Narwhals, unicorns and profits – Canadian tech start-ups are on the rise

Unicorns and narwhals – what business do these creatures have in boardrooms and on stock exchanges? “Unicorn” and “narwhal” are industry terms used to describe certain private start-up tech companies. “Unicorns” are start-ups valued by investors at $1B or more, a rare and substantial feat that has earned them their mythical nickname. “Narwhals” sit a stage below, vying for graduation to unicorn status. The Canadian Unicorn Pipeline The Toronto-based Impact Centre recently posted its 2019 Narwhal List (the List), which identifies nascent Canadian companies that may evolve into unicorns, as well as the financial avenues that can facilitate such transformations. Some of the report’s notable 2018 statistics include the following: The number of firms projected to become unicorns has nearly doubled. The List’s 25 technology companies raised an average of $40M in new capital, and its 2 healthcare companies averaged…

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