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Cisco to invest $100 million in a new Toronto Innovation Centre

Major news out of Cisco today: Toronto is one of the four cities internationally that has been selected to host a new Internet of Everything Innovation Centre. (The other cities on the list: Rio de Janeiro; Songdo, South Korea; and a yet-to-be-named city in Germany.)

The 15,000 square foot facility will be part of Cisco's new headquarters, slated to open as part of RBC WaterPark Place in 2015. The $100 million investment in the innovation centre will be spent over 10 years, encompassing design and infrastructure, start-up costs, and ongoing staff and operations.

What, you may be wondering, is the "Internet of Everything"? It's basically just Cisco's term for the growing integration of new systems and aspects of daily life into the internet—the next iteration of the internet's penetration into our lives, and the next layer of connectivity that will generate.

"Today less than one per cent of the things that could be connected, are connected on the internet," explained Cisco Canada president Nitin Kawale when announcing the investment Wednesday morning. "Imagine what's possible if the remaining 99 per cent of things were connected."

The innovation centre will be devoted to exploring some of that potential new connectivity, "a place for our partners, customers, established companies, and start-ups from across North America to work together," Kawale said. "Toronto is a world-class community of creativity and talent. This facility will be a global hub of innovation for the Internet of Everything technologies. It puts Toronto and Cisco on the world stage."

Back in December Cisco also announced that it would be creating "up to 1,700 high tech jobs" in Toronto, with a total employee base of up to 5,000 in the region.

Toronto's Deputy Mayor, Norm Kelly, was on hand for the announcement. "When I look around this room to see the sampling of the technology that you're working with today and what it might be like tomorrow—it's mind-boggling. It really is."

Writer: Hamutal Dotan
Source: Cisco Canada

Who's Hiring in Toronto: Fringe Festival, dandyhorse, the CBC, and more

The most interesting of the opportunities we've come across this week:

Ecommerce company Shopify, though based in Ottawa, has several openings right now in their Toronto office. Among the positions available: a Ruby and a front-end developer, in the engineering department; a designer, an SEO manager, and a product manager.

Looking for some serious strategic technical help: Bell Media, which is on the hunt for a new manager of digital platforms for TSN. Also in media, the CBC is seeking a new media librarian to research, manage, and catalogue audio content.

In the cultural sector, the Toronto Fringe is looking for a youth outreach coordinator; the post is a full-time seasonal opportunity (April to July) for an emerging arts administrator with less than five years of experience. Meanwhile Ballet Jörgen Canada, a Toronto-based company that also has hubs in Ottawa and Halifax, is looking for a marketing services coordinator.

Finally, local cycling magazine dandyhorse has two opportunities for new journalists—the positions aren't fully compensated, but do come with small stipends. The first opening is for a web editor who is available for about 10 hours a week; the second is for an assistant editor/production manager to help with the spring/summer issue, and has at least 10 hours a week to contribute from March to June.

Do you know of a creative and innovative job opportunity? Let us know!


Young innovators awarded new provincial grants

When Kathleen Wynne's government unveiled its first budget last year, one focus was on youth jobs initiatives: it included $295 million over two years to boost youth employment, innovation, and entrepreneurship. Among the projects in that youth job strategy: a Youth Investment Accelerator Fund, which would give up to $250,000 each to tech-based companies whose founders are less than 30 years old.

This month, the Youth IAF announced the first four recipients of funding through the program—all of which are based in Toronto. Those recipients:

  • PUSH, which is working on wearable devices that help athletes train more effectively by providing real-time feedback about their performance. PUSH is an alumni of MaRS.
  • Rubikloud, a B2B tool which uses e-commerce data to yield insights into purchasing patterns, sales conversions, traffic changes, and more. Rubikloud also came up through MaRS.
  • SoapBox, an employee engagement tool that was developed with the support of Ryerson's Digital Media Zone and whose clients now include RBC and and Indigo.
  • Greengage, which comes out of Rotman's Creative Destruction Lab. Greengage focuses on helping organizations meet their sustainability goals by giving employees the tools to do things like monitor and reduce the environmental impact of their behaviours.
The Youth IAF's main goal is to accelerate commercialization of young tech-based companies, and in particular those "that have graduated from recognized accelerator programs within the province and Ontario Universities and colleges, or are enrolled with a Regional Innovation Centre under the ONE program."

Applications are available online and accepted on a rolling basis.

Writer: Hamutal Dotan
Source: Ministry of Research and Innovation

Youth Social Innovation Fund seeking applicants

Found in 2012, the Youth Social Innovation Capital Fund (YSI) has been offering micro-loans, as well as non-financial resources, to help support social entrepreneurs as they develop their ventures. An impact investment fund, YSI focuses on what's called a triple bottom line: ventures that generate social and environmental returns, as well as financial ones.

YSI is currently accepting applications for a new round of potential investment recipients; the deadline to submit applications is nearing. However, you have until February 28 to make your case.

One previous recipient provides a case study for the kinds of projects YSI aims to support: a Toronto organic farm called Fresh City Farms. The farm grows and delivers pesticide-free produce to Torontonians, but was facing several barriers to growth. They received a $10,000 loan from YSI in 2013, which enabled them to both improve their packaging and develop a new online ordering system to reduce costs and improve their customers' experience.

In order to be eligible, YSI applicants must be between 18 and 25, and must already be operating a social enterprise, either not-for-profit or profit. Successful applicants will receive between $1,000 and $10,000 in investment, along with mentorship and other forms of support.

Writer: Hamutal Dotan
Source: Syeda Zaki, Finance Director, Youth Social Innovation Capital Fund

Who's Hiring in Toronto: Second City, LEAF, Cycle Toronto, and more

The most intriguing of the opportunities we've seen this week:

The Pan Am Path is one of the legacy projects those games will leave for Toronto: a continuous trail for biking, walking, and recreational activites running through from one end of Toronto to the other. PanAmPath.org, which is spearheading the legacy project, is looking for a fundraising and partnerships consultant to develop high-level strategy, work on grant applications, and develop sponsorship packages.

Another community-led initiative: Cycle Toronto, which tackles cycling issues in the city. They are looking for a membership and ward advocacy manager to help meet general growth targets and foster engagement in specific parts of Toronto.

TechSoup helps lower the barriers for social change organizatons who are trying to make the most of technology. They are looking for an administrative assistant to help with day-to-day operations—ideally someone with facility in French. Also looking for administrative support is urban forestry group LEAF, which is hiring a residential plantings program assistant to handle front-line service, data entry, and other office tasks.

Non-profit Street Kids International needs some help right now. They are looking for a finance and operations manager to handle all budgeting and risk-mitigation; candidates should have two to five years of relevant experience.

Toronto's getting a new major cultural institution this year: the Aga Khan Museum, dedicated to Islamic culture and art, is opening its doors later in 2014. They are hiring a technical director to oversee all technical needs with regards to performing arts that will be taking place there. The initial placement is for a three-month part time stint; if things go well this can lead to permanent full-time work as the facility opens to the public.

A cultural institution that's already well-established, the Gardiner Museum, has two openings right now: one is for a marketing coordinator, for a 12-month contract position, and the other is a development and programs assistant,
to support the organization's fundraising efforts.

Finally in the cultural sector: the heart of comedy in Toronto, The Second City, is looking for a part-time marketing and communications coordinator. It's a junior position; applicants should have one year of relevant experience.

Do you know of a creative and innovative job opportunity? Let us know!

Ryerson prof finds that gender-diverse groups produce better science

Trying to improve gender diversity in organizations started out as a question of equity and justice—it was just the right thing to do. But there's been a growing body of anecdotal evidence that it actually may lead to not just different but better decsion-making. A Ryerson professor, along with some colleagues at Rice University in Houston, decided to research that issue more formally. They've just issued  the results of a study they conducted looking at the impact of gender diversity in the conduct of science, specifically.

The upshot: "Here we present the first empirical evidence," the authors write, "to support the hypothesis that a gender-heterogeneous problem-solving team generally produced journal articles perceived to be higher quality by peers than a team comprised of highly-performing individuals of the same gender."

In short: scientific investigations conducted by gender-diverse teams tend to produce work that is independently assessed to be better than work produced by teams that aren't diverse.

Lesley Campbell is a professor in Ryerson's department of chemistry and biology. "Gender diversity, at a minimum, improves the likelihood that you are going to be doing effective science," she said in a statement explaining her work. "Gender diverse groups and groups that are diverse in a variety of ways might actually be more effective ways to do team science and team work.  We now have scientific evidence to back that suggestion up."

Her study analyzed work produced by 157 research groups from a California-based ecological institution, spanning 1997-2006. Work produced by gender-diverse teams were cited 34 per cent more than homogenous teams; that work was also deemed to be better quality during the peer assessment process.

"We all come to the table with different ways of problem solving," Campbell says. "It’s not just about the facts that we know but the way that we do things really does differ between men and women…There are very different ways that groups with gender diversity complete things."

Writer: Hamutal Dotan
Source: Gender-Heterogeneous Working Groups Produce Higher Quality Science (Study)

New study looks at Toronto region's economic competitiveness

The Global City Indicators Facility, a research program based at the University of Toronto, has just released a study looking at the Toronto region's competitiveness and prosperity. The goal: offer a regional perspective on economic development opportunities in the GTA. The challenge: it's very hard to actually know how we are placed, as a region, because the Toronto region is a patchwork of municipalities, and there isn't an established, consistent way of reporting and sharing relevant data.

The Toronto region is made up of dozens of municipalities, with different governing structures. Some are single-tier, like Toronto, which operates as its own city. Others are dual-tier, for instance Ajax, which falls under Durham Region. This patchwork of systems makes it very difficult to aggregate data for the region and conduct the kind of analyses we need, the report found.

"The uneven distribution of characteristics across [a] region," reports the study, "can point to areas where improvements can be made to increase the competitiveness of the region as  a whole." For instance, one map the study put together "shows how commercial and industrial areas are distributed across municipalities, which can point to strategic locations for international firms and also places where local governments might want to make land available to improve employment opportunities."

That's precisely the sort of analysis we need to be able to do more of, if we are to grow as a region, rather than fall prey to intra-regional fights—as sometimes happens when various GTA municipalities vie, for instance, to be the home of a new corporate head office.

In the absence of this robust data, it's difficult to fully assess the local picture and identify opportunities for regional enhancement, much less compare the Toronto region to economic activity elsewhere: "The Pilot has demonstrated the need for a coordinated data platform for municipalities in Ontario," the study says.

As a next step, the Global City Indicators Facility is calling for the creation of an Ontario Municipal Open Data Platform, which "will become a strategic base of data and information to guide policy on trade and investment and build globally competitive cities in Ontario."  It would pull information from all levels of government and relevant agencies—ranging from Statistics Canada, to provincial ministries, to local municipalities, to regional initiatives like the Ontario Municipal Benchmarking Initiative (OMBI)—and use it to generate widely available data sets that would allow for open, and sophisticated, regional economic analysis.

Writer: Hamutal Dotan
Source: Data, Boundaries, Competitiveness: The Toronto Urban Region in Global Context (Study)
Correction: We originally mistyped OMBI as OMB, which refers to an entirely different agency. We regret the error.

Who's Hiring in Toronto: The Stop, York University, and more

The most interesting of the opportunities we've seen this week:

Innovative food security organization The Stop has two posts open right now. One is a 12-month contract position for a greenhouse coordinator, to oversee their 3,000 square foot facility; knowledge of organic growing practices is a must. They are also looking for a full-time outreach and engagement coordinator with a minimum of three years of relevant experience.

For those with an interest in higher education, York has a couple of interesting opportunities right now. The University needs an assistant director of recruitment for the executive MBA program; applicants should have at least five years of relevant experience (which can include sales or business development) and must be comfortable with frequent travel. The Faculty of Graduate Studies is also looking for a communications manager; that post also requires at least five years of experience.

In publishing, Penguin Random House is looking for a digital project coordinator, to help organize new digital development and outreach.

The Ontario Nonprofit Network, which works with over 46,000 nonprofits across the province, is hiring a labour force project lead to oversee the implementation of ONN's labour force strategy. The position is for an 18-month, part-time contract.

There are also a slew of organizations looking for communications and marketing help right now. First up is the Ronald McDonald House, which provides accomodation for children and their families when they come into town for medical treatment. They are looking for a communications officer to handle all facets of their communications, including social media. Tides Canada, which works on environmental issues across the country, is hiring a communications and marketing manager for a one year parental leave vacancy. The year's key projects will be overseeing the development of a new organizational website, and the roll-out of a new visual identity. The Make-A-Wish Foundation is seeking an online marketing and communications officer with at least three years of experience, to handle both internal and external engagement. Finally, Harbourfront Centre is looking for a communications and marketing assistant, specifically to promote year-round literary programming.

Do you know an innovative or creative job opportunity in Toronto? Let us know!

Ontario launches new venture capital fund

Many Canadian entrepreneurs, both anecdotally and in industry surveys, lament the lack of funding for early-stage ventures that's available here, relative to what they can find south of the border. 

One new development that may at least begin to help with those concerns: late last month Premier Kathleen Wynne announced that the province, in conjunction with the federal government and several private sector partners, has launched a new venture capital fund. The Northleaf Venture Catalyst Fund had a total of $217 million in commitments at its first closing, and is aiming to hit $300 million in short order.

In order to raise the starting pool of money the provincial and federal governments are matching private investor contributions (one dollar for every two the private sector invests), up to a total of $50 million each. The fund takes its name from Northleaf Capital Partners, the Toronto-based firm that is managing it. It is a "fund of funds"—a fund that invests in other funds—and is in addition to (not a replacement for) the existing Ontario Venture Capital Fund. The latter launched in 2008 and has, according the provincial government, "attracted $872 million in private sector capital while creating and retaining 1,500 jobs in the province."

The Northleaf Catalyst Fund is the first provincial fund launched under the federal governments Venture Capital Action Plan, which was announced a year ago, and which will distribute $400 million over the next 7-10 years.

Writer: Hamutal Dotan
Source: Office of the Premier

Want to play with a 3D printer? Head to the public library

"Toronto Public Library provides free and equitable access to services which meet the changing needs of Torontonians. The Library preserves and promotes universal access to a broad range of human knowledge, experience, information and ideas in a welcoming and supportive environment."
That's the mission statement for Toronto's library system, and they want you to take the "changing" part of it seriously.

Though many of us think primarily of books—the old-fashioned paper-and-ink variety—when it comes to the library, TPL has been exploring digital technology for some time, and ramping up those digital forays in recent years. They've already got robust e-book and digital magazine programs, and are exploring a Netflix-like video streaming service as well. For years, and especially for Torontonians who can't afford computers or internet connections, they've provided online access. Their latest venture: two digital innovation hubs—one at the Toronto Reference Library, and one at the soon-to-be-open Fort York branch.

Among the tools available there, and creating a lot of excitement: 3D printers.

The two hubs are a combination of maker space and digital media labs; also available will be HD cameras and green screens, computers with video editing and design software, and classes on subjects like Photoshop and web design.

As with those traditional print books, the goal is to make learning accessible to all Torontonians. "These are critical literacy skills that people are going to need to move forward," says Paul Trumphour, access and information manager for the Reference Library.

By offering these new technologies, and helping people understand how to use them, the library is supporting another kind of literacy—and one that is becoming increasingly vital to employment and creative enterprises. He cites, for instance, how many more men than women still enrol in STEM (science, technology, engineering, and mathematics) programs, saying that "one of the ways to encourage young women to do this is to provide opportunities outside of the curricular experience… we think that's a role the library can play and should play."

About those 3D printers: staff will be on hand to help, and the library will be running workshops in how to design 3D objects. There are two at the Reference Library: one will be first come first served, and the other you can book in advance for a block of up to two hours. As for how they'll manage the inevitable waiting list, Trumphour chuckles, "we'll have to figure that out as we go."

Writer: Hamutal Dotan
Source: Paul Trumphour, Access and Information Manager, Toronto Reference Library

Who's Hiring in Toronto? The AGO, CBC, and more

The most interesting of the opportunities we've seen this week:

There are a number of organizations looking for fundraising and development help right now. The Centre for Addiction and Mental Health (CAMH) Foundation needs a senior development officer with a specific emphais on major gifts.

In the arts sector, theatre company Canadian Stage is also looking for a senior development officer, to focus on corporate sponsorships and philanthropic partnerships. The Literary Review of Canada—a charitable organization that publishes a books, culture, and politics magazine of the same name—is looking for a development manager with at least three to five years of experience. Also, the Glenn Gould Foundation, a non-profit that promotes music and creativity, needs an administrative and development coordinator for a full-time temporary contract.

In related news, the National Speakers Bureau, an agency that represents public figures in news, sports, arts, and politics, is looking for someone to join their business development team—and in particular, someone with experience in sales and lead generation.

Zeidler Partnership Architects is looking for a proposal and marketing coordinator to work on that firm's visual identity, website, and marketing collateral.

Canada's public broadcaster, the CBC, is looking for two mobile developers with a focus on iOS, to layer new features into existing news and sports apps.

For the arts lovers, the Art Gallery of Ontario is hiring a manager of young audience engagement to oversee all programming for families, school groups, and other young visitors. It's a full-time contract, for up to one year. Also in youth engagement, the Toronto Public Library is hiring a project manager to work specifically on spoken word programming for youth as part of the build-up to the Pan Am Games.

Finally, in senior hires, regional transit agency Metrolinx is looking for a manager of sustainability. Candidates should have at least eight years of experience in a strategy development role.

Do you know an innovative or creative job opportunity in Toronto? Let us know!

New report: mobile apps and Ontario's creative industries

We all know that the shift to digital technology in general, and more recently the shift to mobile technology in particular, is remaking many businesses and economic sectors.

In an attempt to better understand some of these changes, the Information and Communications Technology Council (ICTC) has just released a new report looking at the role of mobile app development in Ontario's creative industries: books and magazines, film and TV, and music. Collectively, these industries generate $14.5 billion in annual revenue.

Among their findings, which are based on surveys completed by industry representatives in the summer and fall of 2013:

  • Half of all respondents already use mobile apps in their businesses; another 31 per cent plan to incorporate them "in the near future." 

  • Mobile app use isn't evenly distributed within the sector: as expected, a very high percentage of those in the digital media industry have incorporated apps into their businesses (64 per cent), compared to magazines (55 per cent); books (47 per cent); film and tv (39 per cent); and music (32 per cent).

  • A large majority (68 per cent) of respondents use their apps as content distribution channels. Of all respondents, 43 per cent have so far seen an increase in sales and revenues in response to incorporating apps into their businesses. This is counterbalanced, however, by the reality that total benefits are right now very hard to measure: only 7 per cent of the respondents who have adopted mobile apps in their businesses reported "any measurable benefits," though the report's authors caution that this "may well be the result of difficulty in measuring the return on investment of mobile apps adoption…as opposed to not getting any discernible benefits from adoption."

  • About half (48 per cent) of respondents who have adopted mobile apps report that their operating costs stayed the same; 35 per cent said their operating costs went down, and the average operating cost reduction was 9 per cent.

  • As far as building the apps goes, 17 per cent of creative industry businesses do their development in-house, 44 per cent contract development out, and 39 per cent do a combination of both.

  • The report estimates that 3,300 new jobs have been created in Ontario's creative businesses as a result of mobile app development and adoption: 55 per cent are full-time, 21 per cent part time, and 24 per cent contract. Toronto, predictably, is the centre for this activity: 40 per cent of the province's mobile app jobs overall are located here.
ICTC's report also looked at the barriers to mobile. "Currently, the biggest hindrance to adoption of mobile apps," the report, says, "appears to be lack of monetization of adoption benefits, with a third (37 per cent) of the enterprises stating that they are aware of the functionalities of mobile apps, but not yet convinced of their value. Other hesitations stemmed from respondents being unfamiliar with the industry, the technology options available to them, previous bad experiences with app development, and concerns about their clients' readiness to use mobile."

Writer: Hamutal Dotan
Source: Mobile Apps: Generating Economic Gains for Creative Media Industries in Ontario

Medical accelerator signs major new strategic deal

Back in 2010 the Ontario Institute for Cancer Research (OICR) and MaRS Innovation came together to form a new cancer-focused accelerator. Called Triphase, in October, 2012 that accelerator quietly closed a collaboration deal with major biotech company Celgene—a deal that has just been publicly announced.

Triphase focuses on developing oncology therapies, taking them through the early phases of that process, including initial funding, industry advice, and clinical proof-of-concept work. Their goal is to help new therapies complete this process in under three years. Products that make it through the accelerator will then be sold or licensed, on their way to full commercialization. Some key terms of the deal—including the amount Celgene paid upfront to gain access to Triphase's products—haven't been disclosed, but we do know that Celgene has acquired the right of first refusal on Triphase's first three products, plus negotiation rights on three more cancer therapies.

"For the last year or so, we've basically been accumulating assets [i.e. potential new therapies], and running drug development processes around those products," explains Triphase CEO Frank Stonebanks, about the 15-month gap between when the deal with Celgene was signed and when it was announced.

Triphase has now acquired one product in particular that they are excited about, and has been working on trials, cleaning up the data from the company that originally developed the therapy, and generally doing some groundwork. Now that the Celgene deal has been announced, Triphase is focusing on expansion, including potentially expanding beyond oncology entirely.

With facilities in both Toronto and San Diego, and experience working on both sides of the border, Stonebanks has developed an appreciation for the differences between the two business cultures. A Canadian, he originally left here in 1995 "for basically all of the [usual] reasons: I could not find the intellectual, economic challenges that I wanted… Then the OICR recruited me and I came back in 2010. That's a good sign, the tide is starting to turn."

Now back in the States, Stonebanks says that we do "a great job on early science and technology, but translating that into actionable value—that's where Canada has frankly fallen short over the years." That may be something to work with rather than worry about, however: "I think we need to be a little honest with ourselves with what we don't do well… We live in a global economy, don't have to have all manufacturing here, all aspects of development here. It's not a flag-waving exercise; you need to do what's right for your business."

Writer: Hamutal Dotan
Source: Frank Stonebanks, Founder and CEO, Triphase Accelerator Corporation

Who's Hiring in Toronto? The Walrus, Park People, and more

The most interesting of the job opportunities we've spotted this week:

If you're a developer with an interest in media, The Walrus has a great opening. The national magazine is looking for a digital production developer to work on content creation, tablet production, and its user account system. Meanwhile, small publisher Coach House Books is looking for a new publicist to handle all facets of its marketing and promotions. Also in promotions, the Centre for Social Innovation is seeking a new communications animator to tell the organization's story, tackle social media, and keep an eye on analytics.

Over at TIFF, they're on the hunt for a manager of cinemas to oversee all front of house operations at the Lightbox. It's a position for someone with at least five years of senior front of house experience, and will include hiring and training as well as customer service and internal liasing.

For those with an interest in environmental issues, the Canadian Environmental Law Association (CELA) needs a new librarian and administrative assistant, for tasks ranging from archive management to preparing reports. And Toronto Park People, which is trying to build community engagement around local parks, is filing the brand new position of director of operations. They're looking for someone with at least three years of non-profit management experience.

The Ontario Trillium Foundation awards 1,500 grants a year in the arts, social services, environment, and health sectors, and is seeking to fill two key posts. One is a program manager with a particular focus on the environment. The other is vice-president of community investments, to lead their new impact investment strategy.

Finally, in executive seaches, Imagine Canada, a national umbrella organization for charities, is looking for a president and CEO to head up their 35-person team.  The position is primarily based in Toronto, but some travel to their Ottawa office is also expected.

Do you know of an innovative job opportunity? Let us know.

Medical startup lands $2 million in seed funding

It's one of those ideas that seems entirely obvious in retrospect: provide a forum for medical professionals to share clinical images, so they can have a large pool of resources to draw on when seeking to learn more about certain conditions, and a large pool of expertise to draw on for insight into particular cases.

Three Torontonians came up with just such a forum—a mobile app called Figure 1, the product of a startup of the same name. Figure 1 recently announced that it has raised $2 million in seed funding, to support its next stage of growth.

Figure 1 was started about a year ago by a practising physician, a senior developer, and a Ryerson communications professor. They launched at Ryerson's DMZ—"Ryerson's just really great with innovation and entrepreneurship and flexibility," says co-founder Gregory Levey (he's the communications prof)—and currently have nine full time staff. With the help of the seed funding they hope to double in size within the year.

The new financing will allow Figure 1 to grow in a variety of ways. Their first goal is to expand onto different platforms: they're planning to launch on Android within four or six weeks, and will then move onto a desktop version of Figure 1. They're also looking to expand into other countries; the app is available in Canada, the U.S., Ireland, and the UK at the moment, and Australia and New Zealand are next. (Because the app is for licensed professionals, there are costs involved when they expand to each new country as they need to accommodate a new set of medical regulations.)

Levey's quick to admit they don't have a business model quite yet—Figure 1's focus right now is on building the service and user base. This isn't, right now, worrying anyone: their investors are on board with that strategy. Many of those investors are based in America, though there are some Canadians in the mix as well, and that's reflected in the approach a bit: "I do think there's something of a difference," Levey says of the investment culture in the two countries. "The American ones, especially on the west coast, are really swinging for the fences. The Canadian ones are a little more cautious, a little more risk averse—but that's changing."

Writer: Hamutal Dotan
Source: Gregory Levey, co-founder, Figure 1
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