VANCOUVER, BC– The Government of Canada is committed to creating innovative opportunities for Canadians.
A $14.8 million investment will help twelve British Columbia companies move their new and exciting products to market faster and more efficiently, while creating over 240 quality jobs in the region.
Through this investment, Canadian consumers and businesses will benefit from a range of new products and services. These include enhanced pharmaceutical discovery processes to combat major diseases; clean energy technologies to increase ecological sustainability; advanced IT systems to boost workplace efficiency; modernized communications systems to increase public transit safety; and eco-friendly consumer products to reduce environmental impacts. The funded projects will also create jobs for Canada’s middle class by helping these companies move their new and innovative technologies from the later stages of research and development to the marketplace.
The Honourable Navdeep Bains, Minister of Innovation, Science, and Economic Development and Minister responsible for Western Economic Diversification Canada, made the announcement today during his keynote speech at the #BCTECH Summit in Vancouver, B.C.
“Canadian companies are working hard to bring their innovative products and services to market. The Government of Canada is proud to support these twelve B.C.-based companies in developing new technologies in fields like life sciences, clean tech, and sustainable consumer products. Organizations like these are promoting economic growth, creating high-quality jobs for Canadians, and furthering Canada’s innovation landscape,” the Minister said.
Today’s announcement supports western-based companies that develop cutting-edge technology, create jobs, and spur the economy. Funding for these B.C. companies is part of several successful projects announced under the Western Innovation (WINN) Initiative. The program provides $100 million in repayable contributions to small- and medium-sized enterprises in Western Canada. Since 2014, WD has invested nearly $97 million through WINN and expects to create over 1,600 jobs across the West.
Terramera’s CEO and Founder, Karn Manhas remarked, “Terramera is grateful for the contribution from the Government of Canada to help bring our revolutionary technology to market that will aid millions of individuals by replacing chemical pesticides and fertilizers with clean and effective natural solutions. This assistance will help accelerate our ability to develop simple, safe products to protect people from public health pests.”
The Government’s Innovation Agenda aims to make Canada a global centre for innovation – one that drives economic growth by creating better jobs, opportunities, and living standards for all Canadians. This investment is an example of that vision in action.