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Western Economic Diversification Announces $39 Million in Funding for 17 BC Tech Companies
Tuesday, August 13, 2019Company Profile | Follow Company
Western Economic Diversification Announces $39 Million in Funding for 17 BC Tech Companies through its Business Scale Up and Productivity (BSP) Program
Vancouver, BC, August 13, 2019--(T-Net)--Western Economic Diversification Canada (WD) has announced investments through its Business Scale Up and Productivity (BSP) program, for 17 companies.
Together, these companies will receive up to $39 million.
Supporting innovative, clean technology firms in Western Canada is a priority for WD, according to the organization. By providing interest free, repayable funding to help qualified companies grow and expand, WD says it is delivering on the Budget 2018 commitment to grow the western Canadian economy through regional innovation.
In British Columbia, this investment will help create almost 800 new jobs according to WD.
The projects announced today include a number of well known BC tech companies:
Organization |
Project Description |
Location |
Funding |
|
Scale-up partnerships in therapeutic antibody discovery business |
Vancouver, BC |
Up to $5,000,000 |
|
Commercialize open source software platform for life science and finance sectors |
Vancouver, BC |
Up to $2,495,500 |
|
Expanding the Use of Cyclotrons for Production of GMP Medical Isotopes |
Vancouver, BC |
$1,500,000 |
|
Adapt existing software to a cloud-based environment for increased market share |
Burnaby, BC |
Up to $1,143,000 |
|
Improve capacity and productivity of recycling operations by adopting advanced technology |
Burnaby, BC |
Up to $699,500 |
|
Scale up of DarkVision Downhole Imaging Technology in Western Canada and US |
Vancouver, BC |
Up to $2,991,500 |
|
Optimize manufacturing capacity and processes for waterpark parts and systems |
Kelowna, BC |
$2,500,000 |
|
Develop and commercialize next generation PowerCube hydrogen fuel delivery system |
Vancouver, BC |
Up to $875,000 |
|
Increase connectivity of an employee portal (intra net) to other enterprise systems |
Vancouver, BC |
Up to $2,000,000 |
|
Scale-up marketing of Picnic platform to capture emerging high-potential markets |
Vancouver, BC |
Up to $550,000 |
|
Commercialize a Property Inventory Management System in Europe |
Nanaimo, BC |
$2,583,862 |
|
Scale-up production of detectors for medical and security imaging devices |
Saanichton, BC |
$2,500,000 |
|
Demonstrate and commercialize industrial desalination technology |
Richmond, BC |
$2,500,000 |
|
Scale-up manufacturing and sales activities of precision agriculture system |
Vancouver, BC |
$5,000,000 |
|
Improve quality management system & upgrade cell separation products for new markets |
Vancouver, BC |
$5,000,000 |
|
Accelerate growth of account-based sales software |
Burnaby, BC |
Up to $300,000 |
|
Establish a biomechanics lab and digital manufacturing centre |
Vancouver, BC |
Up to $2,300,000 |
TOTAL WD FUNDING |
Up to $ 39,938,362 |
"Across Canada, innovative companies are developing solutions to today's biggest challenges, like climate change, and creating the jobs of the future. By supporting dynamic companies in promising sectors across British Columbia, our government is helping turn today's challenges into opportunities, and create the kinds of jobs that will secure a bright future for our children." said The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada
Western Economic Diversification Canada promotes the development and diversification of Western Canada's economy and advance the interests of the West in national economic policy, programs and projects.
About Business Scale-up and Productivity
(Delivered in Western Canada through Western Economic Diversification Canada)
The Business Scale-up and Productivity (BSP) program stream supports businesses at various stages of development, including high-growth firms, wanting to accelerate their growth, scale-up, and be more productive and competitive in both domestic and global markets. It offers interest-free funding to western Canadian companies.
The regional development agencies (RDAs) in their respective regions are delivering the BSP program stream across Canada. Western Economic Diversification Canada (WD) is delivering BSP in western Canada.
Through BSP, we are placing greater emphasis on helping firms in priority areas to commercialize products/ services, scale-up, improve productivity, and develop and expand into new markets.
By providing interest free, repayable funding to help qualified companies grow and expand, WD is delivering on the Budget 2018 commitment to grow the western Canadian economy through regional innovation.
Quick Facts
Additional Links
For further information: Ben Stanford, Regional Communications Manager, Western Economic Diversification Canada, 604-365-8050, ben.stanford@canada.ca
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