Backgrounder: Government of Canada invests over $25.7 million to fuel innovation and economic growth in Vancouver

Today, the Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced an investment of over $25.7 million to help 10 Vancouver-based businesses and organizations fuel the B.C. economy, create jobs, and develop products that improve lives. This includes over $16.1 million for eight companies through the Business Scale-Up and Productivity program and over $9.6 million for two organizations through the Jobs and Growth Fund.

The projects announced today include:

Business Scale-Up and Productivity Program

Arbutus Medical Inc.
$400,000
Funding will help the recipient launch two new products and expand sales of its orthopedic power drill system to North American trauma centres. The regulatory-approved drill system allows orthopedic surgeons to use a hardware store power drill in sterile, medical environments, making it thirty times more cost-effective than its competitors.

Aspect Biosystems Ltd.
$3,677,430
Funding will help the recipient develop the next generation of medical treatments by broadening the application of its bioprinting technology, expand its global network of partners, and scale-up its manufacturing systems. Aspect’s technology platform generates 3D bioprinted human tissues that restore or replace the function of damaged organs.

Augurex Life Sciences Corp.
$473,500
Funding will help the recipient expand the market for its patented blood test, JOINTstat, and launch alternative testing formats such as remote sample collection. JOINTstat is currently used to detect rheumatoid arthritis, and funding will allow the company to explore applications for other autoimmune diseases such as Lupus and Sjogren’s. 

Broadband TV Corp (BBTV)
$5,000,000
Funding will be used to grow the recipient’s digital marketing operations and expand its sales strategy by hiring new staff and implementing an Enterprise Resource Planning system. BBTV drives monetization opportunities for digital content creators, such as the NBA, Sony Pictures and Viacom, by providing comprehensive, end-to-end solutions to increase viewership and drive revenue powered by technology.

Klue Labs Inc.
$2,000,000
Funding will help the recipient scale-up its AI-driven competitive intelligence platform by expanding operational capacity, delivering a marketing plan to acquire new customers, and develop partnerships to increase market share. Klue’s software enables companies to collect, curate, and distribute the information needed to close sales.

MetaOptima Technology Inc.
$2,031,250
Funding will enable the recipient, a digital health company, to expand export sales of its cloud and mobile software solutions for dermatology and skin care, specifically in the United States. Project activities include hiring team members, developing marketing and training material, and improving cloud services. The company’s AI-driven platform enables affordable diagnostic solutions in dermatology, including much-needed telehealth services.

PrecisionOS Technology Inc.
$1,500,000
Funding will help the recipient grow its virtual reality medical training platform for adoption in global markets, by expanding operational capacity and implementing new tools to manage customer relationships and software subscriptions. The company’s platform enables immersive virtual medical training for orthopedic surgeons, a cost-effective and accessible alternative to cadavers.

TradableBits Media Inc.
$1,020,000
Funding will help the recipient grow international sales of its software marketing platform which enables music, sports, and entertainment industry clients to collect, analyze, and activate fan data. Project activities include software development, expansion of sales and marketing activities, and new client trials in Europe and the Asia-Pacific.

Jobs and Growth Fund

Circle Innovation
$4,692,000
Funding will enable the recipient to help a broad range of life sciences companies in British Columbia develop new technologies and expand services. Circle Innovation works with small- and medium-sized businesses to solve R&D challenges, grow revenues and create jobs. Project activities include hiring staff and contractors, hosting industry events, and developing skills training programs.

CoPilot AI
$5,000,000
Funding will help the recipient expand the market for its sales enablement software platform within the United States. The artificial intelligence software helps companies identify sales prospects and classify them by value and interest level, allowing them to effectively prioritize resources. 

Related products

• News Release: Government of Canada invests over $25.7 million to fuel innovation and economic growth in Vancouver