EMERGING TECHNOLOGY,GOVERNMENT BUSINESS
Homeland Security Technology Consortium | August 12, 2022
The Homeland Security Technology Consortium (HSTech), Advanced Technology International (ATI), and TechConnect today announced 17 finalists in the Security Innovation Challenge. These candidates will vie for $25,000 in prizes on September 29, 2022 when they pitch cutting-edge identity management technology before a room of corporate buyers, funders, and federal agencies in Washington, D.C. at Defense TechConnect Innovation Summit. Finalists also receive membership to HSTech, which supports the Department of Homeland Security in providing collaborative R&D and rapid prototyping capabilities critical to homeland security missions.
"If you're capable and interested in making security and privacy-centric contributions for the betterment of the nation, there are no funding vehicles more powerful than HSTech's consortium-managed other transaction authority, The Security Innovation Challenge will bring together finalists which are 85% non-traditional, meaning they are new to government contracting. These are technology solutions our nation might never have found without HSTech engagement, and we're honored to help build that bridge between private-sector and government needs."
-Matthew Laudon, Vice President - TechConnect Division, ATI.
Challenge applicants represent privacy-centric solutions for both civilian and federal applications, especially in the areas of artificial intelligence (AI) and machine learning (ML); cybersecurity platforms; data harmonization software; pattern recognition software; and real-time analytics platforms. Primarily more advanced technologies, 65% represent technology readiness level six (6) or higher; and 85% boast at least prototype development.
"The Homeland Security Technology Consortium supports the security of our nation by addressing mission needs at the Department of Homeland Security and its partner agencies. Privacy-centric identity management technologies and processes remain critical capabilities across the federal enterprise, and we're excited to see what this group of innovators can show us in September."
-Michael Dougherty, Executive Director of HSTech.
About Homeland Security Technology Consortium:
The Homeland Security Technology Consortium (HSTech) supports the collaborative R&D and rapid prototyping/piloting needs for the U.S. Department of Homeland Security and its components. HSTech sources capabilities across the homeland security and national border security technology spectrum.
With 25+ years of experience connecting emerging technologies with unique funding and partnership opportunities, TechConnect boasts the most robust research and innovation network in the world. It employs a broad scope of tools to deliver top technologies, including open innovation programs, conferences, and open-access publications. Each year, TechConnect prospects, vets, and connects thousands of emerging technologies with corporate, investment, municipal, and national defense clients. TechConnect is a division of Advanced Technology International.
About Advanced Technology International:
ATI, a public-service nonprofit based in Summerville, S.C., builds and manages collaborations that conduct research and development of new technologies to solve our nation's most pressing challenges. Fueled by a community of experts from industry, academia, and government, ATI accelerates impact by using the power of collaboration to help the federal government quickly acquire novel technologies. ATI is a subsidiary of Analytic Services, Inc. (ANSER), a public-service research institute organized as a nonprofit corporation, which is dedicated to informing decisions that shape the nation's future.
FedDev Ontario | August 10, 2022
Canvass Analytics Inc. ("Canvass AI"), a leader in industrial AI software, today announced the completion of its previously reported Series A financing with an extension of US $7.73 million, led by Yamaha Motors Ventures and a CDN $5.7 million (US $4.43 million) repayable loan from the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The Series A extension will fuel the company's mission to empower industrial workforces to drive impact across their operations with the power of Industrial AI.
"The completion of our Series A endorses our go-to-market strategy and the acceptance of our solution in market. Today, leading industrials and manufacturers are using our patented Canvass AI platform to solve challenges that have plagued their operations for decades. This, in turn, is providing a positive impact to their productivity, profitability, and sustainability goals, This additional financing places us in a solid position to achieve our growth plans and accelerate AI adoption in large and mid-cap industrial companies."
-Humera Malik, CEO of Canvass AI.
As previously announced, the FedDev loan will enable the company to expand its diverse and inclusive workforce in Ontario as the company accelerates its growth with industrial companies who are rapidly adopting and scaling AI across their operations.
"Our government believes that protecting our environment and fighting climate change is not only the right thing to do for the planet but also for our economy. The Government of Canada is proud to support tech companies like Canvass AI in the important work they are doing to reduce the environmental impact of major industries as we move toward net-zero emissions."
-Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario.
Canvass AI's laser focus on enabling industrial companies to achieve their performance goals faster with the power of AI is filling a gap in the market that industrial companies have been searching for. We are excited by Canvass AI's strategy to empower industrial engineers as the change makers of Industry 4.0 so that the industrials can extend their competitive advantage, reduce costs, and advance their sustainability initiatives, commented Anish Patel, COO and Managing Director of Yamaha Motor Ventures.
Canvass AI's customers span the oil and gas, chemical and petrochemical, metals and mining, and energy sectors, all of which contribute significantly to the global economy and will play key roles in combating climate change. The Canvass AI platform provides industrial engineers with easy-to-use AI solutions to apply and scale across their operations that address their operational challenges, without requiring coding or data science expertise. Today, leading companies use Canvass AI to reduce carbon emissions and waste, improve yields, optimize facility operations, improve asset reliability and integrity, and optimize energy consumption.
About Canvass AI:
Canvass AI is a leading industrial AI software provider that puts the power of AI in the hands of industrial workforces to solve day-to-day operational problems. Some of the world's largest companies use Canvass AI's patented Industrial AI Platform to reduce carbon emissions and waste, improve yields, and optimize facility operations. Backed by Alphabet and Yamaha Motor Ventures, the Company is recognized by CB Insights as one of the world's top 50 technology companies that is advancing manufacturing.
About FedDev Ontario:
For 13 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada's most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region.
DLA Piper | August 09, 2022
DLA Piper represented SixGen, Inc., a leading cybersecurity and products company based in Maryland, in its acquisition of Fourcast Management and Analysis, Inc., a Maryland-based technology management consulting company.
SixGen provides world-class cybersecurity services and products to protect government organizations and commercial industries. Using innovative processes, tools, and advanced techniques, SixGen predicts and overcomes cybersecurity vulnerabilities. SixGen prioritizes best practices, customer requirements and privacy and overall mission impact.
The strategic acquisition of Fourcast Management and Analysis – a leading management consulting company that provides seasoned advisory services, skills, and assistance in the areas of finance, budget and cost estimation – will bolster SixGen's mission to provide the highest quality services to customers and enable employee growth through diversified opportunities.
"Congratulations to SixGen on this strategic acquisition of Fourcast, which will allow the company to grow in the cybersecurity and professional services sector, It was a pleasure collaborating and bringing together our deep knowledge and capabilities in the professional services industry to close this deal."
-Jeffrey Houle, co-chair of DLA Piper's Aerospace, Defense and Government Services Transactional practice who led the team that advised SixGen.
We're immensely proud of this pivotal deal. We thoroughly enjoyed working with the DLA Piper team and believe this acquisition will have an immediate impact on the level of service we can provide to our customers, said Chris Brady, chairman of Chart National, an investor in SixGen.
In addition to Houle (Washington, DC), the deal team included partners Thomas Pilkerton III, Julia Kovacs and Jordan Bailowitz (all three in Baltimore) and Brad Jorgensen (Austin); of counsel Christopher Armstrong (Baltimore); and associate Josh Feldman (Baltimore).
With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 12 consecutive years, according to Mergermarket.
DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.
About DLA Piper:
DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising.