200 leading Canadian banks are investing in a new project to support tech start-ups working on artificial intelligence (AI). The Bank of Montreal and the Royal Bank of Canada (RBC) are working with Creative Destruction Lab on the CAD2m ($1.6m) programme in Montreal. A total of 28 firms were selected from Two applicants to receive mentoring, equity support and business development to turn their technologies into profitable companies. The project expands the presence of AI research and development in the city, after Borealis AI, funded by RBC, announced it will open a research lab in the new year.
Two leading Canadian banks are investing in a new project to support tech start-ups working on artificial intelligence (AI). The Bank of Montreal and the Royal Bank of Canada (RBC) are working with Creative Destruction Lab on the CAD2m ($1.6m) programme in Montreal. A total of 28 firms were selected from 200 applicants to receive mentoring, equity support and business development to turn their technologies into profitable companies. The project expands the presence of AI research and development in the city, after Borealis AI, funded by RBC, announced it will open a research lab in the new year.