BlueRock Theraputics tops 2019 Narwhal List
Each year, Canadian research and analysis firm Impact Centre releases its report on young Canadian companies with “the potential to become successful on the world stage.” Potential honorees are ranked by their ability to scale at speed and achieve global impact, with top companies ranked according to their ‘financial velocity’, which equals capital raised divided by the number of years in existence.
This week, the Impact Centre released its 2019 list of Canadian Narwhal companies (Narwhals being the ‘unicorns of the Arctic sea’) with BlueRock Therapeutics topping the list. With offices in Toronto, BlueRock has raised a total of US$225mn in funding since its founding in 2016, resulting in a financial velocity of 75, a full 41 points ahead of the 2nd place company, Element AI.
According to the report, each year, “the Narwhal List is split into 40 technology companies (excluding healthcare and life sciences firms) and 10 healthcare/life sciences companies, thus identifying the top 50 Canadian tech companies.” This year, four of the top 10 companies on the Narwhal list were healthcare-oriented.
Impact Centre reports that “unlike the year prior that was marked by four graduations from the list, there were no sales of Narwhals and no initial public offerings (IPO) in 2018. The fact that no Narwhals were sold is a good sign for Canada.”
BlueRock uses its proprietary Cell Gene platform to create new medicines with applications across the neurology, cardiology and autoimmune treatment disciplines. The company was founded by Versant Ventures, receiving one of the largest Series A funding rounds in biotech history.
The report concludes that “these results point to a sense of cautious optimism in Canada’s technology space,” but “Although we have made significant progress and have continued to leverage our investments in startups and incubation, our analysis suggests that we have significant work ahead of us.”
Intelliwave SiteSense boosts APTIM material tracking
“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.
We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.
Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate.
With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.
There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.
Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture.
It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.
Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.
On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.
As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.
A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.