Refocusing on Our Roots: ANC Embraces AI with a Renewed Vision
By George Pu, CEO at ANC
January 25, 2024
ANC has always stood for innovation and the relentless pursuit of empowering technologies. We began as a 2-person team in a student dorm room at the University of Waterloo with nothing but a computer and a phone. To this day, coding and being able to build new businesses with software has been our passion.
Three years ago we started ANC with our quantitative trading desk, ANC Capital. Our journey has been nothing but extraordinary. We are able to build quantitative trading software tools that even institutions don't have access to or the capacity to build.
Our tools, from ANC-Trading to ANC-Linear-Trading models, have not only transformed our own Equity Trading desk but have also become staples for financial tech enthusiasts around the globe. On average, they've been integral to highly successful financial strategies, both within our walls and beyond.
But at ANC, we're about staying true to our startup soul. The more we diversified, the clearer it became that our passion and our strengths lie in technology and startups - particularly within the rapidly advancing realm of AI.
So, in the spirit of staying agile and keeping our focus, we're returning to our roots. We're ramping down our Equity Trading operations to channel our full attention and resources into ANC Ventures, ANC Startup School, and the upcoming ANC Accelerator. This shift marks a conscious decision to energize our core mission of nurturing tech startups from the ground up.
Regrettably, this strategic pivot means we're reshaping our team to align with our renewed focus. This is the hardest part of evolving as a company – saying goodbye to some of our incredible colleagues who've been with us on the trading side of our journey. Today, we part ways with roles that were key to our equity trading chapter but don't fit the script of our next act in AI and startup acceleration. It's tough to see teammates go, and I want to recognize their amazing work and the indelible impact they've had on ANC.
While we're closing one chapter, we're diving headfirst into another – and it's electrifying. We're doubling down on ANC's startup ecosystem. This is where our heart beats strongest: fueling early-stage founders with the tools, mentorship, and community they need to scale new technological heights. Our upcoming AI Hub launch stands as a testament to that dedication.
For the founders, partners, and customers we've worked with in our trading endeavors, know that our commitment to your success remains unwavering. We're still here, just sporting a more streamlined outfit. And for anyone wondering about what this means for the future – it's full steam ahead toward a more focused, AI-driven horizon. Expect the same pioneering spirit, now with an even sharper edge.
To our ANC family, thank you for riding this wave of change with us. Your adaptability and support fuel our collective growth.
And to our alumni and the startups that have been part of the ANC journey, rest assured that the essence of what makes ANC an incubator of innovation remains unchanged. We are dedicated to your ongoing evolution, learning from the past, and building for the future.
The rollout of our ANC Accelerator is imminent, and with this, we are thrilled to offer a continuation of our support – this time with a refined focus on AI and tech startups that are post-revenue and poised for explosive growth. The digital-first approach of our Accelerator will ensure accessibility and inclusivity, with our physical footprints in Toronto and Dubai serving as hubs for collaboration and innovation.
Change is never easy, but it's the lifeblood of the tech world. It's how we stay relevant, resilient, and ready to tackle the next challenge. For those with questions or who may be directly affected by this change, please reach out. My inbox is open, and I, alongside the entire leadership team at ANC, am committed to guiding us through this transition smoothly and transparently.
This isn't just a strategic shift; it's a recommitment to our fundamental belief that in the world of tech, the next big thing could come from anywhere – and we want to be there when it does. Let's build that future together.
Onward and upward,
George Pu, Co-Founder and CEO, ANC