Ontario budget makes $15 million investment in top AI entrepreneurs

NEXT Canada (CNW Group/NEXT Canada)

Provincial funding for the NextAI program will support promising ventures that can create
high-value, high-tech jobs, says NEXT Canada CEO Sheldon Levy

TORONTO,¬†March 28, 2018¬†/CNW/ – The 2018 Ontario budget’s support for artificial intelligence entrepreneurs marks an important step forward for the province’s future economy, according to NEXT Canada CEO¬†Sheldon Levy.

“For¬†Ontario¬†to create lasting, valuable employment, it needs to harness the potential of its best cutting-edge innovators so that it can compete and win on the global stage,” says Mr. Levy. “This money will help entrepreneurs scale their businesses and employ more Ontarians in high-value, high-tech jobs.”

The 2018 Ontario budget, delivered at Queen’s Park this afternoon, includes a targeted investment of¬†$15 million¬†over three years in NextAI, a NEXT Canada program that brings together highly promising AI entrepreneurs, helps them build their firms, and helps other organizations integrate AI-driven technologies into their operations.

The NextAI program supports entrepreneurs launching artificial-intelligence ventures in sectors ranging from healthcare to agriculture to financial services.

“These additional resources will allow us to do more to support the growth of new AI ventures in¬†Ontario,” says Mr. Levy. “Ontario’s¬†public and private sectors have been working closely together to make this province an emerging leader in the field of artificial intelligence, this announcement strengthens¬†Ontario’s¬†position.”

About NEXT Canada

NEXT¬†Canada¬†is a national, non-profit organization that develops exceptional talent to create industry-changing ventures and propel business technology adoption. Founded in 2010 as The Next 36 by a group of pioneering business leaders and academics, NEXT Canada is today a national leader in the delivery of cutting-edge programming designed to foster and support lifelong entrepreneurship in three streams: NextAI, Next 36 and Next Founders. Our programs, delivered through meaningful partnerships between government and the private sector, strengthen the foundations of¬†Canada’scurrent and future health and prosperity.

NEXT Canada is supported by generous National Partners including, EY, Osler Hoskin & Harcourt, and Power Corporation of Canada, and others. The Founding Partners for the NextAI program include BDC Capital, Magna, RBC and Scotiabank.  NEXT Canada also receives operational funding from government partners.

To learn more, please visit: www.nextcanada.com

About NextAI

NextAI is a NEXT Canada program launched to create a world-leading AI ecosystem in Canada by funding, supporting, and mentoring entrepreneurs working on AI technology. The program is open to both Canadian and international students, professionals and entrepreneurs, who are interested in developing and building commercially viable ideas underpinned by artificial intelligence.

To learn more, please visit: www.nextai.com




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