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To tackle the conundrum of inconsistent, inadequate capital, Jenuth suggests the key might lie in creative collaborations between funders such as family foundations and philanthropic organizations. For instance, the Cancer Breakthrough Fund, a joint effort from Lumira and the Terry Fox Foundation, will help close the gap for donors who want to make a more long-term impact and invest in research and other initiatives that are further along in development, says Jenuth. This partnership leverages Lumira鈥檚 network of funders as well as the Terry Fox Foundation鈥檚 reputation and depth of knowledge.

Jenuth believes that high-level changes could make a difference. She says Canada should create better tax incentives to encourage investment in health innovation, allow VC firms to work with pensions and other funds that scale capital, and amend patent legislation to reduce barriers for clinical trials, which would help ventures become more competitive on the global stage. Despite the existing obstacles, Jenuth sees great opportunities for prospective investors: in Canada, life sciences ventures see the greatest returns of any sector. This growth is related to societal shifts: as people live longer, more complex chronic conditions are emerging, and there is increased demand for new drugs, procedures and medical devices to improve the quality of life for aging and ailing individuals.

Carney鈥檚 cabinet includes an eye on AI

When Prime Minister Mark Carney unveiled his new cabinet this week, it included 海角社区官网Centre MP Evan Solomon, Canada鈥檚 first federal minister of artificial intelligence and digital innovation. Under previous governments, AI was included in the Industry portfolio; PM Carney鈥檚 decision to establish this new ministerial post could be seen as a reflection of his belief in the economic potential of AI, a theme that came up on the .

Mobility Unlimited Hub expands

The Mobility Unlimited Hub, launched by the (TMF) in 2024 in partnership with MaRS Discovery District, provides scale-up support and resources to startups developing personal mobility solutions. The TMF has just for submissions from ventures around the world to join its second cohort. Applications close June 12.

Woman-owned ventures LevelUP

As the culmination of a 12-week business accelerator program, Innovation Cluster Peterborough and the Kawarthas hosted its third , where . The panel of judges awarded the $10,000 grand prize to , a platform for parents and home daycare providers, while second place (and $5,000) went to , a 海角社区官网company developing a naturally derived patch to relieve menstrual pain.

New AI integration for online shoppers

Toronto-based a startup that provides artificial intelligence search functionality for online retailers, has powered up a new integrated relationship for Shopify and ChatGPT. Companies who use Ecomtent鈥檚 services will be able to reach a wider audience by having their product listings featured in ChatGPT Shopping.

Breakthroughs in reproductive health screening

Major news for anyone who cringes at the thought of a speculum: the聽, an at-home test that screens for HPV, the virus that causes nearly all cervical cancers. It鈥檚 a significant development in the search for alternatives to standard Pap smears 鈥� the clinical default for HPV screening. While the Teal Wand was previously vetted for use by doctors, the latest approval will allow individuals to collect and send in samples from the comfort of their own home. This technology is part of a larger trend in tech to give women more agency in monitoring their own health. Waterloo-based startup , for instance, recently won more than $44,000 in the pitch competition. The company aims to use nanomaterials embedded in menstrual products to capture and preserve DNA and other indicators from blood, which would then be used to screen for HPV and other diseases.

By the numbers

$1 million: that Ayrton Energy received as a grand prize winner of the Liveability Challenge 2025. The money will help the company launch a project in Singapore 鈥� its first in the region.

$20 million: 惭辞苍迟谤别补濒鈥檚 has raised in its Series A fundraising round. The cleantech company wants to transform legacy mining waste into sustainable materials that capture CO2.

$110 million: by Vancouver-based for its third early-stage climate tech fund. The fund invests in startups developing solutions for circular and shared economies, clean energy and transportation, infrastructure and carbon solutions, and sustainable food and water.

Rebecca Gao writes about technology for聽. Torstar, the parent company of the 海角社区官网Star, has partnered with MaRS to highlight innovation in Canadian companies.