Seven Greater Victoria organizations receive funding to research and commercialize new technologies, create quality jobs, and increase global competitiveness
Victoria – Across British Columbia, forward-thinking businesses and organizations are generating innovative solutions to global challenges. To strengthen B.C.’s position as a leader in industries such as ocean technology, life sciences, and clean energy, the Government of Canada is making investments in businesses and organizations on Vancouver Island.
Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced an investment of over $8.1 million in PacifiCan funding to help seven Greater Victoria organizations boost innovation networks, drive business growth, and create new jobs and training opportunities. This includes $5.7 million for four organizations through PacifiCan’s Regional Innovation Ecosystems program, over $2.2 million for two companies through PacifiCan’s Business Scale-Up and Productivity program, and $250,000 for one company through PacifiCan’s Jobs and Growth Fund.
Minister Sajjan made the announcement with the South Island Prosperity Partnership, Greater Victoria’s economic development alliance, which is receiving $3 million to establish the new Centre for Ocean Applied Sustainable Technologies (COAST) and support activities led by the Indigenous Prosperity Centre (IPC). COAST will expand B.C.’s emerging ocean technology sector by bringing together entrepreneurs, governments, researchers, and industry partners to address climate challenges and boost the local ocean economy. IPC is a new Indigenous-led arm of SIPP dedicated to supporting Indigenous-led economic development in ocean monitoring and conservation on southern Vancouver Island.
The investments announced today also include almost $1.9 million for two projects with the University of Victoria, including $1.2 million for the Proteomics Centre to purchase and install a flex mass spectrometer, the first instrument of its kind in Canada which will allow local companies to advance drug development and cancer research. The University’s Pacific Regional Institute for Marine Energy Discovery is also receiving $658,000 to develop opportunities to replace diesel generators with renewable energy sources, such as ocean waves and tidal currents, on Haida Gwaii.
More details about the organizations and businesses receiving funding can be found in the backgrounder here. In total, this investments are expected to create over 800 jobs, generate $23 million in revenue growth, and provide training opportunities for over 500 British Columbians.
“British Columbia has both the talent and natural resources to create diverse, inclusive and thriving economies in all corners of the province. By investing in some of Vancouver Island’s most innovative organizations, and bringing together leaders in emerging industries such as ocean technology, life sciences, and clean energy, PacifiCan is propelling partnerships and prosperity across British Columbia.” – Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada