Artificial Intelligence: Canada’s Scale AI Invests $3.4M in Eight Projects to Fight COVID-19
Scale AI is an investment and innovation hub that receives funding from governments combined with contributions from the private sector.
Scale AI invited projects that can utilize technology and AI to combat COVID-19 in Canada. There was a bumper response, and Scale received as many as 120 applications within three weeks.
Scale AI is a startup accelerator with a mission to develop a world-class Canadian AI ecosystem. It has received $230 million from the Government of Canada and $53.4 million from the Government of Quebec.
The company announced an investment aggregating over $3.4 million in eight projects from the applications received. (Benzinga)
Combating the COVID Crisis
“To face the crisis, we have implemented an exceptional program aimed at developing and financing relevant and effective projects very quickly,” said Julien Billot, general manager of Scale AI. “With projects that include analysis tools for research and clinical trials, coordination of patient services, supply management for drugs, medical equipment, and food and essentials, AI has once again demonstrated its ability to support all sectors in improving their efficiency.”
Projects supported by Scale AI
| Project | Company | Investment | Details |
Optimization of the distribution of diagnostic tests for COVID-19 |
Roche Diagnostics,
division of Hoffmann-La Roche Limited |
$500K | This AI solution will be powered by a robust forecasting model and an allocation optimization engine that takes into account constraints in global supply, as well as national testing capacity and evolving circumstances. |
Intelligent digital assistance system |
Careteam Technologies & FleetOps | $500K | This project aims to equip community organizations and volunteers to document needs and manage interventions in a coordinated manner for vulnerable people |
Rapid distribution capacity of essential cargo |
The Montreal Port Authority and CargoM | $500K | Enables the optimization of identification and prioritization of critical cargo arriving by containers at the Port of Montreal to ensure the rapid distribution of essential goods |
Response to the COVID-19 crisis for home care |
AlayaCare | $297.5K | While home care is turned upside down by the COVID-19 crisis, this solution aims to create a new tool for monitoring the health of both patients and workers. |
Access to resources on COVID-19 through a chatbot |
Dialogue Technologies | $500K | 811 phone lines and telemedicine interventions are multiplying, but nursing teams are not able to meet demand. The project will improve the service of the Chloé automated public chatbot for COVID-19. |
Strengthening deep learning in the search for effective antiviral molecules against COVID-19 |
Mila | $125K | A new deep learning algorithm to exploit the capabilities of artificial intelligence in fundamental research and to transfer this knowledge into applied research. |
Digital framework for clinical trials for accelerated evaluation of a new COVID-19 treatment based on colchicine |
Montreal Heart Institute | $100K | Intelligent infrastructure to oversee clinical trials by optimizing the management of informed patient consent, as well as the capture, filtering, and analysis of data from a treatment evaluation study based on colchicine to reduce mortality from COVID-19. |
CDL recovery program |
Creative Destruction Lab | $500K | To enable start-ups to face the challenges posed by COVID-19 in terms of public health and economic recovery. |
Related Story: Venture Capital: A Partnership to Promote Innovation in Canadian AgTech
Latest Alternative Investment News
FinTech: Klarna’s All-In Efforts To Achieve Profitability Getting Traction
Swedish fintech company Klarna achieved a significant improvement in its financial performance during the first quarter, as it halved its net loss compared to the same period last year. The…
Alternative Investments/AI: Euclidean Technologies Launches ETF For AI-Selected Value Stocks
Seattle-based investment advisor Euclidean Technologies Management has launched its first exchange-traded fund (ETF), the Euclidean Fundamental Value ETF (ECML US). The actively managed US equity fund utilizes artificial intelligence (AI)…
Venture Capital: Matrix Partners Raises $550M For Its Fourth India Fund
Matrix Partners India, a venture capital firm focused on investments in India, has announced the closure of its latest fund, securing over $550 million in commitments. This new fund from…
Artificial Intelligence: AI Helps Researchers Find A Compound To Kill The Drug-Resistant A. baumannii Bacterium
Scientists at MIT and McMaster University have used artificial intelligence (AI) to identify a new antibiotic that can combat drug-resistant infections caused by Acinetobacter baumannii. The bacterium is commonly found…