Welcome to BetaKit’s startup stories of the week! Here, you will find the week’s most important news, features, and editorials published on BetaKit.

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Top Stories of the Week

Layoffs persist at Canadian tech companies amid bleak outlook for 2023

More than a dozen Canadian tech companies have recently laid off employees, BetaKit has learned, joining a growing list of firms to shed staff in 2022.

Statements from Alberta innovation minister cast doubt on return of investor tax credit

In a recent interview with BetaKit, the minister spoke about his goals for the new role, noting areas he plans to focus on and others he does not: such as the Alberta Investor Tax Credit (AITC).

New BC innovation minister Brenda Bailey lays out how she plans to support province’s tech, innovation

Bailey has taken over BC’s innovation agenda from Ravi Kahlon, a fellow member of the province’s New Democratic Party, who has been reassigned to lead BC’s newly created Ministry of Housing.

Founding CEO of agtech unicorn Semios stepping down

Gilbert announced the move on LinkedIn on Friday, and the search for a new Semios CEO is currently underway. While Gilbert is leaving as CEO he will remain on Semios’ board.

The Upside Foundation appoints Juanita Lee-Garcia as new executive director

According to Lee-Garcia, the leadership change comes at “a pivotal time” in Upside’s history. 

Does scaling your startup feel like constant chaos? Here’s what to do.

Successfully moving away from autocratic leadership requires the right kind of communication.

Golden Ventures’ Matt Golden has advice for startups fundraising in a down market

Investors who have recently raised enormous funds over the last two years still need to disburse that capital. According to Matt Golden, founder and managing partner of Golden Ventures, what changes are the variables that matter to investors.

Latest Funding, Acquisitions, and Layoffs

VAN – Evok Innovations/Raven Capital/Yaletown Partners via InBC (read more)

CAL – Movement51 and CIWA secure $861,980 (read more)

TOR – Plooto – $27M (read more)

TOR – Shabodi – $14M (read more)

TOR – KeyOps – $4M (read more)

TOR – Frate – $2M (read more)

MTL – Nesto – $80M (read more)

MTL – Innovobot secures $14M for target $40M fund (read more)

MTL – Nearbuy and Esspera secure $35K (read more)

QC – Ferme d’Hiver – $46M (read more)


From Ada Support to Neo Financial, Canada’s top startups build on AWS. But they didn’t do it alone. So whether you’re looking for help solving a technical challenge, hiring the right engineers, or finalizing a fundraising round, we have all the resources you need to get started. There’s a reason more startups build on AWS than any other provider: we’re here to help you succeed, from inception to IPO.

Learn more and start your cloud journey with AWS today!


“There was kind of an ‘aha’ moment last May. And it triggered a conversation that I believe was really frank on both sides.”

CVCA CEO Kim Furlong joins to discuss the comments she made in May about the future of VCCI, the potential renewal of that program, selling its value to policymakers, and what Canadian venture will look like in 2023.


“If this is the environment we’re in today, what should we do?”

Aleeza Hashmi (Bessemer), Michelle Yu (Georgian), and Laura Lenz (OMERS) join BetaKit senior editor Meagan Simpson for a conversation about why the beginning of 2023 will be just as hard for startups to fundraise in. Recorded live at SAAS NORTH on the BetaKit Keynote Stage.

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The post Canadian startup news of the week (12/18/22) first appeared on BetaKit.

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