Backgrounder: Government of Canada invests over $8.1 million to commercialize new technologies, create quality jobs, and increase competitiveness

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 $8.1 million in PacifiCan funding to help six Greater Victoria organizations boost 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 PacifiCan’s Jobs and Growth Fund.

The projects announced today are:

Regional Innovation Ecosystems Program

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

University of Victoria
$1,229,900
Funding will go towards purchasing and installing a flex mass spectrometer for the University of Victoria Proteomics Centre, the first instrument of its kind in Canada. This equipment will support the B.C. life sciences sector 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 generating electricity 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 equipment purchase and installation, technology simulations, and electrical system integration studies.

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

Business Scale-Up and Productivity Program

Aluula Composites Inc.
$729,114
Funding will help Aluula Composites expand manufacturing and sales and marketing of its light-weight composite textiles. Primarily used by wind sports equipment manufacturers, Aluula’s products combine materials such as polyester weaves and rigid films to create a material that is significantly lighter and stronger than traditional textiles. PacifiCan funding will go towards hiring new staff, upgrading production space, and pursuing new markets such as sailing and aerospace.

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

Jobs and Growth Fund

Origen Air Systems Ltd.
$250,000
Origen is a woman-owned clean technology company that manufactures smart air purification solutions using genetically modified plants. Funding will enable the company to increase production of its product for target sectors throughout North America, including commercial real estate, hospitality and healthcare. Project activities include purchasing inventory, installing equipment, and hiring new staff. 

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• News Release: Government of Canada invests over $8.1 million to commercialize new technologies, create quality jobs, and increase competitiveness