University of Alberta looks for $50 million

Plus, 13 other stories you might've missed.


Welcome to this week's Sunday Briefing. In this issue, read about the University of Alberta’s new innovation fund, plus 13 other stories you might’ve missed. Have a great day. We'll see you again on Wednesday.

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🗳️ Question of the Week

Has anyone in your network been affected by layoffs?

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3 reasons to ditch traditional expense reports (and a better alternative)

Expense reports have long been a staple of corporate financial management, but their drawbacks are increasingly hard to ignore. Here are 3 reasons why your company should consider ditching them:

  1. Time-Consuming: Preparing & reviewing expense reports is a time-intensive process. Employees spend valuable hours documenting expenses and managers must painstakingly review each submission.

  2. Error-Prone: Manual entry often leads to errors, from miscalculated amounts to missing receipts. These mistakes can result in inaccurate financial records and potential compliance issues.

  3. Lack of Real-Time Visibility: Expense reports provide a retrospective view of spending, making it challenging to track expenses in real time. This delay can hinder proactive cost control.

Float offers a better alternative - one that both finance teams and employees prefer. To learn more visit the website.

🤝 Funding, Deals + Partnerships

  • University of Alberta targets $50 million with new innovation fund, announces first investment in AI system control startup. The university plans to reinvest returns from the donor-fuelled fund into “future innovations.” Betakit

  • Scription raises $2.5M in funding. The Edmonton-based commercial maintenance startup intends to use the funds to launch and onboard anchor customer brands. Finsmes

  • Agtech startup HEMPALTA going public to grow its brand. HEMPALTA is an agricultural technology company focused on innovative hemp processing and product creation. Calgary Tech

  • U of A launches new fund to ignite innovative ideas. Donor-supported fund will invest in startup ventures solving complex challenges and diversifying Alberta’s economy. University of Alberta

  • Video: 1st U of A innovation fund recipient aims to improve drinking water quality using artificial intelligence. RL Core Technologies’ idea is to improve sustainability and clean water by using artificial intelligence. Global News

  • “Cooler financing environment” leads StellarAlgo to restructure and make layoffs. Twenty-one employees laid off could represent nearly one quarter of Calgary startup’s headcount. Betakit

📰 Need To Know

  • Northstar commences detailed engineering design for Empower Calgary facility. Work begins on the planned asphalt shingle reprocessing facility. Northstar Clean Technologies Inc.

  • Cameco mourns loss of long-time Board Chair Ian Bruce. Bruce also served as founding Board Director of the Opportunity Calgary Investment Fund. Financial Post

  • Provincial digital strategy should be a priority for Alberta’s government in 2024. Away from the energy cycle roller coaster, Alberta has become home to promising start-ups, attracted tech company head offices from other jurisdictions, and produced some truly remarkable scale-up firms that are taking on global markets. Council of Canadian Innovators

  • UCalgary research team takes on complex virus tracking and modelling. A Schulich School of Engineering professor is hoping to help experts make more-informed decisions with any future virus as he undertakes a new five-year study looking at demographics, geography and more. University of Calgary

  • Video: ‘Caught in the tailwinds’: Alberta clean tech companies’ eye stateside incentives amid political squabbles at home. Alberta is announcing a funding competition with $40 million in grants on offer for emissions-reductions projects of all kinds. Global News

  • Tech executive Bobbie Racette honoured as UVic's Distinguished Entrepreneur of the Year. Racette, who is Cree-Métis, is the founder and chief executive of Calgary-based Virtual Gurus and a brand-new app called VG on Demand. Times Colonist

  • Startup Canada’s 2023 cross-country tour touches down in Calgary. The five-stop national in-person event series connects early stage entrepreneurs with national ecosystem players, local support organizations and industry experts to drive their businesses forward. Innovating Canada

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