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NGP Capital backs Impossible Cloud Network at $470m valuation

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ICN wins investment from tech VC to expand decentralized cloud services

ZUG, Switzerland, May 23, 2025 /PRNewswire/ — Impossible Cloud Network (ICN), Web3’s leading decentralized cloud network, is announcing a new investment from NGP Capital, the venture capital firm that invested in Helium, is backed by telecommunications giant Nokia, and has just valued ICN at $470 million. 

Led by tech entrepreneur Kai Wawrzinek, founder of NASDAQ Unicorn Goodgame Studios, ICN is meeting increasing demand for data-sovereign cloud solutions. The funding round from NGP has attracted substantial interest from Web2 leaders keen to expand into this growing sector. 

Commenting on this significant milestone, Wawrzinek says: “With NGP Capital, we’ve found a perfect partner with deep expertise in cloud and edge computing that can advise on large-scale infrastructure projects. We are thrilled to be partnered with an investor who believes in ICN’s vision.”

With over $5 million of annual recurring revenue, ICN is already proving the case for decentralized cloud models, which offer significant cost savings compared to centralized providers. ICN’s research shows decentralized cloud solutions are 80% cheaper for enterprises than Amazon Web Services (AWS), while network performance is often superior.

More than this, decentralized cloud services are immune to centralized data control, manipulation, and information loss. By their very nature, decentralized networks also promote user empowerment and foster data sovereignty – both increasingly important factors in the age of AI.

NGP Capital has a history of backing transformative Web2 and Web3 companies, including Xiaomi and Helium. The firm has over $1.6 billion of assets under management and boasts 19 unicorns and 11 IPO exits. As such, its investment in ICN is a strong signal that data sovereignty and decentralized architecture are crucial future technologies.

Ossi Tiainen, Partner of NGP Capital, says, “We believe ICN’s innovative decentralized approach has the potential to reshape the global cloud landscape, providing data protection and data sovereignty where it doesn’t exist now. The company’s impressive traction and experienced team make ICN a serious contender among the next generation of cloud infrastructure providers, and we’re excited to be on board.”

ICN is currently poised to list its native token $ICNT, which will play a pivotal role in the ecosystem by rewarding independent node operators and providing governance rights to key stakeholders. The token’s upcoming launch on leading centralized exchanges will boost both accessibility and ecosystem growth as the firm expands globally.

About Impossible Cloud Network (ICN)

Impossible Cloud Network (ICN) is building a permissionless, open cloud network to rival Big Tech giants like Amazon Web Services (AWS) and Google. With resilient, high-performance decentralized cloud services, ICN is laying the foundation for a scalable, secure, and community-driven global cloud that supports enterprise, AI, gaming, applications, and end-users. With real-world adoption already generating million-dollar revenue and a vision for 200+ decentralized cloud services, ICN offers a true alternative to monopolistic hyperscalers.

Users can learn more about ICN: https://www.icn.global  

About NGP Capital

NGP Capital is a global VC that invests in early-stage technology companies across Europe and the US. For over two decades, NGP has invested in more than 120 companies, of which 19 became unicorns and 11 went on to IPO. Some of the companies NGP has backed include Lime, GetYourGuide, Helium, Deliveroo, The Exploration Company, and Xiaomi.

Users can learn more about NGP Capital at: https://www.ngpcap.com/ 

Contact
Rebecca Jones
Block3 PR
rebecca@block3.pr

Photo: https://mma.prnewswire.com/media/2694465/Impossible_Cloud_Network.jpg

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SOURCE Impossible Cloud Network

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Budget 2026: Masters of our Destiny – Minister Miller announces the rollout of $600 million targeted support to Canada’s audio and audiovisual sectors

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As announced in Budget 2026, the Government of Canada is providing important measures to support the audio and audiovisual sectors, and to protect access to public service media, productions from official language minority communities, Indigenous content, accessible programming, and local news.

GATINEAU, QC, Nov. 8, 2026 /CNW/ — In an increasingly turbulent world, Canada is determining its future. The federal Budget 2026 aims to make Canadians masters of their own destiny. The Canadian audio and audiovisual sectors are a major source of economic activity and jobs as well as a cornerstone of our country’s cultural sovereignty. 

Budget 2026 confirmed a $600 Million dollar investment in the audio and audiovisual sectors for this fiscal year. Today, the Honourable Marc Miller, Minister of Canadian Identity and Culture and Minister responsible for Official Languages, announced the funding rollout of these significant funds that will provide stability and direct support to the sectors while longer-term policy, regulatory and market conditions evolve.

The Government will focus on stabilizing Canada’s audio, audiovisual and news sectors while keeping Canadian culture accessible and affordable. To ensure rapid and effective delivery, the funding will be delivered through the following six existing programs and institutions that have proven efficiency and have trusted industry funding tools:

Canada Media Fund,Indigenous Screen Office,Canada Music Fund,Northern Aboriginal Broadcasting,Canada History Fund, andTelefilm Canada.

This new direct funding allocation will support Canada’s creativity, arts and culture by ensuring that:

Canada’s audio and audiovisual sectors become more competitive and resilient;Canadians can continue to consume homegrown content on multiple platforms;A broad range of Canadian music is consumed in Canada and abroad;More Indigenous people work on audiovisual content production and lead such projects and, so that the overall representation of Indigenous peoples in audiovisual media is improved; andCanadians across the country can experience stories that bring Canada’s history to life.

The funding rollout details as well as its administration and implementation are listed in the attached backgrounder.

Partnering organizations and programs will provide more details on their specific funding components as soon as possible.

Quotes

“Strengthening our audio and audiovisual sectors is at the core of protecting Canada’s sovereignty, our culture and our languages. With this crucial support, we will provide direct funding and much-needed stability so that our country’s artists, storytellers, creative entrepreneurs and cultural organizations can continue creating Canadian content that reflects who we are and helps us remain masters of our destiny.”

–Marc Miller, Minister of Canadian Identity and Culture and Minister responsible for Official Languages

Quick Facts

In June, the government announced it would update the directions to the CRTC on regulating online streaming services, with a focus on affordability, and that it would invest $600 million to provide stability and support to Canada’s audio and audiovisual sectors.Canadian culture, including the music, audio and audiovisual sectors, are strategic assets and key economic drivers that directly contributed $69.1 billion to the GDP in 2025 and employed 687,824 people as of March 31, 2026.

Related Products

Budget 2026: Masters of our destiny – Backgrounder: Administration and implementation of $600 Million targeted support for Canada’s audio and audiovisual sectorsGovernment of Canada announces immediate support to strengthen Canadian culture and ensure Canadian content remains affordable

Associated Links

Budget 2026: Masters of our destiny Canada Media Fund Indigenous Screen Office program Canada Music Fund Northern Aboriginal Broadcasting Canada History Fund Telefilm Canada 

Budget 2026: Masters of our destiny – Backgrounder: Administration and implementation of $600 Million targeted support for Canada’s audio and audiovisual sectors

Following the announcement of Budget 2026, the Honourable Marc Miller, Minister of Canadian Identity and Culture and Minister responsible for Official Languages, today announced the funding rollout of the $600 Million investment that will provide stability and direct support to Canada’s audio and audiovisual sectors while longer-term policy, regulatory and market conditions evolve.

The Government will focus on stabilizing Canada’s audio, audiovisual and news sectors while keeping Canadian culture accessible and affordable. It will help sustain public-interest programming, local and community media, official language minority community production, the production and promotion of Canadian and Indigenous content, and the continued operation of services of exceptional importance.
This list provides details of the funding administration and implementation.

This list provides details of the funding administration and implementation.

List of organizations and funding mechanisms that will distribute the funding support

Recipient

Funding allocation description

Funded
amount

Canada Media Fund Corporation

 

 

 

Certified Independent Production Funds, the Broadcasting Accessibility Fund, the Independent Local News Fund and Commercial Radio News Fund, the Community Radio Fund, the Broadcasting Participation Fund and Public Service Media

Canada Media Fund Corporation:

This funding will help sustain Canadian content creation and mitigate the impact of declining private-sector contributions from cable and satellite companies, as well as expected contributions from international streaming platforms. The Canada Media Fund Corporation will rapidly deploy the new funding through enhancements to existing programs and the introduction of new initiatives that will support the entire value chain of the industry: from training, to creation, to production, to promotion, to sector and business development. Priority areas will also include francophone programming, children and youth content, interactive digital media (IDM), distribution and export initiatives. As an independent not-for-profit, the Canada Media Fund Corporation will allocate these funds through its programs based on industry needs.

 

Various independents funds:

Delivered by the Department of Canadian Heritage, this funding will include:

Certified Independent Production Funds such as the Black Screen Office, Canadian Independent Screen Fund, Broadcasting Accessibility Fund, Bell Fund, Independent Production Fund, TELUS Fund, Quebecor Fund, Shaw Rocket Fund, Vox Fund and M.É.D.I.A Fund. These will support diverse, accessible and inclusive content and official languages minorities communities;

The Independent Local News Fund and Commercial Radio News Fund will sustain independent local television and commercial radio news, through the Canadian Association of Broadcasters; the Community Radio Fund will strengthen community radio through operational support and sector development;

Together, these investments will extend supported activities beyond content production to address priorities across the broader broadcasting ecosystem, including diversity and accessibility, local news, community radio and public participation in the broadcasting system; The Public Service Media component will be used to deliver additional support to Services of Exceptional Importance, such as the Canadian Public Affairs Channel, Aboriginal Peoples Television Network and TV5 Québec Canada. Funding will ensure the continued operation of these services through support for technology modernization, infrastructure renewal, digital transformation, programming, production, discoverability, accessibility and preservation. This funding would serve as a bridge toward the implementation of a Services of Exceptional Importance Fund.

Certified Independent Production Funds: $44M

Independent Local News Fund: $80M

Commercial Radio News Fund: $11.5M

Community Radio Fund: $7.5M

Services of exceptional importance: $42.1M

$213.4 million

 

 

 

$185.1 million

Indigenous Screen Office

The Indigenous Screen Office will support the Indigenous audiovisual sector and for the production, promotion and discoverability of Indigenous audiovisual content in Canada and abroad. The funding will help grow Indigenous content creation, support the development of this sector and increase international collaborations between Indigenous creators from Canada and abroad. The Indigenous Screen Office corporation, as an Indigenous-led and independent third party, will allocate funding through its programs based on industry needs.

$51 million

Canada Music Fund

Canadian Heritage’s Canada Music Fund will provide support for the production and promotion of Canadian and Indigenous music. This funding will be further distributed by the Canada Music Fund’s two current initial recipients, the Foundation Assisting Canadian Talent on Recordings (FACTOR) and Fondation Musicaction (Musicaction) and three new initial recipients: the Canadian Starmaker Fund, Fonds RadioStar, and the Indigenous Music Office (IMO).

FACTOR: $31.5M

Musicaction: $21.0M

Canadian Starmaker Fund: $5.7M

Fonds RadioStar : $3.8M

IMO : $5.0M

$67 million

Northern Aboriginal Broadcasting

Canadian Heritage will fund culturally relevant Indigenous radio and television content through its Northern Aboriginal Broadcasting program. The funding will benefit Indigenous broadcasters to continue preserving, promoting and revitalizing Indigenous languages and provide platforms for Indigenous audiences to discuss issues important to their communities.

$10 million

Canada History Fund

Through the Canada History Fund, Canadian Heritage will provide funding to support audiovisual programming and related costs.

Up to $5 million

Telefilm Canada

Telefilm Canada will allocate its funding to support the sustainability and growth of the audiovisual industry, as well as the competitiveness and international reach of Canadian and Indigenous feature films, with an audience-driven approach. As a Crown corporation, Telefilm Canada will receive funding through parliamentary appropriations.

$68.5 million

Total targeted support to Canada’s audio and audiovisual sectors in 2026-2027

$600 million

Note: In June, the government announced it would update the directions to the CRTC on regulating online streaming services, with a focus on affordability.

SOURCE Canadian Heritage

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KeyStone Solutions Wins 2026 MSP 501 Vanguard Award for Innovation

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KeyStone Solutions, a managed IT and cybersecurity provider based in Cleveland, Tennessee, has won the 2026 MSP 501 Vanguard Award from Channel Partners and MSP Summit. The award recognizes managed service providers at the forefront of technology and service innovation.

CLEVELAND, Nov. 8, 2026 /PRNewswire-PRWeb/ — KeyStone Solutions, LLC has won the 2026 MSP 501 Vanguard Award from Channel Partners and MSP Summit. The award was presented Sept. 30 at the MSP 501 Gala during the MSP Summit in Orlando, Fla.

“Our team has done tremendous work over the last year to modernize and automate our service delivery.” Preston West, CEO, KeyStone Solutions

The MSP 501 Special Awards are application-based. A panel of industry leaders, including top global MSPs, analysts and past award recipients, judges each entry.

The Vanguard Award goes to a company at the forefront of technology and service innovation in the managed services channel, including AI, cybersecurity and cloud. Winners use original thinking to meet clients’ needs and to drive their own financial success.

“We are honored to be recognized. Our team has done tremendous work over the last year to modernize and automate our service delivery. I couldn’t be prouder of their hard work and their focus on the customer experience,” said Preston West, CEO of KeyStone Solutions.

“To qualify for the Vanguard award, companies had to document what they have done in terms of innovative and original thinking in meeting clients’ needs and how this has contributed to the company’s overall financial success,” said Dave Raffo, MSP 501 editor who oversees the awards process. “These are among the most innovative MSPs in the world.”

“The MSP 501 Special Awards represent the pinnacle of achievement in the managed services industry, recognizing organizations and individuals who have demonstrated extraordinary leadership, innovation, and impact,” said Robert DeMarzo, VP Content, Informa Channels, which conducts the MSP 501 survey each year.

About KeyStone Solutions, LLC

KeyStone Solutions is a managed IT and cybersecurity company based in Cleveland, Tennessee. Since 2006, KeyStone has worked as the IT department for hundreds of small and mid-sized businesses, with customers headquartered in 15 states. Its ITTaaS® (IT Team as a Service) offering delivers help desk support and cybersecurity, with optional vCISO and GRC services, and the company now provides AI services. KeyStone holds a SOC 2 Type II report and is a Microsoft 365 Solutions Partner. Learn more at keystone.solutions.

About Channel Partners, MSP Summit and the MSP 501

Channel Partners Conference & Expo and MSP Summit serve the global community of technology advisors, managed service providers, channel partners and technology suppliers, and run the MSP 501, which honors the world’s top-performing managed service providers. Learn more at themspsummit.com.

Media Contact

Richard King, KeyStone Solutions, 1 4234646424, rking@keystone.solutions, www.keystone.solutions

Dave Raffo, Informa, david.raffo@informa.com, informa.com

View original content:https://www.prweb.com/releases/keystone-solutions-wins-2026-msp-501-vanguard-award-for-innovation-302932350.html

SOURCE KeyStone Solutions

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Putting Young Innovators Center Stage: Leaders In Future Tech+ Wraps with ¥526 Million in Investment Intentions and 31 Enterprise Landings

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NANJING, China, Nov. 8, 2026 /PRNewswire/ — On November 7, the grand finale of Leaders In Future Tech+ — a documentary sci-tech innovation program jointly produced by China Media Group, the Ministry of Education, and the Nanjing Municipal People’s Government — aired as the Youth Innovation Carnival.

Since its October 3 premiere, the program traveled to 10 cities across China, selecting 100 teams of young innovators with an average age of just 28 from nearly 500 applicants. Fifteen finalists advanced to the finale, presenting breakthroughs spanning AI chips, optical interconnect, biomedicine, smart agriculture, and more.

To date, the program has facilitated ¥526 million in investment intentions covering 34 participating enterprises, and helped 31 companies reach landing agreements with 11 districts and counties of Nanjing.

At the carnival, the “Leaders In Future Tech+ Little Giant Transformation Plan” was launched, with 13 enterprises selected in the first batch to receive a five-module service system guiding them toward specialized, high-end development.

Behind these numbers is a media-driven innovation model: closed-door investment meetings were turned into open, transparent dialogues, connecting young innovators directly with venture capital firms, academicians, industry experts, and local governments — with the focus not on short-term commercial maturity, but on long-term growth potential.

The finale also showed how technology serves everyday life: non-invasive brain-computer interface demonstrations, low-cost bone-repair materials, and ultra-low-cost fresh-keeping cards that reduce agricultural loss — each a footnote to innovation with human warmth.

With Season One concluded, Season Two recruitment is now open to innovation teams nationwide via China Media Group’s official channels and the Yangshipin app (CMG Mobile). As the program’s message goes: put young innovators at center stage — and hand the future to innovation.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/putting-young-innovators-center-stage-leaders-in-future-tech-wraps-with-526-million-in-investment-intentions-and-31-enterprise-landings-302932710.html

SOURCE China Media Group

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