Published On: Friday, 02 March 2018

Innovation Commission Supports BC Jobs and Economy

Innovation Commission Supports BC Jobs and Economy

VICTORIA - Technology entrepreneurs and businesses throughout British Columbia will be better able to access provincial funding and support through Innovate BC, the Province’s new innovation commission.

The British Columbia Innovation Council Amendment Act, recently introduced in the legislature, proposes to expand the mandate of the BC Innovation Council. The Crown agency will be renamed Innovate BC.

“Innovation is the lifeblood of a successful economy, and your government is working to ensure the benefits of our tech and innovation sector are felt by people in all regions of our province,” said Minister of Jobs, Trade and Technology Bruce Ralston.

“By making Innovate BC a single point of contact for entrepreneurs and businesses across B.C., we will ensure people get the help they need to create good jobs and benefit from the opportunities of the emerging economy.”

The innovation commission is a component of the Confidence and Supply Agreement with the BC Green Party caucus, to provide a single point of contact for tech businesses throughout the province looking to build capacity, reach global markets, attract new investment and access startup capital.

Recognizing its potential to support BC tech, the provincial government has adopted the concept as part of its efforts to help BC innovators thrive.

Innovate BC will be BC’s primary agency to promote company growth, resulting in jobs, increased revenue and economic development, and ensuring that all regions of the province benefit from the opportunities of the emerging economy.

“Innovate BC will help entrepreneurs seize the exciting opportunities of the 21st-century economy,” said BC Green Party Leader Andrew Weaver.

The Crown agency will also provide tech entrepreneurs provincewide with tools, resources and expert guidance, and support Indigenous entrepreneurship by working with the First Nations Technology Council.

Innovate BC will absorb all the programs and services currently delivered by the BC Innovation Council, in addition to expanding its mandate. These changes will ensure that B.C. is more competitive nationally and globally, and can attract additional investment to scale up the provincial tech ecosystem.

“With this expanded mandate, we are excited to continue to power our province’s economic engine through the exchange of innovation into traditional and emerging industries,” said BC Innovation Council president and CEO Shirley Vickers.