Government of Canada Grants $31 Million to Four BC Tech Incubators and AcceleratorsFriday, November 21, 2014
Vancouver, BC, November 21, 2014--(T-Net)--The Honourable James Moore, Minister of Industry and Minister Responsible for British Columbia, today announced a major investment in four British Columbia incubator and accelerator organizations.
The funds, distributed under the Canada Accelerator and Incubator Program, will ensure Canadian entrepreneurs have access to the resources and expertise needed to develop their business plans, seek follow-on financing and explore new international markets for products and services, according to the Government.
"By investing in British Columbia's incubator and accelerator organizations, we are ensuring local promising start-up businesses have the resources they need to grow, innovate and create jobs. Our government is pleased to be supporting private sector-led initiatives that will further strengthen our venture capital market." said James Moore, Minister of Industry.
"Vancouver is the place to start and grow a technology company. We are a gateway to world markets, we've got access to fantastic talent and our entrepreneurial spirit is globally recognized. Through the support of the Government of Canada and the industry, the BCTIA Innovation Hub has moved from a dream to a reality. The Hub is an open, collaborative place where entrepreneurs and business leaders will make connections, grow companies and create jobs for British Columbia and Canada." stated Bill Tam, President and CEO, BC Technology Industry Association.
"We are thrilled about receiving CAIP support to further expand services to our portfolio companies that are headquartered here with the ambition to grow into global category leaders. In particular, we will be able to provide new specialized programs that will not only accelerate our start-ups to product-marketfit but also shine a national spotlight on top program grads to further help them secure institutional follow-on capital." added Marcus Daniels, Co-Founder and CEO, HIGHLINE.
"It is crucial for Canada's R&D ecosystem to be adequately resourced. As an enterprise committed to bridging the commercialization gap between early-stage academic research and industry, CDRD/CVI acknowledges and appreciates its partnership with the federal government—one that has been essential in enabling the significant milestones and outcomes we have realized to date."
said Karimah Es Sabar, President and CEO, Centre for Drug Research and Development.
"Recognized as Canada's Accelerator of the Year in 2014, Wavefront is committed to accelerating the growth and success of wireless companies in Canada. Our programs connect promising technology innovators with critical resources, partners and opportunities. Funding from CAIP will support expansion across Canada of Wavefront's successful regional programs, helping more Canadian companies gain traction, create jobs and succeed in global wireless and Internet of Things markets." added James Maynard, President and CEO, Wavefront Wireless Commercialization Centre Society.
Backgrounder: Canada Accelerator and Incubator Program (CAIP)
Office of the Minister of Industry
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National Research Council of Canada
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