🦊/Investors

Innovative Solutions Canada

Government fund

Ottawa · Pre-Seed–Growth

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Investment thesis

Innovative Solutions Canada is a federal government program operating two funding streams. Under the challenge stream, government organizations set problems and Canadian small businesses compete for funding to prove feasibility and build prototypes. Under the testing stream, the program purchases and tests innovations in real-life settings. The initiative aims to support early-stage development, testing, and validation of prototypes from Canada's top innovators, providing non-dilutive funding to eligible Canadian small businesses to help bring pre-commercial solutions to market.

Source: firm website, verified Aug 7, 2026.

Stage
Pre-Seed–Growth
Check
$2M
HQ
Ottawa, ON, CA
Instruments
Grants
Last 12 months
1 investment
Tracked investments
259
Unicorns
1
IPOs
1
Acquisitions
2

What they invest in

from 203 of 259 portfolio companies

Deep Tech ×74Hardware ×73Cleantech ×56AI & Machine Learning ×45Advanced Manufacturing ×40New Materials ×38Climate Tech ×29Enterprise Software ×29

HQs:Canada×134United States×9United Kingdom×2

Who they back

founder profiles across 71 portfolio companies
69%
solo founders
49 of 71 mapped founding teams
20%
repeat founders
of 66 founders with career history

Founding team size:solo founder×492 founders×133 founders×44+ founders×5

Where their founders studiedfrom 62 founders with education data

University of Waterloo ×15University of Alberta ×6McGill University ×5University of Ottawa ×4University of Toronto ×4Concordia University ×2Queen's University ×2Sharif University of Technology ×2

What their founders studiedfrom 59 founders with field-of-study data

Engineering ×30Computer Science ×11Life Sciences ×7Business & Management ×6Physics ×6Mathematics & Statistics ×4Economics ×2Finance & Accounting ×2

Where their founders worked beforefrom 66 founders with career history

University of British Columbia ×5Institute for Quantum Computing ×3Nortel Networks ×3University of Calgary ×3Logistik Unicorp Inc. ×2McGill University ×2National Research Council Canada / Conseil national de recherches Canada ×2Perimeterinstitute ×2

25 founders hold a PhD · 3 hold an MBA (of 63 with degree data)

Investments · 259 tracked

founders shown can be your intro path

By year:2026 · 12024 · 12019 · 12011 · 14 dated

Labforge Inclabforge.cain𝕏✓ verified

Labforge offers a 3D tracking and positioning system using AI-powered smart cameras to detect and monitor multiple objects in real-time without markers or tags, displaying results on an interactive geospatial map for situational awareness in critical operations.

Advanced ManufacturingAI & Machine LearningDeep TechDefense TechHardwareWaterloo, CA

Yassir Rizwan(CEO, co-founder)inThomas Reidemeister(CTO, co-founder)inSebastian Fischmeister(Director, co-founder)in

028_companies_FEfeedengineering.com

FEED Engineering (FFED) provides comprehensive front-end engineering and design (FEED) services for oil and gas production and processing facilities, including mechanical design, process engineering, instrumentation and control systems, electrical design, and civil engineering.

EnergyEnterprise SoftwareHardware

Co-investorsForesight

11811347 Canada Inc. (Au-Zone)edgefirst.aiin

EdgeFirst AI, from Au-Zone, is a technology suite and MLOps platform for 3D visual and 4D spatial perception, combining AI perception models, a radar-vision fusion engine, annotation and training tools, and field-ready sensor hardware modules.

AI & Machine LearningMobility & TransportationRoboticsCalgary, CA

Brad Scott(CEO)in

1QB Information Tech/Irreversible1qbit.comin𝕏

1QBit develops computational tools that enable organizations to reimagine and solve complex, previously intractable problems across industries.

Deep TechEnterprise SoftwareQuantum Computing

Andrew Fursman(Founder)in

Co-investorsGen CapitalSCB 10X

2Keys Corporation2keys.cain𝕏acquired by Interac

CybersecurityFintechSaaS

5REDO5redo.cain

5REDO is a sustainability consulting firm that helps businesses design and implement circular economy solutions across their value chains.

Circular EconomyCleantechClimate TechEnterprise SoftwareImpact & Social GoodKitchener, CA

Mahdi Takaffoli, PhD, PEng(Founder)in

AccessNowaccessnow.com𝕏

AccessNow is a technology and community platform that helps people discover accessible places and opportunities while advancing cultural change toward inclusion.

ConsumerImpact & Social GoodSocial

Maayan Ziv(Founder, CEO)in

Acuva Technologiesacuvatech.comin

Acuva Technologies designs and manufactures UVC LED water disinfection systems for residential, recreational, commercial, and remote water treatment applications, using its IntenseBeam optical lensing technology for mercury-free purification.

CleantechClimate TechHardwareVancouver, CA

Co-investorsBDC Fund Investments (Fund-of-Funds)BDC Venture CapitalForesightBDC Capital Corporation

AEROSYSTEMS INTERNATIONAL INC.asiiweb.comin

Aerosystems International manufactures specialized electrical and mechanical assemblies, harnesses, cables, and ground support equipment for aircraft.

Advanced ManufacturingHardwareSpace Tech

Afel Technologies Inc.afel.ca

Afel Technologies is a startup that turns ideas into prototypes to raise their Technology Readiness Level, offering services such as mechanical, electrical and industrial design, firmware, simulations, and manufacturing.

Deep TechHardwareRobotics

aiRadar Inc.airadar.com

aiRadar develops compact, lightweight radar imaging systems with high resolution and adaptive cognitive capabilities for commercial and military applications.

AI & Machine LearningDeep TechDefense TechHardwareBurnaby, CA

Peter Foxin

Akimbo Technologies Inc.akimbotechnologies.comin

Akimbo Technologies builds an intrusion-tolerant cybersecurity system based on its patented Fault-Tolerant Distributed Computing (FTDC), branded DEFENSA, which detects and corrects cyberattacks in real time on mission-critical operating systems without a cloud connection.

CybersecurityDeep TechDefense TechKanata, CA

Behrouz Poustchi(Founder, Director & CEO/CTO)inRod Weir(Chief Revenue Officer)inLance Davis(Chief Financial Officer)inMassoud (Mac) Poustchi(Vice President - Marketing)

AllSeeing Corpallseeingtech.cain

AllSeeing develops electromagnetic detection technologies including radar, lidar, and sonar solutions for defense, aerospace, and environmental applications.

Deep TechDefense TechHardware

Amtech Aeronautical Limitedamtech-group.com

AMTech Group provides engineering services including aircraft modification and repair design with regulatory design approvals (Transport Canada, FAA, EASA), defence systems prototyping and integration specializing in military engineering, autonomous vehicles and chemical/biological defence, and automation work such as PLC/SCADA and HVAC building control systems.

Defense TechRoboticsSpace Tech

Aoms Techaoms-tech.comin𝕏

Brickeye offers an IoT-enabled construction risk intelligence platform combining ruggedized job site hardware, connectivity, and software to detect site conditions like water risks and provide early warnings.

Construction TechInsurTechIoT

Co-investorsGreenSky Ventures

Applied Mind Inc.appliedmind.ca

Applied Mind Inc. develops wireless sensor technology, including its Hyperion software-defined radio (SDR) sensors and applications, for the security and public safety sector.

Deep TechDefense TechHardware

Applied Quantum Materials Inc.aqmaterials.com

Applied Quantum Materials designs and manufactures silicon, carbon, and germanium nanomaterials and their chemical precursors for advanced technology applications.

BiotechDeep TechNew MaterialsQuantum ComputingSemiconductorsEdmonton, CA

Dr. David Antoniuk(CEO & Co-founder)Dr. Jonathan Veinot(CTO & Co-founder)

Arise Industries Incariseindustries.net

Arise Industries builds custom AI software and forensics tools for high-stakes operational environments, serving public sector clients including law enforcement and defense.

AI & Machine LearningDefense TechGovTech

Ashored Inc.ashored.cain𝕏

Ashored develops fixed-gear fishing technology aimed at reducing marine animal entanglements caused by traditional buoy-and-rope trap systems.

Climate TechHardwareImpact & Social Good

Co-investorsCreative Destruction Lab (CDL)

Aspin Kemp & Associates incaka-group.comin𝕏

AKA Energy Systems designs, manufactures, and supports power and propulsion systems for island, microgrid, marine, offshore oil and gas, and land-based applications.

Advanced ManufacturingCleantechEnergyHardwareMontague, CA

Atmose Ltdatmose.cain

Atmose builds instruments to measure and condition ultrafine aerosol particles in a range of field locations, addressing gaps in conventional air-quality measurement systems.

CleantechClimate TechHardware

Tyler Johnson(Founder)in

Co-investorsCreative Destruction Lab (CDL)

Audesseaudesseinc.comin

Audesse designs intelligent autonomous systems and electronic control units for automotive fleets to reduce operating costs and enable vehicle innovations.

AI & Machine LearningHardwareIoTMobility & TransportationKitchener-Waterloo, CA

Co-investorsWaterloo Accelerator Centre

Avateqavateq.comin

Avateq produces the AVQ200 RF Signal Inspector, an embedded RF signal analyzer for digital broadcasting standards that monitors off-air signal quality across multiple broadcasting formats.

Deep TechEnterprise SoftwareHardwareMedia & Entertainment

Axipolymeraxipolymer.comin𝕏

Axipolymer develops advanced plastic materials for industrial applications with a focus on environmental sustainability and circular economy principles.

Advanced ManufacturingCircular EconomyCleantechNew Materials

BC Research Inc.bcri.cain

BC Research Inc. is a chemistry-focused contract research and development company offering laboratory, bench-scale, and pilot-scale research services for chemical process innovation.

BiotechCleantechDeep TechEnergyNew MaterialsVancouver, CA

BI Expertise Incbiexpertise.comin

A provider of cloud platforms and solutions for enterprise data management, machine learning, customer relationship management, and virtual machines, serving business customers.

AI & Machine LearningCloud ComputingData & InfrastructureEnterprise Software

Block 64 Corporationblock64.comin

Block 64 provides unified IT asset visibility and inventory management across SaaS, cloud, software, endpoints, and on-premises infrastructure through a single platform.

Cloud ComputingCybersecurityEnterprise SoftwareSaaS

Bluink Ltd.bluink.cain𝕏

Bluink provides remote identity verification and digital ID solutions for Canadian organizations seeking to verify customer identities and mitigate fraud risk.

CybersecurityEnterprise SoftwareFintechSaaSOttawa, CA

Steve Borza(Founder)in

Co-investorsL-SPARK

Bornea Dynamics Limtedbornea.ca

Bornea Dynamics provides research and development, AI/machine learning, engineering, and cyber intelligence services across mechatronics, electrical, and chemical disciplines.

AI & Machine LearningDeep TechEnterprise SoftwareHardware

Bosk Bioproducts Inc.bosk-bioproducts.com

BOSK Bioproducts develops, manufactures, and distributes biobased, compostable, food-contact certified PHA-based compounds and finished products under the REGEN™ brand as an alternative to petrochemical plastics.

Circular EconomyCleantechNew Materials

Braebon Medical Corporationbraebon.com

BRAEBON is a single-source provider of PSG sensors, accessories, Home Sleep Testing (HST) systems, therapeutic intraoral appliances, and software solutions for sleep medicine.

Digital HealthHardwareMedical Devices

Richard A. Bonato(Founder & Chief Executive Officer)Don C. Bradley(Retired Founder)Richard A. Bonato, Ph.D, RPSGT(Founder & Chief Executive Officer)Don C. Bradley, B.Sc(Retired Founder)

Brash Product Development Incbrashinc.comin

Brash is a product design and engineering studio that helps entrepreneurs, startups, and established companies develop products from concept to launch.

Deep TechHardware

CACITH Inc.tengiva.comin

Tengiva builds commerce software designed specifically for the textile industry, serving manufacturers, distributors, and retailers across fashion, uniforms, and technical textiles.

AgTechB2B MarketplacesE-commerceSaaS

Annie Cyr(CEO & co-founder)inCarlos Agudelo(COO & co-founder)in

Canada Stablecorp Inc.stablecorp.cain𝕏

Stablecorp issues QCAD, a Canadian dollar stablecoin backed 1-to-1 by reserves held at regulated financial institutions and governed by a Canadian prospectus-based regulatory framework.

Crypto & Web3Fintech

Alex McDougallin

Co-investorsBorderless VentureCoinbase VenturesCircle VenturesDeFi TechnologiesSide Door Ventures

Canurta Therapeutics Websitecanurta.comin𝕏

Canurta Therapeutics develops multi-target botanical drugs using its AI-backed PolyKye platform to identify bioactive compounds and guide compound selection, disease targeting, and formulation.

AI & Machine LearningBiotechHealthtech

Akeem Gardner(Founder)in

Co-investorsWaterloo Accelerator Centre

CarbiCretecarbicrete.comin𝕏

CarbiCrete develops a carbon removal technology that enables the production of cement-free concrete by using industrial steel slag and injecting CO2 to provide strength while sequestering carbon.

Circular EconomyCleantechClimate TechConstruction TechNew MaterialsQuebec, CA

Co-investorsAera VCBDC Climate Tech Fund IINew Climate VenturesSQN Venture Partners, LLCFondactionFonds de solidarité FTQ+1 more

CBCL Limitedcbcl.cain𝕏

CBCL is an engineering firm that develops practical solutions integrating social, economic, and environmental considerations into project design and implementation.

CleantechClimate TechConstruction TechImpact & Social Good

CEM Works Inc.cemworks.comin𝕏

CEMWorks develops physics-based electromagnetic simulation software for electronic design automation (EDA), targeting engineers working on semiconductors, wireless systems (5G/6G), aerospace, automotive, and defense applications.

Deep TechSaaSSemiconductors

Jonatan Aronsson(Founder & CEO)in

Chaac Technologies Incchaac.techin

Chaac provides VR training modules, drone-based data collection, and photogrammetry solutions for immersive learning and field operations across industries including construction, surveying, and defense sectors.

AI & Machine LearningDeep TechDefense TechEnterprise SoftwareFuture of WorkHardwareSector Agnostic

Chalumeauchalumeau.cain

Chalumeau develops electrification technologies to reduce carbon emissions in cement manufacturing.

Advanced ManufacturingCleantechClimate TechEnergy

Benoit Boulet(Chief Executive Officer)Mostafa Darabi(Chief Operating Officer)Pooya Maghoul(Chief Technology Officer)

Co-investors2 Degrés

CircuitMind Inc.circuitmind.ioin

Circuit Mind develops a platform that converts hardware architecture into verified schematics and bills of materials using algorithms and software for electronics engineers and design teams.

Advanced ManufacturingAI & Machine LearningDeveloper ToolsHardwareLondon, GB

EdTomide Adesanmi(CEO)inBasilio Gentile(CTO)in

Co-investors7percent VenturesBlackhorn VenturesCreative VenturesDifferential VenturesEntrepreneur FirstEpisode1+4 more

Circulus Agtech Solutions Inc.circulusagtech.comin

Circulus develops systems that use ion activity monitoring to optimize nutrient concentrations in agricultural operations, replacing chemical fertilizers with organic alternatives while leveraging data analytics to improve extraction efficiency and yield.

AgTechCircular EconomyCleantechMontreal, CA

Cloud DX Websiteclouddx.comin𝕏

Cloud DX develops the Connected Health platform, including remote patient monitoring software, mobile apps, and devices such as VITALITI for capturing vital signs.

Digital HealthHealthtechMedical DevicesKitchener, CA

Co-investorsWaterloo Accelerator Centre

Coanda Research and Development Corporationcoanda.cain

Coanda is a research and engineering firm that brings together scientists, engineers, and technologists to solve technical challenges for clients across various industries.

Advanced ManufacturingAI & Machine LearningDeep TechDeveloper ToolsEnterprise SoftwareBurnaby, CA

Darwin Kiel(Founder)in

CogniFrame Inc.cogniframe.comin

CogniFrame develops quantum computing and machine learning solutions for financial applications.

AI & Machine LearningDeep TechFintechQuantum Computing

Vish R.(Founder & CEO)

Co-investorsCreative Destruction Lab (CDL)

Columbiad Launch Services Inc.columbiad.ca

Columbiad Launch Services is a commercial space launch company developing a high-volume Industrial Sounding System based on gun propulsion technology to provide low-cost access to space.

Deep TechHardwareSpace Tech

Complex System Inc.complexsysteminc.com

Complex System Inc.

Advanced ManufacturingAI & Machine LearningRoboticsCalgary, CA

Convergent Manufacturing Technologies Incconvergent.ca

Convergent Manufacturing Technologies develops software and hardware for computer simulation and risk evaluation in composite manufacturing for the aerospace industry, covering thermal, flow, porosity, stress, and distortion analysis.

Advanced ManufacturingDeveloper ToolsHardwareNew MaterialsSaaSVancouver, CA

Copol International Ltd.copolinternational.comin

Copol International manufactures custom Cast Polypropylene (CPP) films in gauges from 20–200 μm and widths up to 1.9m, offering customized batch sizes and rapid delivery.

Advanced ManufacturingNew Materials

COSIOR (French only)cosior.comin

COSIOR Groupe is a managed IT services provider offering flexible hybrid models for companies of all sizes, covering IT infrastructure, cybersecurity, cloud solutions, and helpdesk support.

Cloud ComputingCybersecurityEnterprise SoftwareQuebec, CA

CriSys Limitedcrisys.com

CriSys provides software systems to automate emergency (911) and urgent (311) call center operations for public safety agencies including police, fire, EMS, and emergency management.

AI & Machine LearningEnterprise SoftwareGovTechSaaS

CyberStrykescyberstrykes.com

CyberStrykes provides cybersecurity services focused on maintaining the integrity of complex computational systems, including AI camera systems, exploit reversing, secure code deployment, threat intelligence, and IT operations management.

CybersecurityMontreal, CA

Detection & Interdictions Solutions Corp.interdiction.ca

D&I Solutions develops technology to detect and interdict unauthorized wireless communications, targeting contraband cell phone use by inmates in correctional facilities.

Deep TechGovTechHardware

Dowclear Inc.dowclear.com

DowClear provides water treatment solutions that remove suspended solids, adjust pH, reduce total dissolved solids, and treat biological and chemical contaminants including metals, organic compounds, hydrocarbons, and anions from industrial wastewater.

CleantechClimate TechEnterprise SoftwareHardware

Jason Downey, P.Eng., MBAin

Drone Vision Internationaldronevisioninternational.com

Drone Vision International rents and manages drone-based equipment and provides expertise to capture, digitize, and process aerial images and related data for clients.

Data & InfrastructureHardwareRobotics

Dyze Designdyzedesign.comin𝕏

Dyze Design develops components for 3D printers, including hotends, extruders, and sensors that control material supply and deposition.

Advanced ManufacturingHardwareRoboticsMontreal, CA

E.O.I Technologies Inc.eoi-technologies.comin

E.O.I Technologies Inc., based in Calgary, is developing a laser-based sensor that measures vibration in industrial equipment from a distance.

AI & Machine LearningIoTCalgary, CA

Co-investorsTechstars

EcoEnviro Labs Inc.ecoenvirolabs.com

Eco Enviro Labs is a research and development company with a multidisciplinary team in chemistry, biology, material science, environmental sciences, and physics that develops scientific solutions to ecological and environmental problems.

AgTechCleantechClimate Tech

Ecomendix Innovation and Trading Ltd.ecomendix.cain

EcoMendix Innovation and Trading Ltd. provides engineering and consulting services in renewable energy (solar, wind, hydrogen, hybrid systems), process engineering for energy, oil & gas and petrochemical industries, building energy efficiency, and AI-driven robotics for precision agriculture and industrial automation.

CleantechEnergyRoboticsVancouver, CA

Amin Mostafavi(Co-Founder & CEO)in

Econse Water Purification Systems Inceconse.comin𝕏

Econse develops decentralized wastewater treatment systems designed as compact, lower-cost alternatives to large-scale infrastructure.

CleantechClimate TechHardware

Andrew Amiri(Founder)inDerek Davyin

Co-investorsForesight

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

3D Currax6Harmonics9419-8488 Quebec Inc. (Alfapur Technologies)Advanced Interactive Canada IncAeroContain Technologies Inc.B3D Performance Inc.BGC Engineering IncBiosa Technologies LimitedBPE TechnologiesBulky IncCA Hybrid Inc.Canada VFD CORPCole Webber Productions, Inc.Deep Biologics Inc.Drinkfill Beverages ltde2ip technologies (GGI Solutions)Ecoli SenseEconnomiEnviroluv Inc.Exonetik IncFeedband Labs Inc.Formi 3DP Inc.FUTURi Power Inc.GreeNovel Inc.H2O Geomatics Inc.Health Tech Connex Inc.Integrity Co Solutions Inc.IPtoki Inc.Kaeras Inc.Lixar I.T IncMagemi Mining Inc.Maxwellian IncOptima Analytics IncPrecision NanoSystems Inc.Redline Communications Group Inc.ReGenerate Biogas Inc.Roswell Downhole TechnologiesSageTea inc.Sanozone Technologies IncorporatedSecureKey Technologies Inc.

Browse all 259 investments with full details →

59 more tracked companies

SEIN Industries LTDSensoreal Inc.SensorUp IncShaddari Inc.Shift Environmental Technologies Ltd.Single Quantum Systems WebsiteSingular Solutions Inc.Sinopa Energy Inc.Sirati and Partners Consultants LtdSkyWatch Space Applications Inc.Smarter Alloys Inc.SoftwareQ Inc.Solana Networks Inc.Solutions AvancéesSpace Strategies ConsultingSparta Manufacturing Inc.Spartan Bioscience Inc.Spectra Plasmonics Inc.Spectronix IncStedfast incSteel Mirror Inc.Stema Punch and Die Inc.STRATUSCENT INC.Studio 1 Labs Inc.SUNSET Renewable Asset MgtSwap RoboticsTacteris Systems IncTelops Inc.Terra CO2 Technologies IncTerraFixingTerragon Environmental Technologies Inc.TerrisTetra Bio-Pharma Inc.Thorntech IncTitan Clean Energy Projects Corp.Tradvo Inc.TransEON Inc.Tribal Wi-Chi-Way-Win Capital CorporationTrido Industries Inc.TRIUM Environmental Inc.Troo CorporationTruly Northern Inc.Universal Matter Inc.VascuBio Innovation Inc.Vectis Drive Inc.VEI Contracting Inc.Vertex Environmental Inc. (VEI) ContractingVision Composites Inc.Vital Biosciences Inc.Volta Energy IncWebisoft Technologie Inc.Western Maple Bio ResourcesWin-Shield Medical Devices Inc.WinGlobalWorldreach (Formerly AMITA Corporation)Xanadu Quantum Technologies IncXtract Technologies IncXVP PhotonicsZentek Ltd.

Exits · 3

1 IPOs · 2 acquisitions · showing 1

2Keys Corporationacq. by Interac

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Innovative Solutions Canada made?
Innovative Solutions Canada has 259 tracked investments, 3 of which have exited, including 1 dated in the last 24 months.
What stage does Innovative Solutions Canada invest at?
Innovative Solutions Canada invests at the Pre-Seed, Seed, Series A, Series B, Series C, Growth stages.
What is Innovative Solutions Canada's typical check size?
Innovative Solutions Canada typically writes checks of $2M.
What sectors does Innovative Solutions Canada focus on?
Innovative Solutions Canada focuses on Cleantech, Deep Tech, Defense Tech, GovTech, Sector Agnostic.
Where is Innovative Solutions Canada located?
Innovative Solutions Canada is headquartered in Ottawa, CA.
Who does Innovative Solutions Canada co-invest with?
Innovative Solutions Canada most often shares deals with Foresight, Waterloo Accelerator Centre, ArcTern Ventures, among 99 tracked co-investors.

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