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Canadian startups brace for U.S. tariff fallout, survey shows

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A new survey from MaRS Discovery District and Communitech finds Canadian startups facing revenue risks and exploring alternative markets as U.S. trade uncertainty grows. 

TORONTO, March 31, 2025 /CNW/ – A new survey conducted by MaRS Discovery District and Communitech reveals that Canadian startups are preparing for significant disruption if U.S. tariffs are imposed. More than three-quarters of respondents expect direct or indirect impacts on their businesses, with potential implications for revenue, investment and hiring.

The survey, conducted between February 10 and March 10, 2025, gathered responses from more than 175 startups across healthtech, cleantech and advanced manufacturing. The findings underscore Canadian startups’ reliance on U.S. markets and the urgent need for ventures to diversify their revenue streams and secure alternate growth pathways.

Key survey insights:

70% of startups generated U.S. revenue in 2024, reflecting an overarching reliance  on cross-border trade.41% foresee a direct hit to 2025 revenue if proposed tariffs are imposed, with some companies already exploring new markets.58% raised concerns about cross-border sourcing, voicing  worries about supply chain stability.64% of companies are not planning to reduce headcount, affirming  a strong commitment to retaining talent in the face of  uncertainty.26% of ventures are reassessing international expansion plans with a renewed focus on the U.K., EU and Asia. 

“The threat of U.S. tariffs is forcing Canadian founders to rethink growth strategies and explore alternative markets,” says Grace Lee Reynolds, CEO of MaRS Discovery District. “This is a critical moment for Canada to strengthen its innovation ecosystem and create new pathways for global growth.”

Read the full analysis on the MaRS website: Bracing for impact: Volatile trade relations with the U.S. could have devastating effects on Canada’s innovation ecosystem 

About MaRS
MaRS Discovery District is a charitable organization and North America’s largest urban innovation hub, dedicated to helping Canadian technology companies succeed. With a focus on climate, health sciences and other emerging technologies, MaRS supports startups tackling some of the world’s most pressing issues.

MaRS spans more than 1.5 million square feet of cutting-edge office, lab, meeting and event space in downtown Toronto across two locations — the MaRS Centre and MaRS Waterfront. Since 2010, MaRS has helped ventures generate $11.5 billion in cumulative revenue, raise $19 billion in funding, and create and maintain more than 33,000 jobs. The MaRS platform also includes MaRS IAF, one of Canada’s top seed-stage venture funds. Through its world-class facilities, strategic programs and partnerships, MaRS accelerates the adoption of groundbreaking Canadian technology and bolsters a globally competitive innovation ecosystem.

SOURCE MaRS Discovery District

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KUKA Global Executives Visit Centron for Technical Exchange on Intelligent Assembly Manufacturing

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A KUKA global executive delegation, led by the Vice President of Midea Group, visited Centron for an on-site tour and in-depth exchange on the development of intelligent assembly manufacturing and global market trends.

WUXI, China, Sept. 1, 2026 /PRNewswire/ — Last week, a global executive delegation from the KUKA Group, led by the Vice President of Midea Group, visited Centron. The delegation comprised members of KUKA Group’s headquarters leadership team, together with business heads from multiple countries and regions.

As a leading global supplier of industrial robots and automation solutions, KUKA’s decision to visit with a delegation of this level reflects both sides’ shared interest in the development trends of intelligent assembly manufacturing. During the visit, the two sides held in-depth exchanges on industry developments, shifts in global markets, and potential areas of future synergy.

The delegation was hosted by Jed Wang, CEO of sister brand Leetx; Ouyang Su, General Manager of the Centron Product Line; Mike Wang, General Manager of the Centron Business Line; and Samuel Chen, Sales Director of Overseas Business. The KUKA executive team toured Centron’s manufacturing base and gained a first-hand understanding of Centron’s product portfolio and manufacturing capabilities in precision dispensing, potting, and trickling impregnation, and also received a briefing on Leetx’s positioning in intelligent assembly technologies, including tightening, press-fitting, and automatic screw feeding.

In the exchange session that followed, the two sides drew on their respective global business experience to share observations and exchange views on the pace of development in the Chinese market, evolving manufacturing needs overseas, the future direction of the intelligent assembly manufacturing industry, and the technology roadmaps of process equipment and robotic platforms.

Jed Wang, CEO of Leetx, commented: “We place great value on exchanges with globally leading automation companies such as KUKA. This visit by KUKA’s global executive team offered a valuable opportunity for both sides to deepen mutual understanding, share global market experience, and explore directions for potential future collaboration. As intelligent manufacturing continues to evolve, open dialogue and industry-wide synergy will open up new possibilities for innovation across the sector.”

This high-level visit also reflects a broader industry trend: the accelerating convergence of industrial robotics, precision dispensing, and intelligent assembly technologies. As vehicle electrification continues to advance, and as levels of automation continue to rise across vehicle assembly, power battery, and automotive component production, the coordination between robotic platforms and process equipment is becoming an increasingly important foundation for improving production quality, manufacturing efficiency, and process consistency. In light of this trend, Centron will continue to maintain open communication with partners across the value chain and to follow the emerging opportunities in intelligent assembly manufacturing with close attention.

About Centron
Centron is a high-tech enterprise that integrates R&D, manufacturing, sales, and customer service, dedicated to delivering advanced, reliable, and precise dispensing, potting, and trickling impregnation solutions for the automotive, e-mobility, energy storage battery, and industrial manufacturing sectors. Building on its continued investment in process automation and digital traceability, Centron supports its customers in achieving consistent quality performance and efficient operations at scale.
www.centronsys.com/en/

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ASTRI and Saudi Digital Government Authority Sign Strategic Partnership to Advance Digital Innovation and AI Development

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HONG KONG, Sept. 1, 2026 /PRNewswire/ — The Hong Kong Applied Science and Technology Research Institute (ASTRI) and the Digital Government Authority (DGA) of Saudi Arabia have signed a Memorandum of Understanding (MoU) at LEAP 2026 in Riyadh, establishing a strategic partnership to advance digital government innovation and artificial intelligence research.

Witnessed by Dr Abdullah Mohammed AlFaifi, Vice Governor of Investment and Government Excellence at the DGA, the MoU was signed by Ir Dr Ted Suen, Chief Executive Officer of ASTRI, and Abdulmalik Alhoti, Deputy CEO of Innovation & Emerging Technologies Centre and Senior General Manager of Digital Innovation at the DGA.

The partnership establishes four core areas of collaboration: knowledge exchange through joint technical workshops on AI and emerging technologies; talent development via researcher secondment, PhD exchange and internship programmes; joint research opportunities in AI, digital government, and emerging technologies; and proof-of-concept validation through DGA’s sandbox environment.

Ir Dr Ted Suen, Chief Executive Officer of ASTRI, said: “This MoU represents a milestone for ASTRI’s expansion into the Middle East market, and underscores the strong synergies between Hong Kong SAR’s world-class applied research capabilities and Saudi Arabia’s visionary digital transformation agenda. Through knowledge exchange, talent development, joint research and proof-of-concept validation, we look forward to contributing to Saudi Vision 2030 while strengthening Hong Kong SAR’s position as a leading international innovation and technology hub.”

Abdulmohsen A. Almadi, Chief Executive Officer of Innovation and Emerging Technology at the DGA, said: “Our partnership with ASTRI represents an important step in shaping the future of digital government by advancing innovation and strengthening collaboration in emerging technologies, building on Saudi Arabia’s leading global position in this field. By combining expertise in applied research, talent development, and experimentation, this collaboration will support the development of innovative solutions, strengthen capabilities, and accelerate the practical application of emerging technologies.”

The MoU follows ASTRI’s participation at the inaugural LEAP EAST in Hong Kong SAR, and marks a further step in the institute’s Middle East market expansion. Ir Dr Ted Suen led an ASTRI Business Mission to Saudi Arabia from 30 August to 2 September 2026, engaging with key government agencies, large corporations and technology companies.

Photos Download: https://bit.ly/45C67ly

 

About ASTRI

Founded in 2000 by the HKSAR Government, Hong Kong Applied Science and Technology Research Institute (ASTRI) is the city’s largest government-funded R&D centre. Committed to transforming high-impact research into practical innovations, ASTRI drives market-driven, interdisciplinary advancements across sectors, including Smart City, FinTech, Digital Health and Life Sciences, New Industrialisation and Intelligent Manufacturing, Application-Specific Integrated Circuits (ASIC) and Advanced Electronics, New Energy and Energy Storage, and Green and ESG Technologies. Following its merger with the Nano and Advanced Materials Institute, ASTRI has further strengthened its capabilities, with over 1,500 patents and 2,200 successful cases of technology transfer. Recognised with numerous international awards, ASTRI continues to nurture top I&T talent and foster collaborations among the I&T ecosystem, contributing to Hong Kong’s high-value economic development. For more information, please visit: https://www.astri.org.

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SOURCE Hong Kong Applied Science and Technology Research Institute (ASTRI)

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Hexaware Becomes Official Partner of Dublin Guardians Playing in the Inaugural European T20 Premier League Season

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Sponsorship extends Hexaware’s association with franchise cricket to Europe

MUMBAI, India, Sept. 1, 2026 /PRNewswire/ — Hexaware Technologies (NSE: HEXT), an AI-first digital and IT services company, today announced its sponsorship of Dublin Guardians as an Official Partner for the team in the inaugural season of the European T20 Premier League (ETPL).

The sponsorship comes as franchise cricket establishes a new foothold in Europe, where Hexaware has operations and continues to build local teams and capabilities across the region. The first ICC-sanctioned ETPL in mainland Europe opened on August 26 with six city-based teams from Ireland, Scotland, and the Netherlands. The league also gives European players more opportunities to compete at a professional level alongside established international cricketers.

Dublin Guardians represents the Irish capital in the competition. Rahul Dravid, former India captain and coach of the 2024 T20 World Cup-winning side, is among the franchise owners. The team is captained and mentored by Ravichandran Ashwin, India’s second-highest wicket-taker in Test cricket.

“The opportunity to support local talent is an important part of what appealed to us,” said Parameshwaran Iyer, Executive Vice President, Head – UK and Europe, Hexaware. “The ETPL can give more players across Europe the chance to compete at a higher level and help strengthen the game from the grassroots up. We’re pleased to support Dublin Guardians as part of that effort.”

“I’m delighted to welcome Hexaware as a partner of the Dublin Guardians for our inaugural season. It’s exciting to have organisations like Hexaware that share our belief in teamwork, ambition, and excellence alongside us as we begin this journey,” said Rahul Dravid, Chairman, Dublin Guardians.

“Hexaware is a strong addition to the Dublin Guardians journey. Its focus on building local capability in the markets where it operates connects well with what we’re trying to do here,” said Ajit Ravindran, CEO, Dublin Guardians. “For us, that means creating more opportunities for local players to develop and compete at a higher level.”

The sponsorship follows Hexaware’s association with the San Francisco Unicorns in Major League Cricket in the United States, which marked the company’s first association with franchise cricket.

The ETPL is being organized with Cricket Ireland, Cricket Scotland, and the Royal Dutch Cricket Association. The first season runs until September 20, 2026. The tournament began in the Netherlands and moves to Malahide in Dublin on September 9.

For more information, click here: https://www.etplofficial.com/teams/dg

About Hexaware

Hexaware is a global technology and business process services company. Every day, Hexawarians wake up with a singular purpose: to create smiles through great people and technology. With offices across the world, we empower enterprises worldwide to realize digital transformation at scale and speed by partnering with them to build, transform, run, and optimize their technology and business processes. Learn more about Hexaware at https://hexaware.com.

 

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