VANCOUVER – The BC Chamber of Commerce welcomed the December 8 provincial announcement of a $100-million venture capital fund to be set up to assist B.C.’s technology sector. The fund has been established to build on the continued momentum found in the BC Jobs Plan for one of the fastest growing industries in the province.
“The announcement further strengthens our province by continuing to diversify BC’s economy. The multi-billion dollar tech sector is a huge economic driver in B.C. and a major employer in many regions across the province,” said Jon Garson, President and CEO of the BC Chamber of Commerce.
“Building upon this success, the provincial government is laying the groundwork to foster future growth in this sector.”
This $100-million venture capital fund provides entrepreneurs and start-up tech companies needed access to capital funding, enabling them to become future job-creators and thus strengthening communities in our province.
“The tech sector is growing rapidly in British Columbia, in many cases faster than the overall provincial economy, and facilitating a channel for more opportunities in this sector is the right move at the right time,” added Garson.
The new BC Tech Fund is the first pillar, along with enhancing the talent pool and increasing access to markets, which will all be unveiled in the complete BC tech strategy which is to be announced in January. Building on support for start-up tech companies, such as the digital animation and visual effects tax credit, this fund is great news for a sector of the economy that can help push for greater productivity and innovation.
The BC Chamber is the largest and most broadly-based business organization in the province. Representing more than 125 Chambers of Commerce and 36,000 businesses of every size, sector and region of the province, the BC Chamber of Commerce is “The Voice of Business in BC.”