500 Startups, one of the world’s most active venture capital firms, today announced the closing of a $140M global flagship fund–the firm’s largest fund to date–bringing assets under management to $1.8B.* Now rebranded as 500 Global, the firm has been expanding its investment strategy beyond the accelerator and seed stage.
You’re invited to join a Fireside Chat on Tuesday, September 14th from 1:00pm to 2:00pm on the Atlantic Investment Bubble.
To join, please register on Eventbrite and you’ll receive a calendar invitation with the meeting link.
Over the past four months, unprecedented effort has been underway with a regional working group of 22 entrepreneurs, investors, and industry groups to create a renewed call-to-action that builds on the success of the Atlantic Bubble and our regional collaboration in managing the pandemic. We came together with a common goal of seeing our region’s economy emerge stronger from the pandemic than we were before.
Our first call-to-action is for the Atlantic provinces and federal government to collaborate on the creation of an Atlantic Investment Bubble pilot program.
Start-ups and SME’s in Atlantic Canada are looking for ways to recover and grow in a post-COVID environment. To scale their existing business models, they will need to attract capital and the competition for that capital is fierce.
The Atlantic Investment Bubble would see an evolution of the current equity tax credit programs, including the Small Business Investment Tax Credit programs that currently exist in each Atlantic Canadian province, making it available to all residents in Atlantic Canada regardless of which province they decide to invest in. The Atlantic Investment Bubble will grow the pool of capital available to Atlantic Canadian companies and will strengthen our provincial and regional economies in the process.
We hope you can join us for the Fireside Chat to hear from some of the champions behind this initiative. You’ll have a chance to learn more about the proposal, ask questions and find out how you can help make this dream a reality.
A website has also been created on the Atlantic Investment Bubble, which includes a detailed discussion paper. Please check it out, add your name as a supporter, and share with your networks.
Halifax startup Trip Ninja is ceasing operations.
The company announced its decision late on September 8, saying the pandemic and its impact on the travel industry has taken a toll.
Former premier Frank McKenna says it’s time to propel the province forward in the age of computer and digital technologies. He believes, with the right investment, New Brunswick won’t just catch up with other jurisdictions, it will become a global leader in the information era.
At the time, he was working in the university’s marketing department. He saw an MBA as a way to advance his career within the organization.
Jeff Schnurr, CEO & Co-founder of Jaza Energy, was recently interviewed on a Nigerian radio station to talk about Jaza’s plans to expand into the Nigerian market.
Click here to access to the interview.
Having sold its Squiggle Park online reading game, Halifax-based edtech company Eyeread is planning to focus on developing a platform that can be used to deliver educational content, including games, to students.
Walking into a room at Science East, the first stand on the left is for Measurand. Their module has a video of the manager of research explaining her work and a moveable model of a construction site.
Kognitiv Spark today announced it has been named a global finalist in both the Defense & Intelligence and Mixed Reality categories for the 2021 Microsoft Partner of the Year Award. The company was honored among a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology.
Hygge Power Inc. has been named a semifinalist in Cleantech.org’s inaugural GS Beyond Energy Innovation Challenge, a pitch competition celebrating purpose-driven startups that address persistent and emerging hurdles of the energy transition. The 2021 semifinalists were announced by program sponsor Cleantech.org, the leading portal for energy & environmental technology commercialization. Collectively, the semi-finalists have raised over $100 Mil in equity and non-dilutive funding to develop products for the next generation of energy. The companies range from pre-seed to late stage, and have been backed by over a hundred different venture capital funds, corporations and investors.
The GS Beyond Energy Innovation Challenge is hosted and funded by GS Beyond and GS Futures, the Silicon Valley-based innovation, and investment arms of the South Korean headquartered global energy, power, construction, and retail conglomerate GS Group. The challenge is supported by top incubators and accelerators in the cleantech sector, including: Greentown Labs, Elemental Excelerator, Third Derivative, Austin Technology Incubator, and Techstars.
“All of our semi-finalists have clearly demonstrated that they are purpose-driven startups that address persistent and emerging energy transition problems,” said Sungene Ryang, Executive Director of GS Beyond, and host of the GS Beyond Innovation Challenge. “We are excited to learn more about their solutions and wish them the best of luck in the next phase of the competition.”
Hygge Power develops home energy storage devices called OPO (“orchestrated power outlets”), which provide energy savings every day and backup power during outages. Unlike most home energy storage devices which are designed for wealthy homeowners, our OPOs provide backup power at the plug level, to the most critical devices in a home, such as a home office or entertainment station. These devices work in any home, owned or rented, are affordable, are easy to setup (no electrician required), and are long lasting (5000 cycles at 2/day covers almost seven years). Our CO-Z app provides outage alerts and energy information and control to all users and enhances the benefits of the OPO devices.
“We are excited to be a part of this Challenge and to have made it into the semifinal round,” said CEO Caleb Tristan Scalf. “Our selection is a recognition that our hardware and software products will benefit the GS Group and its customers, as well as benefitting electric customers more broadly. We look forward to advancing to the finalist round.”
The GS Beyond Energy Innovation Challenge’s independent panel of judges will select the top five finalists that will present at the Pitch Day Event on July 21st. Judges include highly experienced investors and executives from Chevron, Amazon, GS Group, and EDF. Top three finalists will be considered for a pilot project with GS Group. First place winner will receive a cash award of $100,000 with no strings, deliverables, or equity dilution.
The full list of categories and list of finalists for the 2021 GS Beyond Energy Innovation Challenge can be found here.
About Hygge Power Inc.
Hygge Power is building a new platform for flexible energy storage for apartments, homes, and small businesses. Their in-home network of small storage devices works together to act as one giant battery, allowing renters and homeowners to deploy backup power where it’s most important at a lower cost. Their CO-Z app enhances the energy storage devices and provides businesses and residences with predicted power outages and other real-time energy insights. Hygge Power is based in Boulder, Colorado. For more information, please visit www.hyggepower.com.
About GS Beyond
GS Beyond is the open innovation arm of GS Group, focused on identifying and fostering innovation across various industries: energy and power, retail and commerce, and engineering and construction. Based in Silicon Valley, GS Beyond builds partnerships with companies developing cutting-edge technology and innovative ideas to change the world in positive, sustainable ways. For more information, visit gsbeyond.com.
About GS Futures
GS Futures is the US corporate venture arm of GS Group, focused on investing and collaborating with World-changing teams and innovations tackling Climate Change, Energy Transition and the Future of Commerce. By marrying the existing capabilities of GS with innovations spurring from the Venture ecosystem, GS Futures seek to collaboratively disrupt for a more positive future. For more information, visit gsfutures.vc.
About Cleantech.org
CleanTech.org is the leading portal for energy & environmental technology commercialization. Their mandate is to be the access point for the growing number of individuals and companies involved in the sector. They seek to allow these participants to develop networks and access information and resources to facilitate the commercialization of clean technologies through an interactive experience. For more information, visit www.cleantech.org.