In an announcement yesterday, CIX Canadian Innovation Exchange recognized BluWave-ai as a “TOP 20 Early” game-changing, on-the-rise company for 2020. The category is open to Canadian companies with net revenue of less than $5 million or who have raised less than $10 million. This year saw almost 500 technology companies in the running, representing a diverse range of sectors including artificial intelligence (AI), medtech, fintech, big data, security, SaaS and cleantech.
The selection committee of 120 North American investors based their choices on the company’s product/service offering, depth of management, market opportunity and business model. Companies had the chance to include information on how the pandemic has impacted their business and here BluWave-ai pointed to the success of their product deployment in Mumbai, India in rapidly adjusting to government mandated shutdowns.
Leah Lawrence, President and CEO of Sustainable Development Technology Canada (SDTC) states, “SDTC invests in Canadian companies with the potential to bring significant economic and environmental benefits to Canadians. Last year SDTC was part of a $6 million award for a grid modernization project led by BluWave-ai. So we are delighted that the company has been recognized as a 2020 TOP 20 finalist by CIX.”
“We were unsure of how the pandemic would impact submissions this year,” said Lauren Linton, Executive Director of CIX. “The surge in applications shows that Canadian startups are keen to show off their innovation and get back to business. It’s a very impressive cohort this year.” Linton adds, “Investors are having a difficult time accessing deal flow due to the pandemic, and this list of curated companies helps them identify hot startups to target.”
"We are excited to be part of this exclusive group of Canadian technology innovators," said Devashish Paul, CEO and founder of BluWave-ai. "A glance at previous Top 20 companies, including Clearbanc, D-Wave, Kobo Books, to name a few, shows how impressive this award is. The goal of BluWave-ai is to build the world's premier renewable energy AI company with our patented technology from our springboard in Canada. We are leveraging our nation's top AI, networking, cloud computing and cleantech talent to build this company and this reward is a great recognition of our strategy."
The CEO/Founder of each TOP 20 company will present virtually at CIX Digital Summit to over 1000 investors and peers on October 20-21, 2020.
That same week BluWave-ai will also be pitching at the SET (Start Up Energy Transition) Tech Festival and Set Award. In February 2020 BluWave-ai was selected as a Top 15 finalist from almost 600 applicants globally. The SET Tech Festival was delayed from its usual March date due to the global pandemic, and like the CIX Summit, will be a virtual event this year.
Being selected for these two competitive and prestigious awards in the same year is a testament to BluWave-ai’s innovative and timely technology. BluWave-ai is more driven than ever to bring AI to cleantech to achieve the goal of a global renewable energy transition.
About CIX – Canadian Innovation Exchange
CIX is an annual curation program and conference which showcases Canada’s most promising early stage and scaling startups. Now in its 12th year, CIX-invited delegates are comprised of North American VCs, corporate, private equity investors and advisors. CIX is Canada’s largest tech startup investment conference. For more information visit the 2020 CIX Digital Summit website.
BluWave-ai is focused on driving the proliferation of renewable energy and electric transportation worldwide. Our solutions apply artificial intelligence to optimize the cost, availability, and reliability of different energy sources, both renewable and non-renewable, in real-time. This lets our customers -- communities, corporations and utilities -- improve their energy decisions for sustainability, reliability, and affordability.
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