KITCHENER, Ontario--(BUSINESS WIRE)--Communitech, in partnership with the Schulich Foundation and Leaders Fund, revealed the problem statement for the Leaders Prize Competition Wednesday. This first-of-its-kind competition in Canada will award $1 million to the winning team using artificial intelligence (AI) to solve a global problem that is undermining our democracies: fake news and the spread of misinformation.
Teams across Canada are invited to create solutions to automatically verify a series of claims, flag whether they are true, partly true, or false and provide evidence to support their determination. The prize will ultimately be awarded to the most effective and efficient AI based fact-checking solution.
“This competition will inspire the creation of breakthrough solutions that inform our citizens if the online content they consume is accurate, before and as they read it,” said David Stein, Co-Founder and Managing Partner, Leaders Fund. “It is our goal that the solutions developed through this competition provide the foundation for new companies and solutions that have a distinctive edge and global applicability.”
Individuals or groups can register at www.leadersprize.ca, provided they reside in Canada. Applicants will have one year to solve the Leaders Prize, with the winner announced and awarded in June 2020 in Waterloo Region.
“Canada is leading the way in artificial intelligence,” said Iain Klugman, CEO, Communitech. “The Leaders Prize is an opportunity to focus talented Canadians on solving this global problem in a meaningful way.”
Further competition details, rules and regulations are outlined on the website.
Communitech was founded in 1997 by a group of entrepreneurs committed to making Waterloo Region a global innovation leader. At the time it was crazy talk, but somehow this community managed to pull it off. Today, Communitech is a public-private innovation hub that supports a community of more than 1400 companies — from startups to scale-ups to large global players.
Communitech is a member of the Ontario Network of Entrepreneurs and helps tech companies start, grow and succeed in three distinct ways.
● Communitech is a place – the center of gravity for entrepreneurs and innovators. A clubhouse for building cool tech and great companies.
● Communitech delivers programs – helping companies at all stages with access to capital, customers and talent. We are here to help them grow and innovate.
● Communitech partners in building a world-leading ecosystem – making sure we have all the ingredients (and the brand) to go from a small startup to a global giant.
About Schulich Foundation
Founded by leading businessman and philanthropist Seymour Schulich, The Schulich Foundation is one of Canada’s largest foundations. They have donated over $350 million, with a focus on scholarships, education, and health care centers. The Schulich Foundation is investing heavily to create the next generation of technology leaders.
About Leaders Fund
Leaders Fund is a leading venture capital firm investing in high growth enterprise software companies. Their $100 million, Fund I has made investments in Canada, USA, and Israel. They use their experience successfully building and exiting nine software companies to help entrepreneurs build world class enterprises.