Millions going to Alberta health and life science startups

Welcome to this week's Sunday Briefing. In this issue, read about a fund supporting health and life science startups, plus 8 other stories you may have missed.

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Millions going to Alberta health and life science startups

Last week, the Alberta Enterprise Corporation (AEC) announced that it had invested US$7.5 million into Amplitude Ventures' US$192-million Fund II. Through the fund, early stage Alberta health and life science startups will gain access to Amplitude's specialized precision medicine expertise and investment.

"Alberta life science startups require access to capital and expertise from specialized life science investors in order to scale," said Kristina Williams, CEO, Alberta Enterprise Corporation. "Amplitude contributes deep expertise to help Alberta entrepreneurs building new precision medicine companies which can drive meaningful outcomes in human health and transform the future of healthcare."

Amplitude Ventures invests in precision medicine at the intersection of biology and AI. Since 2019, the firm has invested in entrepreneurs creating and building precision health companies, including Repare Therapeutics, Abdera, Valence, and Edmonton's DrugBank.

AEC invested in Amplitude's first fund and is returning as an investor in Fund II.

🤝 Funding, Deals, and Partnerships

• Alberta announces $44M to help businesses launch emissions-reduction projects. The province announced the funding, available through the Emissions Reduction Alberta’s Emerging Innovators Challenge, will be available to 21 businesses. CTV News

• After facing “challenging operating conditions,” Jasper Commerce sells operating business to Digital Commerce Payments. Jasper to keep some equity and future earnings, but otherwise has "no active business." Betakit

📰 Need To Know

• Carbon Upcycling joins a community of purpose-driven businesses with B Corp Certification. The certification process involved an extensive evaluation, including achieving a minimum B Impact Assessment score and meeting stringent governance and transparency requirements. Carbon Upcycling Technologies

• RainStick Shower to be featured in new Calgary development. Named one of the best inventions of 2023 by TIME Magazine, RainStick Shower is making its way to Calgary. Calgary.Tech

• Orennia launches advanced AI-powered platform. The purpose-built platform leverages artificial intelligence to deliver a powerful experience for clients. Orennia

• Edmonton police working with tech company to employ autistic workers' skills to review bodycam footage. Redaction work suited to employees with autism spectrum disorder, IT company says. CBC News

• Varcoe: Alberta sizes up $100B data centre opportunity, but says 'bring your own electricity.' Come to Alberta — but be prepared to build or bring your own power. Calgary Herald

• Alberta seeks to accelerate adoption of autonomous agriculture solutions in Canada. Alberta Innovates is utilizing smart farm networks to foster collaboration between farmers and technologists. Calgary.Tech