Seven local businesses and organizations will receive funding to commercialize new products, expand operations, and access global markets
Vancouver – Vancouver is brimming with the talent and industry-leading ideas to meet global demand for Canadian products and services. That is why the Government of Canada is making strategic investments in projects that are helping scale-up local businesses to develop and market new technologies.
Mary Ng, Minister of Export Promotion, International Trade and Economic Development, on behalf of Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced almost $14 million in PacifiCan funding to help seven Vancouver-based businesses and organizations in British Columbia grow even faster.
The funding announced today includes over $11.5 million for four companies through PacifiCan’s Business Scale-Up and Productivity program and over $2.4 million for three companies through its Jobs and Growth Fund.
Minister Ng made the announcement at Clarius Mobile Health in Vancouver, a medical device company receiving over $3.3 million in PacifiCan funding. This investment will help Clarius accelerate export sales of its wireless handheld ultrasound devices, designed for point-of-care use by medical professionals. Point-of-care ultrasound exams are performed outside the radiology suite to allow for quicker insights and decisions during a patient’s appointment.
Clarius’ ultrasound technology connects to electronic devices such as smartphones and tablets, allowing clinicians access to medical imaging in real time, which can improve patient care and reduce health care costs. PacifiCan’s investment will allow Clarius to implement new sales models in international markets, creating 77 jobs.
Clarius’ business potential was recognized by PacifiCan in 2022 with a $2.4 million investment to support expansion internationally by registering its device in 10 new markets and growing distribution partnerships. Subsequently, in July 2023, with input from an independent selection panel, Clarius was announced as one of the firms included in the Global Hypergrowth Project – a whole-of-government initiative which helps high-potential Canadian firms to scale and become anchor firms in Canada.
More details about the businesses and organizations receiving funding can be found in the backgrounder here. These investments are expected to create over 380 jobs, over $330 million in revenue growth, and $226 million in new global sales for B.C. businesses.
“Vancouver is home to many of British Columbia’s brightest and boldest changemakers who are driving innovation and economic growth in our province. PacifiCan is investing in the businesses, organizations, and ideas that will positively impact the lives of British Columbians and people around the world. Today’s funding will help unlock the potential of Canadian technology, create quality jobs, and position B.C.-based companies for growth at home and on the world stage.” – Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada
“We’re investing in the success of seven innovative Vancouver companies so they can scale up and go global. This world-class city is home to some of our best and brightest who are pushing the boundaries in so many different exciting sectors and we’re going to bring this talent around the world. We have seen through companies like Clarius that when we invest in their growth they anchor local benefits and good jobs here at home while making Canada a global leader in emerging technologies. We know that today’s announcement is just the beginning of many great things to come.” – Mary Ng, Minister of Export Promotion, International Trade and Economic Development