Thursday July 4, 2019

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MONITOR

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Cohort Launched

Waterloo Launches its Founder Institute Spring 2019 Cohort

Founder Institute Waterloo celebrated the launch of 10 startups from their Spring 2019 cohort during True North conference and festival in the modern Centre for International Governance Innovation (CIGI) on Wednesday, June 19, 2019. The third Founder Institute cohort to launch in Waterloo received hundreds of applications from around the world attracted to launch in the fastest growing tech-talent ecosystem in Canada. The program enrolled 32 startups and 10 survived the grueling 4-month program, that started in March, to pitch during the Launch Party event during True North this June.


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Making a Differnece

A Dollar A Day Foundation Presents Donation to Langs Community Centre.

This year, one in five Canadians will experience a mental health issue or illness. As more people come forward in search of help, the need for programs and services is growing. A Dollar A Day Foundation, launched in February 2018 by musician Alan Doyle, Dr. Andrew Furey, and businessman Brendan Paddick, exists to raise funds to close the gap between the availability of frontline mental health and addictions programs and the growing need for them. The Foundation unites members of the public from across Canada and beyond, each giving a dollar a day to Share the Change for Mental Health and Addictions.


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Globalization

China Doubles Down on Economic Globalization

China commits to further open up its economy, as part of a globally interdependent whole; Principles of free trade “must be upheld,” said Premier Li Keqiang

China is committed to building an open economy within the framework of globalization, said Li Keqiang, Premier of the People's Republic of China, at the opening plenary of the World Economic Forum’s 13th Annual Meeting of the New Champions. Premier Li reaffirmed China’s readiness to work with the international community to steer economic globalization. “We now live in a world of profound interdependence,” he stressed. “Countries rely on each other’s markets. No country can single-handedly provide all resources … or offer all needed goods to consumers. Nor can any country sustain its development in isolation from the global system.” Li underlined that “fundamental principles, such as free trade, must be upheld.”


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Moving Forward

The City of Waterloo moves forward with bold new strategic plan

On Monday, June 24, 2019, Waterloo Council approved a new strategic plan that provides a common focus for council and staff for the next four years. The 2019-2022 strategic plan is comprised of mission and vision statements, and six strategic goals with 19 objectives. It also includes seven guiding principles that serve as the lens by which council and staff make decisions as they work to achieve the goals and objectives in the plan. “I’m very proud of this strategic plan,” says Mayor Dave Jaworsky. “It charts a bold path with equity, inclusion and a sense of belonging right at the forefront. A community is only as strong as its people, and this strategic plan keeps our citizens, and their values and vision for our city, top of mind. I look forward to working alongside staff and our community to make this vision a reality.”


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Appointment

Hydro One announces Tim Hodgson as new Chair of the Board

Hydro One Limited, Ontario's largest electricity transmission and distribution company, announced that Tim Hodgson has been appointed by the Board of Directors to serve as the Chair of the Board commencing August 1, 2019. "I look forward to serving as Chair of this great company. Hydro One has an incredibly important mandate in serving the people of Ontario. This company is committed to outstanding service to nearly 1.4 million customers, reducing costs and continuing to invest in a safe and reliable electricity system that supports Ontario's growing communities and thriving economies," said Tim Hodgson, member of the Board of Directors, Hydro One. "The Board fully supports management's focus on delivering greater value for its customers, employees, communities and shareholders.""Tim, who is a member of our Board, is a highly qualified leader with deep business and policy experience," said Blair Cowper-Smith, Chair of Hydro One's Governance Committee. "Tim has proven capabilities and experience enabling him to provide leadership to the Board as it carries out its oversight responsibilities of Hydro One."



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Asian Markets

Speed of Change in Fourth Industrial Revolution Calls for Asia Leadership and Clear Mission

Risk of disruption is “certain” if leaders and their organizations do not respond with great agility; Those who are innovative and flexible will have a higher chance of surviving the dynamism of the Fourth Industrial Revolution

Dalian, People’s Republic of China – The profound changes expected in a new era of advanced technologies and the unprecedented speed of change will require leaders of Industry 4.0 to be agile and adaptive while still keeping in view the mission that drives their corporate existence, agreed panellists in a session on leadership at the Annual General Meeting of the New Champions, which closed today. Michelle Zatlyn, Co-Founder and Chief Operating Officer of Cloudflare, said her definition of leadership – the act of motivating a group of people towards a common goal – has not changed. However, she underlined the “certain risk of disruption” if leaders and their organizations do not respond with great agility.


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IPO's

First half IPO market struggles at fraction of 2018 pace

The surge in small mining issues and a single cross-border listing from the pharmaceutical sector was not enough to redeem the second quarter market for initial public offerings (IPOs) in Canada, the quarterly PwC Canada review of the nation's IPO market showed. Thirteen new issues on all Canadian exchanges delivered just over $13 million in proceeds in the second quarter of 2019, the PwC summary revealed. This compares to 11 new issues on all exchanges that resulted in $956 million raised in the second quarter of 2018, including four issues on the TSX totaling $948 million.


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Trade

CUSMA Auto Rules Need Greater Clarity for Industry

The new Canada-United States-Mexico Agreement (CUSMA) sets out rules of origin for auto products that need greater clarity to provide certainty for the businesses who must apply them, states a new report from the C.D. Howe Institute. In “Bumper to Bumper: Will the CUSMA Rules of Origin Make America’s Auto Industry Great Again?” Jon R. Johnson, a former advisor to the Canadian government during the NAFTA negotiations, takes a deep dive into the arcane rules of origin that will determine whether a good is eligible for duty-free treatment and finds they are still unclear in many cases, more stringent than those in NAFTA, and needlessly complex. In the negotiations for a new NAFTA, notes Johnson, the Trump administration targeted the North American auto industry for major change. The Trump administration objected to the NAFTA rules of origin as permitting too much non-NAFTA content in North American automobiles, and was fixated on the US’s significant balance-of-trade deficit with Mexico, most of which is accounted for by trade in automotive goods.


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Next Phase

Ontario Moving Forward with Next Round of Cannabis Stores

Province to Conduct Second Licence Lottery, Add 50 New Stores

The Ontario Government is taking the next step to combat the illegal market and protect our youth and communities by moving to the next phase of its plan to license private cannabis retail stores. This is in response to the federal government's legalization of cannabis and marginal improvements in the federally licensed supply of cannabis. Rod Phillips, Minister of Finance, and Doug Downey, Attorney General, announced that the Alcohol and Gaming Commission of Ontario (AGCO), the provincial regulator for cannabis retail storefronts, has been given regulatory authority to conduct a second lottery for 42 private cannabis retail store authorizations. Interested parties will be able to submit an expression of interest form online to the AGCO in summer 2019.


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Common Wealth

Tax advisors view technology as paramount in responding to client needs and uncertainty in the wake of Brexit

New research from Wolters Kluwer Tax & Accounting UK reveals Brexit uncertainty is driving move to increased advisory services. Wolters Kluwer Tax & Accounting UK has announced its most recent industry survey findings of more than 100 UK based accountancy firms, which show how accountancy firms are changing as Brexit unfolds. Almost half of those who responded (45%) indicated that they are planning to offer more advisory services to support clients during this time of uncertainty, including cash flow forecasting or recession planning.


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CEO Outlook: Confidence

CEO confidence in the Canadian economy falls 15 per cent

Agile or Irrelevant: Growing concerns about climate risk, territorialism and effects of disruptive technologies

Confidence in the Canadian economy fell 15 per cent over last year finds KPMG’s latest Global CEO Outlook. The annual report surveys some 1,300 CEOs from around the world on the biggest risks facing their businesses and the strategies they are employing to address them and continue to drive growth. The decline in Canadian confidence is in sharp contrast to that of their global counterparts who reported a nine per cent increase in confidence over last year.


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Governance

U of G Names New Board of Governors Chair, Shauneen Bruder First Woman to Hold the Position



Whenever Shauneen Bruder sets foot on the University of Guelph campus, it is like coming home to the place where her love of learning first had free rein. It is a seminal place in the life of the U of G alumna, who has just been appointed chair of the University’s Board of Governors, the first woman to hold the position. “U of G is such an important part of my life,” said Bruder, who graduated in 1980 with a BA before completing an MBA at Queen’s University. “To have this gift to come back and reengage as I have over the last few years with the Board of Governors has just been a joy.” She said she is thrilled to be heading an exceptional U of G governance team and to help navigate her alma mater through changing times.


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Pork Sector

Ontario Takes Action to Build Competitiveness in the Pork Sector

New Elora swine research facility to help make sector more innovative

The Ontario government is helping advance the pork sector and drive more innovation in farming through the construction of a new swine research facility. The new infrastructure investment in Elora will use state-of-the-art technology to meet advanced research and training needs in the swine sector - which represents over 1,200 producers in the province - for decades to come. "Our government is committed to supporting the development of farming technologies that create good jobs and help the economy grow," said Ernie Hardeman, Ontario's Minister of Agriculture, Food and Rural Affairs. "We want to help farmers succeed and better position the pork sector for further growth and competitiveness now and for years to come."


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Climate Change

More "reactive" land surfaces cooled the Earth down

Higher reactivity could explain temperature drop before last ice age

From time to time, there have been long periods of cooling in Earth's history. Temperatures had already fallen for more than ten million years before the last ice age began about 2.5 million years ago. At that time the northern hemisphere was covered with massive ice masses and glaciers. A geoscientific paradigm, widespread for over twenty years, explains this cooling with the formation of the large mountain ranges such as the Andes, the Himalayas and the Alps. As a result, more rock weathering has taken place, the paradigm suggests. This in turn removed more carbon dioxide (CO2) from the atmosphere, so that the ‘greenhouse effect’ decreased and the atmosphere cooled. This and other processes eventually led to the ‘ice Age’.


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Cyber Security

Investors must prioritize cybersecurity or risk losing money

Cyberattacks are increasing the demand for secure digital products; Investors have a responsibility and opportunity to motivate companies to prioritize cybersecurity; Cyber due diligence increases consumer trust, protects investor returns and creates a secure digital market for all

Investors can and should encourage companies to prioritize cybersecurity. Cyberattacks have almost doubled in the past five years, undermining consumer confidence and driving demand for more secure digital products that protect consumer privacy. Recent research by Bain & Company shows that consumers would buy more products and pay higher prices for Internet of Things (IoT) devices if their worries about cybersecurity were addressed.


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Survey

Expats Move Canada into the Medals as One of the Most Welcoming Countries in the World

Three out of four respondents come to Canada to stay; Switzerland overtakes Singapore as the best place in the world to live and work

As a nation built on a foundation of migration, Canada's historically strong population growth from both natural increase and net overseas migration makes it again one of the most welcoming countries in the world, according to HSBC's annual Expat Explorer survey. Canada was named the 3rd best country in the world overall for expats, rising one spot from its 2018 ranking. Switzerland rose seven places to overtake perennial winner Singapore to be named as the best place to live and work as an expat. Spain and New Zealand rounded out the top five.


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Environment Water

Eramosa River Conservation Corridor to Launch

The community is invited to celebrate the creation of the Eramosa River Conservation Corridor and participate in the 2019 BioBlitz at rare’s new property along the Eramosa River. With 87 newly protected acres, we need your help to build a species list for rare’s first land in Wellington Region! A bioblitz is an intense period of biological surveying where a group of experts, naturalists and volunteers attempt to record as many species as they can in one area over a specific time period, often 24 hours. Participants record all the animals and plants they find, and the species records are compiled into a single data set: the species list. This list provides a snapshot of the biodiversity in that location on that date.


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Developing Markets

Next Phase of Cannabis Retail Supports Ontario’s Budding Industry

Michelle Eaton, Vice President of Communications and Government Relations, Ontario Chamber of Commerce’s response to the Government of Ontario’s cannabis announcement yesterday

“Ensuring the private recreational cannabis market is successful is critical to the long-term viability of the sector and eliminating the illegal market. That is why we are pleased to hear the government is moving forward with the next phase of cannabis retail in Ontario by allocating 42 new licences for stores. “As recommended in our recent report, proceeding with a merit-based approach to licensing will help ensure retailers have the requisite capital and retail space to successfully open and operate stores. Additionally, providing small and rural municipalities that opted-into the cannabis retail market, regardless of population size, with the opportunity to open licensed retail stores will help support regional economic development by attracting investments, businesses, and jobs.


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LRT rides

300,000 ION light rail boardings during free service period

In the same period – June 21 to July 1 – over one million passengers (1,007,542) boarded GRT services system-wide.

A total of 299,760 passengers boarded ION light rail during the 11 days of free transit in Waterloo Region, which ran from June 21 to July 1 inclusive. This figure includes the period of reduced light rail service that took place on ION opening weekend.


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Job Posting

CFFB – Executive Director (Part-Time):

The Centre for Family Business (CFFB) is currently recruiting an Executive Director to serve the CFFB membership and the Board of Directors. The CFFB is a membership organization that serves family business in Waterloo Region and surrounding area.


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EVENTS


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July 19, 2019

Fairways 'n Friends

July 9th is just around the corner! 18 holes, delicious lunch and dinner, silent and live auctions, tasty samples, great memories, and raising funds for the community, need we say more? Fairways 'n Friends is the region’s premiere ladies golf tournament, reserve your spot on course at Whistle Bear today! www.supportstmarys.ca/fairways


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November 13-15, 2019

Sixteenth Annual Ontario Economic Summit to Address Competitiveness Challenges for Ontario Industry

Ontario’s business community to gather in Toronto to drive Ontario’s economic agenda forward

The Ontario Chamber of Commerce (OCC) announced advance access registration for the sixteenth annual Ontario Economic Summit (OES), “Our Economy. Our Future. Our Ontario.” OES will be hosted in Toronto for the first time in almost a decade at Hotel X and Beanfield Centre from November 13 to 15.




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Copyright, 2019