BC green tech now gets CA$9.9M from Canada for growth

 BC green tech now gets CA$9.9M from Canada for growth

Image courtesy: Unsplash

The Government of Canada has earmarked a sum of CA$9.9 million to accelerate the growth of British Columbia’s tech businesses. Mr. Harjit S. Sajjan, Minister of Emergency Preparedness announced that Pacific Economic Development Canada (PacifiCan) will provide the funding. This funding in BC green tech, via PacifiCan’s Regional Innovation Ecosystems program, augments the CA$11.5M from the provincial government earlier.

PacifiCan is the federal government organization for economic development specifically for British Columbians. It collaborates with companies that are establishing cutting-edge enterprises and producing high-caliber employment opportunities across BC. The move fits in PacifiCan’s broader vision to foster innovation and galvanize the economic framework amidst a competitive global arena. The Regional Innovation Ecosystem Program is focused on growing key sectors across BC, including cleantech, life sciences and digital technology.

The infusion is aimed to act as a catalyst, enabling BC tech enterprises to scale up and drive higher productivity. Importantly, the government views it as a stepping stone towards realizing its ambitious Integrated Marketplace project.

Mr. Sajjan said that BC overflows with expertise and cutting-edge ideas to establish Canada as a leader in sustainable technology. He mentioned that this move will accelerate adoption of made-in-BC technology both domestically and internationally by helping showcase new products. He also highlighted PacifiCan’s support of the Integrated Marketplace as a crucial step toward increasing the competitiveness of Canadian companies. The government believes this will help in producing high-quality jobs and establishing a path to a net-zero future for Canada.

Also read: PacifiCan gives BC indigenous communities CA$5.9M for clean energy & upskilling

Integrated Marketplace an emerging component of BC green tech strategy

The Integrated Marketplace was launched in December 2022. It aims to help tech businesses export made-in-BC goods/services and test green solutions in actual business settings (e.g. seaport/airport). The idea is to create a harmonized market that facilitates smoother business transactions and interactions for BC green tech innovators and entrepreneurs.

“The Integrated Marketplace (IM) is a unique, high-impact program that offers B.C. solution providers a pathway to develop, test and market homegrown innovation while also de-risking technology adoption for local industry. This funding from PacifiCan bolsters the incredible potential that IM has for developing our innovation ecosystem and will enhance opportunities for our innovators to make their mark here and worldwide.”

Tomica Divic, Interim President + CEO, Innovate BC

Innovate BC, a crown agency of the province, is the organization driving the program. The program will create a network of business partners to identify issues and put technical solutions in place. Eventually, government hopes this assist large-scale enterprises in becoming more competitive, reducing their carbon footprint, and enhancing health and safety.

The Canadian government has made a commitment to achieving net-zero emissions across the country by 2050. Without a doubt, this calls for creative policies and technologies to help reshape the economy. The Integrated Marketplace hopes to open up new markets and draw top talent to the province too. Time will tell if it accelerates the development and adoption of clean technologies, and indeed helps Canada reach those goals.


Also read: Clean energy innovations get CA$5.2M more support from BC

Editor

The Tech Factor is a new-age media platform focused on Canada. Our mission is to provide insightful and comprehensive coverage of the Canadian startup and technology ecosystem. To connect with us, report any inaccuracy in our writing, or to share news about the ecosystem, please reach out at editor [at] thetechfactor.ca or fill the 'Submit Tips' form in the top menu.

Related post