New Toronto incubator just launched for generative AI firms

 New Toronto incubator just launched for generative AI firms

Image courtesy: The Adaptavist Group

A new generative AI startup incubator called “Adapting for Tomorrow” has been launched in Toronto. It’s promoted by The Adaptavist Group and is now inviting applications for its 6-month incubation program. The Tech Factor spoke to the team to find out details about the development.

Further strengthening the AI landscape in Toronto, a new generative AI startup incubator has opened its doors in the city. The Toronto incubator is being called “Adapting for Tomorrow” and is promoted by The Adaptavist Group. The incubator is at the moment inviting applications for its 6-month incubation program. A company spokesperson shared more details with The Tech Factor in an interaction.

The team shared that the incubation program will specifically focus on startups developing cutting-edge AI solutions. Their program’s goal is to support technology startups that are building AI applications to enhance enterprise collaboration and productivity. It will offer selected early-stage companies dedicated support, resources, and also guidance to scale and address pressing challenges in AI.

The Adaptavist Group is a global technology firm with global headquarters in London and a North American headquarters in Toronto. The firm claims to have more than 1,000 employees working in over 10 brands, across 15+ offices in 10+ countries. It provides a mix of day-to-day workflows, business transformation, and high-growth strategies spanning multiple disciplines to about 23,000 customers globally. The company reached a lifetime-high revenue of GBP236M in FY2023. Earlier in April, the company received Atlassian’s Partner of the Year 2023 Cloud Solutions award. And in May, it entered into a partnership with Deloitte for Atlassian-related client transformations across the Asia Pacific region.

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Doubling down on generative AI potential of Toronto

The company said that a lot is going in favour of Toronto for it to be at the forefront of North American entrepreneurial ecosystem. This includes business diversity, top educational institutes, government support and growing VC ecosystem. Additionally, it mentioned that the city’s commitment to diversity makes it an inclusive environment to launch startups in any area.

Indeed, Toronto is home to several AI startups, many of whom have also raised financing from investors. Just in recent times, The Tech Factor has reported on fundraises by Sanctuary AI and Promise Robotics, and also the AI-driven acquisitions by Detechtion and D2L Brightspace. The rapid rise of generative AI has also been a controversial topic locally, with the Canada ChatGPT investigation last year.

Harp Athwal, Head of Channel Operations at The Adaptavist Group, mentioned that they recognized the city’s unique advantages. He said they’re deeply embedded in Toronto’s tech community and further aim to help startups leverage their connections and knowledge-base.

“With our focus on generative Artificial Intelligence in Canada, we’re tapping into the immense potential of this region for driving innovation.”

Harp Athwal, Head of Channel Operations at The Adaptavist Group

Accordingly, the Toronto incubator expects the selected startups to be based in the city during the program.

Toronto incubator to bring together mentorship & network

The program will be of six-month duration comprising workshops on company strategy, technology, HR, legal, as well as marketing counsel. It will also include practical insight sessions involving pitching best practices and mentorship from some of Canada’s top business advisers. Other advantages include incorporation into the vast Adaptavist ecosystem, regular office space in downtown Toronto, and access to international office networks. There’s no upfront cash investment in the startups, but the group says it could potentially include future investments. The Adaptavist Group is currently looking to onboard two startups in the first batch.

The confirmed advisors in the Toronto incubator include Maria Harrington, Patrick Tammer and James Appleyard. Harrington is a business development and marketing leader driving innovation for top tech companies. Tammer is a Senior Investment Director at Scale AI overseeing a $100M+ portfolio of AI projects, and a serial entrepreneur. Appleyard has invested in and guided over 20 Canadian startups developing “Technology for Human Progress.”

“Our focus on generative Artificial Intelligence through ‘Adapting for Tomorrow’ underscores our commitment to pushing the boundaries of what’s possible in tech. We don’t just see ourselves as a company; we’re a home for startups to thrive and innovate. With our roots deeply embedded in technology, we’re shaping a TechHub where innovation flourishes. The ‘Adapting for Tomorrow’ program exemplifies our dedication to fostering disruptive innovation and driving positive change in the tech industry.”

Simon Haighton-Williams, CEO of Adaptavist

The Toronto incubator is inviting applications from startups with a product and a desire to grow till 30th August. It will charge no fees to the selected startups. The strongest submissions will be asked to present before a panel of experts in early October.

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Ankur S

Ankur is a contributing writer for The Tech Factor based in Toronto. He is a seasoned technology & business leader, having worked as a tech entrepreneur, venture capitalist and management consultant for nearly two decades. His experience includes working and investing in the Canadian, US and Indian startup ecosystems.

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