Canada will be playing host to this prestigious gathering.  The primary objective of the summit is to enlighten, demonstrate and share information about market trends, future trajectory of cybersecurity, and its profound influence on business outcomes. Register Here: Fortinet Cybersecurity Summit 2024 The Fortinet Cybersecurity Summit 2024 serves as a unique platform where you will have the opportunity to network with distinguished leaders in the field of cybersecurity. Our event also provides the opportunity to gain insights from our resident experts, gain knowledge from our cutting-edge and transformative content, and immerse yourself in a conducive environment that will aid customers and prospects in making well-rounded decisions regarding comprehensive cybersecurity solutions that safeguard users, devices, and applications across all potential attack vectors.

Featured, Security

Syntax Systems Acquires Argon Supply Chain Solutions

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Adding best-in-class SAP® Digital Supply Chain Capabilities to its Suite of Industry-Focused Enterprise Cloud Solutions MONTRÉAL, Oct. 15, 2024 /PRNewswire/ — Syntax Systems, a leading global technology solutions and services provider for cloud application implementation and management, announced it has acquired Argon Supply Chain Solutions, a firm specializing in warehouse management and supply chain optimization solutions and SAP® Gold Partner. Argon serves a growing range of multi-national customers across the world through its presence in the UK and South Africa. “The Argon team is renowned for its market leading knowledge and Digital Supply Chain excellence through their partnership with SAP,” said Christian Primeau, Global CEO of Syntax. “By welcoming the Argon team to the growing Syntax family, we are expanding our capabilities and infusing a critical component within our core industry verticals. Together, we are growing our services and reach to better serve our respective customers with full implementation lifecycle support for logistics execution.” “As part of Syntax, Argon will have additional resources to grow our reach into new markets and industry verticals. Having worked together in the past, I am confident that our culture fit, and growing set of best-in-class capabilities will equally benefit our employees and our respective customers. Together, we are in a better position to further our mission of delivering operational performance improvements to a growing international customer base,” commented Argon co-founders Peter Kerr and David Webb. “Novacap is proud to support Syntax’s acquisition of Argon. As committed partners, we are dedicated to advancing Syntax’s leadership in the SAP ecosystem, and application management and cloud services sector. The addition of Argon’s team and capabilities will help empower more businesses in the Consumer Products and Goods, Retail, Manufacturing, Wholesale and Distribution, Mining and Life Sciences verticals,” said Ted Mocarski, Senior Partner at Novacap. Syntax is a portfolio company in the TMT VI Fund of Novacap, one of North America’s established private equity firms. Argon is Syntax’s seventh add-on acquisition since partnering with Novacap. About SyntaxSyntax provides comprehensive technology solutions and trusted professional, advisory, and application management services to power businesses’ mission-critical applications in the cloud. With 50 years of experience and 800+ customers around the world, Syntax has deep expertise in implementing and managing multi-ERP deployments in secure private, public, hybrid, or multi-cloud environments. Syntax partners with SAP, Oracle, JD Edwards, AWS, Microsoft, and other global technology leaders to ensure customers’ applications are seamless, secure, and at the forefront of enterprise technology innovation. Learn more about Syntax at www.syntax.com or follow Syntax on LinkedIn. About Argon SCSArgon SCS (Pty) Ltd, a UK and South African based SAP service provider founded in 2011, is focused on providing Warehouse and Stock Management solutions. With over 100 successful warehouse projects implemented, Argon has established itself as a leader in cost effective and efficient supply chain projects. With extensive experience in the Consumer Products and Goods, Manufacturing, Wholesale and Distribution, and Life Sciences industries, Argon has developed a multi-industry experience resulting in adaptive cross industry knowledge within the supply chain execution space. For more information, please visit https://argonscs.com. About NovacapNovacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market companies in four core sectors, Technologies, Industries, Financial Services and Digital Infrastructure. Novacap combines deep sector specific expertise and strategic and operational excellence to partner with entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. Novacap has over C$8 billion of assets under management and more than 110 employees, including 65-plus investment professionals, across offices in Montreal, Toronto and New York. For more information on Novacap, please visit: www.novacap.ca.

Featured, Start ups

KPMG: Nine in 10 Canadian CEOs considering acquisitions

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Most CEOs are planning deals in the next three years, with four in 10 considering major transactions, while small and mid-sized companies increasingly tap private markets TORONTO, Oct. 7, 2024 /CNW/ – Nine in 10 CEOs of large Canadian organizations are considering making acquisitions in the next three years to help boost growth – with four in 10 planning major deals – and nearly three quarters of small and medium-sized businesses are considering making acquisitions, according to a pair of KPMG surveys. In KPMG International’s CEO Outlook, a survey of global CEOs, Canadian chief executives cited M&A as their second-most important growth strategy over next three years, just behind organic growth, while CEOs in global markets cited M&A as their top priority – ahead of organic growth. Among Canadian CEOs, 41 per cent said they are likely to make acquisitions that will significantly impact their operations, 49 per cent are likely to do deals that moderately impact their business and only 9 per cent are unlikely to make an acquisition. By contrast, KPMG in Canada’s Private Enterprise survey showed small- and medium-sized businesses (SMBs) are relying less on M&A as a top growth strategy, but they’re still planning to do deals: 34 per cent are considering significant acquisitions, 43 per cent are expecting to make acquisitions with moderate impact on their organizations, and four per cent are seeking to be acquired. “Recent interest rate cuts by central banks in Canada and the U.S., and lower inflation are breathing life back into the M&A market. As the cost of capital eases, investors and corporates are becoming more confident about making acquisitions, so we expect to see dealmaking activity pick up; in fact, 2025 could be one of the busiest years for M&A in quite some time,” says John Cho, KPMG in Canada’s National Leader of its Deal Advisory practice. “As economic headwinds begin to ease, businesses and institutional investors will naturally become more acquisitive. The supply of acquisition targets will likely increase as well, as more private equity funds exit their investments after years of cautiously sitting tight. As the economy starts to improve, more small and mid-sized businesses will be looking for funding to help support their next stage of growth. All these factors point to a busier M&A market,” Mr. Cho adds. For SMBs looking to expand, tapping private capital will be a key strategy, survey data shows: eight in 10 respondents are looking for a long-term investor with patient capital and advice that can help them scale up, and 77 per cent are seeking an investment of 10 years or more. Tapping private capital Just over three quarters (77 per cent) of SMB respondents are considering or would consider teaming with private-equity investors as long as they don’t load up their balance sheet with debt, and 78 per cent said raising private capital is more important to their growth strategy than the public markets. Neil Blair, partner and President of KPMG in Canada Corporate Finance Inc., says private capital has become an increasingly important source of growth for Canadian organizations over the last few years because the alternative – going public – has become more onerous and complicated, according to Canadian business leaders. Almost eight in 10 (79 per cent) respondents said the immense and increasing cost of compliance, governance and disclosure requirements makes going public or being a publicly traded company problematic. If the compliance and governance burden could be eased however, three quarters of respondents said they would definitely consider going public. “Public markets have become more complex and harder to navigate, and many businesses don’t want to deal with that complexity because it can be costly, time-consuming and resource-intensive for many organizations. Private capital is an attractive option for growing businesses, but business owners aren’t just looking for funding – they want true partners who understand and value their vision and purpose. There’s more at stake to doing a deal nowadays,” Mr. Blair says. Creating value in a complex M&A market In addition to having strong relationship dynamics with their investors, sellers are contending with increasingly important factors such as environmental, social and governance (ESG) standards and regulations, and emerging technologies, Mr. Blair says. “Three quarters of SMBs told us they find the M&A landscape far more complex than five years ago because of decarbonization, the growth of AI, concerns over data quality and privacy, and the ability to integrate these into their systems. That underscores the need for sellers to differentiate and position themselves in the M&A market and find novel ways to create and demonstrate value to investors,” he says. “Businesses that are digitally-savvy and have a culture of innovation are likely to get more out of a transaction. Integrating generative AI into their operations, for example, could help sellers boost the value of their business, and our survey bears that out: more than eight in 10 (81 per cent) SMBs think generative AI would make their company more valuable to prospective buyers,” Mr. Blair adds. Getting more value out of a deal is a key consideration for organizations whether they are acquirers or targets: nearly eight in 10 (79 per cent) SMB respondents are looking for ways to create more value for their company ahead of a sale, while 68 per cent have difficulty deciphering the true value of potential acquisitions. Mr. Blair and Mr. Cho recommend the following strategies for acquirors and prospective sellers to get more value from a deal: Use data and analytics and AI tools to identify competitive advantages and synergies Have dedicated M&A personnel, processes and activities in place pre- and post-deal Engage third-party advisors to help identify additional value creation opportunities For more insights on M&A, see our latest article, Getting to the Real Deal.

AI, Featured

Mercedes-Benz expands open innovation activities in Canada

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Mercedes-Benz and the Ontario government, through the Ontario Vehicle Innovation Network (OVIN), establish incubators to foster startup creation, startup scouting and automotive innovation in Ontario, Canada OVIN Incubators join growing international Mercedes-Benz STARTUP AUTOBAHN network Initiative aims to drive transfer to industrialization, leveraging the region’s strong foundation in advanced automotive technology and smart mobility Research collaboration with University of Waterloo complements existing academic research into neuromorphic computing STUTTGART, Germany and TORONTO, Oct. 8, 2024 /CNW/ – Mercedes-Benz is partnering with the Ontario Vehicle Innovation Network (OVIN), the Government of Ontario’s flagship initiative for the automotive and mobility sector. The purpose is to expand startup creation and scouting activities in North America and to promote the commercialization of automotive innovation. The OVIN Incubators Program will focus on identifying and fostering innovation in future software & AI, future vehicle components and future electric drive. Working with startups, and in partnership with OVIN, Mercedes-Benz will help progress promising projects through the provision of its specialist expertise and use cases. Selected projects will also benefit from the international Mercedes-Benz STARTUP AUTOBAHN network. Separately, the company intends to start a research collaboration with the University of Waterloo, Ontario with a focus on neuromorphic computing for automated driving applications. The move complements a range of ongoing Mercedes-Benz R&D activities in Canada. “Innovation is part of Mercedes-Benz DNA. In our global R&D strategy, open innovation gives us rapid and direct access to the latest ideas and developments around the world. We are therefore delighted to further expand our activities in Canada as a founding partner of the OVIN Incubators. In a fast-paced environment, it is another important channel for developing exciting future products and elevating our customer experience through new technologies.”Markus Schäfer, Member of the Board of Management of Mercedes-Benz Group AG, Chief Technology Officer, Development & Procurement   The academic research collaboration and participation in the OVIN Incubators Program are the latest in a series of initiatives underpinned by the company’s Memorandum of Understanding (MoU) with the government of Canada, signed in 2022. The aim of the MoU is to strengthen cooperation across the electric vehicle value chain. Through the partnership with the Ontario government through OVIN, Mercedes-Benz is accelerating and expanding its presence by tapping into Ontario’s international acclaim as a centre for tech development, recognizing the province’s significance for Mercedes-Benz’s global innovation network.Open innovation draws in ideas, inspiration and technologies from a wide variety of external sources and partners. This approach is a long-established part of Mercedes-Benz R&D strategy, enriching and complementing the company’s internal R&D work worldwide. “This new partnership between the Ontario Vehicle Innovation Network (OVIN) and Mercedes‑Benz is going to be a significant boost for our province’s automotive and mobility sectors. By bringing together the best of industry, research, and entrepreneurial talent, we’re fostering innovation that will strengthen our economy, create good jobs and position Ontario as a leader in the auto and electric vehicle technologies of the future.” Doug Ford, Premier of Ontario   “Ontario continues to build its reputation as a world leader in manufacturing the cars of the future, with $44 billion in new investments by automakers, EV battery manufacturers and parts suppliers coming into the province over the last four years. The launch of OVIN Incubators represents another link in our growing end-to-end, fully integrated, EV supply chain. With a new platform for our world-class tech ecosystem to develop homegrown mobility innovations, Ontario talent will continue to be on the forefront of creating the technologies that will power vehicles all over the world through the Mercedes-Benz STARTUP AUTOBAHN network.”Vic Fedeli, Ontario Minister of Economic Development, Job Creation and Trade   “As Ontario sets its sights on the next decade of growth of its automotive and mobility sector, it is vital that we continue to foster the talent, technical expertise and capacity for innovation to achieve this future. The OVIN Incubators build a robust foundation for nurturing the next generation of innovators by providing a clear pathway from research and development to commercialization and industrialization, in partnership with Ontario’s leading postsecondary institutions and major industry players. This platform will further cement the foundation for sustainable economic growth within the sector and beyond, across the entire province.”Raed Kadri, Head of OVIN Mercedes-Benz partners in OVIN Incubators to accelerate startup scouting and support commercializationIn its pilot phase, the OVIN Incubators Program will conduct startup scouting to identify opportunities in Ontario relevant to Mercedes-Benz fields of research. The aim is to empower startups to engage with industry and establish a robust pipeline of companies whose growth can be catalyzed. Together, OVIN and Mercedes‑Benz will narrow down an initial longlist through a process of evaluation, ultimately arriving at individual projects that will progress to proof-of-concept based on Mercedes‑Benz use cases. The OVIN Incubators join a growing international network of regional programmes benefitting from the Mercedes‑Benz STARTUP AUTOBAHN platform for open innovation. This globally networked and locally executed approach seeks to maximize the pool of ideas, innovations and technologies that can flow into future Mercedes‑Benz products. Looking to the future, the next phase of the OVIN Incubators will seek to expand its scope through the addition of further partners from industry and academia. Collaboration with the University of Waterloo to help seed, grow and harvest research in the field of neuromorphic computingMercedes-Benz and the University of Waterloo have signed a Memorandum of Understanding to collaborate on research led by Prof. Chris Eliasmith in the field of neuromorphic computing. The focus is on the development of algorithms for advanced driving assistance systems. By mimicking the functionality of the human brain, neuromorphic computing could significantly improve AI computation, making it faster and more energy efficient. While preserving vehicle range, safety systems could, for example, detect traffic signs, lanes and objects much better, even in poor visibility, and react faster. Neuromorphic computing has the potential to reduce the energy required to process data for autonomous driving by 90 percent compared to current systems. “Industry collaboration is at the heart of our success as Canada’s largest engineering school. We recognize that research partnerships with companies such as Mercedes-Benz bring opportunities to directly apply and test our work, while introducing our students to the highest standards in industry.”Mary Wells, Dean, Faculty of Engineering at the University of Waterloo The work with the University

Featured, Fintech

Constant Contact Acquires Business of Txtify Technologies

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Deal strengthens the platform’s lead generation and social media monetization capabilities, empowering small businesses to convert followers into customers and accelerate their growth WALTHAM, Mass. and TORONTO, Oct. 10, 2024 /PRNewswire/ — Constant Contact, a digital marketing and automation platform that has helped millions of small businesses and nonprofits globally, today announced that it has acquired the business of Txtify Technologies, a technology company specializing in mobile-first lead generation through customized microsites and surveys. The acquisition enhances Constant Contact’s platform by providing small businesses (SMBs) with new tools to grow their customer base and convert social media and digital media engagement into valuable customer relationships. This acquisition will help Constant Contact’s SMB customers by enabling them to create mobile-optimized, branded lead generation forms in minutes without coding or web development experience. With intuitive design tools and high-performing templates, SMBs can quickly capture contact information from social media followers and build deeper relationships with them through owned channels, like email or SMS marketing. This ability to quickly turn social media engagement into qualified leads is a valuable addition to Constant Contact’s marketing platform. According to Constant Contact’s Small Business Now report, 60 percent of small businesses rely on social media as their primary channel for engaging with customers. However, one of their biggest challenges is converting those likes, comments, shares, and followers into customers. More than half of SMBs surveyed identified social media as the area of their marketing where they need the most support. “The profile of today’s small business has changed, and many now launch and grow their brand on social media before they build a website or create their first email campaign,” said Frank Vella, CEO at Constant Contact. “Our acquisition of Txtify Technologies’ business enables us to deliver value to mobile-first and social-first entrepreneurs by empowering them to own their audience on social media and turn a follower list into a marketing list. This is a strategic step forward in our mission to innovate on behalf of SMBs and equip them with the tools they need to grow their business.” “We are thrilled to bring our powerful lead generation technology to a wider audience as part of Constant Contact’s platform,” said John Stewart, co-founder and CEO at Txtify Technologies. “Our mission has always been to simplify and scale lead capture and conversion for small businesses, and by joining Constant Contact, I am confident that we will be able to help even more SMBs grow and succeed.” As part of the transaction, Stewart along with Txtify Co-Founder and Chief Technology Officer, Eric Dewhirst, have joined Constant Contact and will play a key role in the integration of the acquired technology into Constant Contact’s platform. When Txtify’s technology is combined with Constant Contact’s existing powerful marketing capabilities, like email, SMS, social media ads and event capabilities, SMBs will be able to grow their contact lists quickly, better understand their audience and potential customers, drive more revenue and more directly correlate social media activity with business results. About Constant ContactConstant Contact makes digital marketing easy and effective for small businesses and nonprofits around the world. Whether just starting out, or managing complex multi-channel campaigns, SMBs benefit from our powerful SaaS platform that delivers a simplified marketing experience with less time spent and better results. With cutting-edge technology, best-in-class deliverability and award-winning customer support, we help the small stand tall.

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