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Innovate BC Awards $1.4 Million in Funding to Five B.C. R&D Projects Solving Real-World Challenges
Tuesday, September 26, 2023Company Profile | Follow Company
Vancouver, BC, September 26, 2023--(T-Net)--Innovate BC announced today that it has awarded $1.365 million to five B.C. research and development projects in natural resources and applied sciences that are improving lives for British Columbians.
Specifically, this year's funding, through Innovate BC's Ignite program, is accelerating the commercialization of clean technology, advanced materials and manufacturing, and life science projects.
The successful projects noted below were selected based on their promising commercial and technical viability as well as their ability to be market ready within three years.
To be considered, projects must also address an industry problem with the potential for significant benefit to British Columbia and be implemented by a group of academic and industry members.
Tomica Divic, Interim President and CEO, Innovate BC
"Innovate BC is honoured to support and invest in research and development projects in the natural resources and applied sciences," says Tomica Divic, Interim President and CEO at Innovate BC. "Innovation in these fields is not just about shaping the future; it's about preserving our planet, optimizing our resources, and driving sustainable progress. Together, we are unlocking the boundless potential of our world's most valuable assets - knowledge and nature - for a brighter, greener, and more prosperous tomorrow."
Brenda Bailey, Minister of Jobs, Economic Development and Innovation
"I'd like to extend my sincere congratulations to this year's Ignite award winners, whose innovation, courage, passion and dedication make a real difference to everyone in B.C.," said Brenda Bailey, Minister of Jobs, Economic Development and Innovation. "I look forward to continuing to support solutions by, and for B.C. innovators, as we build a clean and inclusive economy that works for everyone."
Each year Innovate BC's Ignite program selects research projects in the natural resources and applied sciences, awarding up to $300,000 per project. To date it has funded 46 projects for a total value of $12 million.
The Ignite Program is funded by the Natural Resources and Applied Sciences (NRAS) Endowment Fund, which was established by the Province of British Columbia to enhance the quality of life for British Columbians by building strong environments in research and development, advanced training, technology transfer, and commercialization.
To learn more about Ignite, visit: www.innovatebc.ca/ignite.
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