TORONTO – MaRS has announced the first cohort of Supply Chain AI, an intensive six-month program supporting the emergence and acceleration of high-potential Canadian venture companies building applied AI and intelligent supply chain products and services.
This program, derived from the AI-Powered Supply Chains Supercluster, Scale AI, and created in partnership with the Government of Canada, runs through March 31, 2021.
Supply Chain AI provides a select group of AI-based companies targeting supply chains with access to growth and scale-up business support services, including hands-on advice, mentorship, market insights and subject matter expertise, along with marketing opportunities and critical connections to capital, customers, and talent.
The overall objective is to foster emerging global leaders in supply chain AI technologies and educate the tech ecosystem on the economic potential of AI in supply chain and manufacturing.
The companies selected for the 2020/2021 program are:
- Enkidoo AI
- GRAD4 Inc.
- Nuport Robotics Inc.
- Sedna Tech
- Stream Systems Ltd.
- The Owl Solutions
“Supporting startups is about much more than funding,” says Yung Wu, CEO of MaRS.
“It is an approach to stage-based mentoring and connection with the business community that transforms ideas and technologies into high growth scale-stage companies and, ultimately, the emergence of new leaders in the global innovation economy.”
The Scale AI Acceleration program is aimed at the emergence and growth of startups and SMEs specializing in artificial intelligence for supply chains in Canada, by expanding the reach and scope of the incubators and accelerators that are the key to their success.
In July 2020 Scale AI announced it is backing five new projects with a combined total investment of $29 million, including contributions from the participating companies. Scale AI’s share is $9 million.
In May, Scale AI asked for proposals that would leverage technology and AI to solve challenges posed by the pandemic. CargoM and the Montreal Port Authority obtained funding of $500,000 for a project for the rapid distribution of essential cargo, developed in collaboration with Ivado Labs.