March 16, 2011
Kamloops, British Columbia
A $1.02 million federal-provincial investment through the Western Economic Partnership Agreement will help two of B.C.’s regional science and technology councils deliver a suite of business programs and related initiatives that will service emerging technology entrepreneurs and companies over the next 18 months.
“Small technology companies are vital to our economy and the Government of Canada is committed to helping pave the way for their success,” said Cathy McLeod, Member of Parliament for Kamloops – Thompson – Cariboo, on behalf of the Honourable Lynne Yelich, Minister of State for Western Economic Diversification. “This investment will provide emerging entrepreneurs and companies with the tools they need to grow and create jobs across B.C.”
“Ensuring our province is a great place to start and grow a company is a top priority for our government,” said Pat Bell, B.C.’s Minister of Jobs, Tourism and Innovation. “The funding announced today will serve to strengthen B.C.’s technology sector through the enhanced tools and resources that will be available for start-ups coming out of these regions.”
Funding for the Mid-Island Science, Technology and Innovation Council (MISTIC) will facilitate business growth by addressing regional needs across parts of Vancouver Island/Sunshine Coast. MISTIC will deliver a business mentoring program; an access-to-capital initiative to help businesses better access financing and venture capital; and a series of marketing activities to promote current innovative businesses and technologies.
“With the funding provided by Western Economic Diversification, MISTIC is now poised to launch a series of initiatives that will support entrepreneurial capacity, contribute towards economic development and foster a culture of innovation within the region”, said Paris Gaudet, Executive Director.
The Interior Science and Innovation Council (ISIC) will also undertake a suite of similar activities, branded Linx Accelerated, including a mentoring program and website revitalization. Funding for ISIC also helped support the recently opened Kamloops Innovation Centre (KIC) which provides office, meeting and laboratory spaces for new and expanding business. The KIC recently celebrated a major success, with its first client winning third place at this year’s British Columbia Innovation Council’s New Ventures Competition.
“The partnership with Western Economic Diversification is about providing local high-tech entrepreneurs with the knowledge base and support services they need to quickly develop and bring their technology to the market,” said Bill McQuarrie, Executive Director. “This accelerated program is a huge step forward and will translate into an expanded tech sector, new investment and new jobs.”
Within 18 months, the two projects are expected to create 90 new technology jobs and 50 new or expanded businesses. An estimated 195 entrepreneurs will participate in the business mentoring and incubator services offered by the councils.
Under the Western Economic Partnership Agreement, Canada and B.C. are contributing $25 million each, over four years, to strengthen economic activity and improve quality of life in B.C. communities.
Media contact:
Jaime Burke
Regional Communications Manager - British Columbia
Western Economic Diversification Canada
Tel: 604 666-1318
Gordon Keast
Public Affairs Bureau
Ministry of Jobs, Tourism and Innovation
250 952-0132
Paris Gaudet
Mid-Island Science, Technology & Innovation Council (MISTIC)
Phone: 250.753.8324 - 1.877.664.7842
Bill McQuarrie
Interior Science Innovation Council
Phone (250) 828-1713
Connect with the Province of B.C. at www.gov.bc.ca/connect.
WD Toll-Free Number:1-888-338-WEST (9378)
Teletypewriter (TTY): 1-877-303-3388
WD Website: www.wd-deo.gc.ca.
