Quarterly Update

Starting with a quick nod to our commercial and hospitality real estate operations, the loosening of pandemic-related restrictions in most jurisdictions mean that business is returning aggressively. Office spaces are filling back up, conference bookings are returning to the ICC in Wales, and the hotel properties are working hard to meet escalating demand. It is shaping up to be a very active summer season, which is a welcome change despite ongoing challenges that include staffing and supply chain limitations.

On the technology front, as noted there were a range of positive developments this Quarter. In terms of the Alacrity start-up program, the team in the UK has already launched three new companies this year. And in Alacrity Canada, companies in the Cleantech program have already been able to step up and respond to new, real-world challenges stemming from the undeniable changes in the global climate. A summary of results to-date from the global Alacrity program is provided in this issue.

L-SPARK continues to mentor and help grow some of the most innovative young companies out there. Two new Corporate Accelerators have been launched in 2022, focused on digital health care and autonomous vehicles — cutting-edge to say the least. And speaking of digital health technologies, portfolio company Cliniconex continues to grow by responding to the needs and helping advance the state of care provided to those in senior homes and facilities.

As I always like to see, two portfolio companies from very different geographies have now partnered to add more customer value to each of their solutions. Teldio deployed an industry-first IoT technology solution to monitor and maintain AED devices in the first of several U.S. state airports. ThinkRF struck a partnership to push the protection and management of vital, highly valuable public wireless spectrum to new levels. And Solink continued to grow impressively, setting new highs in terms of customer installations, new pipeline opportunities, recurring revenues and annual run-rate.

Lots of news to share indeed. I trust you will enjoy reading about it. Thank you as always for your continued interest, and stay well.

Kind Regards,
Terry Matthews, Chairman