Government of Canada invests over $8.1 million to drive innovation in ocean technology, life sciences, and clean energy on Vancouver Island Français
Six Greater Victoria organizations receive funding to research and commercialize new technologies, create quality jobs, and increase global competitiveness
VICTORIA, BC, June 30, 2023 /CNW/ - 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.
Today, the Honourable 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 six 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 in the section below.
In total, today's 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."
- The Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada
"We are very grateful for PacifiCan's investment into the South Island Prosperity Partnership (SIPP) to further establish the Centre for Ocean Applied Sustainable Technologies (COAST) and the Indigenous Prosperity Centre (IPC). Together with leveraged support from the private sector, this investment accelerates climate-conscious ocean and marine innovation along with Indigenous strengths in marine stewardship in order to realize Pacific Canada's position as a leader in the global blue economy."
- Emilie de Rosenroll, Group CEO, South Island Prosperity Partnership and Founding CEO, COAST
"Thank you to PacifiCan for investing in UVic research and partnering with us to create positive change. The UVic-Genome BC Proteomics Centre and Pacific Regional Institute for Marine Energy Discovery (PRIMED) underpin the university's longstanding commitment to healthy people and the planet. This funding will help scientists better understand the pathways that shape disease development and propel lifesaving advances in precision cancer care. It will also support the implementation of renewable, clean energy solutions in Haida Gwaii."
- Dr. Lisa Kalynchuk, Vice-President Research and Innovation, University of Victoria
- 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.
- The Regional Innovation Ecosystems Program aims to grow and nurture priority sectors, including clean technology, life sciences and digital technology, across British Columbia in order to build an inclusive innovation ecosystem that allows those sectors to innovate and compete globally.
- The Business Scale-up and Productivity program makes strategic investments in key economic sectors, helping innovative companies accelerate their growth and compete globally.
- The Jobs and Growth Fund helps job creators, and the organizations that support them, to future-proof their businesses. This includes building resiliency and growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness and creating jobs across British Columbia.
- South Island Prosperity Partnership (SIPP) is Greater Victoria's economic development alliance. SIPP represents a new era of economic development focused on creating a resilient, diverse, sustainable and inclusive regional economy.
- PacifiCan
- Regional Economic Growth through Innovation initiative
- Regional Innovation Ecosystems
- Business Scale-Up and Productivity program
- Jobs and Growth Fund
- South Island Prosperity Partnership
- University of Victoria
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Backgrounder: Government of Canada invests over $8.1 million to commercialize new technologies, create quality jobs, and increase competitiveness
Today, the Honourable 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 six 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 Ecosystem 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.
The projects announced today are:
Association of British Columbia Marine Industries (ABCMI)
$821,000
Funding will help the ABCMI support the growth of B.C.'s industrial marine sector. This includes hosting industry and innovation events to showcase technologies and investment opportunities, offering training to improve supply chain success and address labour market gaps, and accessing international markets.
University of Victoria
$1,229,900
Funding will go towards purchasing and installing a flex mass spectrometer for the University of Victoria Proteomics Centre, the first instrument of its kind in Canada. This equipment will support the B.C. life sciences sector in advancing solutions for drug development, cancer research, and personalized medicine for disease prevention and treatment.
University of Victoria
$658,000
Funding will help the University of Victoria's Pacific Regional Institute for Marine Energy Discovery (PRIMED) undertake a comprehensive assessment of marine energy resources for generating electricity on Haida Gwaii. The project is exploring opportunities to replace the islands' existing diesel generators with renewable energy sources such as ocean waves and tidal currents. Activities include equipment purchase and installation, technology simulations, and electrical system integration studies.
South Island Prosperity Partnership (SIPP)
$3,000,000
Funding will enable SIPP to establish the new Centre for Ocean Applied Sustainable Technologies (COAST) and support activities led by the Indigenous Prosperity Centre (IPC). COAST is dedicated to expanding B.C.'s rapidly growing ocean and marine technology sectors. The IPC is the new Indigenous-led arm of SIPP that promotes Indigenous-led economic development on southern Vancouver Island. PacifiCan funding will help develop an ocean and marine innovation network, foster Indigenous entrepreneurship, and facilitate the exploration of economic opportunities connected to ocean monitoring and conservation.
Business Scale-Up and Productivity Program
Aluula Composites Inc.
$729,114
Funding will help Aluula Composites expand manufacturing and sales and marketing of its light-weight composite textiles. Primarily used by wind sports equipment manufacturers, Aluula's products combine materials such as polyester weaves and rigid films to create a material that is significantly lighter and stronger than traditional textiles. PacifiCan funding will go towards hiring new staff, upgrading production space, and pursuing new markets such as sailing and aerospace.
Peloton Technologies Inc.
$1,500,000
Peloton offers a cloud-based payment platform that allows customers to consolidate all banking and payment activity into a single portal. PacifiCan funding will help the company expand its client base of merchants who are looking to switch from paper-based transactions to streamlined digital payments.
Origen Air Systems Ltd.
$250,000
Origen is a woman-owned clean technology company that manufactures smart air purification solutions using genetically modified plants. Funding will enable the company to increase production of its product for target sectors throughout North America, including commercial real estate, hospitality and healthcare. Project activities include purchasing inventory, installing equipment, and hiring new staff.
SOURCE Pacific Economic Development Canada
Contacts: Haley Hodgson, Press Secretary, Office of the Minister of International Development and Minister Responsible for the Pacific Economic Development Agency of Canada, [email protected]; Jillian Glover Communications Manager, PacifiCan, [email protected]
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