Latest news with #seedFunding
National Post
12 hours ago
- Business
- National Post
Life Sciences Ontario Releases New Report Calling for Urgent Action to Bridge Critical Funding Gap Threatening Ontario's Innovation Leadership
Article content TORONTO — Life Sciences Ontario (LSO), in partnership with Shift Health, today released a comprehensive report highlighting the urgent need for targeted intervention to address the critical seed-stage funding gap that threatens Ontario's position as a global life sciences leader. Article content The report, ' Catalyzing Ontario's Life Sciences Economy,' reveals that while Ontario's life sciences sector is a cornerstone of its innovation economy, contributing over $58 billion to GDP and employing over 90,000 highly skilled workers, other provinces and jurisdictions are outpacing Ontario. Without action, Ontario risks losing its competitive edge, as early-stage companies, their intellectual property, and their talent migrate to more supportive markets in the U.S. and beyond. Article content Article content The current geopolitical and economic environment presents both unprecedented challenges and opportunities for Ontario's life sciences sector. Global supply chain disruptions, shifting international partnerships, and increased focus on domestic innovation capacity have created a need for Canadian sovereignty, especially in critical technologies and therapeutics. Strengthening Ontario's life sciences ecosystem is not just an economic opportunity, but a strategic necessity. Article content 'Ontario has built an incredible foundation in life sciences research and innovation, but we're at a critical crossroads,' said Jason Field, President and CEO of Life Sciences Ontario. 'Supporting early-stage life sciences companies drives a ripple effect, benefiting universities, research institutions, health systems, and supply chains across Ontario.' Article content Dr. Field emphasized the importance of building on existing government commitments: 'We recognize and applaud the significant investments the Ontario government has already made in our sector,' referring to the Ontario government's recent $146 million commitment to Phase 2 of the life sciences strategy. 'However, our research shows that targeted de-risking mechanisms for seed-stage companies are critical to ensuring these investments translate into lasting economic impact and job creation.' Article content The report highlights that the 'funding desert' challenge is particularly acute for life sciences startups given higher risks in product development, significant R&D costs, stringent regulatory requirements and a comparatively longer path to market. The early stages of company development are too risky for private capital alone, requiring government intervention through bespoke solutions tailored to Ontario's unique needs. Article content 'Ontario stands at a unique and urgent moment to cement its global life sciences leadership,' said Ryan Wiley, President of Shift Health. 'We have the infrastructure, talent, and innovation capacity – what we need now is the strategic investment to bridge the funding gap and ensure Ontario's life sciences companies can scale and thrive on the global stage.' The report outlines specific solutions including direct seed fund investments, modernized tax incentives for angel investors, and policy reforms designed specifically for life sciences startups' unique requirements. Article content As Ontario aims to reach 85,000 high-value life sciences jobs by 2030 – a 25% increase from 2020 –now is the time to act decisively, bridging the funding gap and unlocking the full potential of our life sciences ecosystem. Article content To access the full report and detailed recommendations, visit About Life Sciences Ontario Life Sciences Ontario (LSO) is a member-funded, not-for-profit organization with a legacy of more than 35 years advancing the success of Ontario's life sciences sector. LSO collaborates with government, academia, industry, and other life sciences organizations in Ontario and across Canada to promote and encourage commercial success throughout the sector. LSO is an effective conduit for delivering policy options to governments and is dedicated to promoting Ontario's life sciences sector internationally. For more information, please visit our website. Article content About Shift Health Article content Shift Health is a leading strategy and advisory consultancy for the health research and innovation ecosystem. Working with governments, academia, industry, not-for-profits, healthcare providers and patient partners across the globe, Shift Health brings more than a quarter century of experience building connections and helping clients create the future of healthcare. Shift Health is distinguished by its people. Scientists by training, Shift Health's team embodies a science mindset, translating rigorous evidence into sharp insights and customized solutions that inform decision-making and drive action. For more information, please visit our website. Article content Article content Article content Article content Article content Contacts Article content Media Contact Article content Article content Sharanya Rajesh Article content
Entrepreneur
14-05-2025
- Business
- Entrepreneur
Adopt AI Raises USD 6 Mn Led by Elevation Capital to Power Agentic Interfaces
Foster Ventures, Powerhouse Ventures, Darkmode Ventures, and several prominent angel investors also backed the seed funding round. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Agentic AI startup Adopt AI has secured USD 6 million in seed funding led by Elevation Capital, with participation from Foster Ventures, Powerhouse Ventures, Darkmode Ventures, and several angel investors. The funding will help the company expand its platform that transforms existing applications into intelligent, AI-driven experiences. Founded by Deepak Anchala, Rahul Bhattacharya, and Anirudh Badam, Adopt AI enables businesses to build and embed agent interfaces into their applications. The platform automates workflows and executes complex tasks through natural language commands, allowing users to interact with software more intuitively. "We are at a pivotal moment in how software is built and experienced," said Deepak Anchala, Founder and CEO. "For too long, users have had to adjust to the rigid workflows of applications. Adopt AI shifts this by enabling B2B and consumer applications with complex workflows to evolve into intelligent agents without the need to re-architect the stack." The company's no-code platform includes an agent builder that learns application workflows and generates actions automatically. It also offers a conversational AI interface that can be embedded within apps or externally, enabling users to complete tasks using natural language. "Our platform integrates with existing applications, transforms them into agent-driven experiences, and ensures users can take actions with natural language—boosting retention and driving engagement, while providing companies full control over the underlying AI technology," Anchala added. The founders previously built Slintel, a sales intelligence platform that raised USD 25 million and was acquired by 6sense in 2021. Adopt AI's team includes former senior engineers from Microsoft and Google, with Chief AI Officer Anirudh Badam bringing over a decade of experience from Microsoft's Seattle HQ. Vijay Sagar, a founding AI engineer, spent 10 years at Google developing machine learning models. "Adopt AI is at the forefront of a transformative shift in how applications engage with users," said Krishna Mehra, Partner at Elevation Capital. "Their innovative approach to empowering applications with intelligent AI agents has the potential to redefine user experiences across industries."
