PacifiCan invests $6.4 million to drive business growth and support community economic development initiatives across British Columbia

Funding will help B.C. companies access the investment capital, customers, and expert advice they need to grow and help communities capitalize on development opportunities

SURREY, BC, March 7, 2025 /CNW/ - British Columbians are known for their entrepreneurial and community spirit. As B.C. organizations grow, they create jobs, boost local exports, and strengthen the economy. However, many businesses lack access to the supports they need to reach their full potential. PacifiCan is here to help B.C. businesses and communities thrive.

A container ship sits in a harbour. Text reads: PacifiCan invests $6.4 million to drive business growth and support community economic development initiatives across British Columbia. (CNW Group/Pacific Economic Development Canada)

Today, the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced $6.4 million in PacifiCan funding for seven organizations to drive business growth and support economic development initiatives in British Columbia. This includes $5.1 million for three organizations through PacifiCan's Business Acceleration Pilot (BizAP) that will help small- and medium-sized businesses scale up, expand into new markets and strengthen B.C.'s economy.

Launched in October 2023, PacifiCan's BizAP responds directly to the unique needs of businesses across the province. The three projects announced today, as well as the 10 announced in January, will help high-growth businesses access investment capital and connect to new customers and commercial networks in B.C., across Canada, and in global markets.

Among the BizAP funding recipients, Alacrity Canada will receive $2,481,097 to expand its programming for small- and medium-sized businesses ready for rapid growth. With a track record of supporting 24,000 B.C. entrepreneurs, Alacrity's Advanced Pathways for Export Program (APEX), will prepare companies for diversified trade opportunities and provide personalized mentorship from industry experts and connections with global investors. This investment will help businesses with high growth potential achieve their scale-up ambitions and bolster B.C.'s position as a leader in key sectors such as clean technology and manufacturing.

The Fireweed Institute is receiving $1,394,650 to develop and deliver new programming tailored to high-growth-potential Indigenous businesses, and BC Tech is receiving $1,222,969 to help technology-focused businesses scale up their operations. These three BizAP investments are expected to help create more than 1,700 jobs, support 300 businesses across British Columbia, and drive more than $110 million in revenue growth for these companies.

As part of today's announcement, Minister Sajjan also announced $1.3 million in funding through PacifiCan's Community Economic Development and Diversification program to help four not-for-profits boost local economic growth in communities across the province.

The organizations receiving this funding are:

• $677,800 for Royal Roads University Foundation to pilot targeted support for municipal and First Nations economic development partnerships in the growing Westshore region of Southern Vancouver Island
• $359,950 for S2S Outdoor Adventure Recreation Enterprise to establish an outdoor technology innovation centre in the Sea to Sky region of B.C.
• $168,300 for Haida Gwaii Community Futures to deliver Indigenous business development services and support local entrepreneurs
• $134,250 for the City of Quesnel to expand a food processing facility to support small business growth in Northern B.C.

Quotes

"British Columbian entrepreneurs and community leaders have the ambition, creativity, and knowledge needed to transform industries here at home and around the world. PacifiCan is committed to helping B.C. organizations achieve their goals. Today's announcement is another example of how PacifiCan is designing tailored programs to meet the needs of businesses and not-for-profits across our province. By working closely with local entrepreneurs, innovators, and community partners, we are unlocking new opportunities for economic growth in British Columbia."

-The Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada

"Scaling a business beyond domestic markets requires not only capital - it's about unlocking the right networks, export opportunities, and strategic expertise. Through the APEX program we are leveraging our global footprint and equipping B.C.'s high-growth SMEs with the tailored support they need to succeed in international markets. This will drive competitive economic growth, industrial transformation, and accelerate the transition to a clean economy."

-Golriz Fattahi, Chief Operating Officer, Alacrity Canada

Quick Facts

• PacifiCan is the federal economic development agency dedicated to British Columbians. PacifiCan works with partners who are building innovative businesses, creating quality jobs, and supporting inclusive growth throughout our province.
• Through the Business Acceleration Pilot, PacifiCan is providing funding for organizations to deliver tailored support for growth-oriented businesses. This includes providing them with access to the investment capital, customers, and expert advice they need to grow.
• Business Acceleration Pilot projects were funded through an open call for proposals from both not-for-profit and for-profit organizations, including business accelerators, angel networks, Indigenous-led or owned organizations, and industry associations.
• The Community Economic Development and Diversification program creates enduring economic benefits for British Columbians. It invests in projects that harness local ambitions, assets, knowledge and economic opportunities to create more prosperous and resilient communities.

Associated Links:

• PacifiCan
• Business Acceleration Pilot
• Community Economic Development and Diversification program
• Alacrity Canada
• Indigenous Business Development Services

Stay connected
Follow PacifiCan on Twitter and LinkedIn
Toll-Free Number: 1-888-338-9378
TTY (telecommunications device for the hearing impaired): 1-877-303-3388

SOURCE Pacific Economic Development Canada

Contacts: Quinn Rinke, Parliamentary Secretary Assistant, Office of the Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada, [e-mail]; Lynsey Brothers, A/Communications Manager, PacifiCan, [e-mail]