PacifiCan invests $17 million to support business growth across B.C.
Press Release
From: Pacific Economic Development Canada
Minister Sajjan announces funding from PacifiCan’s new headquarters in Surrey, a hub supporting the agency’s work with partners to enhance services to businesses
Today, the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced over $17 million in PacifiCan funding for 10 organizations to help businesses in key sectors, such as life sciences, clean technology, and construction, scale up their operations.
Launched in October 2023, PacifiCan’s Business Acceleration Pilot (BizAP) responds directly to the unique needs of businesses across the province, from Victoria to Prince George and beyond. The projects announced today will help small and medium-sized businesses to grow by enhancing access to investment capital, customers and commercial networks here in B.C., across Canada and in international markets.
For example, Life Sciences BC, an organization that supports and represents British Columbia’s life sciences business community, is receiving over $1.1 million to deliver the Global Business Development Program and the Life Sciences Showcase. These initiatives will equip businesses with the skills and knowledge to attract private capital, build global networks, and create an opportunity to showcase their companies to investors. This investment will help businesses with high growth potential achieve their scale up ambitions and bolster B.C.’s leadership in the life sciences sector.
Also receiving BizAP funding today to serve B.C. businesses are:
- Accelerate Okanagan
- Circle Innovation Solutions
- Discovery Foundation
- Foresight Canada
- Hubspace
- Light House Sustainability Society
- Simon Fraser University
- University of British Columbia
- Victoria Innovation, Advance Technology and Entrepreneurship Council
The investments announced today are expected to help create more than 2500 jobs and support more than 900 businesses across British Columbia. More details about the organizations receiving funding can be found in the backgrounder.
Minister Sajjan made this announcement from PacifiCan’s new headquarters, located at the heart of the dynamic city of Surrey. Having this federal agency headquartered in B.C. will strengthen connections between British Columbians and Ottawa.
With its new headquarters in Surrey, PacifiCan now has staff living in and delivering support from nine communities across the province and from Ottawa. By offering regionally tailored programming, PacifiCan is helping B.C. businesses grow at home and compete on a global stage. Together with its partners, PacifiCan is championing B.C. entrepreneurs and innovators and building a vibrant economy that benefits all British Columbians.
Quotes
“PacifiCan is proud to call B.C. home and open our headquarters in Surrey, a dynamic hub of economic opportunity and innovation. The new headquarters marks a significant milestone in our commitment to supporting British Columbians. Today’s announcement is one example of how PacifiCan is designing programs to meet the unique needs of businesses across our province and strengthening connections with the communities we serve. By working closely with local entrepreneurs, innovators and partners, we are unlocking new opportunities for economic growth in B.C.”
-The Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada
“PacifiCan’s new headquarters is at the heart of the fastest growing city in British Columbia, marking a new era of economic growth, industry development and jobs. Surrey Centre is home to industry, academia, and diverse residents who are propelling BC’s economy forward. Today’s announcement demonstrates how PacifiCan is spearheading growth by working with industry, and academic institutions to spur innovation and grow businesses across the province and will continue to do so all in our own backyard.”
-Randeep Sarai, Parliamentary Secretary to the Minister of Veterans Affairs and Associate Minister of National Defence and Member of Parliament for Surrey Centre
“We’re thrilled to partner with PacifiCan to deliver on this exciting project that will bring high-quality jobs, economic development, and ultimately patient impact to the province. Supporting B.C. companies to become competitive will elevate our sector, strengthening B.C.’s position as a global life sciences leader.”
-Wendy Hurlburt, President & CEO, Life Sciences BC
“Innovate BC is a proud partner of PacifiCan, whose support for British Columbia’s innovation ecosystem has been critical in creating new opportunities for businesses and entrepreneurs province wide. Innovation creates stronger, more resilient industries, and we are thrilled to work with PacifiCan again through the BizAP initiative to help unlock more funding for these vital organizations which will support small and medium-sized businesses accelerate their growth, create jobs, and contribute to economic prosperity for B.C. and across our communities.”
-Peter Cowan, President and CEO, Innovate BC
Quick facts
- About PacifiCan
- 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 throughout our province.
- With nine offices across B.C. and one in Ottawa, PacifiCan is:
- helping businesses to grow locally and compete globally;
- creating quality jobs that people can rely on close to where they live;
- bringing together industry leaders to innovate and gain market advantage; and
- supporting an inclusive economy that benefits all British Columbians.
- About Surrey
- Surrey is on its way to becoming the most populous city in the province, with a projected population of over 780,000 by 2041.
- Between 2016 and 2021, the population of Surrey grew at a faster rate (9.7%) than Vancouver (5%), an increase of 50,000 residents.
- Approximately one quarter of Surrey’s population is 19 years of age or younger.
- As of 2021, immigrants made up more than 44% of the city’s population, compared to 29% of the provincial population.
- About BizAP
- PacifiCan works with partners within the broader innovation ecosystem to invest in B.C’s economy. Through the Business Acceleration Pilot, Innovate BC is also supporting organizations that help high-growth-potential businesses achieve their scale-up ambitions.
- Projects were funded through an open call for proposals from both not-for-profit and for-profit organizations, including business accelerators, angel networks, Indigenous-led or owned organizations and industry associations.
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Contacts
Haley Hodgson
Director of Outreach and Senior Communications Advisor
Office of the Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada
haley.hodgson@kpc-cpr.gc.ca
Lynsey Brothers
A/Communications Manager
PacifiCan
lynsey.brothers@pacifican.gc.ca
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