Government of Canada Invests Over $8.1 Million to Advance Innovation in Ocean Technology, Life Sciences and Clean Energy on Vancouver Island

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Six Greater Victoria organizations receive funding to research and commercialize new technologies, create quality jobs and increase global competitiveness

VICTORIA, BC, June 30, 2023 /PRNewswire/ — Across British Columbia, forward-thinking businesses and organizations are generating innovative solutions to global challenges. To strengthen BC’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.

Government of Canada invests over $8.1 million to foster innovation in ocean technology, life sciences and clean energy on Vancouver Island (CNW Group/Pacific Economic Development Canada)

Today, the Honorable Harjit S. Sajjan, Minister of International Development and Minister in charge of Canada’s Pacific Economic Development Agency (PacifiCan), announced an investment of more than $8.1 million in PacifiCan funding to help six Greater Victoria organizations to enhance 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 the Jobs and PacifiCan Growth Fund.

Minister Sajjan made the announcement with the South Island Prosperity Partnership, Greater Victoria’s economic development alliance, that it is receiving $3 million to establish the new Center for Ocean Applied Sustainable Technologies (COAST) and support activities led by the Indigenous Prosperity Center (IPC). COAST will expand BC’s emerging ocean technology sector by bringing together entrepreneurs, governments, researchers and industrial partners to address climate challenges and boost the local ocean economy. IPC is a new Indigenous-led arm of the SIPP dedicated to supporting Indigenous-led economic development in ocean monitoring and conservation in South Vancouver Island.

Investments announced today also include nearly $1.9 million for two projects with the University of Victoria, including $1.2 million for the Proteomics Center to purchase and install a flexible mass spectrometer, the first facility of its kind in Canada that will enable 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 on organizations and businesses receiving funding can be found in the backgrounder section below.

In total, today’s investments are expected to create more than 800 jobs, generate $23 million in revenue growth and provide training opportunities for more than 500 British-Colombians.

Quotes

“British Columbia has both the talent and the 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 driving partnership and prosperity across British Columbia.”

– The Honorable Harjit S. Sajjan, Minister of International Development and Minister in charge of Canada’s Pacific Economic Development Agency

“We are very grateful for PacifiCan’s investment in the South Island Prosperity Partnership (SIPP) to further establish the Center for Ocean Applied Sustainable Technologies (COAST) and the Indigenous Prosperity Center (IPC). Along with private sector support, this investment accelerates climate-conscious ocean and marine innovation alongside Indigenous strengths in maritime 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 BC UVic-Genome Center for Proteomics and the Pacific Regional Institute for Marine Energy Discovery (PRIMED) support the longstanding commitment of the university for healthy people and the planet. This funding will help scientists better understand the pathways that shape disease development and advance life-saving advances in precision cancer care. It will also support the implementation of renewable and clean energy solutions in Haida Gwaii”.

– Dr. Lisa Kalynchuk, Vice President Research and Innovation, University of Victoria

The facts in brief

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 across 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 enables 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 future-proof their businesses. This includes building resilience and growth through the transition to a green economy, promoting an inclusive recovery, improving 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.

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Context: Government of Canada invests more than $8.1 million to commercialize new technologies, create quality jobs and increase competitiveness

Today, the Honorable Harjit S. Sajjan, Minister of International Development and Minister in charge of Canada’s Pacific Economic Development Agency (PacifiCan), announced an investment of more than $8.1 million in PacifiCan funding to help six Greater Victoria organizations to enhance 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 Jobs and Growth. PacifiCan Fund.

The projects announced today are:

Regional Innovation Ecosystem Programme

Association of British Columbia Marine Industries (ABCMI) $821,000 Funding will help ABCMI support the growth of BC’s industrial marine sector. This includes hosting industry and innovation events to showcase technologies and investment opportunities, offer training to improve supply chain success and fill job market gaps, and access international markets.

University of Victoria $1,229,900 Funding will go towards the purchase and installation of a flexible mass spectrometer for the University of Victoria Proteomics Center, the first instrument of its kind in Canada. This equipment will support the BC Life Sciences industry 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 electricity generation 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 the purchase and installation of equipment, technology simulations and electrical system integration studies.

South Island Prosperity Partnership (SIPP) $3,000,000 Funding will enable SIPP to establish the new Center for Sustainable Ocean Technologies (COAST) and support activities led by the Indigenous Prosperity Center (IPC). COAST is dedicated to expanding BC’s rapidly growing ocean and marine technology sectors. The IPC is the new Indigenous-led arm of the SIPP promoting Indigenous-led economic development in South Vancouver Island. PacifiCan funding will help develop an ocean and marine innovation network, foster indigenous entrepreneurship, and facilitate the exploration of economic opportunities related to ocean monitoring and conservation.

Business growth and productivity program

Aluula Composites Inc. $729,114 Funding will help Aluula Composites expand production, sales and marketing of its lightweight composite fabrics. Primarily used by wind sports equipment manufacturers, Aluula products combine materials such as polyester weaves and rigid films to create a material that is significantly lighter and stronger than traditional fabrics. PacifiCan funding will go to hire new people, improve manufacturing spaces, and pursue new markets such as marine and aerospace.

Peloton Technologies Inc. $1,500,000 Peloton offers a cloud-based payment platform that allows customers to consolidate all their banking and payment activities into one portal. PacifiCan’s funding will help the company expand its customer base of merchants who are looking to transition from paper-based transactions to streamlined digital payments.

Fund for jobs and growth

Origen Air Systems Ltd. $250,000 Origen is a woman-owned clean technology company that produces smart air purification solutions using genetically modified plants. The funding will allow the company to ramp up production of its product for target industries across 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

For more information: Contacts: Haley Hodgson, Press Secretary, Office of the Minister of International Development and Minister in charge of Canada’s Pacific Economic Development Agency, [email protected]; Jillian Glover Communications Manager, Pacifican, [email protected]

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