News Summary

Montréal-based Mila, a leading AI institute in Québec, is exploring the creation of a venture capital fund aimed at commercializing its research outputs into successful startups. Jonathan Shaanan, formerly of Circle K Ventures and BDC Capital, has been appointed as a strategic advisor to develop this fund. Mila’s goal is to increase the number of startups stemming from its pool of talent, ensuring they are primarily built in Canada. The initiative comes as Mila enters a new era of prioritizing commercialization alongside its research. The institute has already seen over 50 affiliated startups raise more than $100 million. The potential fund has garnered interest from strategic partners, including American VCs. Hugo Larochelle, the new scientific director at Mila, emphasizes maintaining high research quality while fostering the commercialization of work and startup creation.