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Ontario budget makes $15 million investment in top AI entrepreneurs

Mar 29, 2018

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

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."

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