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A global agrifood venture capital firm will make Calgary its Canadian headquarters, with the aim of helping agriculture startups grow.
SVG Ventures – Thrive is coming to Calgary with $2.5 million in funding from the city’s Opportunity Calgary Investment Fund, the provincial government and Alberta Innovates
A global agrifood venture capital firm will make Calgary its Canadian headquarters, with the aim of helping agriculture startups grow.
SVG Ventures – Thrive announced Wednesday they’re setting up in Calgary with up to $2.5 million in funding from the city’s Opportunity Calgary Investment Fund, the provincial government and Alberta Innovates.
It’s the first agriculture technology investment for OCIF, which has a mandate to support development of Calgary’s innovation and tech sector.
OCIF board chair Mark Blackwell said the fund’s contribution will help foster the “agrifood tech renaissance” Canada is seeing, and while it’s the first investment in the sector, it won’t be the last.
“Despite agrifood tech having a blowup year in 2020 … Canada represented only 1.55 per cent of total capital investment in technology in comparison to our peers across the globe,” he said.
OCIF and Alberta Innovates are contributing $1 million each, while the provincial ministry of agriculture and forestry is giving $500,000 in grants to Olds College to support the Thrive Canada accelerator.
The OCIF agreement will see Thrive Canada select and mentor at least 25 Canadian agrifood startups. That includes a target of four Calgary-based companies and 10 additional companies in Alberta.
Thrive Canada will also hold two investment forums alongside the Calgary Stampede so Canadian agricultural technology startups can get more exposure to investors.
The company’s founder and CEO John Hartnett said technology and innovation is crucial for finding solutions to sustainably grow food for the world’s population.
“$26 billion has been invested across this space over the course of the last year, in a year that’s been really challenging for everybody,” he said.
“There’s also been an increased focus on key areas around food supply chains, renewed priority around climate change, net zero and sustainability, and even a greater focus on the UN sustainability goals.”
SVG Ventures is planning to raise a Canadian fund by 2022 to invest in Canadian agricultural startups, and Hartnett said part of the goal is to put Alberta-based companies on the radar for global investment.
“If entrepreneurs can go solve some of these challenges, it really helps farmers do more with less in a sustainable way,” he said.
“With entrepreneurs, we’re obviously not just investing, but we’re creating an ecosystem and creating a platform to grow and scale those companies.”
Thrive is starting out hiring three people, with plans to expand their platform.
Hartnett said Calgary was chosen for their Canadian base partly because of a strong talent pipeline of entrepreneurs. They also wanted to set up in a place where agriculture is a strength.
Alberta Minister of Jobs, Economy and Innovation Doug Schweitzer said the growth of technology companies in Alberta is an encouraging sign for the future.
“It’s quite an exciting time for us to see Alberta get on the map, and working with a partner like Thrive internationally is key for us and our entrepreneurs to learn quickly, get that mentorship fast and access global markets.”
Mayor Naheed Nenshi added agriculture has always been a crucial piece of Alberta’s economy, and it’s a good move to invest in opportunities to solve global food challenges.
“It’s the right thing to do from an economic perspective; it’s the right thing to do from a social development perspective. It’s one of the most powerful anti-poverty tools we have.”
Twitter: @meksmith
Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
The updates to probate law make a big difference for Canadian families. Here’s why.
With these changes, probate becomes smoother and more manageable for you and your family.
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
These simple steps make the probate process easier for everyone involved.
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets climbed to their best week of the year.
“It’s been almost a complete opposite or retracement of what we saw last week,” said Philip Petursson, chief investment strategist at IG Wealth Management.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
While last week saw a “healthy” pullback on weaker economic data, this week investors appeared to be buying the dip and hoping the central bank “comes to the rescue,” said Petursson.
Next week, the U.S. Federal Reserve is widely expected to cut its key interest rate for the first time in several years after it significantly hiked it to fight inflation.
But the magnitude of that first cut has been the subject of debate, and the market appears split on whether the cut will be a quarter of a percentage point or a larger half-point reduction.
Petursson thinks it’s clear the smaller cut is coming. Economic data recently hasn’t been great, but it hasn’t been that bad either, he said — and inflation may have come down significantly, but it’s not defeated just yet.
“I think they’re going to be very steady,” he said, with one small cut at each of their three decisions scheduled for the rest of 2024, and more into 2025.
“I don’t think there’s a sense of urgency on the part of the Fed that they have to do something immediately.
A larger cut could also send the wrong message to the markets, added Petursson: that the Fed made a mistake in waiting this long to cut, or that it’s seeing concerning signs in the economy.
It would also be “counter to what they’ve signaled,” he said.
More important than the cut — other than the new tone it sets — will be what Fed chair Jerome Powell has to say, according to Petursson.
“That’s going to be more important than the size of the cut itself,” he said.
In Canada, where the central bank has already cut three times, Petursson expects two more before the year is through.
“Here, the labour situation is worse than what we see in the United States,” he said.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
— With files from The Associated Press
This report by The Canadian Press was first published Sept. 13, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
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