A pivot means that a startup has decided to change their business model. This can be a drastic change (a completely new business model in a different sector) or a slight change (usually a major change in the company’s product to address a larger market opportunity in the same sector).
Andrew Dudum and his partners at Atomic VC have a straightforward plan to address Waterloo Region’s tech talent shortage. They want to scale their operation to such a size, turn it so relevant, that local entrepreneurs lose all interest in departing for Silicon Valley — they’ll have no need because they’ll have what amounts to Silicon Valley in their own backyard.
Toronto-based ScaleUP Ventures (SUV) announced today a second close of $32.25 million for its ScaleUP Ventures Fund, which now has over $70 million in committed capital. The funding was led by $25 million from the Province of Ontario, via the Ministry of Research, Innovation and Science.