Canadian startup gets a ‘huge honour’ from the World Economic Forum
WATERLOO REGION — Applied Brain Research, a startup out of the University of Waterloo, is the only company in Canada to be named a 2018 Technology Pioneer by the World Economic Forum in Davos, Switzerland.
“It is a huge honour,” said co-chief executive officer Chris Eliasmith. “It was surprising and exciting.”
Applied Brain Research, which came out of the university’s Centre for Theoretical Neuroscience, is among 61 early stage companies selected by the foundation as new technologies poised to have a significant impact on business and society.
The startup developed a computer language called Nengo that is used to program a new class of computer chips that mimic the human brain.
Known as neuromorphic chips, the technology can deliver artificial intelligence computing that is faster, more accurate and uses less power than conventional computer processors.
The startup recently signed a deal with Intel to modify the tech giant’s latest research chip called Loihi.
“We are programming the first neuromorphic chips to come out of Intel,” said Eliasmith.
“That’s what the World Economic Forum is acknowledging. This seems like a new kind of computing, a new age of computing.”
Intel announced its first neuromorphic chip in February, and had already tapped Applied Brain Research to provide the programing tools to help other developers create advanced artificial intelligence applications using that chip.
In addition to Intel, Applied Brain Resarch is working with large car companies and other manufacturers.
The startup, which employs 14 people, has built the world’s largest brain simulator, known as Spaun, using its programming language Nengo.
Applied Brain Research was selected for the World Economic Forum by a group of 60 academics, entrepreneurs, venture capitalists and corporate executives.
The group based its decisions on innovation, impact and leadership — among other criteria.
Past recipients include Google, Airbnb, Kickstarter, Mozilla, Palantir Technologies, Spotify, Transferwise, Twitter and Wikimedia.
“It will kind of continue to build the momentum we are experiencing right now,” Eliasmith said of the recognition. “We are extremely busy.”
The startup’s other co-CEO, Peter Suma, will be attending a special meeting of the World Economic Forum in Tianjin, China, in September with other representatives of the other early-stage companies named as world leaders.
“We are honoured to be among this year’s class of inspiring Technology Pioneers,” said Suma, a venture capitalist.
“Our whole team is very appreciative of the support of the World Economic Forum.”
The World Economic Forum is a nonprofit foundation that brings together leaders from academia, business and politics.